1934-S Walking Liberty Half Dollar

San Francisco produced 3,652,000 half dollars in 1934, continuing as the only branch mint that had maintained Walker production through the early 1930s (via the 1933-S). The return of Philadelphia and Denver to half dollar coinage meant San Francisco was no longer carrying the denomination alone.

PCGS estimates 150,000 survivors across all grades, with 8,000 in Mint State and 1,200 at the gem level. San Francisco strike weakness continues to affect eye appeal on Mint State examples, though the problem is less severe on 1934-S coins than on many earlier "S" mint issues. David Hall notes that strike improved somewhat on San Francisco Walkers starting in the mid-1930s, and frosty, well-impressed pieces surface more frequently for this date than for the 1920s issues. Liberty's hand and the eagle's breast feathers still warrant close inspection on any prospective purchase. Circulated examples are available at standard pricing, and Mint State coins in the MS63 to MS64 range offer reasonable value for collectors building a complete date-and-mintmark set.