Preliminary identification

1923-S Walking Liberty Half Dollar

Photo reference

3 uploaded photos

Overview

A 90% silver half dollar featuring Adolph A. Weinman’s iconic 'Walking Liberty' design, struck during a pivotal year in American history. This specific coin bears the 'S' mint mark on the reverse, identifying it as a product of the San Francisco Mint.

Story

1923 was a year of silence for American half dollars—except in San Francisco. Due to a post-war economic slump, only this mint struck the denomination that year. Most were spent into oblivion, making surviving examples like this one a rare link to the jazz-age economy.

Maker / Origin

Adolph A. Weinman, a German-born student of the legendary Augustus Saint-Gaudens, won a 1916 competition to redesign the nation's silver. His 'Walking Liberty' is so beloved that the U.S. Mint revived it in 1986 for the American Silver Eagle bullion coin.

Condition & Value

The coin shows honest circulation wear consistent with a grade of Very Good to Fine. Liberty's gown lines are partially smoothed, and the eagle's feathers show wear, but the date and 'S' mint mark remain clear. This level of wear is typical for a coin that served as a workhorse of the 1920s economy. This is a 'condition rarity' year.

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Sold comps, value drivers, and venue guidance pulled from recent auction results.

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Market Analysis

Comparable demand stays strongest where maker, originality, and venue confidence line up. Broader examples still trade, but the range tightens quickly when provenance, condition, or selling lane fit is missing.

Value Drivers

  • Strong maker attribution with credible period details
  • Better-than-average condition for the category
  • Broader demand rises when presentation and finish feel intact

Concerns

  • Decorative-only demand limits the ceiling
  • Surface wear or missing provenance can compress the range fast
  • Regional sale lanes often underperform specialist venues

Best Venue

Specialty auction or a focused dealer with buyers already in this lane.

Comparable Sales

5 comps
Regional auction· Jun 2024
$1,280

Signed example with light edge wear and original frame.

Dealer archive· Mar 2024
$1,450

Comparable format with stronger provenance and cleaner surface.

Marketplace sale· Jan 2024
$980

Smaller related piece with visible craquelure and trimmed margins.

Estate platform· Oct 2023
$1,150

Period match with softer condition and weaker subject matter.

Auction result· Aug 2023
$1,375

Close market lane comp with similar material and presentation.