What Makes the 1971 Eisenhower Dollar Valuable?
The dollar coin witnessed almost no demand from the public in the beginning of 1970. However, it soon took not much time for the gaming industry to realize that it should find a substitute for silver dollars it used in thousands of slot machines.
This “need” and the recent death of a famous war hero and President Dwight D. Eisenhower gave Congress an opportunity to meet the sector’s needs.
Mary Brooks and the Silver of the Eisenhower Dollar
United States Mint Director Mary Brooks proposed that the coin be struck in silver, but Congress agreed to settle for the same copper-nickel (Cu-Ni) alloy that the dime and quarter dollar was being struck with.
A compromise allowed for silver-plated reproductions to be issued and sold for collectors; this article focuses on that version of the coin.
The collector issue, or silver-plated version, of the Eisenhower dollar proved controversial; as Population Law 93-441 required a portion of the collector issue sales for Eisenhower College, located in Seneca Falls, New York to help fund it.
The college anticipated it would receive one-fourth of all monies taken in from the sale of $1 [Eisenhower] Proof coins, with 10% of the total monies coming into the college being sent to CAM. In 1975 Congress increased this amount by approving another $1 million in funding (Population Act 94-41).
Design details of the Eisenhower dollar:
Frank Gasparro portrays Dwight D. Eisenhower-to the left-as president. His raised “FG” initials appear in the cutaway of the bust. “IN GOD WE TRUST” is written behind Eisenhower’s chin, facing left.
The word “LIBERTY” runs around the top edge of the coin above Eisenhower’s head. The date wraps around the bottom edge of the design, below the cut-away of Eisenhower’s bust on the coin.
Mintmark and reverse design on the Eisenhower dollar
In addition, mintmarks are found in small cases on the coins of Denver and San Francisco. They appear to be between the last two digits of the date. Mintmarks are found on no Philadelphia issues. The position and direction of the hand-cast mintmark on the Eisenhower dollar will vary.
The reverse was designed by using the patch from the Apollo 11 mission. It is a work of astronaut Michael Collins. In the center, a bald eagle named Bootie is descending. Holding an olive branch in its claws, it has a raised left wing. Down at the bottom is the surface of the moon, and over its head is the representation of Earth. North America clearly shows.
Eisenhower Dollar Design and Historical Significance of 1971
Running along the upper border of the coin is the motto “UNITED STATES OF AMERICA.” Thirteen small five-pointed stars are placed around the eagle in a circle.
Above the eagle, but below the circumference of the stars is the motto “E PLURIBUS UNUM.” Below the image of the eagle and around the rim of the coin, the words “ONE DOLLAR.”
The 1971 Eisenhower dollar, from San Francisco, bears a reeded (roughened) edge.
The New York Times Pentagon Papers were published over several months in 1971. The minimum voting age in the United States was extended to 18 with ratification of the 26th Amendment. The Walt Disney World theme park opened in Florida. Decimal currencies were introduced in the UK and Ireland-the consequence of decimalization.
How much silver is in a 1971 Eisenhower dollar?
In 1971, the U.S. Treasury issued the Eisenhower dollar in an uncirculated version and proof versions with 40% silver content. These were the first “silver” dollars since 1935 (or 1964, if considering the 1964-D Peace dollar, which was not issued).
Are all 1971 Eisenhower dollars silver?
All three of the U.S. Mints minted Eisenhower silver dollars in the years spanning from 1971 to 1978. However, two mints produced them for circulation.
Common Uses of Eisenhower Silver Dollars
Eisenhower silver dollars were minted at the Philadelphia and Denver Mints. These coins are clad-a mixture of nickel and copper-and hence worth only their face value. However, between 1971 and 1976, the San Francisco Mint produced 40% silver Eisenhower dollars-only for collectors. Therefore, if the 1971 coins carry an ‘S’ mint mark, you can be certain that they contain silver.
How to Identify a Silver Coin?
Collectors can look for a strip of copper on the edge of the coin as well as an “S” mint mark on the front or undecorated side of the coin. Although when there’s a visible strip of copper, it may be a clad Eisenhower silver dollar, but a solid silver strip typically denotes a 40% silver coin.
Conclusion:
The 1971 Eisenhower silver dollar is an historic coin and one of value for collectors. Most Eisenhowers are only collectible to face value, but 40% silver content coins and special edition coins have other unique values.
The collector may be able to identify the mint mark and the silver or copper stripe on the edge of these coins. If you get lucky enough to find one of these coins, it may turn out to be treasure of value for you. The next time you take a glance at coins, you will not miss identifying their potential worth as the money inside may be in your pocket.