After three years of Walking Liberty half dollars exclusively at the San Francisco mint, production would again resume for the other branch mint operating at the time, in Denver. Still, production numbers were lean in 1929, and the relative equation of supply versus demand for Walking halves of this date is justifiably pressured.
A look at mintages for 1929 half dollars will help paint the picture of just how small output was for 1929 Walking Liberty half dollars:
1929-D, 1,001,200 minted; $12 in Good-4
1929-S, 1,902,000; $11
While mintages for several other issues in the Walking Liberty half dollar series are indeed lower, the combined effort of both Denver and San Francisco mints in 1929 resulted is fewer than 3 million half dollars which, in absolute terms, is a small number. Bear in mind, though, that far fewer 1929 half dollars exist today than were made in 1929, and only a tiny fraction of those were ever saved in the upper grades. Prices for XF-40 specimens clearly illustrate that point, as either a 1929-D or 1929-S in that grade cost north of $100.
Be sure to spend a little extra time seeking nice examples of any 1929 Walking Liberty halves you buy, as sharply struck pieces will look better in your collection and could bring a better return on your investment if you should sell them.
The Great Depression would symbolically begin late in 1929 amid the wake of the U.S. stock market crash, and reduced demand for high-denomination coins would spell the end of half dollar production until 1933.