The following Q&A is excerpted from Clifford Mishler’s Coins: Questions & Answers, 5th edition:
Q: I often hear people refer to the Eisenhower dollar as a silver dollar, but am wondering if that is correct terminology, as any circulated examples of this coin that I have encountered appear to be made of a similar metallic composition to that used for dimes, quarters, and halves?
A: Actually, that terminology could be considered technically correct, as the enabling legislation passed in 1970 stipulated the coin be minted of both silver and cupro-nickel clad copper, but with only the latter intended for circulation.
While Eisenhower dollars have the same physical diameter (38.1mm) as traditional silver dollars, they are somewhat lighter in both versions. The traditional silver dollars, minted from 1840 through 1935, were struck of .900 fine silver with a total weight of 26.73 grams, the pure silver weight of each being 0.77344 ounce. From 1971 through the 1975–1976 issue, the Eisenhower silver dollars were struck of a clad silver composite with a .400 fine silver content, the pure silver weight of each being 0.3161 ounce. The cupro-nickel clad Eisenhower dollars were minted from 1971 through 1978, the weight of these pieces being just 22.68 grams.
Silver versions of the Eisenhower dollar were struck and sold to collectors in both Uncirculated and Proof qualities. The silver Eisenhower dollar issues through 1975–1976 (Bicentennial) stand as the last hurrah of the Western Silver Lobby, their champion being Senator James McClure of Idaho.
Share:
The Eisenhower 40% silver clad dollars consisted of an outer layer of 80% silver sandwich bonded over a middle core of 20.9% silver.
I’ve always loved IKE’S ever since I was 12 when they were first minted.
I read, somewhere, the treasury has a warehouse full of IKE’s no one wanted.
1. Why don’t they have a GSA like sale similar to the Carson City Dollar hoard in the ’70’s.
2. I’m sure people would scoop them up, I don’t see the thought process for keeping them locked up.
….If indeed that is true.
According to http://www.pcgs.com/books/silver-dollars/Chapter20Listings-001.aspx, on January 7, 1993 Joseph Robert Coyne, Public Affairs Officer of the Federal Reserve Board stated to numismatist Frank Van Valen that the Federal Reserve has no stockpiles of Eisenhower dollars at any of the 12 Federal Reserve Banks. All Eisenhower dollars had been dispersed to smaller banks throughout the Federal Reserve System.