1971-78 Dollar Dwight D. Eisenhower

This historical information is provided complements of NGC (Numismatic Guarantee Corporation). NGC is the "grading service of choice" of the ANA (American Numismatic Association), the largest collector oriented organization in the United States. NGC is one of the two largest independent grading services. NGC has been grading coins since 1987, and have graded in excess of four million coins.

When the Treasury Department ordered a halt to the paying out of silver dollars in March of 1964, it looked like the final chapter had been written for these historic coins. Surprisingly, Congress voted that same year to coin 45 million additional silver dollars. Coming in the midst of a severe nationwide coin shortage, this seemingly frivolous employment of the Mint's machinery and manpower was terminated after just 316,076 pieces had been struck, and these coins were never issued. The Coinage Act of July 23, 1965 included a provision that no standard silver dollars were to be coined for a period of five years. The situation could then be re-evaluated at that time.

As the end of Congress' five-year ban on silver dollars approached, the idea was conceived for a circulating dollar coin to honor war hero and two-term President Dwight David Eisenhower, who had recently died. With silver long gone from the nation's dimes and quarters, and with ongoing debate over its discontinuance in the half dollar, there was never any serious consideration of including the precious metal in circulation strikes of the new Eisenhower dollar. There were those, however, who argued for a silver collectors' edition to be sold at a premium over face value.

Congressman Bob Casey of Texas introduced a bill into the House on October 29, 1969 calling for a circulating commemorative dollar to honor both Eisenhower and the Apollo XI space flight, mankind's first landing on the moon. More than a year of political wrangling was to follow before this bill was finally approved in a modified form. Along the way, the U.S. Mint prepared an alternative reverse design featuring a heraldic eagle that looked, in the words of noted numismatic author Q. David Bowers, like something one would find on a Mint pattern of the 1870s. Reportedly, one of the two proposed reverse designs (probably the Apollo XI image, given its implications for the world's future) originally featured an eagle whose expression the U.S. State Department feared other nations would interpret as hostile. Whether the eagle which ultimately did appear on the coin's reverse is a "friendly" bird is difficult to ascertain from its neutral expression.

Becoming law on December 31, 1970, the bill that created the Eisenhower dollar providing for a circulating coin made from the copper-nickel sandwich or "clad" composition then being used for dimes and quarters (and for half dollars beginning in 1971). It also permitted the coining of up to 150 million silver-clad coins for sale to collectors. These would be coined in the same composition lately used for halves dated 1965-70, two outer layers that were 80% silver and 20% copper bonded to an inner core that was approximately 21% silver and 79% copper. This created an overall mix that was 40% silver, with the balance being copper. A controversial amendment to this bill provided that a portion of the profits from the sale of these collector coins would be donated to Eisenhower College, a private institution in Seneca Falls, New York which ultimately folded despite receiving some $9 million dollars from this source.

As Mint Director Mary Brooks wanted the coins produced quickly, there was no time for a public design competition. Chief Engraver Frank Gasparro was directed to prepare the models in as little time as necessary. Anticipating this coinage, Gasparro had already begun work; his galvano for the obverse bore the date 1970, even though the first Ike dollars were dated 1971. His design portrays on the obverse a bare-headed, left-facing profile bust of the late president. Arranged in an arc above him is the legend LIBERTY, while the motto IN GOD WE TRUST appears in two lines below Eisenhower's chin. The date is at bottom, with the mintmark (if any) above it and to the right. Gasparro's initials FG are on the truncation of the bust. The reverse depicts the American eagle, an olive branch of peace in its talons, descending onto the moon. The distant Earth is in the field above and to the left. The motto E PLURIBUS UNUM is centered above the eagle, and the legend UNITED STATES OF AMERICA is arranged in an arc around the upper periphery. The value ONE DOLLAR is superimposed on the moon's surface along the lower periphery. An arc of small stars surrounds the eagle, Earth and the motto. The initials FG appear below the eagle's tail.

Why the coins were not ready to be issued until November 1, 1971 isn't certain, although it was rumored that numerous trial strikes were rejected because of design deficiencies. Collectors snapped up a good portion of the dollars released that day and for some months afterward. Still, enough were coined that they ultimately reached the channels of commerce. It was only then that the fundamental flaw in Congressional thinking was revealed: the American public simply had no desire to use these large and heavy coins. True, gambling casinos welcomed the return of real dollar coins to supplant the dollar-sized tokens that had been utilized since 1965, but even the casinos ultimately tired of these coins. Too often, customers took them home as souvenirs, since they were seldom seen elsewhere and people imagined them to be rare.

With a dropoff in demand for new Ike dollars, the Mint opted to strike only enough of the 1973 edition to fulfill orders for uncirculated coin sets from collectors. This left a net mintage of less than 2 million each for the Philadelphia and Denver Mints. From the outset, San Francisco had coined only the special collector coins: the uncirculated edition of the silver-clad composition (known from its packaging as the "blue Ike") and the proof version of the same coin (known as the "brown Ike"). Beginning in 1973, it also coined a proof version of the copper-nickel coin for inclusion in the regular proof set.

The nation's impending Bicentennial resulted in a competition for commemorative designs to grace the reverses of the quarter, half and dollar, respectively. The winning design for the dollar's reverse was submitted by Dennis R. Williams, whose clever concept of the Liberty Bell superimposed on the moon provided a link between past and present (his initials DRW are found to the right of the bell's clapper). The regular dollar coinage dated 1974 continued until the middle of 1975, when production of the new Bicentennial designs dated 1776-1976 began. This left no dollar coins dated 1975. The Bicentennial pieces were first released in the fall of 1975, and their mintage continued through the following year. Silver-clad coins were made at San Francisco, in addition to the circulating version coined at Philadelphia and Denver. The regular design returned in 1977 and 1978, when the Eisenhower series was terminated in favor of the ill-fated Susan B. Anthony "mini dollar." For these two years, however, no Ikes were coined in silver.

There are no rare dates within the regular coinage of Eisenhower dollars, although several issues, particularly 1971 and 1972 dollars from the Philadelphia Mint, were poorly made and are difficult to locate choice. A number of minor varieties resulted from refinements to the hubs during the first few years. The Bicentennial coins exist with either the Variety 1 reverse (broad letters) or the Variety 2 (narrow letters). A small quantity of silver-clad dollars were made at the Denver Mint in error and may be found dated 1974-D, 1976-D or 1977-D. Proofs of the Bicentennial dollar were coined in 1974 at the Philadelphia Mint without a mintmark, but none are currently known to survive. A single silver-clad proof of the second variety has been documented without a mintmark, its place of origin unknown.

SPECIFICATIONS:

Diameter: 38.1 millimeters

Weight: 24.59 grams (silver-clad)
Composition: .800 silver, .200 copper bonded to .209 silver, .791 copper

Net Weight: .3161 ounce pure silver
Weight: 22.68 grams (CuNi-clad)Composition: .750 copper, .250 nickel bonded to pure copper
Edge: Reeded

BIBLIOGRAPHY:

Bowers, Q. David, Silver Dollars & Trade Dollars of the United States, A Complete Encyclopedia, Bowers and Merena, Wolfeboro, NH, 1993.

Breen, Walter, Walter Breen's Complete Encyclopedia of U.S. and Colonial Coins, F.C.I. Press/Doubleday, New York, 1988.

Yeoman, R.S., A Guide Book of United States Coins, 48th Edition, Western Publishing Co., Racine, WI, 1994.

 

IMPORTANT NOTICE
FACTORS YOU MUST CONSIDER IN PURCHASING COINS AND BULLION ITEMS

 

RISK: The purchase of coins or bullion items are highly speculative and involves substantial risk. As in other markets, coin or bullion prices can be extremely volatile and will rise and fall depending upon market conditions. Therefore, before purchasing coins or bullion, you should first have adequate cash reserves and other assets to absorb a potentially significant loss. Sorry, but we do not make recommendations, we think you should buy what you want.

 

HOLDING PERIOD: Historically, few coins or bullion items  have appreciated dramatically in the short term. Therefore, purchasers should recognize that it may well be necessary for them to hold coins for a 3 - 5 year period, or even a 5 - 10 year period, to have any chance of realizing a significant   gain.

 

The Tulving Company (Since 1990)

P.O. Box 6200, Newport Beach, CA 92658
800-995-1708, FAX 714-545-3031
If You Are in Alaska or Hawaii, call 714-545-3030

E-Mail hannes@tulving.com

 

Return to The Tulving Company Homepage

 

Gold, Platinum, Palladium & Silver Coins

 

2008 Gold Silver Platinum Eagle Rolls Bags Boxes PCGS Coins Site Map

2008 Gold Silver Platinum American Eagles

2008 $50 American Eagle 1 Oz

2008 American Silver Eagles Dollar Coin Mint Box

2008 American Eagle 1 Oz Silver $1 Coins

PCGS First Strike US Silver Eagles 2008 American Eagles Coin Rolls

 

2008 1 Oz Gold Coins

2008 Buffalo $50 Gold 1 Oz Coins

2008 Canadian Maple Leaf $50

2008 Chinese Panda 1 Oz Coin

2008 Australian Gold Lunar Mouse Rat

2008 Austrian Philharmonic 1 Oz Gold

 

Silver Bars Coins Bags Rolls Box

American Eagle 1 Oz Silver Dollar

90% Junk Silver Coin Bag

American Silver Eagles Dollar Coin Box

A-Mark 1 Oz Silver Rounds Rolls

Engelhard Silver Bars JM 100 Oz Johnson Matthey

American Silver Eagle Box of $1 Rolls

A-Mark Silver 10 Oz Bars

100 Oz Silver Bars .999 Bar

1 Oz Silver .999 Rounds

1 Oz American Silver Eagle Dollars

 

American 1/10, 1/4, 1/2, 1 Oz Gold Silver Platinum Eagles

Platinum 1 Oz American Eagle

American Eagle $50 Gold 1 Oz Coin

Eagle Gold $25 Dollar American 1/2 Oz Coins

Proof 1 Oz American Eagle 50 Dollar

1/10 American Eagles $5 Gold Rolls

American Eagle Gold 10 Dollar 1/4 Oz Coins

1 Oz American Eagle Gold 50 Dollar Coin

Silver Eagle Proof Dollar Coins

Silver Platinum American Eagles Mintages

 

PCGS PR69DCAM MS70 MS69 PR70DCAM $1 $5 $10 $25 $50 Coins

PCGS MS70 1/10 Gold American Eagles

Proof Sacagawea PCGS PR69DCAM $1

Silver Eagle Dollar PCGS PR70DCAM

$100 American Platinum 1 Oz Eagle Proof Coins

Buffalo PCGS PR70DCAM $50

PCGS MS70 EAGLES $5 $10 $25 $50

Platinum American Eagle $50 PCGS PR69DCAM

Proof Silver Eagle PCGS PR69DCAM American $1

PCGS Certified Presidential Rolls

 

Gold Bullion 1 Oz Coins And Bars

Australian Gold Kangaroo 1 Oz Nugget

Austrian Philharmonic .9999 Bullion 1 Oz Coins

2007 Canadian Maple Leaf .99999

American Buffalo .9999 24 K

Chinese Panda 1 Oz Gold Coins

South African Gold Krugerrand 1 Oz

Credit Suisse 1 Oz Gold .9999 Bar

Pamp Suisse Gold 24 Karat Bars

South African Gold Krugerrand 1 Oz Coins

Johnson Matthey Gold Bars JM Bullion Bar

 

Canadian Maple Leaf Gold Platinum Palladium 1 Oz Coins

Canadian Maple Leaf .9999 1 Oz

1 Oz .999 Gold Canadian Maple Leaf

Canadian Platinum Maple Leaf  Coin

Canadian Maple Leaf Bag Marked Coins

Canadian Palladium Maple Leaf 1 oz

 

Australian Lunar Series 1 Oz Gold Coins

Perth Mint Australian Lunar 1 Oz  Rat 1996 Mouse

Gold Lunar Coins From Australia 1997 Year Of Ox

Australia Gold 1 Oz Chinese Lunar 1998 Tiger Coins

Chinese Lunar Coin From Australia 1999 Rabbit

Australian Lunar Dragon 2000 1 Oz Coins

Perth Mint Gold Australian Snake 2001 Serpent

Australian Lunar Series One 2002 Horse Coins

1 Oz Australian Gold 2003 Chinese Lunar Goat

Chinese Lunar 2006 Rooster From Australia

Australian Lunar Series One 2006 Dog

Australian Lunar Calendar Pig 2007 Boar

Buy Gold Silver Platinum Palladium Coins Buying Bullion Bars

Buy Australian Gold Lunar Coins

Buy Gold Coins 1 Oz Canadian Maple Leaf $50

Buying Selling Silver Bullion 10 Oz Bars

PCGS Gold American Eagle MS69 Buy Sell

Buying Gold Silver Platinum Bullion Coins

We Sell Gold Palladium Platinum Silver Bullion Bars Coins For Less

Buy Sell Gold Silver Selling Buying Gold Bars Bags Boxes

Certified Coin Dealer Buys And Sells Gold Coins

Buy Sell Gold Silver Platinum Bullion Bars Coins

Buying Platinum Coins

Buying Gold Coins

Buying Silver Eagles American Eagle Coins

 

Pre 1933 U S Gold Coins

$20 Saint Gaudens Double Eagles Pre 1933

$20 Liberty Pre 1933 U S  Double Eagles

PCGS MS62 US $20 Gold Liberty Double Eagle Coins

US $20 Gold Liberty Double Eagle PCGS MS63 Coins

PCGS US Gold $20 Liberty Double Eagle MS65 Coins

PCGS US Gold $20 Saint Gaudens Double Eagle MS64 Coins

US $20 Gold Saint Gaudens Double Eagle PCGS MS62 Coins

 

Pre 1933 Foreign Gold Coins

Swiss Helvetia 20 Franc Pre 1933 European Coins

British Sovereign ( King )

French Rooster World Coins

British Sovereign Queen Victoria Coins

World Gold French Angel 20 Franc

Italian Umberto 20 Lira

Belgium Leopold 20 Franc

Netherlands 10 Gulden Kings

Russian 15 Rubles

World Gold French Napoleon 50 Francs

European Pre 1933 Gold Danish 20 Kroner

Swedish 20 Kroner

German 20 Mark

 

Tulving Company Information

Important Information And Services

Company Day Night And Weekend Phone Hours

Free Overnight Shipping

Bullion Specials

References And Bank Wiring Instructions

PCGS Certified Coin Financing

Family Members Working For The Tulving Company

PCGS Coins Only EBay Store

Gold Platinum In Your IRA

24 K American Buffalo Coin Praise

 

Free Historical U S Coin Information

Carson City Mint

Dahlonega Mint

Charlotte Mint

Liberty Type 1 Double Eagles

Double Eagle Liberty Type 2

Type 3 Double Eagles

U S Silver Trade Dollars

Bust Small Eagle Silver Dollars

90% Silver Washington 25

Flowing Hair Liberty 1/2 Dollar

Draped Bust Liberty Heraldic Eagle 1/4 Dollar

American Buffalo Nickel

1/4 Eagle Liberty Capped Bust

$5 Indian Head 1/2 Eagle

Indian Head Quarter Eagles

90% Silver 1/4 Dollar

90% Silver 50 Franklin 1/2 Dollars

90% Silver Kennedy 1/2 Dollar

Seated Liberty No Motto Silver Dollar

$1 Eisenhower Silver Dollars

$1 Liberty Head Peace Silver Dollar

$1 Liberty Head Morgan Dollars

Pattern American Silver Dollars

Draped Bust Silver Eagle Dollar

 

New Pages

Foreign Gold Coins

Mexican 50 Peso

100 Austrian Corona Hungarian Korona

Austrian 4 Ducats

20 Franc Post 1933 Swiss Helvetia

50 Peso Mexican Coins