United States half dollars minted in 1965 occupy a unique position in numismatic history. These coins, while bearing the same denomination as earlier examples containing 90% of a precious metal, were instead composed of a clad metal construction. This change was implemented to alleviate a severe shortage of the metal occurring at the time. This metallic shift affected the intrinsic worth of the coin.
The decision to reduce precious metal usage in coinage had significant ramifications. It marked a departure from traditional manufacturing practices and reflected the economic pressures facing the nation. The clad composition, consisting of outer layers of silver and copper bonded to a core of pure copper, offered a compromise between maintaining a silver appearance and reducing the overall cost. This change decreased the inherent commodity value compared to its predecessors.