Despite being unpopular in 1972 for their size and boldness, 1972 Eisenhower dollars are now a collectors’ favorite. The face value of these coins is just $1, but if you’re fortunate enough to find a rare coin, it could be worth thousands of dollars. It would take more than a few sentences to provide accurate info on 1972 dollars. So, this is a comprehensive guide! Continue reading to learn the value of a silver dollar from 1972!
1972 Silver Dollar Popularity
In memory of the late President Dwight D. Eisenhower, who passed away on March 28, 1969, the U.S. mint produced Eisenhower dollars from 1971 to 1978. Over 170 million silver dollars were minted in 1972.
Frank Gasparro designed the obverse and reverse of the 1972 Eisenhower coins. The reverse side features a picture of an eagle landing on the moon, while the obverse side shows President Dwight D. Eisenhower. Also visible on the reverse side is a tiny bit of Earth.
The Denver Mint’s minting procedure went without a hitch, but the Philadelphia Mint used 3 different reverse dies, resulting in coins with the designations Type 1, Type 2, and Type 3. Many coin collectors and enthusiasts think that what makes 1972 Eisenhower dollars interesting are the earth variations, precisely the islands below Florida on three different types of Philadelphia minted coins.
These dollars have a $1 face value, but they are actually worth much more than that, especially if they are rare, proofs, uncirculated, or double-die dollars. Because they’re no longer in use, you’ll need to search for ike dollars to find them.
Is Your 1972 Eisenhower Dollar Silver?
Three minting facilities in Denver, Philadelphia, and San Francisco produced 1972 Ike dollars. Every coin has a mint mark close to the date, except for 75.8 million coins made in Philadelphia, which don’t have one.
The mark on the 92.5 million 1972 coins produced at the Denver mint reads “D,” while the mark on the approximately 2.1 million coins produced in San Francisco reads “S.” 1972 dollars aren’t all made of silver. The Denver and Philadelphia mints produce copper-nickel-clad copper coins, which have a copper core and a copper-nickel on the outside.
However, the silver content of 1972-S coins is 40%. These coins were produced exclusively for collectors and not for general use. Collectors were able to purchase these coins in single packs, also referred to as blue packs. The San Francisco proof versions were sold in brown cardboard slipcases.
Your Ike dollar is a 40% silver coin if it bears the mint mark “S.” You don’t need to conduct additional research or bother consulting an expert on this aspect.
Types Of Philadelphia 1972 Dollars
The reverse of the coin features all three of the differences. Frank Gasparro, Chief Engraver, included the Apollo 11 insignia in the reverse design. You’ll notice that the design above the eagle’s head and right wing depicts the planet Earth. You’ll also see additional geographic information about the Caribbean, Central America, and North America.
What distinguishes the three types is the degree of accuracy—or relative absence —in the looks of the Caribbean and Florida islands.
Let’s examine how these three varieties differ and how long they last.
From January through August, type 1 1972 dollars were in circulation. The nine-month production period for Type 1 Ike dollars resulted in a low numismatic value. On the reverse of Type 1 coins, the outline of the Earth is flat from approximately 9 to approximately 11 o’clock.
Additionally, all of the islands beneath Florida are directly below or to the right of the state. Besides that, the feathers on the eagle’s breast are clearly raised.
One speculated explanation for the Philadelphia mint’s decision to use a different reverse die is that Type 1 coins were struck with a low-relief design.
One die, which was in the run for just one production, was used to produce Type 2 Philadelphia Ike dollars. These coins were produced with a reverse die designed exclusively for Proof coins. In August, the Philadelphia mint made a mistake and used the proof reverse die.
Proof dies are known to only produce between 4,000 and 6,000 coins, whereas production dies can produce between 100,000 and 200,000 coins. As such, it is not surprising that a proof die will lose its shine fairly quickly when used to mint thousands of coins.
However, it is believed that fewer than 100,000 Type 2 coins were produced at the Philadelphia mint facility, making Type 2 coins the rarest and most expensive 1972 coins. And it goes without saying that Type 2 of the 1972 dollar coin series is the most valuable.
So how do you identify a dollar of Type 1972? First, Florida is surrounded by flat, nearly indistinguishable islands, which appear to be three flat lines that represent the water instead. Additionally, at the top and bottom of the Earth, North and South America appear flat and fade out.
The third type of reverse die, in which the Earth on the reverse depicts the proper map, was used by the Philadelphia Mint from September through the end of the year. Islands can therefore be seen below Florida to the south, west, and northwest.
These islands are Haiti, Cuba, Jamaica, and the Dominican Republic. The Earth’s outline is clearly defined, and the design has high relief.
Is Your 1972 Ike Dollar Proof, Uncirculated, Or Circulated?
Before attempting to estimate the value of your 1972 dollar, you must first determine whether it is a circulated, proof, or uncirculated coin.
The term “circulated coins” refers to those used in commerce since their creation. They may show significant wear and tear because they have been moving endlessly from wallets to shops to banks and pockets. Especially in 1972 Ike coins, which are now over 50 years old.
Coins that have been kept in store collections or private collections are considered uncirculated. As a result, they are in pristine condition and show no signs of wear or tear.
However, proof coins are struck differently from circulated and uncirculated coins. A specially crafted planchet with a mirror-like finish on which you can actually see a reflection is struck with a specially crafted coin die.
The fields have no frosting, and the details are solid and striking. Proof and uncirculated coins are obviously much more valuable than circulated coins. In the next section, we’ll go over how coin grading contributes significantly to the price of 1972 dollars.
Coin Grading System
The grades for uncirculated coins range from MS60 to MS70. Coins with marks all over them are graded MS60, while flawless coins are graded MS70. Most uncirculated coins fall into the MS60–63 and MS65+ range; these coins are hard to come by and very expensive if found.
Like uncirculated coins, proof coins are graded from 60 to 70. However, to designate proof coins, the prefix PR is used. Therefore, PR70-graded-proof coins are flawlessly shiny, mirror-like coins.
Additionally, a grading system for circulated coins includes good, very good, fine, very fine, extra-fine, and about uncirculated. When a coin is described as uncirculated (AU), it has a lot of mint luster, and the wear is only noticeable on the highest points. The price is anticipated to rise gradually along with the grade.
How Much Ia A 1972 Eisenhower Dollar Worth?
Various factors, including the strike type, circulated vs. uncirculated status, rarity, composition, and grading, affect the value of a 1972 Eisenhower dollar. These variables may affect a coin’s worth, but all coins are worth no less than their metal melt value, regardless of condition.
The 40% silver Ikes typically cost more than circulated versions of the clad coins in low grades because silver spot prices are higher than those for copper and nickel. The only mint that produced the 1972 silver coin was the San Francisco Mint.
As a result, all coins with an “S” under the President’s neck are more expensive. As a result, silver-plated coins are heavier than copper nickels. They weigh 24.59 grams overall and have a silver content of .3161 ounces, compared to 22.68 grams for copper-nickel coins.
The value of a coin is affected by a variety of additional factors. For instance, coin stickers with CAC and MAC are thought to raise a coin’s value.
It is debatable whether Type 2 1972 dollars are worth more or less, though. Even Type 1 and Type 3 MS66 and higher coins are uncommon and fetch thousands of dollars at auction. However, a Type 2 and MS65 or higher can easily fetch five figures.
The average auction price for coins from the 1972-S series graded MS69 is $3,000. Here is a small table to help you understand what to anticipate in the current market if you’re trying to buy or sell a 1972 silver dollar.
|Circulated||MS 63||MS 65||PR 65||PR 67|
|1972 Type 1||$5||$16||$95||N/A||N/A|
|1972 Type 2||$40||$125||$1920||N/A||N/A|
|1972 Type 3||$6.65||$23||$153||N/A||N/A|
Note: These prices were calculated using data from recent auctions available on the PCGS website. Values are given for coins that are a representative sample of their grade. However, readers are urged only to use this information as a broad estimate since it is in no way official pricing data.
Hopefully, we were able to answer all of your questions about 1972 dollars. Have you determined the value of the Ike dollar you own? Or do you intend to expand your coin collection by acquiring these old coins? Whatever your motivations, we hope you find the best deal possible!