If you’re looking to invest in silver, a good option would be to buy Pre-1965 U.S. silver coins, including half-dollars, dimes and quarters. Known as Ninety Percent Silver coins, or junk silver coins, these are made of 90% silver and 10% copper.

Of these, the half-dollars, also known as “fifty-cent pieces” and “halves”, have the highest value because they have the most silver content. They’re also less in number, and have not endured as much wear and tear as dimes and quarters, as they were not as widely circulated.

Half-dollars are still in circulation today, but their use has greatly diminished. The U.S. Mint stopped producing them in 2002, and will start minting again only if the reserve supply runs low. The only half-dollars minted after 2002 have been for collectors, but some of these have somehow found their way into circulation.

History

Here’s a look at the long and storied history of the American half-dollar:

• Half-dollars with 90% silver content were first minted for circulation in 1794. The obverse shows Miss Liberty with flowing hair (hence the name “Flowing Hair” half dollar), eight stars on the left and seven stars on the right, the word “Liberty” and the year of the minting.
• In 1796, the design on the obverse was changed to the Draped Bust of Miss Liberty. The number of stars varied from 13 to 16 on the coins produced from 1796 to 1798.
• Mintage of the half-dollar was halted in 1798, and resumed in 1801. The new half-dollar had the same Draped Bust design and 13 stars on the obverse, but the design on the reverse was changed from the “small eagle” to the “heraldic eagle”, which was adapted from the Great Seal of the United States.
• Halfway through 1807, the half-dollar design was changed again. The obverse still featured a half-bust Miss Liberty, but this time facing left, and wearing a cap with a ribbon inscribed with “Liberty”. This is known as the Capped Bust design. The reverse shows an eagle on an olive branch, holding three arrows.
• In 1836, the size of the half-dollar was reduced and the ridged edge was introduced
• In 1839, the design was changed to Liberty Seated, which features Miss Liberty seated on a rock, holding a pole with the liberty cup, and a shield inscribed with “Liberty”. There had been several variations of this design from 1839 to 1891.
• The Barber Half Dollar was introduced in 1892, featuring Miss Liberty’s bust as designed by Charles E. Barber on the obverse. The reverse shows a variation of the United States Seal, with the eagle holding an olive branch and arrows, and a ribbon on its beak with the inscription “E Pluribus Unum”.
• Sculptor Adolph A. Weinman’s Walking Liberty design was introduced on the obverse in 1916. The reverse shows an eagle perched on a crag with a pine branch. The design saw several variations until 1947.
• In 1948, the half-dollar design was changed to feature the bust of Benjamin Franklin on the obverse and the Liberty Bell on the reverse.
• In 1964, a few months after the assassination of Pres. John F. Kennedy, the Kennedy half-dollar was introduced. The obverse shows the late president’s bust, and the reverse shows an adaptation of the United States Seal.
• Because of the rising value of silver, exceeding that of the coin’s face value, the silver content of the Kennedy half-dollar was reduced to 40% from 1964 to 1969. However, limited collector’s edition coins with 90% silver were minted after 1964.
• Starting in 1964, the half-dollar gradually disappeared from circulation as the value of silver climbed, prompting people to hoard their coins
• In 1971, Kennedy half-dollars without any silver content were circulated, but by this time, the public had grown accustomed to the absence of this denomination.

The most popular half-dollar is the Walking Liberty, which is generally sold at a higher premium than other junk coins. Older coins, particularly those minted in the 19^th century and earlier, are rarer and have greater collector’s value. Some, however, are surprisingly affordable, while others with limited minting are highly valuable.