By Merak Coins
Pre-1937 U.S. commemorative half dollars are a fascinating and profitable area of numismatics. These historic silver coins were issued to celebrate significant events, people, and places in American history. Many of these early commemoratives are low mintage, beautifully designed, and have strong collector demand, making them excellent long-term investments.
This guide will walk you through the best pre-1937 commemorative half dollars to collect, how to build a profitable collection, and tips for buying and selling.
Why Collect Pre-1937 Commemorative Half Dollars?
Early U.S. commemorative half dollars (1892-1936) offer a unique combination of rarity, historical appeal, and value appreciation.
✅ Low Mintages – Many issues have fewer than 100,000 coins minted, making them highly collectible.
✅ Beautiful Designs – Some of the most artistic coin designs in U.S. history, including works by top sculptors.
✅ Historic Significance – Coins commemorate key moments like state anniversaries and famous figures.
✅ Numismatic Growth – Pre-1937 commemoratives have outperformed inflation over time.
Investment Strategy: How to Build a Strong Collection
A well-rounded commemorative half dollar collection should include:
- Key Rarities & Low Mintage Coins (40%) – Coins with strong historical demand and scarcity.
- Popular Mid-Tier Issues (30%) – Coins with growing value potential.
- Common Yet Desirable Coins (20%) – Affordable but still appreciating over time.
- Varieties & High-Grade Examples (10%) – Exceptional condition pieces or toners for premium value.
Top Pre-1937 Commemorative Half Dollars to Collect
1. Key Rarities & Low Mintage Coins (40% of Portfolio)
These coins are among the rarest and most sought-after early commemoratives.
✅ 1892 & 1893 Columbian Exposition – The first U.S. commemorative coin, issued for the Chicago World’s Fair.
✅ 1915-S Panama-Pacific Exposition – Low-mintage issue with strong collector demand.
✅ 1921 Alabama Centennial (Plain & 2×2 varieties) – One of the hardest to find in higher grades.
✅ 1921 Missouri Centennial – Rare with a low mintage of 50,028, a key issue for investors.
✅ 1935 Hudson, New York Sesquicentennial – One of the lowest-mintage U.S. commemorative coins (10,008 minted).
✅ 1936 Gettysburg Half Dollar – Low mintage, strong demand, and historical significance.
💡 Pro Tip: Focus on well-struck, problem-free examples, preferably graded by PCGS or NGC.
2. Popular Mid-Tier Issues (30% of Portfolio)
These coins have moderate mintages but consistently increase in value.
✅ 1922 Grant Memorial (With & Without Star varieties) – Celebrates Ulysses S. Grant; the “With Star” variety is scarcer.
✅ 1925 Lexington-Concord Sesquicentennial – Honors the start of the American Revolution.
✅ 1926 Oregon Trail Memorial – One of the most beautiful commemoratives, minted in multiple years.
✅ 1934 Texas Independence Centennial – A striking design featuring Sam Houston and an eagle.
✅ 1936 Rhode Island Tercentenary – Historically significant with strong demand.
💡 Pro Tip: AU-58 to MS-64 coins offer the best value, as higher grades command steep premiums.
3. Common Yet Desirable Commemoratives (20% of Portfolio)
These coins are more accessible but still excellent for long-term growth.
✅ 1920 Maine Centennial – Affordable with a classic eagle design.
✅ 1925 Stone Mountain Memorial – One of the most collected pre-1937 commemoratives.
✅ 1927 Vermont Sesquicentennial – Solid investment in mid-to-high grades.
✅ 1935 Arkansas Centennial – Available but low mintage makes it attractive.
✅ 1936 Bridgeport, Connecticut Centennial – Unusual design featuring P.T. Barnum.
💡 Pro Tip: These coins are ideal for building a foundational set without breaking the bank.
4. Varieties & High-Grade Coins (10% of Portfolio)
Rare varieties, toned coins, and MS-65+ examples can significantly increase in value.
✅ 1921 Alabama 2×2 Variety – Features a double “2” on the obverse, a prized rarity.
✅ 1926-S Oregon Trail Memorial – The San Francisco issue is harder to find in MS-65+.
✅ 1935-S San Diego Exposition – Scarce in high grades due to weak strikes.
✅ Monster-Toned Commemoratives – Naturally toned coins bring premium prices at auction.
💡 Pro Tip: Look for PCGS/NGC-graded MS-65+ coins for high appreciation potential.
Recommended Collection Plan Based on Budget
$1,000 – $2,500 Budget (Entry Level)
✅ 1925 Stone Mountain Memorial (MS-63, PCGS/NGC) – $250-400
✅ 1920 Maine Centennial (MS-63, PCGS/NGC) – $200-350
✅ 1936 Rhode Island Tercentenary (MS-64, PCGS/NGC) – $300-500
📌 Focus: Affordable, high-grade coins with strong collector interest.
$5,000 Budget (Intermediate)
✅ 1926 Oregon Trail (MS-64, PCGS/NGC) – $500-800
✅ 1921 Alabama Centennial (AU/MS-62, PCGS/NGC) – $1,000-1,500
✅ 1935 Texas Centennial (MS-64, PCGS/NGC) – $500-750
✅ 1936 Gettysburg (AU/MS-62, PCGS/NGC) – $1,000-1,500
📌 Focus: Add key dates while securing high-grade examples.
$10,000 Budget (Advanced)
✅ 1921 Missouri Centennial (AU/MS-62, PCGS/NGC) – $1,500-2,500
✅ 1915-S Panama-Pacific (AU/MS-62, PCGS/NGC) – $2,500-3,500
✅ 1922 Grant “With Star” (MS-63+, PCGS/NGC) – $2,000-3,000
✅ 1935 Hudson Sesquicentennial (AU/MS-62, PCGS/NGC) – $3,500-5,000
📌 Focus: Secure low-mintage rarities for long-term appreciation.
$25,000+ Budget (Elite Collector/Investor)
✅ 1892 Columbian Exposition (MS-65+, PCGS/NGC) – $5,000-7,500
✅ 1921 Alabama Centennial 2×2 (MS-63+, PCGS/NGC) – $7,000-9,000
✅ 1935 Hudson Sesquicentennial (MS-65, PCGS/NGC) – $10,000+
📌 Focus: Ultra-key rarities in high grades for maximum future value.
How to Store & Protect Your Collection
- Buy Only PCGS/NGC-Certified Coins to protect your investment.
- Use Coin Capsules or Holders to prevent toning or damage.
- Store in a Safe or Vault to ensure security.
- Keep Detailed Records to track appreciation and for resale.
Final Thoughts: Start Your Pre-1937 Commemorative Collection Today
Pre-1937 U.S. commemorative half dollars are a rewarding and lucrative collecting category. By focusing on key dates, historical significance, and high-quality coins, you can build a portfolio that appreciates over time.
📢 At Merak Coins, we offer premium pre-1937 commemoratives for collectors and investors. Join one of our live shows and check out our latest offerings and as always ask questions.