The Eisenhower dollar, minted from 1971 to 1978, is the last large-sized $1 coin struck for circulation in the United States. While often overlooked by collectors in the past, interest in this fascinating series has grown in recent years as more numismatists come to appreciate its rich variety and colorful history.
Eisenhower dollars were struck in large quantities in both copper-nickel clad and 40% silver compositions for collectors. However, a number of rare varieties, striking errors, and condition rarities have emerged as highly coveted pieces that command substantial premiums.
In this guide, we‘ll take an in-depth look at the most valuable Eisenhower dollars, examining their key features, mintages, and auction records. Whether you‘re an experienced Ike dollar collector or just starting out, understanding these rare and desirable issues can help you build a top-notch collection. Let‘s dive in!
The King of Ikes: 1976-S Clad Type 2 Proof
The undisputed king of modern dollar coins is the 1976-S Type 2 Clad Proof Eisenhower dollar. This dazzling rarity is differentiated from regular 1976-S Proof dollars by a subtle difference in the design of the Earth above the eagle‘s head on the reverse.
On Type 1 reverses, the continents have a more sculpted, raised appearance, while on the rare Type 2, the landmasses appear flat and less defined against the fields. It‘s believed that only a tiny number of Type 2 reverse dies were used in error to strike clad proofs before the issue was noticed and corrected.
Today, gem examples of the 1976-S Type 2 Proof regularly sell for over $40,000, with the current record being $41,400 for a spectacular PR66 specimen. Interestingly, the 40% silver version of the 1976-S Type 2 is only worth around $1,000 in PR66 – a fraction of its clad counterpart.
While an undeniable rarity, the 1976-S Clad Type 2 is controversial, with some experts questioning whether it is a true die variety or the result of deliberate or accidental planchet mixing. Nevertheless, it remains the holy grail of Eisenhower dollars and a dream coin for many collectors.
Indented Planchet Mated Pair: 1973-S Proof
Another contender for the most valuable Eisenhower dollar is the extremely rare 1973-S Proof mated pair featuring a radically indented planchet. This unique error occurred when two planchets were fed simultaneously into the coining press, resulting in one being badly distorted while the other was struck normally.
The resulting coins – designated as PR67 and PR67 RB (red-brown) by NGC – are a visually striking and highly sought-after pair, with the indented coin appearing bowl-shaped. In a 2006 auction, this remarkable duo realized an impressive $40,250.
Other dramatic errors and varieties are known in the series, including partial collar, double strike, and off-center strikes, but none are as valuable or memorable as the 1973-S mated pair. Error collectors dream of adding examples to their collections.
Rare Off-Metal Strikes and Transitional Errors
Several exotic and valuable Eisenhower dollars are known struck on the wrong planchet or in rare transitional compositions between clad and silver issues. One of the most famous is the 1974-D Eisenhower dollar struck on a 1974-D dime planchet, graded MS65 by NGC.
Considerably smaller and thinner than a normal Ike dollar, this dramatic error was created when a dime planchet was accidentally fed into the coining press fitted with Eisenhower dollar dies. The coin realized $14,100 in a 2008 sale.
Even rarer is the unique 1977-D Eisenhower dollar struck on a 1977 40% silver half dollar planchet and graded MS63 by NGC. This off-metal error is a highly prized transitional piece, as the Denver Mint used silver planchets for striking Eisenhower dollars in 1976 but switched to clad the following year. It last sold for $12,925 in 2011.
Other notable transitional errors include the 1971-D Eisenhower struck on a nickel planchet (MS64 NGC, $12,925), the 1976-D Type One overstruck on a Bicentennial quarter (MS64 NGC, $28,200), and a small number of 1976-D Type Two dollars struck on leftover 40% silver planchets from 1976 (AU55 PCGS, $8,225).
Condition Census: Superb Gem Examples
As with all coin series, the most pristine, flawlessly preserved examples of otherwise common dates can be extremely valuable in the highest grades. Collecting Eisenhower dollars in MS67 and higher grades is a daunting challenge and an expensive pursuit.
Competition for the finest known business strike and proof Ikes is fierce, with registry set collectors vying to own the top coin for each issue. Especially coveted are coins with deep cameo contrast, flawless surfaces, and exceptional eye appeal.
Some of the most valuable condition rarities include:
- 1973-S Silver Proof, PR70DCAM PCGS ($5,405)
- 1972 Type One MS66+ PCGS ($7,475)
- 1972-D MS67 PCGS ($9,775)
- 1977-S PR70DCAM PCGS ($7,015)
- 1974-S Clad PR70DCAM PCGS ($9,000)
High-grade clad business strikes tend to be scarcer than their silver proof counterparts from the San Francisco Mint, which were carefully struck and handled. Clad coins from 1971 and 1972 are particularly challenging in superb gem grades.
Collecting Eisenhower Dollars
For many hobbyists, assembling a complete 32-coin set of regular-issue Eisenhower dollars is an ideal collecting goal. This includes one example of each date and mintmark combination struck for circulation from 1971 through 1978 (excluding 1975), plus the special Bicentennial reverse used in 1975-1976.
To these can be added the 40% silver issues struck for collectors at the San Francisco Mint. A 12-piece silver set without rarities can be completed relatively easily, although high-grade examples are pricey.
Many enthusiasts also collect Eisenhower dollars by die variety, seeking out scarcer Mint State and Proof subtypes identified by Fivaz-Stanton (FS) attribution numbers. A complete set of these more esoteric varieties is a significant challenge.
In terms of strike and surface quality, the best clad business strikes tend to be coins pulled from uncirculated mint sets, as these specially made coins have extraordinarily sharp strikes, often with prooflike surfaces. They‘re quite scarce and desirable in grades above MS66.
"Blue Ike" sets containing the regular 40% silver Uncirculated Eisenhower dollar are very popular, as are "Brown Ike" 40% silver Proof sets. These were sold individually by the Mint and are usually found still sealed in their original packaging. Prices range from a few hundred to several thousand dollars in top condition.
Buying and Selling Eisenhower Dollars
As with all collectible coins, it‘s important to only purchase Eisenhower dollars certified by reputable third-party grading services like PCGS, NGC, ANACS, and ICG. These "slabbed" coins have been authenticated, graded, and encapsulated to protect them from damage and tampering.
For older ANACS coins lacking a numeric grade on the holder, it‘s a good idea to have them reholdered by PCGS or NGC. Some early ANACS-certified Eisenhower dollars have been counterfeited or altered.
Always buy coins from established, reputable dealers who offer a lifetime guarantee of authenticity and allow a reasonable return period if you‘re unsatisfied with your purchase. Some of the best places to buy certified Eisenhower dollars online include:
- eBay
- Heritage Auctions
- Stack‘s Bowers Galleries
- Great Collections
- David Lawrence Rare Coins
- APMEX
- JM Bullion
Major auction companies like Heritage, Stack‘s Bowers, Ira and Larry Goldberg, and Legend Rare Coin Auctions are excellent venues to buy and sell high-end rarities and condition census pieces. For more affordable coins, check out eBay, local coin shops, and regional and national coin shows.
Building a relationship with a trusted dealer or auction house expert is the best way to locate hard-to-find pieces for your collection. Networking with fellow collectors through coin clubs and online forums is also very helpful.
Eisenhower Dollars as an Investment
While most common-date circulated Eisenhower dollars are worth only a small premium over face value, higher grade Mint State and Proof examples have shown solid price appreciation over the long term. Rare varieties and errors have been especially strong performers.
According to the PCGS3000 Coin Index, which measures the performance of 3000 representative US coins, Eisenhower dollars had an ROI of around 9% annually from 1970 to 2020. Since the onset of the COVID pandemic, prices for high-grade examples have soared to record highs.
As with any coin investment, it‘s important to educate yourself, buy the best quality you can afford, and hold your purchases for the long term. Rare coins, including Eisenhower dollars, are a non-correlated asset class that provides useful portfolio diversification.
If you‘re on a limited budget, focus on collecting premium quality business strike clad Eisenhower dollars in MS65 and higher grades. These have the most potential for future appreciation. Silver issues are also highly desirable as a store of precious metal value.
Frequently Asked Questions
Q: What are Eisenhower dollars made of?
A: Circulating Eisenhower dollars dated 1971-1978 are made of outer layers of 75% copper and 25% nickel bonded to a pure copper core. 1971-1976-S Uncirculated and Proof issues for collectors were struck in 40% silver, with an outer layer of 80% silver and 20% copper.
Q: Are Eisenhower dollars rare?
A: While most Eisenhower dollars are very common, a number of dates and varieties are quite scarce, especially in gem Uncirculated and Proof condition. The rarest issues include the 1972 Type Two, 1973-S Proof Ike struck on a 40% silver planchet, and the 1976-S Type Two Clad Proof.
Q: How much is a 1776-1976 Eisenhower dollar worth?
A: The 1776-1976 Bicentennial Eisenhower dollar with the special Bicentennial reverse is worth $1.00 in Average Circulated condition. Uncirculated examples can sell for $10 to $30 or more, while silver Proofs regularly bring $20 to $50 each.
Q: What is the most expensive Eisenhower dollar?
A: The record price for any Eisenhower dollar is $41,400 for a 1976-S Type 2 Clad Proof graded PR66 by PCGS. Other expensive Ike dollars include the 1973-S indented planchet mated pair ($40,250), 1976 Type One overstruck on a quarter ($28,200), and various high-grade regular issues in MS67/PR70.
Eisenhower Dollars: Collecting a Piece of History
Eisenhower dollars occupy a fascinating niche in American coinage history. As the last large-size dollar coin struck for circulation and the first to honor a post-1900 historical figure, they bridge classic and modern numismatics.
Eisenhower dollars also represent an important era in our nation‘s history, marked by the Apollo moon landings, Vietnam War, and Bicentennial celebrations. Holding a "space-race" Ike dollar in your hand, it‘s easy to imagine the excitement and challenges of the 1970s.
While often eclipsed by the Morgan and Peace silver dollars that came before them, Eisenhower dollars are a series on the rise. With a wide range of collecting options at every budget level, they‘re an ideal series for newbies and hardcore variety specialists alike.
If you‘re looking for an affordable yet challenging and historically significant series to collect, you can‘t go wrong with Eisenhower dollars. By learning about the key dates, rarities, and strike types, you‘ll be well on your way to building a top-notch set of these impressive coins. Happy collecting!
