[The following excerpt is published courtesy of DLRC Press and its author, Rick Tomaska. This information was originally published in 2002 in The Complete Guide to Franklin Half Dollars]
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101 Proof only: doubled die obverse. Slight doubling to the east is most noticeable on the 2 in the date.
Current Availability & Values
PROOF 60-64: Another date quite plentiful in less than gem grade. Due to the higher mintage, proof ‘62’s have often been sold in bulk quantities – the usual method has been to place them in rolls where, unfortunately, they would often abrade with other coins.
PROOF 65-68: The majority of 1962 proof Franklins probably grade proof 65-66. This date is also common in proof 67. Hairline-free, spot-free proof 68 examples are considerably more scarce.
Value: Proof 67 ‘62’s are currently selling for as little as $15-$25. Proof 68 examples command anywhere from $30-$60.
PROOF 64-66 CAMEO: The most common date in the series in gem cameo, the 1962 cameo Franklin is the 1881-S of the Morgan dollar series. At the time of publication of the first edition of the “Complete Guide”, this author wrote “this is one coin that, in this grade, will likely be available for many years to come.” The time seems to have arrived when even the 1962 in gem cameo has become somewhat elusive! Once available in quantities, this author usually had at least a double row box of 50 or more gem cameo 1962 Franklins in stock. Of late, there have been times when there are none!
Value: Spot-free Proof 64-66 Cameo ‘62’s have been trending up of late, and usually sell between $15 (for PR 64’s) and $35. Examples with large milkspots will usually sell for at least 20% less.
PROOF 67-68 CAMEO: The 1962 Franklin is quite a bit more difficult to find in high grade, proof 67-68 cameo, though there is not yet a shortage of this date in proof 67 cameo.
Value: The 1962 Franklin generally trades hands between $40 and $100 in Proof 67 Cameo, the latter number for heavier contrasted coins. Proof 68 examples sell for approximately double those figures.
PROOF 65-66 PCGS DCAM/NGC ULTRA CAM: SCARCE. Relatively few ‘62’s possess the necessary intense level of cameo contrast on both obverse & reverse to earn PCGS’s “DCAM” or NGC’s “ULTRA CAM” designation.
Value: A bargain at current levels. $50 to $100 for Proof 65 DCAM/ULTRA’s, double that for 66’s.
PROOF 67-68 PCGS DCAM/NGC ULTRA CAM: SCARCE. Flawless or nearflawless 1962 proof Franklins, with extremely heavy snow-white frost on both obverse & reverse are very elusive coins. Proof 68 examples, of which there are only about 200 graded, PCGS & NGC combined, are especially in demand, as they represent the very finest quality the collector can reasonably hope to acquire for this date.There have been a several 1962 Franklins graded in Proof 69 DCAM/ULTRA – 7 by PCGS, and 2 by NGC.
Value: The finest 1962 Proof 69 DCAM/ULTRA Franklins have skyrocketed in value. Once available for $3,000 – $5,000, the finest example to surface the past couple years commanded nearly $15,000. Not only was the coin technically flawless, the cameo contrast was extraordinary, with shimmering, intensely frosted devices contrasted against extremely deep, jet-black mirrors. The coin was almost as spectacular as the finest 1958 Proof 68 DCAM Franklins mentioned in that previous section!
As with every date in the proof Franklin series, the 1962 has experienced the greatest appreciation in value in its highest grade, with heaviest cameo contrast. All superb cameo ‘62’s are quick sellers at the “right” price, but the greater availability of the lesser contrasted, lower grade coins has kept them from appreciating in value at the same torrid pace as the few finest known examples. That may all change in the years to come, as even moderate contrasted 1962 Franklins in Proof 65-66 Cameo are becoming elusive! As we find ourselves searching further and further offshore for the few remaining oil reserves, so it is with superb cameo Franklins. Most of the finest examples are now salted away. On the rare occasion a spectacular example does surface, it generally commands a very strong price. This is especially true for the finest known Proof 69 DCAM/ULTRA coins.