By Charles Morgan and Hubert Walker for CoinWeek Notes…
Why Was the 1971 Eisenhower Dollar Made?
The decision to create the 1971 Eisenhower Dollar was primarily driven by the gaming industry’s need for a replacement for silver dollars used in slot machines. This coincided with the passing of President Dwight D. Eisenhower, providing Congress with an opportunity to cater to this need. Though United States Mint Director Mary Brooks advocated for the coin to be struck in silver, Congress chose to issue it in the same copper-nickel clad composition as the dime and quarter dollar, with silver-clad versions for collectors. The Bank Holding Company Act Amendments of 1970, signed by President Richard M. Nixon, authorized the production of the coin.
Insight: The decision to create the 1971 Eisenhower Dollar reveals the intricacies of balancing industrial needs with historical significance, showcasing how coins can serve various purposes beyond standard commerce.
How Much Is the 1971 Eisenhower Dollar Worth?
The value of the 1971 Eisenhower Dollar can range from $1 for circulated examples to as much as $10,000 to $20,000 for flawless specimens graded as MS67. The coin’s varying values stem from its production history, with Denver Mint coins generally having crisper details compared to Philadelphia Mint pieces. Surviving Mint State examples were initially saved from circulation, making uncirculated 1971 (P) issues more valuable compared to later strikes. The uniqueness of the coin’s production process contributes to its diverse pricing range.
Insight: The varying values of the 1971 Eisenhower Dollar underscore the importance of understanding a coin’s historical context and production nuances in assessing its worth in the numismatic market.
Market Data and Noteworthy Specimens…
Top Population: PCGS MS67 (4, 8/2024), NGC MS66+ (12, 8/2024), and CAC MS66 (29:1 stickered:graded, 8/2024).
– PCGS MS67 #25303293: GreatCollections, June 25, 2023, Lot 1357838 – $9,675. Brilliant.
– PCGS MS67 #44363829: As PCGS MS66+ CAC #81635048. Heritage Auctions, November 1, 2016, Lot 5428 – $3,525; Heritage Auctions, October 7, 2021, Lot 3266 – $6,600; Stack’s Bowers, April 7, 2022, Lot 6187 – $10,200. Peacock green toning throughout.
– PCGS MS67 #29472235: GreatCollections, June 13, 2021, Lot 986175 – $19,186.88. Brilliant.
– …..
Insight: The detailed market data on the 1971 Eisenhower Dollar provides collectors with valuable information on pricing trends and notable auction results, aiding in making informed decisions about acquiring these numismatic treasures.
Eisenhower Dollar Design…
The obverse of the coin features Frank Gasparro’s portrait of Dwight D. Eisenhower, while the reverse showcases Michael Collins’ Apollo 11 Mission Patch design. The unique blend of historical and space-themed elements in the design symbolizes Eisenhower’s presidency and America’s achievements in space exploration.
Designer…
Frank Gasparro’s role as Chief Engraver of the United States Mint from 1965 to 1981 highlights his influence on American coinage during a transformative era in the nation’s numismatic history.
Coin Specifications…
The 1971 Eisenhower Dollar, minted without a mintmark at Philadelphia, weighs 22.68 grams, has a diameter of 38.10 mm, and is composed of Copper-Nickel (Cu-Ni). The coin’s specifications reflect the technical intricacies of producing a large-dollar format coin during that period.
Insight: Examining the specifications and design of the 1971 Eisenhower Dollar provides a deeper understanding of the coin’s historical significance and technical complexity, contributing to its value in the numismatic community.