1971 Eisenhower Dollar : A Collector’s Guide

By Charles Morgan and Hubert Walker for CoinWeek Notes …..
 

Why Was the 1971 Eisenhower Dollar Made?

Even though the United States had no real need for a large dollar coin at the start of the 1970s, the gaming industry developed an acute need to find a replacement for the silver dollars it used to feed tens of thousands of slot machines. This “need”, and the recent passing of beloved war-hero-turned-President Dwight D. Eisenhower, presented Congress with an opportunity to cater to the needs of the industry. While United States Mint Director Mary Brooks lobbied for the coin to be struck in silver, Congress instead chose to strike the coin for circulation in the same copper-nickel (Cu-Ni) clad composition in use for the dime and quarter dollar. In a compromise, silver-clad versions were authorized to be struck and sold to collectors.

Signed into law by President Richard M. Nixon (formerly Eisenhower’s Vice President) on December 31, 1970, the Bank Holding Company Act Amendments of 1970 authorized the production of the coin.

(Incidentally, the amendments also authorized the General Services Administration (GSA) to sell 2.8 million Carson City Morgan Dollars from the vaults of the United States Treasury.)

First-year production totals were large (47,799,000 for the 1971 Eisenhower Dollars struck at the Philadelphia Mint and 68,587,424 for the Denver-Mint-produced 1971-D Eisenhower Dollars) but paled when compared to the mintage of the 1971 Kennedy Half Dollar, which was struck in Cu-Ni clad for the first time this same year. While hundreds of millions of Eisenhower Dollars were struck, with many millions entering circulation, the coin was more of a novelty item than a useful coin for the purposes of commerce.

How Much Is the 1971 Eisenhower Dollar Worth?

The 1971 Eisenhower Dollar is worth a wide range of prices, from $1 for a beat-up circulated example, to potentially $10,000 to $20,000 for virtually flawless examples in the Superb Gem grade of MS67. Finer examples have yet to be certified.

Why would a modern coin have such a range of values? The answer lies in the coin’s production history.

Creating a Cu-Ni Eisenhower Dollar–a large silver-dollar format coin–proved to be quite a technical challenge. The Denver Mint, which began production of the coin a few weeks before Philadelphia, fared better. Coins struck at Denver have a sharper, cleaner look. Some even appear to have been struck on highly polished planchets. Most Philadelphia issues appear dull, lacking in luster, and have residual annealing chatter marks on the high points of the relief (typically on Eisenhower’s chin and hair).

As the business strike Eisenhower Dollar was not issued in U.S. Mint annual sets until 1973, examples that survive in Mint State were originally saved from circulation. Because of this, uncirculated examples of the 1971 (P) issue are worth slightly more than issues struck in 1974 forward. The 1973 is a Mint Set-only issue and carries a slight premium, but truthfully, the 1971 (P) and 1972 (P) issues are more difficult to source in Mint State and should be worth more because of that.

In Mint State 65, the 1971 (P) carries a price of about $80 according to CoinWeek’s current market analytics. This is significantly down from the pricing levels the coin has traded at in recent years. Rising TPG populations and a malaise in the modern coin market bears some responsibility. True Gems with great eye appeal can sell for many times more. Our MS66 market price for the issue, as of November 2023, is about $600. CAC coins with very high eye appeal can bring premiums over this number.

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Market Data and Noteworthy Specimens

Top Population: PCGS MS67 (4, 2/2025), NGC MS66+ (12, 2/2025), and CAC MS66 (30:1 stickered:graded, 2/2025).

• 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. As PCGS MS67 #44363829. 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.
• PCGS MS66+ CAC #48526964: GreatCollections, April 28, 2024, Lot 1190815 – View; GreatCollections, June 30, 2024, Lot 1608106 – View. Peacock green toning throughout.
• PCGS MS66+ #46374002: Stack’s Bowers, August 18, 2023, Lot  6498 – $2,880.
• PCGS MS66+ CAC #84949787: Heritage Auctions, September 8, 2017, Lot 4775 – $3,840.
• PCGS MS66+ #25622861: Heritage Auctions, April 29, 2016, Lot 5458 – $5,640.
• PCGS MS66+ CAC #25230841: Heritage Auctions, April 24, 2015, Lot 5934 – $9,987.50; Joe Shirley, Jr. (Sonoran Monsoon); “The Sonoran Monsoon Collection,” Heritage Auctions, January 8, 2016, Lot 6204 – $7,637.50. Reholdered. Sonoran Monsoon on insert.
• PCGS MS66+ CAC #25256589: Stack’s Bowers, November 2014, Lot 5293 – $10,281.25.

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Eisenhower Dollar Design

Obverse:

Frank Gasparro’s portrait of Dwight D. Eisenhower (as President); Eisenhower facing to the left. Gasparro’s initials FG appear raised in the bust truncation. Beneath Eisenhower’s chin, to the left, is the motto IN GOD WE TRUST. The word LIBERTY wraps around the top of the coin in the space between the rim and the top of Eisenhower’s head. The date wraps around the bottom of the design, between the rim and the bottom of Eisenhower’s bust truncation. Philadelphia-struck pieces bear no mintmark.

Reverse:

The reverse is based on Michael Collins’ Apollo 11 Mission Patch design.

In the center, a bald eagle is in descent. In its talons, an olive branch. Its left wing is raised. The lunar surface lies below. Above the eagle’s head is a depiction of the Earth – North America is prominently visible. Wrapping around the top of the coin adjacent to the rim is the legend UNITED STATES OF AMERICA. Thirteen small five-pointed stars circle around the eagle. Below the ring of stars but above the eagle is the motto E PLURIBUS UNUM. Wrapping around the bottom of the design is the denomination ONE DOLLAR.

Edge:

The edge of the 1971 Philadelphia Eisenhower Dollar is reeded.

Designer

Frank Gasparro served as Chief Engraver of the United States Mint from 1965 to 1981 (View Designer’s Profile).

Coin Specifications

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