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The Eisenhower Dollar was issued from 1971 to 1978. The obverse of the coin features Dwight D. Eisenhower and the reverse is based on the Apollo 11 mission insignia. For circulation, the coins were struck in copper-nickel clad composition, although “silver dollars” were also produced and issued for collectors. Despite the short duration of the series, the different compositions, varieties, and conditional rarities provide complexity and challenge for collectors.
The production of dollar coins had entered a lengthy hiatus after the final Peace Dollars were struck in 1935. By this time, the required production under the Pittman Act had been completed and abundant supplies were stockpiled which would last for decades. The denomination almost made a come back in 1964 when Congress authorized the production of new silver dollars, however, the entire quantity produced was recalled and melted before issuance. In the following year, the Coinage Act of 1965 would eliminate the silver content from circulating US coins and forbid the minting of silver dollars for a period of five years.
Following the conclusion of the five year period, the first legislation to create a new dollar coin was introduced in October 1969. The legislation sought to create a circulating dollar coin which would commemorate Dwight D. Eisenhower who had died earlier that year and the Apollo 11 space flight, which marked man’s first steps on the moon. A modified bill was eventually passed on December 31, 1970.
The Chief Engraver for the United States Mint Frank Gasparro designed both the obverse and the reverse of the coin. The obverse bore a profile bust of Eisenhower with inscriptions “Liberty”, “In God We Trust”, and the date. To prepare the design, Gasparro studied 30 pictures of the former President and Five Star General as well as a drawing he had made in 1945 after catching a glimpse of Eisenhower at a parade in 1945.
The reverse of the coin was based on the mission insignia from the Apollo 11 space flight. This was deemed particularly appropriate by Congress since the space program began under Eisenhower’s administration. The reverse design featured a bald eagle landing on the surface of the moon, carrying an olive branch, with the Earth visible in the background from space.
The 1972 Eisenhower Dollar marked the second year of issue for the series. Mintages for circulation strike coins rose from the previous year and would represent the highest levels with the exception of the later Bicentennial issues.
This year the Philadelphia Mint struck the coins with three different hub varieties. These can be identified by the appearance of the earth on the reverse of the coin. Variety 1 is the most common and has low relief dies and displays a flattened Earth. Variety 2 is scarce and has high relief dies, the Earth appears round and has weak islands. Variety 3 has modified high relief dies with a strengthened appearance of Earth. The major coin grading firms will attribute these varieties.
Find images and more information on 1972 Eisenhower Dollar Varieties.
Once again, the San Francisco Mint would strike coins with silver content for collectors, although demand would fall substantially from the prior year. These 40% silver coins bearing the “S” mint mark were sold to collectors in uncirculated or proof versions at premium prices. Sales registered at 2,193,056 uncirculated coins and 1,811,631 proof coins.