Following Dwight D. Eisenhower’s death in 1969, legislation to strike a new dollar coin honoring the former president and general was signed by President Richard Nixon in 1970. This would be the first official dollar coin struck by the United States Mint since the end of the Peace dollar series in 1935, and would also be the first U.S. dollar coin series to feature a copper-nickel clad metallic base. Show
While Eisenhower dollars (made from 1971 through 1978) would be struck in copper-nickel clad for circulation, the United States Mint in San Francisco also offered the coin in 40 percent silver for collectors. These 40 percent silver dollars are available in two varieties – the 1971-S uncirculated and 1971-S proof varieties (also referred to as “blue pack” and “brown pack,” respectively, to identify the color and type of mint packaging they originally came in). 6,868,530 uncirculated 1971-S Eisenhower dollars were struck while 4,265,234 proof specimens were made. The values of these coins are somewhat dependent on prevailing silver values. Though, with silver at around $20 per ounce, expect to pay about $9 for the uncirculated variety and around $11 for the proof version. High-grade Eisenhower dollars are extraordinarily difficult to find, and if you can locate any, expect to pay heavy premiums, as most of these large coins unfortunately have contact marks and other imperfections. If you have stumbled across a silver dollar from 1971, you should keep hold of it until you have it valued. 1971 silver dollars are not only a rare coin and highly desirable for collectors, but they could also be worth a small fortune. The silver dollar itself has intrinsic value because of the silver it is made from. Aside from this core value, the rarity of the 1971 silver dollar makes it a collectable coin for enthusiasts all over the world. There are several things that can impact the value of your silver dollar, from the type of auction you sell the coin, to the grading and condition of the coin itself. This guide breaks down everything you need to know about the dollar and gives you price indications of how much a 1971 silver dollar value is today. Quick Summary: How Much Is A 1971 Silver Dollar Worth Today?The 1971 silver dollar, which refers to the Eisenhower dollar, is worth $26 in uncirculated excellent condition (MS65). To get the full $26, it needs to be verified as the Eisenhower dollar – the best way to do this is by weighing it. Learn how to do this below. It also needs to be assessed and graded at MS65. If your 1971 silver dollar is not in MS65 condition but is close, you can expect around $15. This goes for proof coins too. Read our full guide below to find out why the coin is worth this much and how to grade/value your treasure! An Introduction to Silver Dollars
The US treasury has minted dollar coins in precious metals since their introduction in 1794. That means you can find dollar coins made of gold and silver among the other types of base metals used to construct dollar coins. Gold dollars haven’t been minted for a long time, and as a result can be incredibly difficult to find, even in specialist auctions or collectors’ markets. Dollar coins themselves have never really been adopted by the American public when compared to the dollar bill (printed money). As a result, dollar coins are no longer minted and since 2011, the US treasury has focused on printing dollar bills exclusively. Dollar coins can range in value for collectors depending on several factors. The factors that typically affect whether a dollar coin is valuable or not are:
When all these factors are considered, you get an idea of how much your 1971 silver dollar is worth. The 1971 Silver Dollar: History And Rarity
Now we have looked at dollar coins as a whole, let’s look at the 1971 silver dollar coin specifically. Specifications for the 1971 Silver DollarOther NamesEisenhower Dollar (S Eisenhower Silver Dollar)Year Minted1971Metal CompositionCopper 60% / Silver 40%Silver Weight0.3161 ozTotal Weight24.59 gramsFace ValueOne US dollarCurrent Silver Bullion Value (at time of writing)$6.40 The 1971 Eisenhower Dollar Coin MintIn 1971, the US treasury minted a three types of dollar coin. The coin this article is concerned with, the Eisenhower 1971 silver dollar coin, was minted as an uncirculated coin or as a proof coin. The mint mark itself can be found above the date on the coin. The other two variants of the 1971 dollar were circulated and are much less valuable as a result. The first of these was a copper-nickel clad coin and it has no mint mark. The second does have a mint mark and is known as the 1971 D Eisenhower and is also copper nickel clad. How Do I Differentiate Between the 1971 Dollar Coins?There are three ways to distinguish between the 1971 dollar coins.
Rarity of the 1971 Silver DollarThe proof 1971 silver dollar was heavily minted for what’s considered a rare coin. In total, the US mint turned out 4,265,234 proof coins. The uncirculated version is slightly more valuable because it wasn’t as heavily minted as the proof version. The 1971 Silver Dollar Value Today
As discussed, there are several considerations that need to be made when evaluating the value of a 1971 silver dollar. But to give you a quick answer:
If the condition is any less than excellent, it may be better to sell it as silver. The 1971 silver dollar is just over 0.3161 oz of silver, meaning the material itself is worth around $6.40 today. What Makes a 1971 Silver Dollar Rare?Because the 1971 silver dollar was uncirculated or used as a proof coin, you will ideally be looking at a high condition coin that has no wear or tear and hasn’t been cleaned. Why Does Cleaning a Coin Devalue it?Cleaning coins can have a marked difference on the price. It is estimated that cleaning a coin will devalue it by as much as 70%. The 1971 silver dollar has two advantages that make it less likely to be dirty, the first is they weren’t circulated or used as proof coins (so they shouldn’t have accumulated dirt from usage). The second is the year 1971 is too recent to have built up too much dirt if they were left sitting around and collecting dust. Cleaning a coin impacts the coin for two reasons:
Grading a 1971 Silver Dollar
Grading is how coins are evaluated for condition. With the 1971 silver dollar there are two benchmark grades that generate the highest value for your coin. 1971 Eisenhower Uncirculated Silver Dollar ValueUncirculated coins will typically be graded as MS63 choice uncirculated condition. This is the benchmark for the uncirculated variant and coins below this will see their value drop considerably. A coin in this condition will be valued at around $15 on the current market. A MS63 choice uncirculated coin will likely have lost some of its luster and could have minor blemishes or contact marks. There is a premium grade for the uncirculated coin, if you get it graded at MS65 gem uncirculated condition the value jumps to $26 on the current market. An MS65 gem uncirculated coin will have no blemishes or contact marks and will have retained its shine. How Much is a 1971 Silver Dollar Worth?Proof coins graded at PR65 (the expected collector grade for this coin) are valued at $15 on the current market. Once graded you should keep your coin in the graded case to protect it and keep it at the grade it has been given. The case will also display the grade and any grading information for potential buyers. It is worth noting that the coin marketplace changes over time and coins fetch different prices according to the wider economic market. For example, a coin sold in an economic recession will likely attract fewer interested parties and sell for less compared to a coin sold in an economic boom. With the 1971 silver dollar, the value of the coin should also increase over time, and a coin that is valued at $26 today could be worth thousands of dollars in a hundred years’ time. Marks, Reliefs and Errors
Other than the condition, there are a few factors that can alter a coin’s value. Marks on a 1971 Silver DollarThe marks you want to look for on a 1971 dollar are the mint marks discussed above. A mint mark can be found above the date on a 1971 dollar. Reliefs on a 1971 Silver DollarThe 1971 silver dollar was minted with one relief (image) and there are no relief differences between the variants. With that said, a clear relief where the coin was part of the early mint will be fractionally more valuable than a late minted coin. This is because a fresh press gets a better mint than a press nearing the end of its lifetime. Errors on the 1971 Silver DollarThere are no known errors on the minting of the 1971 silver dollar although that doesn’t mean errors don’t exist. For example, a press at the end of its lifetime might break and create an error when the coin is pressed. Error coins when they have been identified and verified can be worth more than the standard coins. 1971 Silver Dollar FAQs
What are silver dollars?The US treasury minted dollar coins in various metals. Typically, the most sought after are the gold dollars, however there are some silver dollars that are worth considerably more than their gold counterparts. After the Gold Confiscation Act, the mint preferred silver mints for their select or proof coins, which means that some years only have silver versions as the pinnacle of that years’ mint. How much is a silver dollar worth?Silver dollars range in value. The biggest factor affecting the value of a silver dollar is the year it was minted. Earlier variants of the silver dollar are typically more valuable than more recent variants. Because silver dollars are no longer minted, the value of all silver dollar coins is expected to increase over the next few decades. Error coins such as the 1888 Scarface Morgan Dollar are typically more valuable than non-error versions. Are there different types of silver dollar?Yes, there are several different types of silver dollar. The US treasury mints coins in different locations across the US and some variants of silver dollars have different mint marks according to where they were struck or minted. The main differentiating factor for silver dollars is the relief. There have been several sought-after reliefs minted since the US government authorized the minting of silver dollars under the Coinage Act of 1792. Desirable variants are:
Are silver dollars still minted?Yes, although the US Treasury has moved away from minting dollar coins due to cost and adoption, there are special coins still minted to commemorate events or presidential coins. What are the mint marks on a silver dollar?A mint mark tells you where a specific coin was minted. The mint marks for the mints are given in with a letter or letters and are normally displayed above the date on the coin. What makes a 1971 silver dollar rare?The rare variety of the San Francisco minted 1971 Proof Eisenhower one-dollar coin does not have the serifs at the bottom of the vertical leg on the "R" in LIBERTY. Some researchers believe that this variety was caused by over-polishing the Proof dies (a.k.a. die abrasion).
Is a 1971 silver dollar real silver?In 1971, the U.S. Treasury made available Unciruclated and Proof verisons of the Eisenhower Dollar in 40% silver. These were the first "silver" Dollars since 1935 (or 1964, if one counts the unissued 1964-D Peace Dollar).
Where is the mint mark on a 1971 silver dollar?Eisenhower dollar. |
The value of a 1971 silver dollar
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