Walking Liberty Half Dollar Short Set

From 1907 to 1921, during what became known as the “Renaissance of American Coinage,” every U.S. coin denomination was redesigned in what Roger Burdette calls “the most radical redesign of the nation’s coinage ever attempted.”

After years of complaints about the artistic quality of the Barber silver dimes, quarters and half dollars, in 1915 Treasury Secretary William G. McAdoo instructed U.S. Mint Director Robert W. Wooley to develop new designs for each of those coins, which was the first time our coins of those denominations each had their own designs.

This led to the famous design competition the Mint organized in which invitations to submit designs was limited to a group of about a dozen accomplished artists, including Adolph Weinman. Weinman’s designs for the dime and half dollar were both approved, and the half dollar was the one he viewed as the most important based on documents from the artist.

His obverse design of a confident, striding Lady Liberty walking towards to the dawn of a new day while draped in an American flag and carrying laurel and oak branches was an instant hit because of its beauty and patriotic symbolism. The reverse shows an eagle perched on a mountain with its wings unfolded.

This popular design is widely viewed as partially inspired by the famous French Sower coin designed by Oscar Louis Roty that depicts a French farm girl sowing seeds in a field.

Weinman’s half dollar became known as the Walking Liberty half dollar, and it remains ones of the most popular and widely collected 20^th century American coins, whose design was reprised for the American Silver Eagle in 1986.

Issued from 1916 to 1947, this series achieved popularity in the 1940s after the American economy had recovered from the Great Depression and albums for coins such as this one that began to emerge in the 1930s were being made in large numbers. As it happened, the albums for the Walking Liberty silver half dollar included one for 1916 to 1940 and a second one for 1941 to 1947. The reason for cutting off the first album was simply that there was only enough room for those coins.

Short Set

Because of that, the second album, which was much easier to assemble from circulation, including in mint state, became a popular alternative to assembling a full set of these coins and is known as “the Short Set,” which is still widely collected to this day.

Interest in the short set is driven by appreciation for the gorgeous design and by the set’s accessibility, not to mention the popularity of collecting coins from the World War II era.

In circulated condition, almost every coin in the short set except the scarce 1941-S, trades as silver bullion because they were minted in the tens of millions with a large number of coins still in existence.

And mint state examples of the Walkers, as some call them, are still readily available with the exception of the highest graded pieces. A nice BU set can be had for a little over $1,000.

During the first two decades these coins were issued, relatively few people collected them, which is why mint state examples of those coins are very scarce today, particularly the coins from 1916 to 1933. In addition, among those who could afford to collect coins during this period, far more focused on lower denomination issues like the Mercury dime or Standing Liberty quarter rather than the Walker.

Those who did collect this series usually opted for just one example for each year without regard to where it was minted, which was also true of other U.S. coin series at the time. A complete circulated set can be had for $1700.

In 1941 that situation changed when the Mint began issuing the Walking Liberty coins at three mints – those in Philadelphia, Denver and San Francisco, which helped increase interest in collecting these coins by mint mark.

From the start of the series in 1916 production problems were encountered, especially related to getting nice strikes, which led to a series of modifications to the design and which is why it is hard to find Walkers, especially from the San Francisco Mint, that have good strikes, specifically in the higher-relief portions of the design at the center of both sides.

During the silver craze of 1980 when the Hunt brothers manipulated the market and drove silver to $50 an ounce, millions of these coins were melted down.

A full short set consists of just 20 coins that are still quite affordable all the way to MS66 coins. It is coins that grade MS67 and the very few (about 150 for all dates graded by PCGS and NGC) that grade MS68 that are a challenge to find but which are also the ones with the greatest potential to increase in value.

Lulu Collection Short Set Sets Record

In June the finest graded Walking Liberty short set that ranks as the all-time finest PCGS Registry Set for these coins was sold at auction, when it garnered an impressive $971,340!

The set includes three coins that grade MS68+ -- the highest grade ever given to any coin in this series – which includes the Philadelphia Mint coins from 1941, 1942 and 1943. 13 of the coins in this set sold for record prices when this amazing short set was sold.

The 1941-S in this set, which is the key date coin as far as the number of coins that have survived in mint state since most entered circulation, grades MS67 and is one of only 11 coins that have received that grade with none finer.

Many of the coins in this set have populations in the grade of those coins of only 1 or 2, and only the 1944-D and 1946 coins exist in a grade higher than the ones in the set. And all but one have stickers from CAC – Certified Coin Acceptance.

1941 Walking Liberty

This coin from the collection, which grades MS68+, sold for $50,000.

1942 Walking Liberty

This, graded MS68+, one sold for an impressive $78,000

1943 Walking Liberty

This coin that also graded MS68+ sold for an amazing $120,000 – the most ever paid for a coin of the Walking Liberty half dollar short set.

1944 Walking Liberty

Graded MS68, the 1944 coin in this set also realized a new record for this issue of $84,000, which was more than twice the PCGS Price Guide value for this one.