1964 Kennedy Silver Half Dollar, proof, as pictured.
The Kennedy half dollar was first minted in 1964. Intended as a memorial to the assassinated 35th President of the United States John F. Kennedy, it was authorized by Congress just over a month after his death. Use of existing works by Mint sculptors Gilroy Roberts and Frank Gasparro allowed dies to be prepared quickly, and striking of the new coins began in January 1964.
The silver coins were hoarded upon their release in March 1964 by collectors and those interested in a memento of the late president. Although the Mint greatly increased production, the denomination was seldom seen in circulation. Continued rises in the price of silver increased the hoarding—many early Kennedy half dollars have been melted for their silver content. Starting with 1965-dated pieces, the percentage of fine silver was reduced from 90% to 40% (silver clad), but even with this change the coin saw little circulation.
In 1971, silver was eliminated entirely from the coins and production increased, but the half dollar still saw only a minor increase in usage. A special design for the reverse of the half dollar was issued for the United States Bicentennial and was struck in 1975 and 1976.