The 1928 Hawaiian Sesquicentennial Half Dollar was minted to commemorate the 150th anniversary of Captain James Cook’s arrival in Hawaii. While Cook’s voyage marked the islands’ introduction to the Western world, it’s important to acknowledge that Native Hawaiians had already thrived there for centuries. The coin serves as both a historical marker and a tribute to Hawaii’s rich cultural heritage.
Designed by Juliette May Fraser, a Honolulu-born artist, and engraved by sculptor Chester Beach, the coin beautifully blends Hawaiian and Western influences. The obverse features a portrait of Captain Cook, surrounded by eight triangles symbolizing Hawaii’s major islands, along with a ship’s compass needle. Beach’s initials, CB, are discreetly placed on this side. The reverse depicts a Native Hawaiian warrior standing proudly near Diamond Head, an iconic volcanic landmark.
The Philadelphia Mint produced 10,008 coins in June 1928. Half were sent to Hawaii, while the rest were distributed in the continental U.S. An additional 200 coins were reserved as special presentation pieces. To ensure fair access, sales were limited to five coins per person.
Market Data and Notable Sales
Many of these commemorative half dollars were mishandled over time, with wear often appearing first on Cook’s cheekbone and fingers. Surprisingly, about 1,500 coins were never sold initially, contributing to their scarcity in the secondary market. This rarity led to the production of counterfeits, some with unnaturally Prooflike or Sandblasted finishes—features not found on genuine coins.
Early dealer ads reveal how the coin’s value grew. In 1936, William Rabin listed them for $12.50 each, while Tatham Coin Co. offered them for $11. By 1964, prices had surged to $600 per coin, reflecting increasing collector demand.
Today, high-grade examples command significant premiums. PCGS and NGC population reports show only a handful of coins in MS67+ condition, with auction records reaching as high as $96,000 for a vividly toned specimen.
Notable Sales:
- PCGS MS67+ (#44627525): Sold for $96,000 in 2022, featuring stunning rainbow toning.
- NGC MS67 (#4215058-001): Upgraded from MS66*, realizing $17,625 in 2015.
- PCGS MS67 (#21765014): Once part of the Bruce Scher Collection, it fetched $54,625 in 2007.
The Rare 1928 Proof Hawaiian Half Dollar
In addition to the standard issue, the Philadelphia Mint struck 50 special Sandblast Proof coins, distributed to dignitaries, historians, and institutions. Recipients included:
- King George V of England
- President Calvin Coolidge (a PCGS PR64 example sold for $60,000 in 2021)
- The British Museum
- The American Numismatic Association
These proofs are exceptionally rare, with only 36 certified by NGC and PCGS combined. Due to their limited numbers, auction records are sporadic, but recent sales include:
- NGC PF66 (#2661854-001): Achieved $102,000 in 2024, setting a public auction record.
- PCGS PR64 (#50152096): Originally owned by Calvin Coolidge, it sold for $60,000 in 2021.
Conclusion
The 1928 Hawaiian Sesquicentennial Half Dollar remains a prized piece of U.S. commemorative history, blending artistry, cultural significance, and numismatic rarity. Whether in business strike or proof form, these coins offer collectors a tangible connection to Hawaii’s past—one that honors both its Native heritage and its place in global exploration.
