Contents:
The 1939 Half Dollar was issued during World War II, when the U.S. sought to stay out of the war. So, we can see why it’s made of 90% silver, because the economic crisis was only ahead for the country.
The melt value of such a coin is pretty low, but it’s pretty valuable as a piece itself, because of the year it was minted and the silver artwork. If you think that you got one, then try to use a coin finder app to see if it’s real (it’s an old coin and there are plenty of counterfits, of course.
Artistic Design and Symbolism of the 1939 Liberty Half Dollar
Adolph A. Weinman created the Walking Liberty Half Dollar back in 1916, and they used this design for a 1939 piece.
Obverse: Liberty strides toward the sunrise, draped in the American flag, carrying branches of laurel and oak. These are the symbols of peace and strength
Reverse: a bald eagle perched on a mountain ledge, wings half open, ready to lift
The 1939 Walking Liberty Half Dollar surfaces show soft toning or cartwheel luster when uncirculated.
Minting Information and Varieties
“While coins were definitely being saved by the roll in 1939, mintages for the 1940s issues were much higher and roll "saving" was in full force in the 1940s. The typical 1939 is very well struck. Luster can by frosty white and there are also many lightly golden toned iridescent gems.”
— David Hall, an American numismatist
from the PCGC coin page
The biggest part of the production of this piece was handled by the Philadelphia mint (about 6.8 million struck). San Francisco released the 1939 S Walking Liberty Half Dollar, but in much smaller quantities. So if you have one, you are really lucky, because it is much scarcer in higher grades. Denver didn’t mint any that year.
Mint marks appear on the reverse, below the branches near the rim. Again, there is no mark for Philadelphia, and an “S” for San Francisco. Both issues have similar specifications:
12.5 grams
90% silver, 10% copper
30.6 millimeters wide
a reeded edge
The coin has 0.3617 troy ounces of silver, so, as a melt value the its price is $17.68 (as of October 2025).
1939 Half Dollar Value — What Determines Its Worth
Philadelphia issues are pretty common in lower grades. The San Francisco issues have weaker strikes, but they also cost more (if they are clean and have no damage). As of November 2025, the average prices for those are:
1939 (No Mint Mark) | 1939-S Issue | |
Good (G-4) | $15 | $18 |
Fine (F-12) | $20 | $25 |
Extremely Fine (XF-40) | $35 | $45 |
Mint State 60 | $65 | $90 |
Mint State 65 and up | $175 + | $250 – $400 |
Of course, your possession would be more pricey if it has natural toning, minimal contact marks, and crisp detail in Liberty’s hand and the eagle’s feathers. It may actually rise in price if you decide to keep a 1939 Liberty Half Dollar and store it in appropriate conditions.
Conclusion
You need to have a perfect condition and a San Francisco mint mark written on this coin if you want to sell your piece for a high price. Average circulated coins are mostly dependent on silver prices; uncirculated pieces, like with any other coin, can cost much more.
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