1927-S

Production resumed at San Francisco in 1927 after a three-year gap during which no Walking Liberty half dollar was struck at any United States mint between 1924 and 1926. The 2,392,000 coins released that year carry semi-key status because of how long the design had been absent from circulation and because survival rates skew toward circulated grades. With no Walkers entering pockets for several years, banks and merchants in the West absorbed the new coins quickly, and few were set aside in original Mint State condition. Today the 1927-S sits comfortably in the second tier of Walker date difficulty, just below the 1921 trio and 1923-S in absolute scarcity but ahead of most common dates from the 1930s and 1940s.

Strike on the 1927-S is somewhat better than the 1923-S but still shows the typical San Francisco softness on Liberty's hand and the eagle's central feathers. Luster is often satin with a slight cartwheel, and surfaces should show no friction wear on the highest points if certified Mint State. Counterfeit concerns are lower than on the 1921 keys, but altered date or added-mintmark fakes do appear, particularly attempts to create the date from a 1937-S or other San Francisco issue. The S mintmark punch should match the style used at San Francisco during the late 1920s, generally a serifed device with clean edges and consistent depth. Verify weight at 12.50 grams and diameter at 30.61 mm. Cherrypickers' Guide lists die markers that help confirm originality, and Professional Coin Grading Service (PCGS) and Numismatic Guaranty Company (NGC) reference photos document the typical die state of high-grade examples.

Auction prices for the 1927-S reflect its semi-key position. Heritage Auctions has brought MS65 examples into the four-to-five thousand dollar range, with MS66 coins reaching the low teens depending on strike and eye appeal. Circulated grades remain very accessible, with VF and XF examples available to collectors building a full date set without breaking the bank. Registry competitors focus on the date for its strike challenge and original luster, both qualities that command a premium when present. Continue with the Walking Liberty Half Dollar series history.