The 1950-P Franklin Half Dollar is one of about 20 different issues that has a mintage under 10 million for the series. There are about 15 other issues which have a mintage of over 10 million. Therefore, the 1950-P is considered somewhat of a semi key date.
Circulated examples are very easy to come by. Examples in Uncirculated MS60-MS65 condition also seem to be abundant. Only in MS66 does it become scarce with possibly still a few thousand in existence. In MS67 condition it becomes scarce with possibly less than 100 examples in existence.