1928 50C Hawaiian (Regular Strike)

1928 Hawaiian Sesquicentennial Half Dollar

The 1928 Hawaiian Sesquicentennial Half Dollar (#9309) was struck to commemorate the 150th anniversary of Captain James Cook’s arrival at the Hawaiian Islands in 1778. While the legislation framed this as a "discovery," the indigenous population was, of course, well-established long before Cook's arrival.

Design and Symbolism

The coin was designed by Honolulu-born painter Juliette May Fraser and engraved by sculptor Chester Beach.

• Obverse: Features the profile of Captain James Cook facing left toward a ship's needle (compass). Eight triangles represent the eight main Hawaiian islands. Beach’s initials, CB, are located at the base of the bust.
• Reverse: Depicts a Hawaiian chieftain in ceremonial dress standing on a cliffside, overlooking the iconic Diamond Head landmark.

Production and Distribution

In June 1928, the Philadelphia Mint struck the total mintage of 10,008 pieces. The distribution was split, with approximately half shipped to Hawaii and the remainder sold on the U.S. mainland. To prevent hoarding, a five-coin limit was placed on individual orders. Notably, 200 specimens were initially held back for special presentation purposes, among them 50 Sandblast Proofs.

Collecting the Hawaiian Half Dollar

The Hawaiian Sesquicentennial is notoriously difficult to find in high grades due to widespread mishandling. The first points to show wear or "stacking" friction are Captain Cook’s cheekbone and the chieftain’s fingers on the reverse.

Because of its high value and scarcity, the issue has been frequently counterfeited. Collectors should note:

• Prooflike Fakes: No genuine Prooflike (PL) specimens exist; any coin with mirrored fields is a counterfeit.
• Sandblast Fakes: Counterfeit sandblast proofs often exhibit a distinct yellowish tint that differs from the matte grey-gold luster of the 50 genuine sandblast proofs.

Vintage Market Snippets

The coin has been a "blue chip" commemorative since its inception. Early market highlights include:

• 1936: Dealer William Rabin advertised examples for $12.50—at the time, only the 1915-S Panamana-Pacific Half Dollar (#9357) commanded a higher price ($15). Simultaneously, Tatham Coin Co. offered them for $11.
• The Ripstra Hoard: According to PCGS Hall of Fame dealer Abe Kosoff, Chicago collector J. Henri Ripstra nearly cornered the market, eventually offering Kosoff a lot of 800 pieces at $20 each.
• 1964: By the mid-1960s, the market price had climbed to $600 per coin, signaling its transition into the upper echelon of U.S. commemoratives.

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The Hawaiian commemorative half dollar, struck to commemorate the sequicentennial (150th anniversary) of Captain Cook's landing in the Hawaiian Islands in 1778, was a rousing success. Unlike many other silver commemoratives, especially those struck in the "abusive" commemorative era of 1935-1939, the Hawaiian was a legitimate anniversary, a relatively low mintage coin, and a "honestly" distributed issue. The Hawaiian halves were sold at an issue price of $2 by the Bank of Hawaii. The original 10,008 coins minted sold out immediately, even though the $2 issue price was the highest of any commemorative half dollar to that point.

The Hawaiian half dollars were widely distributed and, because of thier relatively low type mintage and earlier issue date, they are somewhat rare today. They have always been considered a key issue to the silver commemorative series and they have always had good collector demand. The typical Hawaiian is well-struck and relatively mark-free. Toning can be an issue with Hawaiian halves so eye appeal is very important. Most Hawaiians have semi-frosty/semi-satin luster. But many are toned to various degrees, some quite attractively, but some pretty dark and dingy. Again, eye appeal is critical with this issue.

Note that 50 examples were struck as matte-proofs (see coin# 9310).