Walking Liberty half dollar values.

The 30-second version

Every Walking Liberty half dollar contains 0.3617 troy oz of pure silver, so a circulated common-date piece is worth at least its silver content — typically $10–$16 wholesale at current silver prices. Uncirculated common dates run $20–$60. The series’ key dates and high-grade specimens command much more — $100 to several thousand dollars apiece.

Mint marks and how to read them

On Walking Liberty halves, the mint mark moves between obverse and reverse depending on year:

• 1916 and part of 1917: mint mark on the obverse, lower left below the motto.
• Most of 1917 through 1947: mint mark on the reverse, lower left below the eagle.
• P (Philadelphia):no mint mark on Walking Liberties — Philadelphia issues are unmarked.
• D: Denver Mint.
• S: San Francisco Mint.

Key dates — the ones that matter most

These are the dates and mint marks that carry real premiums in any grade:

• 1916 (P, D, S)— the first year of issue. Even worn examples bring $40–$120; mint state can reach $300–$2,000+.
• 1921 (P, D, S)— the toughest year of the series. Circulated coins sell for $80–$400; mint state examples can hit $2,000–$15,000+.
• 1938-D— the lowest-mintage Denver issue. Circulated: $50–$120. Mint state: $200 to well into four figures.
• 1917-S obverse mint mark and 1919 (all mints)— semi-keys, worth more than common dates but not in the same league as the 1916 or 1921 issues.

If you have any 1916 or 1921 Walking Liberty in hand, treat it like a key date: leave it alone, don’t clean it, and have it looked at by a numismatist before doing anything else.

Common dates: what most Walkers are worth

The vast majority of Walking Liberty halves in collections are common dates from the 1930s and 1940s. Approximate wholesale prices today:

• Worn (G–VG):close to silver melt — roughly $10–$13.
• Fine to Extremely Fine (F–XF): $13–$22.
• About Uncirculated (AU): $18–$35.
• Mint State 60–63: $30–$70.
• Mint State 64–65: $70–$200.
• Mint State 66–67: $250–$1,000+— the gem grades pay.

Strike quality matters — especially the head

Walking Liberty halves are notoriously weakly struck. The center of Liberty’s head and the eagle’s feathers are the first details to disappear. Coins designated FH (Full Head)by PCGS or NGC — with the full details on Liberty’s head — sell at a meaningful premium over the same date and grade without the designation.

“Roll” and “junk silver” pricing

Walking Liberty halves are part of the “junk silver” market — pre-1965 U.S. silver coinage traded by weight at a modest premium over melt. A standard $1,000 face-value bag of 90% silver halves contains about 715 troy oz of silver. Most Walkers from common dates trade in this market unless they are uncirculated or rare.

Do not clean them

Walking Liberty halves often tone naturally over the decades into beautiful blues, golds, and grays. That toning is a positive feature to collectors. Wiping or polishing it off can drop a coin’s value by 30–70%. See our separate guide on why cleaning is the worst thing you can do.

What to do next

If you have Walking Liberty halves, the practical path:

1. Sort visually by date and mint mark (no mark = Philadelphia, D = Denver, S = San Francisco). Do not clean or remove from holders.
2. Pull aside any 1916, 1921, or 1938-D coins, and any coin that looks visibly uncirculated.
3. Photograph the front and back of each notable coin under indirect light. Phone photos are fine.
4. Send the photos to a working numismatist for a free appraisal.