Ron Guth:
In 1869, employees at the Philadelphia Mint churned out less than one million Half Dollars (796,300 to be exact). This mintage level was typical, if not above-average, for the period. As such, the 1869 Half Dollar commands only a small premium over the normal "type" coin of the era. In Mint State, the 1869 Half Dollar is fairly common, but the average quality trends low (MS61 to MS63). Above MS64, the 1869 Half Dollar is a condition-rarity and MS66 appears to be the highest achievable grade.