In 1956, the United States Mint began to produce new one-cent coins known as Eisenhower dollars. The mint produced them for only two years because Congress ended the production of these coins after learning about cost overruns. The final cost of production was $10.70 per coin, which is a lot more than its face value of one cent.
Eisenhower dollars can be worth more than their face value if they are in excellent condition and have special characteristics. Some examples include coins from special mint sets, proofs, or error coins. Below, we’ll explore how much an Eisenhower dollar is worth and some factors that affect its value.
What is the Eisenhower dollar?
An Eisenhower dollar is a silver-colored dollar coin that was produced between 1971 and 1978. The coin was named after the 34th president of the United States, Dwight D. Eisenhower. The coins are composed of 40% silver and 60% copper, and they weigh 26.73 grams. Their diameter is 1.50 inches, and they are 0.75 inches thick. There are many valuable error coins that were mistakenly minted during the production of Eisenhower dollars. These include double dies, misplaced dates, and misaligned dies.
Eisenhower silver dollars were first minted in 1971 when the federal government introduced a new series of silver coins to commemorate historical events and people. The obverse side of these coins features the image of President Dwight D. Eisenhower. and thus are also nicknamed the “Ike Dollars.”
In addition to these commemorative coins, there are also commemorative tokens that are made specifically for coin collectors. These tokens, which are often made of precious metals like silver or gold, can be used to trade or as an investment.
The Eisenhower dollar series was introduced in 1971 until 1978. It is also the last circulating cupronickel dollar, the same size as a conventional silver dollar, and the last dollar coin with some silver.
Coinweek suggests that two out of three silver coin varieties were created with copper-nickel clad and 40% silver coins, each containing 0.3162 ounces of silver.
Dwight D. Eisenhower is featured on the obverse, while the 1969 Apollo 11 moon landing is referenced on the reverse of the Eisenhower dollar. As with the Kennedy half dollar reverse and the Lincoln cent memorial reverse, Frank Gasparro, U.S. Mint Chief Engraver from 1959 to 2008, designed both sides of this coin.
How was the Eisenhower Dollar created?
The United States Mint produced Eisenhower dollars from 1971 until 1978. The coin collectors market was flooded with various Eisenhower dollars struck unusually in multiple finishes and compositions. President Dwight D. Eisenhower and the 1969 moon landing were among the inspirations for Frank Gasparro’s design of this commemorative coin.
The United States Mint made various changes to the dies over the coin’s eight-year manufacturing cycle, such as adjusting the relief and enhancing some design aspects. In 1972, these alterations led to the creation of three distinct die types. Collectors are clamoring to get their hands on one of these since it’s so uncommon.
To commemorate the country’s Bicentennial, a unique reverse design was adopted. Treasury Secretary Timothy Geithner chose Dennis R. Williams’ Liberty Bell on the Moon design. Both the recent Apollo 11 moon landings and the writing of the Declaration of Independence, which occurred on July 4, 1776, were commemorated on the back of this coin.
The mint officials produced these 1776-1976 bicentennial coins in 1975 to fulfill the expected demand from collectors throughout the United States. As a result, no Eisenhower dollars from 1975 exist. A few individuals still bring their rolls into their local bank to trade for paper money, even though they are no longer in circulation. On the other hand, uncirculated coins command a higher price than their circulated counterparts.
What are Eisenhower Dollar Values?
For roughly $300 in Mint State in MS60-63 and $675 in MS65, you may get an Eisenhower dollar series set with every date and mint mark. The Eisenhower dollar value starts from $500. A complete set of MS63, MS65, and MS66 would cost about $500, $2,200, and $20,000, respectively. A PF66 1976 No S Proof is valued at $850,000. However, this does not contain the ultimate variant.
A clad MS65 is priced at $22, an MS66 is priced at $65, and an MS67 is priced at almost $1,400. Make sure to keep in mind that MS66 has just three dates available at the current pricing. The 1972 Type 2 is the most expensive and challenging to find, with a list price of $10,000. Complete Proof sets cost $6,148 in PF68 and $9,700 in PF69, while lower-grade examples cost far less.
What is the value of the Eisenhower Silver Dollar?
It is usual to find MS67 and MS68 State Dollars with a 40% silver content from 1971 to 1974. The Eisenhower silver dollar value starts from $650. They are worth between $3,000 and $9,000 if they are graded MS69, the highest possible grade.
Throughout MS67, the 1976-S may be found for $75; in MS68, the highest grade, it can be found for $300. If you’re interested in silver Proofs, a whole set costs about $200 and is widely accessible in PF69. In PF70, you should anticipate paying at least $525 on various dates, while a type coin costs $38. In PF70, the 1976-S costs $1,500.
What is the value of the 1971 Eisenhower Silver Dollar?
Coin presses from World War II did not strike well enough for this date to be included in mint sets, even though tens of millions of them were produced. The 1971 Eisenhower dollar value. In MS65, MS66, and MS67 grades, this coin is worth $2. In MS67, it is worth $1400. The 1971-D coins struck better than most of the clad Mint State coins (as well as the 1976-D ones). Also, this series’s Denver mint coins tend to appear more likable than their Philadelphia mint counterparts.
Value of 1972 Eisenhower Silver Dollar?
Three common types of 1972 Eisenhower Dollars worth
- Type 1 (Most frequent)
- Type 2 (Rare)
- Type 3 (Rarest) in grades of MS65 and above for the 1972 coin’s reverse design portrayal of the earth.
Type 3 coin features flattened earth with Florida pointing southeast. Two islands to the south of the Florida peninsula have been added to these, which have rounder earth than Type 2 coins.
The 1972 Type 2 was the series key using reverse dies designed for proof coins. PCGS has only rated eight of the 2,504 coins that were submitted for certification as MS66. The 1972 Eisenhower dollar value starts from $150.
What is the value of the 1974 Eisenhower Dollar?
1974 and 1974-D are among the most frequent dates in Mint State until the 1974 Eisenhower dollar value becomes $225 in that grade and an incredible $18,500 in MS67. MS66 costs $110, whereas MS67 costs $1,400. There are a lot of proofs from this year available via PF69 for as little as $24 each. A PF70, on the other hand, may cost upwards of $8,000 in the total price.
What is the value of the 1976 Eisenhower Dollar?
A unique U.S. Bicentennial coin released in 1975 and 1976 featuring a Liberty bell superimposed on the moon created by a young art student, Dennis R. Williams ended the minting and issuing of these dollar coins in 1975. The production of such coins was halted because the clad version was not striking correctly, so the dies were changed. Type 2 coins feature thinner and crisper writing on the reverse than Type 1 coins. Over $200 million in bicentennial money was generated.
They’re rarer than Proof clad coins up to PF69, which are more prevalent in lower grades. The 1976 Eisenhower dollar value (Type)1 is $1,500 in MS66, while most others are only worth $55 in that grade, and the 1976-D Type 1 is for $11,500 in MS67.
Which Eisenhower silver dollars are most valuable?
When a coin is first manufactured, a prototype version may be present. For the most part, prototype coins are made by the mint to assist engravers in refining the design of a new piece. These are very uncommon and may command a high price.
Even a prototype Eisenhower coin from 1971 just sold for $264,000. The bicentennial coin with the dates 1776-1976 is another Eisenhower rarity. In addition to eBay and Etsy, they may be purchased for as much as $25,000 each.
The Ike coins, however, may also be sold in groups as collectables. An auction of 500 circulating Eisenhower dollars went for $743, which comes out to only $1.486 per coin at the end of November.
How much is my Eisenhower dollar worth?
First, you’ll need to identify the year the coin was minted. The year will be stamped on the coin’s “heads” side. If you can’t find the year, you can use an “Eisenhower dollar value” chart to find the coin’s value. Next, find the grade of your coin, which is indicated by a number from 1 to 70. Each grade signifies the condition of the coin, with a higher grade indicating a more pristine coin. Here are the Eisenhower dollar grades and their corresponding values:
Grading
To determine the value of a 1971 silver dollar, there is no conventional grading scale to follow. To better understand the cost, it’s a good idea to get familiar with the system beforehand.
- The MS 63 uncirculated coin has a significant imperfection or a contact mark on the coin’s surface. It has a duller sheen as well.
- There is a lot of radiance on this MS 65 gem uncirculated coin. Contact marks that aren’t overly obvious are common.
- The PR 65 proof may contain some imperfections, but it’s generally flawless.
Keep in mind that high-grade 1971 Eisenhower dollars are difficult to come by. In the unlikely event that you come across some, expect them to be riddled with blemishes and contact marks.
Mint Marks
In the United States, three distinct mints made the Ike dollar. A letter in its name and a mint mark on its obverse are two examples of this. Philadelphia-made coins do not have a mint mark. These are stamped with a D if they were created in Denver mint and an S if they were made in San Francisco mint.
Blue Ikes
The 1971-S silver dollar is the poorest regarding quality and strike. When offered for sale, it came with a special insert that said it was produced without special care.
This is easy to notice on each 1971-S coin you see, regardless of whether it’s certified or uncertified. While the 1972-1974 Blue Pack Ike is typically MS66 to MS67, most 1971-S Eisenhower dollars are MS63 to MS65.
How can I tell if my Eisenhower dollar is silver?
Following these simple procedures, you can verify if your dollar is made of silver.
- Verify the mint stamp and date. A few hundred Denver specimens from 1974–1977 were mistakenly struck on silver planchets, while the majority of the 1971–S, 1972–S, 1973–S, 1974–S, and 1776–1976–S issues are presumably silver, while others are clad.
- Check the rim. It should be silvery with a faint blue line suggesting an 80/20 silver finish bonded to a 79/21 copper core.
- Scale it (40 percent silver issue weighs about 24.624g; clad issue weighs approximately 22.68g).
- The conductivity of electricity. Coin dealers will carry out steps 1-2-3 using a device that can also examine the electrical signature of the coin.
- For Lower Grade: If you drop it on a hardwood surface, you should hear a “ring” sound instead of the unpleasant-sounding “clad problem.”
Why are some Eisenhower dollars rare and valuable to Coin Collectors?
There were two years – 1971 and 1972 – when the United States Mint accidentally produced double the amount of coins that were needed. This means that there were twice as many coins minted than were ordered by the Treasury. Many of these extra coins were melted, but some were saved in special collector sets. These rare coins are worth up to $100,000 and are known as “double die” coins. “Mispied date” coins are worth thousands of dollars because they were mistakenly stamped with another date. Finally, “misaligned die” coins are worth hundreds of dollars because of a small defect in the coin’s design. For example, the “misaligned die” coins have small lines between the lettering.
Why is most Ike Dollars worth very little?
Most Ike Dollars are in bad condition and have no value. The silver composition of the coin means it will tarnish and become discolored over time. The coin’s condition is determined by a “grade” between 1 and 70, with 70 being the best. If your coin is in the lowest grade, there’s a good chance it’s not even worth the one cent that’s printed on it.
Tips on Collecting Eisenhower Dollars
Check for counterfeit coins
One of the most common mistakes in collecting Ike dollars is not checking coins carefully for counterfeits. Luckily, there are a few ways to spot fakes. One sign of a counterfeit coin is a line or ridge on the coin’s edge. This is because counterfeit coins are often made by using a blank with an edge raised above the surface. Another way to spot counterfeits is to look at the numismatic (coin collector) mark.
The mark on a counterfeit coin will be misspelled. There are also a few ways to test genuine coins for authenticity. The weight and diameter of a genuine coin will match the official measurements. A genuine coin will also have a dull, brushed surface with a slight sheen. You can also try using a magnet to test if the coin is real. A magnet will not stick to a genuine Eisenhower dollar coin since copper-nickel clad is not magnetic.
Know the different types of Eisenhower dollars
There are five types of Eisenhower dollars that can be differentiated based on their mint marks.
- Type 1 Ike coins are the most common and have the lowest value. They have a large letter “P” below the date on the reverse side.
- Eisenhower dollars from 1972-1974 are known as Type 2 coins. They have a smaller letter “P” below the date on the reverse side than the first type.
- Type 3 Eisenhower dollars are also from 1972-1974. They have the same “P” below the date as the first type, but the mark above the “P” is lower.
- Type 4 coins are rarer than Type 2 and 3 coins. They were minted from 1975-1976 and again in 1988. Type 4 coins have a large letter “E” above the “P” below the date on the reverse side.
- Type 5 coins are even rarer than Type 4 coins. They were minted in 1975 and again in 1988. Type 5 Eisenhower dollars have a large letter “E” above the “P” below the date with “WILDERNESS” written above the date.
Know your coin grades
Collectors often grade coins on a scale from 1 to 70. This is known as the Sheldon scale, but don’t let the complicated-sounding name fool you. All you have to do is start by finding the typical wear and tear on your Ike dollar, then match it with a grade on the scale.
For example, if you see a mark on your coin that is about halfway through the coin’s thickness, you would grade it as a “Full” mark. If it went all the way through the coin, you’d get a “Poor” grade. Grading coins is a subjective process, so you may see mismatched values with different dealers. That’s why it’s important to do your research and get as much information as you can about the coins you’re interested in buying.
Estimate the price by condition
As mentioned above, grading your coins will give you an estimate of their value. But grading alone is not enough to estimate the price. You must factor in the condition of the coin as well. The chart below shows the approximate values of Eisenhower dollar coins in different conditions.
If your coin is in excellent condition, that’s great! But be careful not to clean it or store it in an environment that will damage the coin. Cleaning coins can remove the copper-nickel clad, which can significantly lower their value. If you want to keep your collection in mint condition, you should store your coins in a plastic coin holder. These holders are specially designed to protect coins from dirt, dust, and sunlight that can damage them.
The Most Valuable Dollar Coins are in Mint Condition
As you can see from the chart, the most valuable coins are new coins in mint condition that haven’t been circulated. That doesn’t mean you should store your coins in a box and never look at them again. The reason mint condition coins are so valuable is that they’re rare.
If you have an Ike dollar collection just sitting in a box, it won’t be of much value to anyone. The best way to get the most value from your collection is to show it off. Participate in Ike coin conventions, attend coin shows, and display your collection in your home. Ike dollars are a special edition coin that won’t be produced again, so they’re a unique piece of history that can be passed down to future generations.
Find the right dealer to buy from
If you’re looking to buy a single Ike dollar coin, it’s best to find a local coin dealer or look for famous coin collectors. A local dealer will be able to meet you in person and inspect your coins, which they can’t do when buying online. Local dealers also offer a wider selection of Ike dollars since they don’t have to deal with shipping costs. If you’re planning to buy a larger Ike dollar collection, it might be best to buy online. Avoid shady counterfeit coin websites, and make sure you’re buying from a reputable dealer. One of the best ways to find a reputable dealer is to join coin collecting forums. You can also research online reviews to see what other collectors think of the dealer.
How to Find the Best Price for Your Coin?
The best way to find the value of your silver dollars is to take them to an expert or a coin shop. There, experts will be able to identify the year your silver coin was made and its grade. They can also give you a more accurate price than what you’d find on an Eisenhower dollar value chart.
If you want to know the value of your silver Eisenhower dollars before visiting a coin dealer, you can use the “price guide” option in the online “commodity search” tool offered by online coin value calculators. You’ll need to know the year and condition of your coin(s) to get an accurate price. Be sure to keep in mind that the price you see on the calculator is just an estimate. The actual price of your silver Eisenhower dollars depends on a number of factors, such as the current silver prices.
Final Word
Eisenhower dollars were produced for two years and were quickly discontinued because of their high production costs. Throughout its brief lifespan, the coin’s value has fluctuated based on several factors, including the year it was made. The most valuable Eisenhower silver dollars are from 1971 and 1972. There are also some coins from these years that are worth less than their face value due to defects.
On the other hand, the least valuable Eisenhower Silver Dollars were minted in 1978, when the coin was discontinued. If you have a 1971 or 1972 Eisenhower dollar, you have a rare coin worth thousands of dollars. On the other hand, if you have one of the less valuable coins, you should cash it in for its face value at your local coin shop.
