A rare half-dollar coin that was minted to honor President John F. Kennedy after his tragic assassination could fetch over $5,000 today, according to a price guide for collectible coins. 

A 1964 Kennedy silver half-dollar could fetch up to $5,200 on the open market as long as it is in pristine and "uncirculated" condition, according to coin grading site NGC. 

The US Mint commissioned the coin to honor the president following his tragic assassination in Dallas on November 22, 1963. 

Douglas Dillon, then-Treasury Secretary, informed US Mint Director Eva Adams that he wanted to honor the late president by putting his image on a half-dollar coin. 

Gilroy Roberts, the Chief Engraver at the US Mint at the time, used an image of Kennedy from the Presidential Medal for the front of the coin, while Assistant Engraver Frank Gasparro engraved the reverse side based on the Presidential Seal. 

Kennedy's widow Jackie Kennedy approved the design. 

The coin, which was authorized by Congress just over a month after Kennedy's death, was hoarded by collectors upon its release in March 1964, prompting the US Mint to ramp up production. 

The mint coined 87,448,004 Kennedy silver half-dollars in 1964, coining a further 144,182,000 in 1965. It coined a further 41,674,000 half-dollars in 1966. 

In a bid to boost circulation and prevent hoarding, the Treasury continued striking 1964-dated coins in 1965 to increase the number of 1964-dated coins. 

Eventually, more than 430 million silver half-dollars dated to 1964 were struck by the US Mint. 

A continued rise in the price of silver increased hoarding, even when the percentage of fine silver was reduced from 90% to 40% in 1965. 

IrishCentral History

Love Irish history? Share your favorite stories with other history buffs in the IrishCentral History Facebook group.

Circulation barely improved in 1971, when silver was eliminated entirely from the half-dollar. 

The half-dollars only saw a moderate increase in usage after that change, while the use of the half-dollar became uncommon in the US by the end of the 1970s. 

Today, 1964 versions of the coin that are in pristine and uncirculated condition can fetch up to $5,200. 

However, if the coin has been in circulation and is in a worn condition, it will only fetch between $8.50 and $9.25, according to NGC.