The 1978 Ike dollar coin is a highly collectible and valuable piece. It's a great time to learn about its value and how to spot the most valuable ones.
The 1978 Ike dollar coin was minted in Philadelphia, Denver, and San Francisco. This means you can find coins from each of these mints.
The value of the 1978 Ike dollar coin can range from a few dollars to over $100, depending on its condition and rarity. A coin in good condition can sell for around $5-$10.
Some of the most valuable 1978 Ike dollar coins are those with errors or variations. For example, coins with a doubled die error can sell for much higher prices than regular coins.
Value and Rarity
The value and rarity of a 1978 Ike dollar can vary greatly depending on its condition and quality.
Coins in mint state graded 66 are relatively rare, with only around 500 coins minted in Philadelphia and Denver. In contrast, coins in mint state graded 67 are extremely rare, with only 7 coins from Philadelphia and 4 from Denver known to exist.
A coin's value increases significantly with its grade, with an MS66 coin from Philadelphia fetching about $110 and an MS67 coin from Philadelphia selling for a whopping $6,000.
Here's a rough idea of the price difference between MS66 and MS67 coins:
Error coins can also be highly valuable, with some errors creating truly one-of-a-kind coins.
Circulated Grades Value
If you're looking for a circulated Eisenhower dollar, you're in luck - they're not hard to find. The Philadelphia mint struck nearly 26 million coins for circulation in 1978.
In fact, circulated examples from the Denver mint are even more abundant, with over 33 million coins minted. This abundance means that circulated grades of these coins aren't rare and generally aren't valuable.
A 1978 silver dollar can be picked up for anything from its face value to $2, depending on its condition.
Uncirculated Value
The value of uncirculated coins can vary greatly depending on their quality.
The Eisenhower dollars from 1971 and 1972 are particularly challenging to find in excellent condition due to poor strikes and limited mint sets.
Coins graded MS66 have a significant price difference from those graded MS67.
An MS66 coin minted in Philadelphia will fetch around $110, while one from Denver will cost about $175.
The numbers of coins graded MS67 are extremely low, with only seven from Philadelphia and four from Denver known to exist.
At MS67, the prices skyrocket to $6,000 for Philadelphia and $9,250 for Denver.
Proof Value
Proof coins are often considered the most valuable coins, but that's not always the case. The 1978 Eisenhower dollar proofs were minted in large numbers, with over 3 million produced in San Francisco alone.
These coins were sold to collectors, who stored them carefully and kept them in great condition. As a result, proof coins like the 1978 silver dollar can be found at a relatively affordable price.
A proof graded 69 out of 70 with a "deep cameo" designation can be picked up for around $30.
What Makes Rare?
Producing coins in large numbers can actually make them less rare. The 1978 silver dollar, for example, was made in large quantities at all three US mint facilities.
Finding a circulated coin is easy, and you won't have to pay much more than its face value. This is because the 1978 silver dollar was produced in large numbers.
Even proof coins of the highest quality are surprisingly common. They were produced in large numbers for collectors and stored away carefully.
The rarity of a coin can increase with its condition. Among the rarest coins are those in mint state at the highest grades.
The 1978 silver dollar coins in mint state at the highest grades, like MS67, are extremely rare, with numbers in single figures.
What's Valuable?
Most 1978 silver dollars aren't rare or valuable, but there are some exceptions. A circulated 1978 silver dollar can be picked up for its face value to $2, depending on its condition.
Error coins can be valuable, with prices depending on the rarity and appearance of the error. Sometimes an error coin is also highly graded, like a 1978 silver dollar graded MS67 with a 10% off-center strike that sold for just under $2,000.
Mint state coins can be worth more, with a 1978 Eisenhower dollar graded MS fetching up to $7,500. The Denver minted coins, like the 1978-D Eisenhower Dollar, can be worth even more, up to $8,750.
If you're looking for a fine quality specimen without breaking the bank, proof coins are a good option. A proof graded 69 out of 70 with a "deep cameo" designation can be picked up for around $30.
Here's a rough guide to the value of 1978 Eisenhower dollars:
Brockage
Brockage is a type of error that occurs when a coin sticks to the die and strikes the next blank, producing a mirror image of the design. This can result in a coin with one normal side and a mirror image of the same design on the other.
A 1978 silver dollar with brockage was presented at auction in 2009 and sold for $750. It was graded MS64 and had an estimated 10 per cent brockage.
The brockage can be on only part of the coin, and it's a rare error that can make a 1978 Ike dollar more valuable.
Identification and Features
The 1978 Ike dollar is a unique coin that can be identified by its distinctive features.
The coin features a portrait of Dwight D. Eisenhower, the 34th President of the United States, on the obverse side.
This coin was minted in Philadelphia, Denver, and San Francisco, with the 'P' mint mark, 'D' mint mark, and 'S' mint mark, respectively.
The 1978 Ike dollar is composed of 22-karat gold and weighs 13.5 grams.
Strike
A coin's strike can be a fascinating aspect of its identity. An indented strike happens when a blank planchet bounces so that it's struck on the edge, resulting in an indent on the coin.
Indentations can vary in size, and a 1978 dollar with a 10 percent indent on the obverse is a notable example. It was graded MS62 by the PCGS and sold for just under $180.
Indent strikes can also cause coins to be bent or folded.
How to Identify?
To identify, look for the distinctive shape of the object, which is typically symmetrical and has a smooth, rounded edge. This is a key characteristic that sets it apart from other similar objects.
The object's material is also a good indicator of its identity. As mentioned earlier, it is often made of a lightweight, yet durable material that is resistant to scratches and corrosion.
A closer examination of the object's surface may reveal a series of small, raised patterns or textures. These patterns are unique to this object and can be used to confirm its identity.
The object's size and weight can also provide clues about its identity. It is typically small enough to be held in one hand and has a moderate weight that makes it feel substantial.
Pay attention to the object's color and finish, as these can also be indicative of its identity. The object's color is often a deep, rich tone that is resistant to fading or discoloration.
The Obverse
The obverse of the Eisenhower dollar is a striking design that's full of meaning. It features a portrait of Dwight D. Eisenhower, based on a sketch done by the Mint's chief engraver, Frank Gasparro, over 20 years before the coin was minted.
The portrait was actually inspired by a moment in 1945 when Gasparro saw Eisenhower at a rally celebrating the Allied troops' victory in World War II. He was so moved by the moment that he sketched a portrait on the spot.
The obverse also includes the motto "In God We Trust", which appears just below Eisenhower's chin to the left of his portrait. This is a significant feature of the coin.
The word "Liberty" wraps around the top edge of the coin, adding to its symbolic value.
Other Features
The 1978 Silver Dollar has a distinctive edge finish, featuring a series of parallel grooves that run perpendicular to the surfaces.
One of the most notable features of the Eisenhower dollar is its composition, made from copper and nickel, a combination that's unique among dollar coins.
The 1978 Silver Dollar is the last dollar coin to be minted in the original, larger size, making it a rare and special find.
Its large format is a distinguishing characteristic, setting it apart from other dollar coins that have been minted in smaller sizes.
History and Mint Marks
The Eisenhower Dollar was minted from 1971 through 1978. The coin was designed by Frank Gasparro to honor President Dwight D. Eisenhower and man's first moon landing in 1969.
The United States Mint produced Eisenhower Dollars at three different mints: Philadelphia (no mint mark), Denver (D), and San Francisco (S). The mint mark is located on the obverse of the coin, just below the truncation of President Eisenhower's portrait and just above the date.
The introduction of the Eisenhower Dollar in 1971 was a response to the rising price of silver, which led to a shortage of silver dollars in the Western states.
Mint Marks
The mint mark on a coin can be a great clue to its origin and history. The United States Mint produced coins with mint marks at three different mints: Philadelphia, Denver, and San Francisco.
The mint mark is located on the obverse of the coin, which is the front side. Just below the truncation of President Eisenhower's portrait and just above the date is where you'll find the mint mark on Ike Dollars.
The mint mark on 1978 silver dollars is a bit tricky to spot because it was applied by hand using a punch and a mallet. This means that the mint mark appears in slightly different places in different coins.
If you're looking for the mint mark on a 1978 silver dollar, try checking just above the third or fourth digits of the date, at the bottom of the obverse.
Eisenhower History
The Eisenhower Dollar coin was minted from 1971 through 1978. It was designed by Frank Gasparro to honor President Dwight D. Eisenhower and the first moon landing in 1969.
The coin's obverse features a portrait bust of President Eisenhower facing right. The reverse is an adaptation of the official Apollo 11 mission insignia.
The United States Mint introduced the Eisenhower Dollars in 1971, after over thirty years of not minting any coins of that denomination. This was due to a shortage in dollar coins in the Western states, where they circulated the most.
Congress saw the opportunity to honor President Eisenhower and the Apollo 11 mission in the coin's design. The passing of President Eisenhower and the moon landing took place around the same time as the discussions in Congress about the new coin.
The first Eisenhower Dollars struck had a copper-nickel clad composition, which was a new alloy for the denomination. This was due to the rise in silver prices, which made it more expensive to produce coins with silver content.
The San Francisco Mint produced 90% silver varieties of the clad dollars in both uncirculated and proof finishes for coin collectors in 1971. These coins with more silver content sold well, but the overall opinion on the Eisenhower dollars was unpopular.
Year
The year a coin was minted can be a crucial piece of information for collectors and historians alike. It's often marked on the coin itself, but sometimes it's not that obvious.
In the early 20th century, the United States Mint began using a system of mint marks to indicate which mint a coin was produced at, starting in 1908.
The year of a coin's production is usually marked with a four-digit number, such as 1923 or 1955.
Frequently Asked Questions
How do I know if my Eisenhower Dollar is worth money?
To determine the value of your Eisenhower Dollar, consider its year, mint mark, rarity, errors, and condition. Evaluating these factors will give you a clear idea of your coin's worth.
Sources
- https://www.coinvaluelookup.com/1978-silver-dollar-value-lookup/
- https://www.thesprucecrafts.com/eisenhower-dollar-values-3892619
- https://www.greysheet.com/prices/sp/eisenhower-dollars-united-states-coinage/8974
- https://sdbullion.com/blog/eisenhower-dollar-value
- https://www.boldpreciousmetals.com/blogs/eisenhower-dollar-value
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