The 1938 New Rochelle half dollar was authorized on May 5, 1936, and 25,000 were to be sold for $2 each. Although dated 1938, the mintage was struck at the Philadelphia Mint in April 1937.

Fifty pieces were struck on polished planchets from polished dies, receiving a single blow from the press giving these specimen half dollars a deep prooflike surface. These 50 Specimen coins were struck for members of the Coinage Committee, the Westchester County Coin Club, and various dignitaries. This PCGS Specimen 67+ CAC is the second finest known.