As a lifelong numismatist and Eisenhower dollar enthusiast, I‘ve handled my fair share of 1974 silver dollars over the years. These large, hefty coins never fail to impress with their striking designs and historical significance. But beyond their physical allure lies an equally fascinating world of rarities, varieties, and sky-high values that every collector should know about.
In this comprehensive guide, I‘ll share my expert insights and latest market analysis to help you fully understand the 1974 silver dollar in all its glory. You‘ll learn the key differences between each issue and see what these coins are really worth from a collector‘s perspective. Whether you‘re hunting for that elusive MS-67 gem or just starting an Ike dollar set, this post will give you the knowledge you need to buy, sell, and collect with confidence.
But first, let‘s travel back to 1974 and set the stage for the coins we‘ll be exploring today.
The State of Coin Collecting in 1974
The year 1974 was a dynamic time for the hobby of numismatics. The US Mint was in full swing producing Eisenhower dollars for circulation while also striking a variety of special collector coins in silver and clad compositions. Investor interest in rare coins was steadily growing, and a new generation of young collectors was eager to get their hands on current issues straight from the mint.
Some key events and trends in the coin world circa 1974:
- The Sheldon 1-70 grading scale becomes widely adopted by collectors and dealers
- Bicentennial quarter, half dollar, and dollar designs are unveiled
- ANA membership surpasses 25,000 active collectors
- Key date coins like the 1909-S VDB Lincoln cent and 1916-D Mercury dime continue to appreciate
- Silver prices hover around $4.70 per ounce, up from $1.80 a decade prior
Against this backdrop, the 1974 Eisenhower dollars emerged from the Philadelphia, Denver, and San Francisco mints. While the general public largely ignored these massive coins, astute collectors knew they represented an important chapter in the ongoing story of US numismatics.
1974 Eisenhower Dollar Overview
Before we dive into the specific 1974 issues, let‘s take a quick look at some key characteristics of Eisenhower dollars:
- Minted from 1971-1978 in honor of President Dwight D. Eisenhower
- Obverse features a portrait of Eisenhower by Chief Engraver Frank Gasparro
- Reverse depicts the Apollo 11 mission insignia, also designed by Gasparro
- Struck in both clad copper-nickel and 40% silver compositions
- Issued for circulation at Philadelphia and Denver mints; San Francisco produced collectors strikes only
- Diameter of 38.1 millimeters, weight of 22.68 grams (clad) or 24.59 grams (silver)
With these basics in mind, let‘s start breaking down the 1974 silver dollars and see what makes each one unique from a collector‘s standpoint.
1974 (P) Eisenhower Dollar
- Mintage: 27,366,000
- High-end value: $10,000+
- Key rarities: MS-67+ gems
As the most common Eisenhower dollar of 1974, the Philadelphia issue is readily available in circulated condition all the way up to MS-66. Over 27 million were struck with no mintmark, making them an easy entry point for Ike dollar collectors.
However, the 1974 (P) becomes a conditional rarity in superb gem grades. Only a tiny fraction of the original mintage survived in pristine MS-67 condition, and anything finer is virtually unheard of. PCGS has graded just 29 examples in MS-67 with none higher. These top pop coins are highly sought after by Registry Set collectors and can easily fetch five figures at auction.
One of the finest known 1974 (P) dollars, an incredible PCGS MS-67+, sold for $10,512 in a 2014 Heritage sale. That record still stands today and speaks to the difficulty of finding flawless specimens with original surfaces, no marks, and blazing luster.
Values by Grade
| Grade | PCGS Price |
|---|---|
| MS-60 | $30 |
| MS-63 | $40 |
| MS-64 | $50 |
| MS-65 | $80 |
| MS-66 | $325 |
| MS-67 | $6,500 |
| MS-67+ | $10,000+ |
As you can see, 1974 (P) Eisenhower dollars show an exponential jump in price as the grade increases. The vast majority of survivors cluster in MS-63 and MS-64, but anything above that level quickly enters five-figure territory.
So what should you look for when cherrypicking 1974 (P) dollars? First and foremost, focus on overall eye appeal. The best coins will have radiant mint luster, clean fields, and no distracting marks or scuffs. Pay close attention to the high points of Eisenhower‘s cheek and hair, as these areas are prone to bag marks and friction.
Also be on the lookout for attractive toning, especially vivid rainbow hues encircling the rims. A gorgeously toned MS-66 or MS-67 is a real prize for Eisenhower dollar aficionados.
1974-D Eisenhower Dollar
- Mintage: 45,517,000
- High-end value: $15,000+
- Key rarities: MS-67+ gems
The 1974-D Eisenhower dollar boasts the highest mintage of the series, with over 45 million struck at the Denver Mint. Like its Philadelphia counterpart, the 1974-D is a common coin in lower uncirculated grades but becomes a severe condition rarity at the gem level.
PCGS reports just 21 grading events in MS-67 with none finer. The top 1974-D dollar, a single PCGS MS-67+, realized a staggering $15,275 in a 2015 Stack‘s Bowers auction. This remains the highest price ever paid for a regular issue 1974 Eisenhower dollar.
So why are high-grade 1974-D dollars so elusive? It all comes down to quality control at the Denver Mint. Many 1974-D Ike dollars were poorly made with mushy strikes, dull luster, and copious marks straight out of the mint bags. Gems were few and far between, and superb gems are nearly impossible to locate.
Values by Grade
| Grade | PCGS Price |
|---|---|
| MS-60 | $30 |
| MS-63 | $35 |
| MS-64 | $40 |
| MS-65 | $75 |
| MS-66 | $450 |
| MS-67 | $8,500 |
| MS-67+ | $15,000+ |
As with the 1974 (P), values for the 1974-D increase sharply in gem condition. The jump from MS-66 to MS-67 is especially severe, with prices going from a few hundred dollars to nearly five figures overnight.
If you‘re searching for a high-end 1974-D Eisenhower dollar, focus your efforts on coins with exceptional striking quality. Look for pieces with fully rounded breast feathers on the eagle and sharp detail in Eisenhower‘s hair. Luster should be thick and frosty rather than satiny or dull.
Gems and superb gems are most likely to be found in original government packaging, sealed mint sets, and high-quality collections. Cherrypicking a raw 1974-D dollar is still possible, but the odds are heavily stacked against you.
1974-S Silver Proof Eisenhower Dollar
- Mintage: 1,306,579
- High-end value: $5,000+
- Key rarities: PR-70 Deep Cameo
The 1974-S Silver Proof Eisenhower dollar is a special collector coin struck at the San Francisco Mint. It contains 40% silver and was sold individually in a hard plastic case for $10 each.
While the 1974-S Silver Proof is much scarcer than its clad counterparts, it‘s still relatively obtainable in PR-65 and lower grades. Over 1.3 million were minted, and a large percentage have survived in pristine condition thanks to their careful handling and preservation by collectors.
However, the 1974-S Silver Proof becomes a notable condition rarity in PR-69 and PR-70 grades. PCGS has certified just 139 examples in PR-69 Deep Cameo with 3 finer in PR-70 Deep Cameo. These finest known specimens are highly coveted by Registry Set collectors who demand nothing less than perfection.
A PCGS PR-70 Deep Cameo 1974-S Silver Proof dollar commanded $5,463 in a 2010 Heritage auction, setting a record for the issue. While prices have cooled off a bit since then, PR-70 DCAM examples still routinely sell for $4,000 and up when they appear at auction.
Values by Grade
| Grade | PCGS Price |
|---|---|
| PR-60 | $15 |
| PR-63 | $18 |
| PR-64 | $20 |
| PR-65 | $25 |
| PR-66 | $35 |
| PR-67 | $55 |
| PR-68 | $130 |
| PR-69 DCAM | $650 |
| PR-70 DCAM | $4,000+ |
Note that values for PR-69 and PR-70 only apply to Deep Cameo examples. The Deep Cameo or "Ultra Cameo" designation indicates a coin with heavily frosted devices and deeply reflective, black fields. Non-cameo 1974-S Silver Proofs are much less desirable and valuable.
When buying 1974-S Silver Proof dollars, always look for pieces with strong cameo contrast and no haze, spots, or marks. Most examples will come in their original government packaging, which should be in good shape and free of cracks or chips.
Collecting 1974 Eisenhower Dollars
If you‘re interested in starting a collection of 1974 Eisenhower dollars, you have several options depending on your budget and goals:
-
Circulation Strikes: Assemble a set of 1974 (P) and 1974-D dollars in the highest grades you can afford. Look for pieces with nice eye appeal and no major marks or problems. A matched set in MS-66 would be an impressive accomplishment.
-
Silver Proofs: Focus on acquiring a single high-grade 1974-S Silver Proof dollar. Aim for a PR-69 Deep Cameo if your budget allows, or settle for a nice PR-68 DCAM as a more affordable alternative.
-
Errors and Varieties: Seek out rare and interesting 1974 Eisenhower dollar errors and varieties such as the 1974 Doubled Die Obverse, 1974-D Doubled Die Reverse, and 1974-S Silver Transitional. These can be challenging to authenticate but offer the potential for huge returns.
-
Complete Eisenhower Set: Expand your collection to include all circulation and special strike issues from 1971 to 1978. This is a fun way to explore the entire series and learn about key dates like the 1972 Type 2, 1973-S Silver, and 1976-S Silver Bicentennial.
However you choose to collect, always buy the best coins you can afford from reputable dealers and grading services. Take your time, do your research, and don‘t be afraid to ask for second opinions on tough-to-grade coins.
A Word of Caution
As with any popular and valuable coin series, the Eisenhower dollar market has its fair share of fakes, alterations, and overgraded pieces. Here are a few key things to watch out for:
-
Counterfeit coins: Fake Eisenhower dollars are becoming more common, especially in high grades. Stick to certified coins from PCGS and NGC to avoid being duped.
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Altered surfaces: Some unscrupulous sellers will artificially tone or doctor Eisenhower dollars to make them appear more valuable. Be wary of coins with unnatural colors or surfaces that look polished or dipped.
-
Overgraded holders: Not all "MS-67" or "PR-70" 1974 dollars are created equal. Some coins may be overgraded by less reputable services in an attempt to inflate their value. When in doubt, opt for PCGS or NGC certified pieces.
If a deal seems too good to be true, it probably is. Take your time and only buy from dealers with a proven track record of delivering high-quality coins and standing behind their products.
Conclusions
I hope this deep dive into 1974 silver dollar values has opened your eyes to the incredible richness and diversity of this often-overlooked series. Whether you‘re a seasoned collector or just getting started, there‘s never been a better time to explore the fascinating world of Eisenhower dollars.
By focusing on high-grade examples, rare varieties, and historically significant pieces, you can assemble a collection that will be the envy of other numismatists and potentially appreciate in value over time.
Of course, the most important thing is to collect what you love and enjoy the thrill of the hunt. Few things in our hobby are more satisfying than finally tracking down that elusive MS-67, PR-70 DCAM, or crazy mint error after months or years of searching.
So what are you waiting for? Get out there and start cherry picking those 1974 silver dollars! With the knowledge and insights you‘ve gained from this guide, you‘re well on your way to becoming an Eisenhower dollar expert in your own right. Happy hunting!
Sources and Further Reading
- PCGS CoinFacts: https://www.pcgs.com/coinfacts/coin/1974-1-ms/7406
- NGC Coin Explorer: https://www.ngccoin.com/coin-explorer/eisenhower-dollars-1971-1978-pscid-73
- Numismatic News: https://www.numismaticnews.net/archive/collecting-ike-dollars
- The Numismatist: https://money.org/uploads/The%20Numismatist%20December%202014.pdf
- Heritage Auctions Archives: https://coins.ha.com/
- PCGS Set Registry: https://www.pcgs.com/setregistry
