1938-D Walking Liberty Half Dollar

Among Walking Liberty half dollars struck after the low-mintage 1921 trio, the 1938-D stands out as the toughest date to acquire, particularly in higher grades. Collectors building a complete date-and-mintmark set of the series often find this coin the most challenging non-1921 issue to track down.

Its scarcity comes purely from a smaller-than-usual production run at the Denver mint that year, not from any design peculiarity.

By the late 1930s the US economy was recovering unevenly from the Depression, and Denver's half dollar output in 1938 lagged behind other branch mints and other years. The resulting low mintage went largely unnoticed at the time but became well known to collectors decades later as interest in the series grew.

Obverse: Liberty walking toward the sunrise, flag-draped, with laurel and oak branches; "LIBERTY" above, "IN GOD WE TRUST" to the right.

Reverse: Perched eagle beside a pine sprig, with the standard "UNITED STATES OF AMERICA," "HALF DOLLAR," and "E PLURIBUS UNUM" legends. Look for the small "D" mintmark on the reverse near the lower left, below "HALF DOLLAR," to confirm the Denver strike.

The 1938-D commands a solid premium over common-date Walking Liberty halves in every grade, from well-worn circulated pieces to gem mint state coins, where the combination of low mintage and strong demand can push prices into four figures or beyond for exceptional, well-struck examples.