The 1978 Eisenhower Dollar is a remarkable coin that stands out both for its historical significance and its value to collectors.
Produced during a time when the U.S. Mint was experimenting with coin sizes and materials, this dollar coin carries an interesting backstory.
In this guide, we’ll delve into the history, design, and value of the Eisenhower Dollar and explore why it remains a prized possession for collectors today.
A Brief History of the Eisenhower Dollar
In the late 1960s, the U.S. Mint recognized that large dollar coins were impractical for everyday transactions.
The Eisenhower Dollar, with its 38.1 mm diameter, resembled older silver dollars in size but wasn’t convenient for general use or vending machines.
Initially struck in silver, the coin’s composition was eventually altered to a copper-nickel blend to make it more cost-effective.
Changes in U.S. Coinage
The Coinage Act of 1965 marked a turning point in U.S. currency by phasing out silver from dimes and quarters.
While a 40% silver half dollar was introduced briefly, by 1970, it was clear that continuing to produce silver half dollars was unsustainable.
As a result, the bill that authorized the Eisenhower Dollar specified that it would be primarily produced in copper-nickel for circulation, with silver versions reserved for collectors.
Transition to Smaller Coins
As the U.S. Mint looked to modernize American coinage in the 1970s, discussions began on the practicality of smaller dollar coins.
The Research Triangle Institute proposed that a smaller, lighter dollar coin would be more user-friendly.
In 1978, Congress initiated plans to produce a new dollar coin featuring Susan B. Anthony, effectively ending the Eisenhower Dollar series.
The Final Production Year: 1978
The last Eisenhower Dollars were minted in 1978, with a total of 25.7 million coins struck that year.
On December 13, 1978, the first Susan B. Anthony dollars were minted, marking the conclusion of the Eisenhower Dollar’s production.
Although it was largely seen as a novelty, the Eisenhower Dollar holds a significant place in the history of U.S. currency.
What Is the Value of the 1978 Eisenhower Dollar?
Even though the Eisenhower Dollar has been out of production for decades, it can still occasionally be found in circulation—though often in worn condition.
Uncirculated examples, particularly those in mint sets sold by the U.S. Mint, are more common and desirable for collectors.
Current Market Values
| Condition | Estimated Value | Notes |
|---|---|---|
| Circulated | Slightly above $1 | Common in circulation but often worn. |
| Uncirculated | $5 – $7 | Typically found in Mint sets, more preserved than circulated ones. |
| Mint State 65 | $18 | Higher quality, but fairly common among collectors. |
| Mint State 66 | $80 | Better quality and rarer than MS65 examples. |
| Mint State 67 | $1,500 – $6,000 | Very rare, commanding high prices in the market. |
| MS67+ Example | Over $10,000 | Exceptional quality; record-breaking sales have occurred. |
Rare and Valuable Finds
Coins in higher grades, such as Mint State 67 and above, are incredibly rare and thus fetch higher prices.
For example, an MS67+ Eisenhower Dollar once sold for over $10,000. Coins in the MS67 grade often sell between $1,500 to $6,000, depending on the grading and demand.
Design Features of the 1978 Eisenhower Dollar
The Eisenhower Dollar stands out for its iconic design, which was created by Frank Gasparro and holds historical significance.
Obverse Design
The obverse side of the coin features a portrait of President Dwight D. Eisenhower, with the phrase “IN GOD WE TRUST” above his head. The word “LIBERTY” and the minting year encircle the rim.
Reverse Design
The reverse side of the coin, also designed by Gasparro and inspired by the Apollo 11 mission patch, shows a bald eagle descending with an olive branch in its talons.
Surrounding the design are the words “UNITED STATES OF AMERICA” and “ONE DOLLAR,” along with thirteen stars representing the original colonies.
Coin Specifications
| Specification | Details |
|---|---|
| Country | United States |
| Year of Issue | 1978 |
| Denomination | One Dollar (USD) |
| Mintmark | None (Philadelphia Mint) |
| Mintage | 25,702,000 |
| Alloy | Copper-Nickel |
| Weight | 22.68 g |
| Diameter | 38.10 mm |
| Edge | Reeded |
| Designers | Frank Gasparro, Michael Collins |
Conclusion: The Legacy of the 1978 Eisenhower Dollar
The 1978 Eisenhower Dollar is a fascinating piece of American coinage that symbolizes a time of transition within the U.S. Mint.
Its large size and distinctive design offer a glimpse into the past, where the nation was moving away from silver and embracing modern coinage.
For collectors, the Eisenhower Dollar is more than just a novelty—it’s a valuable and historical artifact.
Whether you find one in circulation or come across a high-grade example, the Eisenhower Dollar tells a unique story about American currency.
FAQs
What materials were used to make the 1978 Eisenhower Dollar?
The 1978 Eisenhower Dollar was made from a copper-nickel alloy. Specifically, it consists of 75% copper and 25% nickel. This change in composition was part of a broader shift away from using silver in U.S. coins.
How many 1978 Eisenhower Dollars were produced?
A total of 25,702,000 Eisenhower Dollars were minted in 1978 at the Philadelphia Mint. While no mintmark appears on these coins, they remain an iconic part of U.S. coin history.
What is the value of a circulated 1978 Eisenhower Dollar?
A circulated 1978 Eisenhower Dollar typically holds a value slightly above its face value of $1. However, depending on the coin’s condition and demand among collectors, the value can vary.
Why did the U.S. Mint stop producing Eisenhower Dollars?
By the mid-1970s, there was growing demand for smaller, more convenient dollar coins. In response, the U.S. Mint introduced the Susan B. Anthony dollar in 1979, which ultimately replaced the Eisenhower Dollar.
How do I identify a high-value Eisenhower Dollar?
The value of an Eisenhower Dollar largely depends on its condition. Uncirculated and high-grade coins, especially those graded Mint State 66 or higher, can be worth thousands. Look for well-preserved coins with minimal wear and clear details.
Whether you’re a seasoned collector or just intrigued by American coins, the Eisenhower Dollar offers an exciting opportunity to own a piece of history. Keep an eye out—you might have a valuable one in your collection!
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