The 1978 Eisenhower Dollar is a unique piece of American coinage that holds both historical and collector value. Produced during a time when the U.S. Mint was experimenting with coin sizes and materials, this dollar coin has an interesting backstory. In this guide, we’ll explore the history of the Eisenhower Dollar, its design, value in the market, and why it remains significant for collectors today.
Background of the Eisenhower Dollar
In the late 1960s, the U.S. Mint recognized that large dollar coins were not practical for everyday use. The Eisenhower Dollar, which measures 38.1 mm in diameter, was similar in size to older silver dollars but not very convenient for people or vending machines. Initially, these coins were made of silver but switched to a more cost-effective copper-nickel blend.
Changes in Coinage
The Coinage Act of 1965 marked a shift away from silver coins, including dimes and quarters. This law introduced a 40% silver half dollar, but by 1970, the Mint realized that producing silver half dollars was not a good idea. As a result, the bill that allowed the production of the Eisenhower Dollar stated that the coin would be made for circulation in copper-nickel but would also have silver versions created for collectors.
The Transition to Smaller Coins
By the mid-1970s, discussions were ongoing about how to modernize American coins. The Research Triangle Institute suggested that a smaller dollar coin would be more convenient. In 1978, Congress began looking into producing a smaller dollar coin featuring the likeness of Susan B. Anthony. This shift was part of a broader review of American coinage, leading to the end of the Eisenhower Dollar production.
The Final Strikes of 1978
The last Eisenhower Dollars were struck in 1978, totaling 25.7 million coins. On December 13, 1978, the U.S. Mint produced the first Susan B. Anthony dollar, marking the end of the Eisenhower series. While the Eisenhower Dollar was seen as a novelty by many, it held a significant place in American coin history.
How Much Is the 1978 Eisenhower Dollar Worth?
Even though it has been many years since the last Eisenhower Dollars were made, you can still find them in circulation. However, these coins are often worn out. You might come across uncirculated examples more often, especially through sets sold by the Mint.
Current Market Values
| Condition | Estimated Value | Notes |
|---|---|---|
| Circulated | Slightly above $1 | Typically worn; can still be found in circulation. |
| Uncirculated | $5 – $7 | Found in Mint sets; more available than circulated. |
| Mint State 65 | $18 | Represents good quality, but common among collectors. |
| Mint State 66 | $80 | Higher quality; rarer than MS65. |
| Mint State 67 | $1,500 – $6,000 | Extremely rare; only a few exist in this grade. |
| MS67+ Example | Over $10,000 | Record-breaking sales for exceptional quality. |
Rare Finds
Coins in better condition are rarer and thus more valuable. One MS67+ coin sold for over $10,000, while MS67 coins generally fetch between $1,500 to $6,000 depending on the grading service.
Design Features of the 1978 Eisenhower Dollar
Obverse Design
The front of the coin features a portrait of President Dwight D. Eisenhower, designed by Frank Gasparro. The motto “IN GOD WE TRUST” appears above his head, while “LIBERTY” and the date are found around the rim.
Reverse Design
The back of the coin, also designed by Gasparro and inspired by Michael Collins’ Apollo 11 mission patch, shows a bald eagle descending with an olive branch in its talons. The design includes the words “UNITED STATES OF AMERICA” and “ONE DOLLAR” along with thirteen stars, symbolizing the original states.
Coin Specifications
| Specification | Details |
|---|---|
| Country | United States |
| Year of Issue | 1978 |
| Denomination | One Dollar (USD) |
| Mintmark | None (Philadelphia) |
| 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 represents a fascinating chapter in U.S. coinage history. Its large size and unique design reflect a time of transition within the Mint, moving away from traditional silver coins towards more modern alternatives. Collectors value these coins for their rarity, especially in uncirculated and graded conditions. Whether you’re an avid collector or just interested in American history, the Eisenhower Dollar offers a glimpse into the evolving world of currency in the United States. If you come across one, consider its significance and the story it carries with it.
Frequently Asked Questions (FAQs)
1. What is the 1978 Eisenhower Dollar made of?
The 1978 Eisenhower Dollar is made of a copper-nickel alloy, specifically a mix of 75% copper and 25% nickel. This composition was adopted to reduce costs after the removal of silver from circulating coins.
2. How many 1978 Eisenhower Dollars were minted?
A total of 25,702,000 Eisenhower Dollars were minted in 1978. This includes coins struck at the Philadelphia Mint without a mintmark.
3. What is the value of a circulated 1978 Eisenhower Dollar?
A circulated 1978 Eisenhower Dollar typically has a value slightly above its face value of $1. However, the exact value can vary based on condition and demand.
