Eisenhower Dollars were created by the United States Mint between 1971 and 1978. Despite being present in Las Vegas casinos, these were only widely distributed throughout some of the United States.
Ike Dollars is a name you may be familiar with. The late president’s nickname inspired this alternative name for the Eisenhower dollar. Being the last large-size dollar still in circulation makes the 1971 silver dollar one of the most sought-after coins today.
Discover more about this silver coin’s value, history, and collectibility.
The History
Richard Nixon, the president at the time of Dwight D. Eisenhower’s passing in 1969, approved the legislation to mint a new coin in his honor. Since the Peace dollar series ended in 1935, the Eisenhower dollar was the first to have a copper-nickel-clad metallic base. Copper-nickel-clad Eisenhower dollars were in circulation from 1971 until 1978. However, it was also available in 40% silver at the US Mint in San Francisco.
The 1971-S proof varieties and 1971-S uncirculated were the two releases of these series. Due to their rarity, both are of particular interest to collectors. The United States Mint made some minor changes throughout the eight-year production run. This is the reason why you can now find various design elements.
Three distinct die varieties exist, one of which is relatively uncommon. The nation’s bicentennial was commemorated by releasing a distinctive reverse design. On the mood, these have a replica of the Liberty Bell. The design by Dennis R. Williams was chosen to commemorate the moon missions and the 200th anniversary of the Declaration of Independence. Since the state started making these coins in 1975, no Eisenhower dollars bear a 1975 date.
It’s important to remember that the US Mint produced 47,799,000 of the 1971 silver dollars. However, this is not always consistent with the number of coins in circulation. To put it another way, these figures don’t account for coins that have been melted, destroyed, or never released.
How Much Is A 1971 Silver Dollar Worth?
The price of silver itself often determines the value of silver coins. Remember that some were proof specimens while others were uncirculated. Eisenhower dollars are collectors’ favorite, although they aren’t really worth anything more than their silver weight.
A regular 1971 Eisenhower dollar in MS 63 choice uncirculated state is about $14, while a coin in MS 65 gem uncirculated state is worth roughly $20.
However, occasionally, the cost of silver affects how much it costs. A 1971 silver dollar’s price might fluctuate since silver costs $25 per ounce.
Grading System
A 1971 silver dollar’s value typically does not consider any particular grading system. To help you approximate the cost slightly, it is best to be familiar with the system.
- The MS 63 choice uncirculated coin has a noticeable contact mark or blemish. Its shine is also less noticeable.
- Strong luster is present on MS 65 gem uncirculated. It usually has a few barely visible contact marks.
- The PR 65 proof may have a few imperfections, but it is otherwise flawless.
Remember that high-grade 1971 silver dollars are difficult to find. If you find any, they probably have a few blemishes and contact marks.
Mint Marks
Three different American mints produced Ike dollars. As a result, the 1971 silver dollar bears the mint initial and a mark on the obverse. There is no mintmark on Philadelphia-produced coins. Denver-made pieces have a D, while San Francisco-made products have an S. The mark is visible beneath the president’s image and above the date.
The Chart
Looking at the chart below, you can better understand the distinction between the buy price and the sell value. You might sometimes run into different prices when buying or selling because these are approximations of retail prices.
To put it another way, a specific coin dealer may vary the value and price differently. Along with other elements they deem crucial, they will consider the coin’s grade when determining its value. A
As a result, consider the chart more of a guide.
| Date and Mint | Circulated Buy | Circulated Sell | Uncirculated Buy | Uncirculated Sell |
| 1971 | $2.00 | Face Value | $5.50 | $4.00 |
| 1971-D | $2.00 | Face Value | $5.50 | $4.00 |
| 1971-S Silver | $7.00 | Bullion Value | $14.00 | $9.50 |
| 1971-S Slv. Proof Proof | / | / | $14.00 | $10.50 |
| 1971-S Slv. Pr Cameo Proof | / | / | $15.00 | $12.50 |
| 1971-S Slv. Pr Deep Cameo Proof | / | / | $16.00 | $11.00 |
Note: This is about what to anticipate when buying or selling. It’s important to remember that because these are collectible pieces, you might find that the prices are much higher. In March 2012, a Heritage auction saw the highest price: $6,900.
Blue Pack Ike Dollars
Regarding quality and strike, the 1971-S dollar is the least desirable. It had a special insert that stated it was manufactured carelessly when it was put up for sale.
Whether you are looking at certified or uncertified 1971-S coins, it is simple to see this. While most 1972-1974 Blue Pack Ike dollars are MS66 to MS67, the majority of 1971-S Silver dollars are MS63 to MS65.
The Varieties
The FS-401 – Peg Leg
Despite being struck between 100,000 and 150,000 times, only five coins have received NGC, and 367 have received PCGS certification. If you also have authentic government packaging, the FS-401 variation trades for about $40. You can get certified pieces in the grade MS67 for about $300.
The FS-501 S/S RPM
These RPMs are the most common because the re-punched mintmark is obvious. However, you’ll notice that it becomes more difficult to spot as the dye ages and is more evident on coins struck with recent dye. In its original packaging, this one sells for around $40. If they have NGC or PCGS certification, examples in MS66 can fetch about $200.
In January 2016, a single MS67 coin fetched an astounding $8,813 at the Heritage auction. If more examples surfaced, the value would likely decrease.
Collecting A 32-Coin Set
You shouldn’t have any trouble collecting all 32 Eisenhower coins. But many of these coins had poor strikes. As a result, many pieces, particularly those from 1971 and 1972, have marks, nicks, and scratches. Due to the lack of precious metals, 1971 silver dollars are rarely melted.
It’s challenging and expensive to amass a complete set of high-quality coins. This is even more true for Denver and Philadelphia coins from 1971 and 1972. The only way to get these was through banks; they were never offered in mint sets. Also, remember that in June 2013, a 1973-D that was sold for $12,925 was tied with 10 other coins with the same date and mintmark.
All of the standard-issue proof and business-strike examples are included in the 32-coin set. It contains Eisenhower dollars made of 40% silver with the dates 1971-S to 1976-S. For less than $500, a set of proof and uncirculated coins can be acquired. If you’re willing to spend a little more, look for each regular-issue coin in gem condition, including proof-67 and higher coins.
Unfortunately, The US Mint did not take much care when handling or transporting these coins. This indicates that many of them have scratches or other types of damage. Given that, it’s simple to comprehend why it’s so challenging to locate a 1971 dollar in perfect condition. The most expensive gem coins can sell for up to $1,000.
Where To Buy Or Sell 1971 Eisenhower Silver Dollar?
Clad versions of the 1972 dollar are widely available on online marketplaces such as eBay and Etsy. If you own a 1971-D coin variant but are unsure what to look for, you need to check with a coin-collecting forum to ensure your coin isn’t the more expensive “friendly eagle” variant.
SEE: 2009 Penny: Features and Value
Should I Invest in the 1972 Silver Dollar?
A 1971 dollar can sell for much more than its lowest price of around $4. Of course, the condition, variety, mint mark, and other factors affect how much it is worth. Because it was only used in casinos on the west coast, the 1972 dollar was somewhat of a failure. Nevertheless, it’s a unique collectible coin that many collectors covet.
The 1971 silver dollar should be your starting point if you’re trying to finish a set since production started that year. It can be challenging to locate in mint condition for several reasons, but primarily because no special care was taken during production. These rolls of coins are still traded for paper money today, and this is yet another reason why uncirculated examples cost more than circulated examples.
It should be easy to determine whether or not your 1971 Eisenhower Dollar is worth a significant sum. To ascertain its rarity and condition, an expert needs to analyze it.