1920 Walking Liberty Half Dollar

Collectors looking for an early Walking Liberty half dollar (1916-47) have only a few relatively affordable options. One of them is the 1920, which price guides suggest can be found in low mint-state starting around $500—a fraction of nearly every other issue from the first decade of the silver series.

Numismatic Guaranty Company (NGC) recently received a purported 1920 Walking Liberty half dollar. Counterfeiters will target any coin that can make them a profit, which can be easier to accomplish through the use of cheap metals like copper and zinc, the primary composition of this fake. A keen eye will note that in addition to the counterfeit’s color being wrong, there is also a yellowish tint on its high points, where it failed to strike up fully.

The red flags continue with the fake’s design. For instance, the rays of the sun are much too sharp; they should be more rounded. On the reverse, E PLURIBUS UNUM is shallow and fades into the field, as do the leaves on the branch.

An odd texture appears in the fields, likely the result of heavy die polishing. Additionally, horizontal lines run through Liberty’s dress. These are probably remnants from the die’s creation, which was most likely done with a computerized engraving process.

This fake serves as a reminder that counterfeiters don’t just target key dates. Remember, NGC backs its determinations of authenticity and grade with the NGC Guarantee.

A version of this article appears in the September 2025 issue of The Numismatist (money.org).