The Iowa commemorative half dollar, celebrating the 100th anniversary of The Hawkeye State, saw a huge run of more than 100,000 pieces. The coin was designed by medalist Adam Pietz and was distributed via a numismatically unconventional system of a lottery for Iowa residents who could buy the coin for $2.50 or to anyone outside Iowa through banks for $3 apiece, with just 5,000 coins allocated for non-Iowans. Another 500 coins were held aside for sale during the state's 150th anniversary in 1996, during which they were sold for $500. Another batch of 500 coins plus those unsold from the 1996 sales reprisal await sale during Iowa's bicentennial in 2046.

Most Iowa half dollars are in excellent condition, and many are known in Gem grades up through MS67, with MS68s very rare but available for a price. MS69s are known but are extremely rare and worth fantastic premiums. Most survivors of offer excellent luster.