Smart Buying Guide: How to Buy Two More Classic Commems Added to the Stable Without Getting Ripped Off — The 1936-D & 1938-S Boone Commemorative Half Dollars

I’ve spent decades building my classic commemorative collection, and if you want to add two more stunning pieces to your stable without getting ripped off, you need a strategy. The Boone commemorative half dollar series—honoring the legendary frontiersman Daniel Boone and the settlement of Kentucky—represents one of the most historically compelling chapters in early United States numismatics. With low mintages, limited surviving populations, and a rich distribution story spanning banks, presentation cases, and premier dealers like Stacks, these coins reward the patient buyer. In this guide, I’ll walk you through exactly how to acquire the 1936-D and 1938-S Boone commemoratives wisely, avoid the pitfalls that trap novice collectors, and negotiate your way into a stronger portfolio.

Understanding the Boone Commemorative Series: Context Is Everything

Before I drop a single dollar, I need to understand the landscape I’m entering. The Boone commemorative half dollar was minted across five years—1934, 1935, 1936, 1937, and 1938—with the Philadelphia Mint producing most of the early dates and the Denver and San Francisco Mints stepping in for the later issues. The series commemorates the exploration and settlement of Kentucky by Daniel Boone, and it was authorized by Congress in 1934 as part of the broader commemorative coin boom of the 1930s.

From a market perspective, the late 1930s marked a turning point for commemorative coinage. As the forum discussion I reviewed noted, by 1936 and 1938, the commemorative market was “all played out.” That economic reality directly shaped the mintages we see today:

• The 1936-D Boone Commemorative: Mintage of approximately 5,000 coins produced and sold. The “D” mint mark indicates Denver Mint production. This rare variety offers incredible numismatic value for those seeking a solid foundation piece.
• The 1938-S Boone Commemorative: Mintage of only 2,100 coins, tying it for the second-lowest mintage in the entire Boone series. The “S” mint mark indicates San Francisco Mint production. Finding one in true mint condition is a real thrill for any serious collector.

These are not common coins. They are the kind of issues that separate casual collectors from serious numismatists. When I examine low-mintage commemoratives of this era, I consistently find that the buyers who do their homework before purchasing come away with far superior results—both in acquisition price and long-term portfolio value.

Where to Buy Boone Commemoratives: Your Strategic Options

The marketplace for classic commemoratives has evolved significantly over the past two decades. I’ve tracked the shifting channels through which these coins change hands, and your choice of venue matters enormously. Here is where I recommend looking, ranked by reliability and value potential:

1. Reputable National Coin Dealers

The backbone of the commemorative market remains established dealers with decades of experience. Firms like Stacks Bowers, Heritage Auctions, and Stack’s Bowers Galleries have handled Boone commemoratives regularly and provide authentication, grading, and provenance documentation. When buying from a major dealer, you are paying a premium—but you are also buying peace of mind. I have seen too many collectors learn the hard way that the “bargain” from an unknown dealer cost them far more in restoration or re-alteration expenses. A dealer who stands behind the eye appeal and strike of their coins is worth their weight in gold.

2. Numismatic Auctions (Live and Online)

Auctions are where I have personally found the best deals on classic commemoratives. Heritage Auctions, Stack’s Bowers, and even smaller regional auction houses regularly feature Boone halves in their classic commemorative sessions. The auction format introduces competitive bidding, which can drive prices up—but it also creates transparency. You can see real-time market valuation and compare lots against realized prices from previous sales. I always advise setting a maximum bid before the auction begins and sticking to it. The numismatic value of a coin is often determined right there in the room.

3. Online Marketplaces and Collector Forums

Platforms like eBay, CoinCommunity, and specialized numismatic forums offer direct access to fellow collectors. The forum thread I analyzed for this guide is a perfect example: collectors sharing images, mintage data, and distribution history. When buying from online forums or marketplaces, I recommend the following checklist:

• Verify the seller’s feedback history and numismatic credentials.
• Request high-resolution images of the obverse, reverse, and edge.
• Ask for a clear statement of authenticity and whether the coin has been certified by PCGS or NGC.
• Inquire about the coin’s provenance—was it part of a presentation set, a bank distribution, or a dealer lot?

4. Estate Sales and Estate Liquidations

One of the most underutilized avenues for acquiring Boone commemoratives is through estate sales. I love scouring estate auctions where families unknowingly possessed significant numismatic holdings. The key advantage here is that sellers often lack specialized knowledge, which can translate into below-market pricing. However, you must be prepared to authenticate independently, as estate coins frequently lack original documentation. You might just uncover a rare variety with incredible eye appeal and original patina that a dealer would price twice as high.

Red Flags: What to Watch for When Buying Boone Commemoratives

The low mintage of the 1936-D and 1938-S makes them attractive targets for counterfeiters and unscrupulous sellers. Over the years, I have identified several recurring red flags that every buyer should know:

1. Overgraded Coins: One of the most common scams in the commemorative market involves coins graded higher than their actual condition. A coin slabbed as MS-65 that is actually AU-50 represents a massive overpayment. I always recommend cross-referencing the slab’s grade with independent third-party opinions when possible. You want the true mint condition, not a seller’s wishful thinking.
2. Missing or Altered Mint Marks: The “D” on the 1936-D and the “S” on the 1938-S are critical to the coin’s identity and value. Watch for coins where the mint mark appears faint, raised, or suspiciously placed. Counterfeiters have been known to add mint marks to common dates. A genuine rare variety will have a sharp, well-defined mark.
3. No CAC Sticker: As forum members noted, coins with gold CAC (Certified Acceptance Corporation) stickers command a premium—but they also provide independent verification that the grading service’s assessment is accurate. A coin without CAC in a high grade should be approached with caution, as its eye appeal and strike might not match the slab.
4. Suspiciously Low Prices: If a 1936-D or 1938-S Boone commemorative is priced significantly below the current market guide, there is almost always a reason. It may be cleaned, damaged, counterfeit, or overgraded. I have never seen a genuine low-mintage commemorative sell for a true bargain without a compelling explanation. If the price seems too good to be true, the luster or patina is likely compromised.
5. Vague Provenance: A seller who cannot or will not explain where the coin came from is a red flag. Legitimate dealers and collectors can typically trace a coin’s path from mint to current owner. Without solid provenance, you are taking a massive gamble on its collectibility.

Raw vs. Slabbed: Making the Right Choice for Your Collection

This is one of the most consequential decisions a buyer of classic commemoratives will face, and I have strong opinions on both sides based on years of experience.

The Case for Slabbed Coins

Slabbed coins—those encapsulated and graded by services like PCGS or NGC—offer several distinct advantages for the Boone commemorative buyer:

• Authentication Guarantee: The slabbing service has verified the coin is genuine. For low-mintage commemoratives where counterfeits exist, this is invaluable.
• Grade Consistency: A PCGS or NGC grade provides a standardized benchmark. When I compare two slabbed 1938-S Boone halves, the grade on the slab tells me exactly what I am getting in terms of condition.
• Market Liquidity: Slabbed coins trade more easily on the secondary market. If you ever decide to sell, a certified coin will attract more buyers and command a higher price than an equivalent raw coin.
• Protection: The sealed slab protects the coin from environmental damage, handling wear, and accidental scratches, preserving that original luster and mint condition for decades.

The trade-off is cost. Slabbing fees, plus the premium that certified coins command, mean you will pay more upfront. However, in my experience, the investment in certification pays for itself the first time you sell or trade the coin.

The Case for Raw Coins

Raw coins—those that have not been submitted for professional grading—offer their own appeal, particularly for collectors who enjoy the hands-on aspect of numismatics:

• Lower Entry Cost: You can often acquire a raw Boone commemorative for significantly less than its slabbed counterpart, sometimes 20-40% less depending on the date and condition.
• Opportunity for Re-Grading: If you have a keen eye for grading, you can submit a raw coin to PCGS or NGC yourself and potentially realize a significant upgrade in perceived value if the coin grades higher than expected.
• Original Surfaces: Some collectors prefer raw coins because they have not been handled by grading service employees or subjected to the potential of mishandling during the slabbing process. The natural patina and strike remain untouched.
• Set Building Flexibility: When assembling a complete Boone commemorative set, raw coins allow you to fill gaps without committing the full cost of certification for every piece.

My recommendation for buyers is this: if you are building a type set or a short series, start with raw coins for the common dates and invest in slabbed examples for the key dates—the 1936-D and 1938-S in this case. These are the coins that will anchor your collection’s numismatic value and credibility.

Negotiating Tips: How to Get the Best Deal on Boone Commemoratives

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