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This elusive and desirable coin demonstrates that testing and experimentation were components of the Mint’s process to meet the demands of modern coinage production. Little more than a hundred years before this coin was struck, dies were individually handcrafted. The need for greater output and a focus on consistency and uniformity meant that the die-creation process also became mechanized. Errors that occurred during the mechanized process, such as doubled-dies, account for some of the most compelling entries among this top-100 list. But there are also instances where die-creation process also became mechanized. Errors that occurred during the mechanized process, such as doubled-dies, account for some of the most compelling entries among this top-100 list. But there are also instances where the involvement of artists and craftsmen contributed to make an important modern coin. The 1972 Type 2 Eisenhower dollar is the best example of this. When the Mint was testing Eisenhower dollar dies, it was clear that the design as proposed was too high in relief to meet the challenges of production. To enable the large-scale minting of a dollarsized copper-nickel coin, the U.S. Mint re-rendered the design in low relief. The higher-relief design was retained for production of Proof coinage, and a lower-relief version was used for circulating coins. This change allowed the Philadelphia and Denver Mints to strike more than 115 million circulation Eisenhower dollars in 1971, but the compromise was evident. The coins were very flat and otherwise poorly detailed. The Proof coins, by contrast, were struck with the original, higher-relief design, and its effect and appearance were far superior. Herein lay the problem, however: a Proof die was used for only 4,000 strikes (or for making 2,000 coins, each of which got two blows from a die), while a circulation die struck 100,000 to 200,000 coins. How could the design be improved while still meeting enormous production demands? In 1972, at the Denver Mint, the original, low-relief dies were used to strike all 92 million coins made there that year.
At Philadelphia, however, the tinkering began. Of the 75 million coins produced there that year, an estimated 50 million are of the original, low-relief design, called Type 1. Enthusiasts speculate that a single die-pair of the high-relief design normally used to make Proofs was prepared to make business strikes, testing the design and performance. This is the so-called Type 2 variety. Based on die life, some 100,000 to 200,000 coins were presumably struck in this variety. Later in the year, a modified design was introduced, called Type 3, which was used for all Proofs and business strikes of this design at all Mints in subsequent years. According to estimates, 25 million or so of the Type 3 variety were struck. The best way to tell the three varieties apart is to look at the earth as depicted on the reverse of the coin. On Type 1 coins, the earth shown on the reverse of the coin is not round, but rather is flattened in its upper-left from 9:00 to 11:00. Additionally, the islands beneath Florida are all directly underneath it or to the right. None are to the left of it. On the Type 2 examples, the earth is round and there are no islands beneath Florida. Instead, delicate inset lines strengthen the outlines of the continents. On the Type 3 coins, the earth is again round, but three islands are visible beneath Florida and extend well to the west of the state into the Gulf of Mexico. In the realm of modern coinage, these details distinguishing the various types constitute dramatic and deliberate design changes. The Type 2 Eisenhower dollar is legitimately scarce, and adding to its allure is its absolute rarity in high grade—it is so elusive that gem examples trade for thousands of dollars when they can be found.
Garrett, Jeff; Schechter, Scott. 100 Greatest US Modern Coins (Kindle Locations 1349-1353). Ingram Distribution. Kindle Edition.