Latest and Greatest
22 - 1998-S KENNEDY HALF DOLLAR, SILVER, MATTE FINISH


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Coin Details

  

Set Details
Origin/Country: United States
Design Description: HALF DOLLARS - KENNEDY, PROOF
Item Description: 50C 1998 S SILVER
Grade: NGC SP 70
Owner: Cellgazer
 
Winning Set: Latest and Greatest
Date Added: 4/23/2012
Research: See NGC's Census Report for this Coin

Owner's Description

By the late 1990s, the U.S. Mint was under pressure to boost commemorative coin sales. Coins for the 1994 World Cup and the 1996 Olympics had performed miserably and drowned sales of surrounding issues. Although today’s collectors salivate when they see the low mintage figures of commemoratives from this era—making them among the most desirable of all the issues—at the time it was disastrous for the Mint. Millions of dollars were lost. For example, the U.S. Mint paid nearly $9 million to the World Cup Organizing Committee from collected surcharges on the sale of the 1994 commemorative coins, even though the Mint itself netted a loss of $5 million on the coins. To boost sales, the Mint tried new things. In one experiment, special versions of circulating coins were paired with other Mint products. This was done to great effect in 1998, when the Uncirculated Robert F. Kennedy silver dollar was paired with a silver John F. Kennedy half dollar from the San Francisco Mint. Sold in the “Brothers Set,” this Kennedy half dollar is a significant coin for many reasons. To match the appearance of the commemorative dollar it was paired with, the Kennedy half dollar was given a dull matte surface, the first time that this finish had ever been used on a Kennedy. Further, unlike circulating coins, the Kennedy half dollar issued in this set is 90 percent silver. Although 90 percent silver Kennedy half dollars had been sold since 1992 in special Proof sets, this was the first Kennedy of this composition since 1964 that wasn’t strictly a Proof. Along these same lines, it is the only San Francisco Mint Kennedy half dollar that’s not a Proof. Adding another unusual element, the Brothers Set was only offered for sale during a six-week window. Rather than limiting the number of sets that could be produced, the Mint limited the sales period and therefore did not need to strike coins until it knew exactly how many were sold. Referring specifically to this facet of the program in the U.S. Mint’s Annual Report, Director Philip N. Diehl wrote, “[The six-week sales window] created urgency among collectors and brought us cost and production benefits from knowing how many coins to produce. This innovation served us and the hobby, and it’s a win-win option for the future. The program will close profitably on December 31, 1998.” A profitable commemorative program was indeed something to celebrate in 1998. But the program’s success may have had more to do with the convenient thematic relationship of two siblings on coins combined with the rather high issue price of $59.95 for the set—a lofty $30 premium for the silver half dollar—than anything else. Despite the success, this type of initiative has not been repeated by the Mint. The $30 spent on the coin back in 1998 has generated a nice return, as this coin is worth several hundred dollars today. Its mintage of approximately 62,000 is very low for the series and the unique attributes of the coin give it a broad base of appeal. Issued in special sets and created with extra care, the coin frequently survives in pristine condition, making this a key date than can be acquired in the very highest grades.

Garrett, Jeff; Schechter, Scott; Bressett, Kenneth; Bowers, Q. David (2011-03-04). 100 Greatest US Modern Coins (Kindle Locations 1423-1448). Whitman Publishing. Kindle Edition.

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