The 1903 Half Dollar is not as common as some of the other dates in the series, but it is hard to call it underrated with the information we have from the Population Reports. The 1903 Half Dollar is readily available in Mint State, especially in MS64. The PCGS CoinFacts Condition Census starts at MS65 (indicative of the overall quality of this date), and tops out at MS67. The strike on 1903 Half Dollars is strong in general, but finding an example with full horiozontal lines in the shield can be a real challenge. The finest 1903 Half Dollars hail from the usual array of big-name Barber collectors: Price, Friend, Duckor, and Shireman. These collections have all been dispersed, so new collectors have an opportunity to upgrade and improve their holdings.