Minted between 1916 and 1947, the Walking Liberty half dollar is a relatively long-running series, with some key dates in its first decade, along with the 1938-D half dollar being a later semi-key, all factors that make it an expensive complete set to assemble in higher grades

Collectors often turn to the 20-coin “Short Set” of 1941 to 1947 Walking Liberty half dollars as an affordable option that can be assembled in Mint State grades at a reasonable cost. Stack’s Bowers Galleries will offer an extraordinary “Short Set” as separate lots at its Costa Mesa auction, with live bidding on June 10 and 11, followed by Internet-only sessions June 14 to 16. The auction will be the first at the firm’s new Costa Mesa, California headquarters.

The Lulu Collection is the #1 all time-finest Professional Coin Grading Service Walking Liberty Half Dollars Short Set, 1941–1947 Registry Set. Stack’s Bowers says, “Nearly all 20 half dollars in the Lulu Collection Short Set rank at the very top of the PCGS Population Report, with the majority also approved by Certified Acceptance Corp.,” adding that the set was put together with a goal of exceptional eye appeal and superior surface quality. The auctioneer calls the set “perhaps the most important offering of short set dates in decades.”

The demand for the short set is fueled by its accessibility, with additional interest coming from World War II enthusiasts looking for a challenge. In circulated grades the set can be assembled at prices close to the “melt” value of the bullion. Adolph A. Weinman’s obverse design was revived in 1986 for the American Eagle 1-ounce silver bullion coin program, making the design familiar to today’s collectors and bullion enthusiasts. 

The origin of the “Short Set” has been attributed to coin albums that grouped 1916 to 1940 half dollars in one album and 1941 to 1947 issues in a second one. PCGS co-founder David Hall has pointed out that the 1940 cutoff date “was rather arbitrary and had little to do with anything significant about the series or the date, it was just the point at which the first album ran out of space.”

Top graded ‘Walkers’

PCGS has graded fewer than a dozen Walking Liberty half dollars MS-68+ and the offering has three of them. The set’s Philadelphia Mint 1942 and 1943 issues both carry green CAC stickers. The 1942 “Walker” is the finest-certified by PCGS, and the cataloger says that it “really needs to be seen to be fully appreciated.” The cataloger praises the toning on both sides before adding, “The surfaces are intensely lustrous, the strike is full, and the preservation is at the threshold of perfection.”

The set’s frosty 1943 Walking Liberty half dollar is one of just two in this grade and “features delicate pinkish-lavender and pale gold iridescence on intensely lustrous surfaces.” Both the 1942 and 1943 issues are high-mintage World War II era productions that are easily found even in higher Uncirculated grades, but “Examples that approach perfection, however, are exceedingly rare and present an imposing challenge to even the most persistent of collectors.”

The key in the “Short Set” is the 1941-S Walking Liberty half dollar that has a mintage of 8,098,000 pieces of which most entered circulation, making Mint State survivors somewhat scarce. The Lulu example is graded MS-67 by PCGS and is one of just 11 certified by that service in this grade, with none finer. The San Francisco Mint issue is often found poorly struck at the centers, making Liberty’s left hand resemble a claw, and many suffer from weak eye appeal. The offered example has a bolder strike than often seen, and the cataloger praises its “overall brilliant and pearlescent beauty, with just subtle traces of antique silver iridescence.”

Connect with Coin World:  
Sign up for our free eNewsletter
Access our Dealer Directory  
Like us on Facebook  
Follow us on Twitter