In a small town in Ohio, a remarkable discovery has stunned both numismatists and local residents: a Kennedy half dollar unearthed from a decades-old time capsule has been appraised at a value exceeding that of an average American home.
A Forgotten Piece of History
The discovery occurred during the demolition of an old public library in Middletown, Ohio, where workers stumbled upon a sealed copper box embedded in the building’s cornerstone. Inside, along with yellowed newspapers, vintage photographs, and handwritten letters, was a single coin encased in a velvet-lined plastic holder — a 1964 Kennedy half dollar.
Initially overlooked as a common commemorative coin, the half dollar drew attention when local historian Dr. Elise Monroe noted the mint mark and unusual luster. The coin was sent to the Numismatic Guaranty Company (NGC) for authentication, where it was graded as a 1964 SMS (Special Mint Set) Kennedy Half Dollar, one of only a few known examples in existence.
What Makes It So Valuable?
To the untrained eye, the Kennedy half dollar may look like pocket change. However, the 1964 SMS variety is incredibly rare. Most 1964 half dollars were struck for general circulation, but a small batch — believed to be fewer than 20 — were minted under mysterious circumstances at the Philadelphia Mint, exhibiting a satin finish, sharply defined details, and no contact marks.
“Finding one of these coins in any condition is extraordinary,” said Paul Davidson, a senior appraiser at NGC. “This particular specimen is in near-pristine condition. It may well be the finest known example.”
Experts estimate its market value at $250,000 to $500,000, depending on auction interest — a figure well above the median U.S. home price of $420,000.
Local and National Reactions
News of the discovery has electrified the coin collecting community. “It’s like finding a Picasso at a garage sale,” said numismatics blogger Linda Carver. Local residents, meanwhile, are thrilled that their quiet town has become the center of a national story.
“We were expecting old books and maybe a few war bonds,” said project supervisor Martin Ellis. “No one imagined a coin that could buy you a house.”
What Happens Next?
The coin is scheduled to be auctioned later this year by Heritage Auctions, and the proceeds will go toward the town’s historical preservation fund, as stipulated by the original time capsule letter dated July 4, 1965.
“This discovery is a perfect reminder of how history — and hidden treasure — can be right beneath our feet,” said Dr. Monroe.
As buzz continues to build around the auction, collectors around the world are keeping a close eye on what may become one of the most expensive Kennedy half dollars ever sold.
Did You Know?
The Kennedy half dollar was first minted in 1964, just months after President John F. Kennedy’s assassination. It was intended as a tribute to the fallen leader and quickly became a popular collector’s item.
Frequently Asked Questions (FAQs..)
Q1: What exactly was found in the time capsule?
A: A 1964 Kennedy half dollar, along with newspapers, photographs, and handwritten documents, was discovered inside a time capsule embedded in the cornerstone of a demolished library in Middletown, Ohio.
Q2: Why is the Kennedy half dollar so valuable?
A: This specific coin is believed to be a 1964 SMS (Special Mint Set) Kennedy Half Dollar, an ultra-rare variety with a special satin finish and sharp strike. Fewer than 20 are known to exist, making it highly sought-after by collectors.
Q3: What does “SMS” mean in coin collecting?
A: SMS stands for Special Mint Set. These coins are struck with more care than regular circulation coins, often featuring a matte or satin finish and sharper details. The 1964 SMS coins are especially rare because they were never officially released to the public.
Q4: How much is this coin worth?
A: Experts have appraised the coin at $250,000 to $500,000, depending on its condition and interest at auction. This is significantly more than the current median home price in the U.S., which is around $420,000.
Q5: How was the coin preserved so well for over 60 years?
A: The coin was stored in a sealed, velvet-lined holder within the time capsule, which was protected inside a copper box. The capsule’s airtight seal helped preserve the coin in nearly pristine condition.
Q6: Who owns the coin now?
A: Ownership has reverted to the city of Middletown, as the contents of the time capsule were intended for public benefit. The city plans to auction the coin and use the funds for local historical preservation.