In the early 1970s, the gaming industry’s need for a replacement for silver dollars led Congress to authorize the production of the Eisenhower Dollar. This coin, honoring war-hero-turned-president Dwight D. Eisenhower, was initially intended to circulate in a copper-nickel composition. However, silver-clad versions were also struck for collectors.
Eisenhower Dollar Production
The first 1971-S Eisenhower Dollar was minted in San Francisco in March 1971. This specific coin, known as the Blue Pack, is considered the poorest in quality and strike among the Ike dollars.
Market Data and Noteworthy Specimens
The market price for a 1971-S Eisenhower Dollar in its original packaging is around $15 USD. However, certified grades can trade for considerably more, with MS67 coins fetching $250 or more.
1971-S Eisenhower Dollar Varieties
Two notable varieties of the 1971-S Eisenhower Dollar are the FS-401 “Peg Leg” and FS-501 “S/S RPM.” The FS-401 variety typically trades for about $40, while the FS-501 can fetch around $200 for certified MS66 examples.
Additional Insight:
– The controversy surrounding the striking of silver-clad Eisenhower Dollars for collectors highlighted the competing interests of the gaming industry, Congress, and the numismatic community.
– The low quality of the 1971-S Eisenhower Dollars in general circulation compared to other years is a point of interest for collectors.
– Varieties like the FS-401 and FS-501 add intrigue to the collecting experience and increase the value of these coins.
Design and Specifications
Designed by Frank Gasparro, the Eisenhower Dollar features a portrait of President Eisenhower on the obverse and the Apollo 11 mission patch design on the reverse. The coin has a reeded edge and contains 80% silver in the outer layer.
Additional Insight:
– The significance of the Apollo 11 mission patch on the reverse of the coin pays tribute to the historic moon landing in 1969.
– The edge of the 1971-S Eisenhower Dollar’s reeding is a nod to traditional U.S. coin design and security features.