From a Proof mintage for the date of 8,152 pieces, the 1938 is the third Proof installment in the Walking Liberty half dollar series, and also the third rarest after the 1936 and 1937. The 1938 is typically offered no finer than Proof-67. A very few cameos are known.

View 1938 Walking Liberty Half Dollar Auction Results

The example to the left was sold by Stack's Bowers Galleries in June 2012 Baltimore Auction, where it realized $4,406.