The primary factors that dictate the value of a Walking Liberty half dollar are the condition of the coin and the year it was minted. Collectors will pay more for coins that are in better physical condition, and will usually pay more for older coins.
The condition of a coin is called its “grade.” Coins with higher grades will be worth more to dealers and collectors. Collectors can judge the grade of a Walking Liberty half dollar by looking at the skirt lines of the Liberty figure and the feathers of the eagle. More visible detail is evidence of a higher grade. The value of a coin also increases with its rarity, so older Walking Liberty half dollars will tend to bring higher prices because they are somewhat rare.