The Long Island Tercentenary, designed by Howard Kenneth Weinman, was issued during the height of the commemorative coin bonanza of the mid 1930s, a short but dizzying period when a dozen or more different commemoratives issued during any single year. More than 100,000 Long Island halves were struck and they were sold for $1 each. Hoards filtered into the marketplace into the 1960s, ensuring this coin remains relatively common in the industry even now.

The majority of Long Island half dollars are encountered in uncirculated condition, but pieces grading MS67 or higher are quite rare due to broad, flat surfaces on both the obverse and reverse. With the coin prone to surface detractions, it is difficult to find nice pieces that are absent a smattering imperfections.