The Eisenhower Dollar, minted from 1971 to 1978, holds a special place in American numismatics as the last large-sized dollar coin struck for general circulation. Named after President Dwight D. Eisenhower, this coin features his portrait on the obverse and a design inspired by the Apollo 11 moon landing on the reverse, symbolizing a tribute to both a beloved leader and a historic American achievement. While Eisenhower Dollars are widely available, grade is the defining factor that separates common coins from highly collectible pieces.
What Makes Grade So Important?
In the world of coin collecting, grade refers to the condition or preservation of a coin. The grading scale, established by the Sheldon Grading System, ranges from Poor (P-1) to Perfect Mint State (MS-70). Higher-graded coins often fetch significantly higher prices than their lower-graded counterparts because of their scarcity in pristine condition. For Eisenhower Dollars, this principle is particularly relevant due to the nature of their production and use.
Eisenhower Dollars were primarily minted for circulation, meaning most of them saw heavy use in commerce. As a result, finding examples with minimal wear, clean surfaces, and sharp strikes can be challenging. Even coins struck for collectors, such as Proofs and Uncirculated versions, can vary widely in quality due to factors like contact marks, strike sharpness, and luster.
For collectors seeking Eisenhower Dollars, focusing on high-grade specimens is essential to building a premium-quality collection, whether for personal enjoyment or investment purposes.
Circulation Strikes vs. Collector Issues
Eisenhower Dollars were minted in both circulation strikes and collector-specific formats. Circulation coins were struck at the Philadelphia and Denver Mints, while San Francisco produced Proof and Special Mint Set (SMS) coins.
- Circulation Strikes: These coins often have visible contact marks and signs of wear due to mass production and distribution. High-grade examples of these coins, especially in Mint State 65 (MS-65) or higher, are scarce and command premium prices.
- Collector Issues: Proof Eisenhower Dollars and those struck in 40% silver were produced specifically for collectors. These coins generally have better surface quality, but their grades can still vary significantly. Proofs graded PR-69 Deep Cameo (DCAM) or higher are highly desirable for their pristine condition and reflective surfaces.
Key Dates and Variants
Not all Eisenhower Dollars are created equal, and certain dates, mintmarks, and varieties are particularly valuable in higher grades:
- 1971 and 1972 Type Varieties: The 1972 Eisenhower Dollar has three reverse design types, with Type 2 being the rarest and most valuable in high grades.
- 1973 and 1973-D: These were struck in lower quantities, making Mint State examples relatively scarce.
- 1976 Bicentennial Issue: Featuring the dual-date “1776–1976” and a special reverse design, high-grade examples of this coin are sought after, especially in 40% silver versions.
The Role of Third-Party Grading
Third-party grading services, such as PCGS and NGC, are essential when collecting Eisenhower Dollars. These companies authenticate and grade coins, providing them with a numerical grade and encapsulating them in protective holders. A graded coin from a reputable service offers collectors confidence in their purchase and makes the coin easier to sell or trade.
Graded Eisenhower Dollars in MS-66, MS-67, or higher are exceptionally rare for circulation issues and can command thousands of dollars at auction. For Proof coins, PR-70 Deep Cameo examples are similarly sought after due to their perfection.
Building an Eisenhower Dollar Collection
When building a collection, collectors should aim to acquire coins with the highest grade they can afford. Whether focusing on circulation strikes, silver issues, or Proofs, grade plays a critical role in determining a coin’s value and desirability. Additionally, collectors should familiarize themselves with the key dates, varieties, and errors within the series, as these add an extra layer of interest and potential value to a collection.
Conclusion
The Eisenhower Dollar is an accessible and fascinating series for collectors, but its value and appeal are directly tied to grade. While lower-grade examples are common and affordable, high-grade coins stand out as true gems of the series. Whether you’re a seasoned numismatist or a beginner, paying close attention to grade is essential when dealing with Eisenhower Dollars. By prioritizing quality, collectors can build a collection that is not only historically significant but also financially rewarding.
FAQs
1. Why is grade so important for Eisenhower Dollars?
The grade determines the coin’s condition and directly impacts its value. High-grade Eisenhower Dollars, especially in Mint State 65 or higher, are rare and more desirable to collectors.
2. What are the key dates or varieties in the Eisenhower Dollar series?
Key dates include the 1972 Type 2 Reverse, the 1973 and 1973-D issues, and 40% silver Bicentennial coins. These are highly sought after in high grades.
3. Should Eisenhower Dollars be graded by a third-party service?
Yes, professional grading by services like PCGS or NGC provides authentication, ensures accurate grading, and increases the coin’s marketability and value.