1937 Walking Liberty Half Dollar
Anyone who is considering collecting a complete set of Walking Liberty half dollars (1916-47) should take a good, hard look at the first decade of the series. Collectors can expect to pay thousands of dollars for Walking Liberty halves with several date-and-mintmark combinations in About Uncirculated or low Mint State, especially the 1921 issues from all three mints. (This respected coin’s obverse design is so magnificent that it has been used on silver American Eagles since their 1986 inception.)
Those looking for a type coin can find many affordable options later in the series, including the 1937 issue from Philadelphia, which can be found for about $100 in low Mint State. Numismatic Guaranty Company (NGC) recently received a purported example of this coin. Although it has the correct weight, it was struck in copper and nickel instead of the expected 90-percent silver. The use of these less dense metals resulted in the coin being too thick. In addition, its surface is too grainy and has a matte-like appearance, with a more satiny luster than genuine examples exhibit.
The details on the fake are very soft, and the high points were not well-struck, leaving behind a yellowish color and roughness from the blank planchet. The initials of designer Adolph A. Weinman (located on the reverse to the right of DOLLAR) are mushy on the counterfeit compared to the genuine example.
A glaring problem with the design itself can be found in the lines around the sun, which are actually too strong on the counterfeit. The rays are wider and more nuanced on the genuine example, which is particularly noticeable to the right of the sun’s disc.
Both the 1937-S and 1937-D issues have a significantly higher numismatic premium in Mint State, so it’s possible the counterfeiter targeted the more common 1937 issue from Philadelphia because they were counting on people skipping third-party certification. NGC, which has certified more than 300,000 Walking Liberties, backs its determinations of authenticity and grade with the NGC Guarantee.
A version of this article appears in the November 2024 issue of The Numismatist (money.org).