The 1927-S Walking Liberty half dollar was extensively circulated at the time of issue, and examples in higher Mint State grades are quite scarce.
This issue has several problems: It was the first half dollar minted (except for commemoratives) since 1923. They were desperately needed to support business demands and were not minted or handled with the greatest of care. Strike is a primary problem with widespread weakness in both centers of the obverse and the reverse. Many coins have a downright terrible strike. Walkers from the 1919-D, 1923-S, 1927-S to 1928-S usually have nothing more than a smooth piece of metal on the thumb area of the obverse and Liberty’s hand is completely gone. Surface abrasions on the 1927-S are also plentiful and fully struck gem specimens are just about nonexistent.
An original 1927-S roll was auctioned off at the 1975 ANA convention. No pieces were anywhere near being fully struck. Value is directly proportional to strike for this issue. Above average strikes normally sell for a large premium. Nearly full strikes with minimal abrasions have sold for double sheet prices. Investment potential is well above average for grades MS63 and higher and excellent for MS65 coins with an 80% or better strike.
The present coin is a superbly struck gem specimen, with unusual sharpness apparent on Liberty's hand and on the eagle's leg. This issue (along with the 1928-S) was plagued with die cracks on the reverse (from the excessive use of worn dies) but the current example does not have one apparent. This along with the previous coin ('23-S) are, no doubt, Early Die Sate examples. This issue usually has above average luster but the surface luster on this piece is, especially, vibrant & brilliant and is dripping with frost. This coin has very few abrasions, as this issue was often seen moderately to heavily abraded. No significant distractions with nice original light tone.
The mintage is 2,392,000 with just 433 total MS 64 survivors with PCGS at 255/62 & NGC at 178/32.