Jump to: Eisenhower Dollar Values | Historical Background | Factors Affecting Values | Variations and Errors | FAQs
Key Takeaways
- Eisenhower Dollars marked the return of the Dollar Coin since the Peace Dollar was discontinued in 1935;
- Though very popular among collectors nowadays, at the time, the coin failed to circulate due to its large size and heavy weight;
- The US Mint produced this coin in both clad (copper and nickel) and a couple of collectible versions with 40% silver: an Uncirculated and a Proof;
- Proof coins in higher grades are still easy to find and usually fetch prices around $22, even in the highest grades;
- The Uncirculated and the Regular Strike clad versions are rarer. Uncirculated 1971-S Silver Dollars are priced up to $6,500, and the clad one can go up to $13,500!
Eisenhower Dollar Values
The Eisenhower dollar was produced by the United States Mint and was the American one-dollar coin from 1971 until 1978. This coin features two iconic designs that embody two important figures of American history: President Eisenhower and a Bald Eagle landing on the moon, referencing the Apollo Missions.
Many factors affect the value of the 1971 Dollar. The clad version (made of copper and nickel) can fetch prices ranging from $22 up to $13,500 in the highest uncirculated condition. The 1971 Silver Dollar, on the other hand, made of 40% silver, hovers between $18 and $6,500. In this article, we will discuss these factors briefly and understand why this variation of prices occurs.
Keep reading to learn more about this coin's details and how its composition, design, condition, popularity, variations, and errors can help you anticipate a 1971 Eisenhower dollar value.
Historical Background
The obverse of the coin depicts the bust of Dwight D. Eisenhower, a former military officer and the 34th President of the United States.
The inscription LIBERTY arches above Eisenhower's head, with the mint year 1971 at the bottom. The traditional American motto IN GOD WE TRUST is placed at the lower left.
On the reverse, Frank Gasparro modified a version of the Apollo 11 mission insignia originally designed by astronaut Michael Collins.
It depicts the bald eagle clutching an olive branch, landing on the Moon at the center. The inscription UNITED STATES OF AMERICA arches on the top edge, while the motto E PLURIBUS UNUM stands above the bald eagle. At the bottom, the denomination of the coin reads ONE DOLLAR.
Do you know who is on the Dollar Coin today?
Factors Affecting 1971 Silver Dollar Values
Demand and Popularity
The regular strikes produced for circulation of the 1971 Ike Dollar were made of 91.67% copper and 8.33% nickel.
However, the U.S. Mint also released Uncirculated and Proof versions of the same design in 40% silver. These were the first "silver" Dollars since 1935, when the Peace Dollar was discontinued. The Uncirculated coins were sealed in pliofilm and presented in a sturdy, blue envelope. Meanwhile, the Proof coins were encased in GSA-style hard plastic slabs inside a slip-case cover with a faux-wood finish.
The silver versions were very popular among collectors (and still are, given the silver weight and rising prices). However, business strikes (the clad version) of the Ike Dollars struggled to circulate at first, despite the initial public enthusiasm for the new dollar coin.
The problem was that the coins were too large and heavy. In fact, most expert numismatics nowadays believe that the majority of the Eisenhower dollars were only spent on Nevada casinos as a substitute for private-issued tokens.
Not even the vending machine industry, which fervently lobbied for the Eisenhower dollar, felt the need to adapt its machines to accept these coins.
Given their reasonable prices and small series, complete sets of Eisenhower dollars are affordable to acquire or complete and appealing to be owned by coin collectors.
Condition and Grade
A coin's condition is usually represented by a grade. The most famous grading scale is the Sheldon Scale. In this system, coins are graded from 1 to 70, with 1 being the worst condition and 70 being the perfect sample. It serves as a universal way of communicating a coin's condition using a numeric scale.
Any regular strike coins graded above 60 are considered to be in mint condition or “Mint State,” which is basically used to describe a well-preserved specimen and is abbreviated as MS. Proof coins may be graded as PR or PF plus the specific number in the scale that indicates its condition.
Grading services like PCGS and NGC are trustworthy and have a solid place in the numismatic market. Grading coins gives them a seal of quality and can help coin collectors anticipate a coin's pricing and determine relative rarity.
Rarity and Scarcity
The original mintage numbers play a significant part in the surviving population of a specific coin. And as you might imagine, the rarer a coin is, the more desirable it tends to become among collectors.
No Eisenhower dollar is rare in date and mintmark. However, the higher the grade, the rarer the surviving population for that coin variety. So, for instance, PCGS accounts for over 1300 specimens of the Uncirculated 1971-S Silver Dollar in MS67 with an estimated value of $275 a piece. On the other hand, they have only graded 7 samples of the same coin in MS68 grade, so the estimated value skyrockets to $6,500!
Check out our Eisenhower Silver Dollar Price Chart, including the complete collection (all mint years from 1971 to 1978).
Variations and Errors
See below the most outstanding errors and varieties of the 1971 Eisenhower dollars.
1971-S Peg Leg Dollar
The 1971-S Peg Leg Dollar is very popular among Eisenhower Dollar collectors. This variation is known as "Peg Leg" because of the absence of serifs on the left base of the letter R in the word Liberty.
Easily noticeable, this variation is highly sought after, even in modest uncirculated conditions, due to its premium value.
In 2019, a coin graded MS66+ was sold for $2,150 at eBay.
1971 S/S SILVER FS-501 $1 MS
Philadelphia-struck coins lack a mintmark, whereas those from Denver or San Francisco production feature small mintmarks ("D" or "S") positioned above the space between the last two digits of the date.
Mintmarks on Eisenhower dollars were manually punched, resulting in potential variations in their precise placement and orientation if compared to other coins.
In this 1971 Eisenhower dollar variety, some coins from the San Francisco Mint had the mint marks punched more than once.
An example was sold for $8,812.50 at heritage auctions in 2016.
1971 S DDO SILVER VP-009 $1 MS
The double die is a numismatics term for a duplication of design elements on a working die caused by a misalignment of the die or hub during the manufacturing process.
The double die obverse in vogue can be noticed to a certain extent on the inscriptions LIBERTY, IN GOD WE TRUST, and 1971.
In the open market, it can be found for around $225,00 in circulated conditions.
1971-D FRIENDLY EAGLE
This variety gets its name from the Eagle's appearance. As represented by the first image above, the variety shows an eagle without its characteristic heavy brow, which gives the animal a gentle expression.
However, there are other unique features that will assure the collector of a real friendly eagle: a rounder Earth than seen on other 1971-D Dollars; The Gulf of Mexico appears larger, and its northern reaches are more rounded; the Caribbean islands form a nearly solid-looking chain; and the large Moon crater has two debris flow lines between the letters “N” and “E” of “ONE.”
According to PCGS, In 2021, an MS66+ was sold for $10,000 at eBay.
Final Words
Eisenhower dollars are a significant piece of American coinage. Their value, beyond their prices, lies in their numismatic appeal, which goes beyond the precious metal composition and covers historical significance and symbolism. We hope to have properly educated coin collectors and enthusiasts on how to identify a valuable Eisenhower dollar.
FAQs
Are silver dollars from 1971 worth anything?
In uncirculated condition, 1971 Clad Eisenhower dollars from Philadelphia may fetch anywhere between $22 and $13,500. Their counterparts from the Denver mint, in similar condition and year, could range from $25 to $9,500. As for the 1971 Silver Eisenhower dollars minted at the San Francisco Mint, their value typically hovers around $18 to $6,500.
What is special about the 1971 silver dollar?
In 1971, the U.S. Treasury released both Uncirculated and Proof editions of the Eisenhower Dollar, crafted with 40% silver. This was the first return of American "silver" Dollars since 1935.
How can I tell if my 1971 Eisenhower Dollar is silver?
The best way to know if a coin is made of silver is to have it certified by reputable grading services like the PCGS and NCG. Both services will not only certify the coin's authenticity and composition but also grade it by its condition accuracy. That being said, for the 1971 mintage, the San Francisco Mint only produced Ike Dollars with a silver composition. If the coin has an “S” mint mark, it is a great indicator of it being made of silver.
How do I know if my Eisenhower Dollar is worth money?
If you want to know if the coin is a real Eisenhower dollar, you must have it certified by a third-party grading service, like PCGS. In the numismatic world, having coins graded makes them more appealing since most grading services will authenticate and deliver them encapsulated. If you already know that this coin is legit, check price guides like the NCG Price Guide.
What makes a 1971 Eisenhower Dollar rare?
Eisenhower dollars are not particularly rare in terms of mint marks or dates. However, varieties like the "Friendly Eagle" can sell for as much as $2,750 in uncirculated condition. Strikes like the 1971-S Silver in MS68 are condition rarities worth up to $6,500. The prototype version, however, has only one example registered by PCGS, with a record sale in 2023 for $102,000 at Heritage Auctions.
