The Walking Liberty half dollar key dates are the three 1921 issues — Philadelphia, Denver, and San Francisco — plus the 1916-D and the 1938-D. The rarest of them, the 1921-D, had just 208,000 coins struck, the lowest mintage of the whole 1916–1947 series.
Every other Walking Liberty half is a common date that trades close to its silver content — 0.3617 oz of pure silver, worth $18.83 in melt at the current spot price. This page covers only the dates that carry a real premium, why they do, and how to spot them. Melt figure: Data by Bullion Price Check, silver spot $52.07/oz, data as of November 8, 2026, 12:53 AM ET; the full melt breakdown is in our Walking Liberty silver content and melt value guide. Figures checked November 8, 2026.
The Key Dates at a Glance
| Date & mint | Mintage | Typical circulated | Typical uncirculated |
|---|---|---|---|
| 1921-D Denver | 208,000 | $350–$600 | $10,000+ |
| 1921 Philadelphia | 246,000 | $300–$500 | $5,000+ |
| 1916-D Denver | 284,000 | $250–$400 | $1,500+ |
| 1938-D Denver | 491,600 | $75–$125 | $450+ |
| 1921-S San Francisco | 548,000 | $35–$60 | $7,500+ |
The 1921-S is the odd one in the table: it is only mildly better than a common date when worn, but so few survived in high grade that mint-state examples jump straight into five figures. Collectors call that a condition rarity, and it is why a single mintage column never tells the whole story.
The 1921-D: King of the Series
The 1921-D is the key every Walking Liberty set is built around. Denver struck fewer half dollars in 1921 than any other mint struck in any year of the series, and the coins that survive are usually worn — the date circulated hard. A problem-free example in any grade is a genuine find. We gave it its own guide: the 1921-D Walking Liberty half dollar, with identification checks and a grade-by-grade value ladder. Its Philadelphia sibling has a guide of its own: the 1921 Walking Liberty half dollar.
Why These Five Carry the Premium
Three of the five keys come from a single year: in 1921 the Mint cut half dollar production to a fraction of normal while it retooled for the new Peace dollar, so Philadelphia, Denver, and San Francisco all struck tiny numbers. The 1916-D is a first-year-of-issue coin from the smallest early mintage, and it carries its D mintmark on the obverse — the mintmark moved to the reverse partway through 1917. The 1938-D is the last low-mintage Denver issue before production ramped up for the war years, which is why it is the one key most collectors can still afford.
Semi-Key Dates Worth a Second Look
- 1916-S (508,000 struck) — the first-year San Francisco issue; a solid premium in every grade. It has its own guide: the 1916-S Walking Liberty half dollar.
- 1917-D, obverse mintmark (765,400 struck) — only the early 1917 Denver coins carry the D on the front; the later 1917-D with the mintmark on the reverse is common.
- 1927-S (396,000 struck) — a low mintage that stayed cheap for decades because few were saved; better dates hide here.
How to Check Your Own Coins
Read the date first, then find the mintmark. On 1916 and early-1917 coins the mintmark sits on the obverse, in the right field below IN GOD WE TRUST; on everything after, it is on the reverse at the lower left, near the rim under the eagle. A 1921 date with any mintmark — or no mintmark — is a key-date coin, and a 1916-D or 1938-D is worth setting aside too. Do not clean anything: a cleaned key date can lose half its value, and the coins on this page are exactly the ones where that mistake costs real money. For a half dollar you believe is a high-grade key, professional certification is what turns a strong opinion into a price a buyer will pay.
Common-date Walking Liberty halves are 90% silver staples that trade by the $1 face-value lot — two coins to the dollar of face value. Our $1 FV 90% Silver Walking Liberty Half Dollars – BU lot is $108.99 and in stock at the time of writing. To see where the half dollar sits against every other U.S. silver coin, the melt chart on our Coin Values page prices the whole series side by side.
Frequently Asked Questions
What is the rarest Walking Liberty half dollar?
The 1921-D. Denver struck 208,000 of them, the lowest mintage of any Walking Liberty half dollar struck from 1916 to 1947.
How much is a Walking Liberty half dollar worth?
A common date is worth its silver — $18.83 in melt at the November 8, 2026 spot price — plus a small collector premium. The five key dates on this page run from about $75 circulated for a 1938-D into five figures for mint-state examples of the 1921 issues; the full melt math is in our silver content and melt value guide. For what each date sells for as a collectible, see Walking Liberty half dollar value by date and grade.
Where is the mintmark on a Walking Liberty half dollar?
On 1916 and early-1917 coins it is on the obverse, below IN GOD WE TRUST. From mid-1917 onward it moved to the reverse, at the lower left near the rim.
Are Walking Liberty half dollars silver?
Yes. Every Walking Liberty half dollar is 90% silver and holds 0.3617 oz of pure silver, the same as every other pre-1965 U.S. half dollar.
Values here are typical dealer reference ranges checked November 8, 2026, not a quote or an offer to buy. An individual coin’s value depends on its grade, strike, and surfaces.