The 1974-D Eisenhower Dollar Coin is a remarkable piece in the world of coin collecting. Although the coin had a massive mintage, certain high-graded versions of this coin have become highly sought after by collectors and have reached impressive auction prices. This article explores the story behind the 1974-D Eisenhower Dollar, its design, its mintage, and why high-graded coins are commanding such high values in the market.
A Surprising Value for a Common Mintage
This Article Includes
Despite having a large mintage, the 1974-D Eisenhower Dollar has achieved impressive auction results. The coin was minted in Denver, with a total mintage of 45,517,000 coins. With such a high mintage, it may be surprising to learn that high-graded versions of the coin, especially those graded MS-67+, can command thousands of dollars at auctions.
In fact, a 1974-D Eisenhower Dollar graded by the Professional Coin Grading Service (PCGS) at MS65 fetched an impressive $14,100 at a Heritage Auctions event about ten years ago. While the auction took place a decade ago, its value could be even higher now, taking into account inflation and the general rise in the cost of living.
Specifications of the 1974-D Eisenhower Dollar
To understand why this coin stands out, it’s important to take a look at its specifications and design.
- Minting Location: Denver Mint
- Mintage: 45,517,000
- Weight: 22.70 grams
- Diameter: 38.50 millimeters
- Edge: Reeded (like other dollar coins)
- Composition: 75% Copper, 25% Nickel
The coin was designed by Frank Gasparro, James Cooper, and Michael Collins, and its composition reflects the standard practice for many circulating dollar coins of the time. Despite the large mintage, only a small number of coins have been preserved in excellent condition, making high-graded versions like MS67+ incredibly rare.
The Appeal of High-Grade Coins
One of the key reasons behind the high value of the 1974-D Eisenhower Dollar in top grades is the rarity of coins in such condition. While coins with lower grades like MS-60 to MS-64 might have noticeable marks, bag marks, or other imperfections, coins graded MS-67 or higher are virtually flawless. These coins will have an exceptionally sharp strike, crisp details, and attractive luster, often with original toning that further enhances their visual appeal.
At the highest grade, MS-67, only a small number of 1974-D Eisenhower Dollars have been preserved. According to PCGS, fewer than two dozen coins in this grade exist. Coins graded MS67+ are even rarer, adding to their desirability among collectors.
Auction Results and Market Trends
Auction results have proven that high-grade 1974-D Eisenhower Dollars are in high demand. For instance, a PCGS MS67+ coin was sold for $13,162.50 at GreatCollections, nearly double the value listed in the PCGS price guide at the time. This illustrates the impact of scarcity, quality, and demand in the market for premium coins.
The value of these high-graded coins is driven by several factors, such as the intense competition among registry set collectors. These collectors seek to complete their sets with the highest-grade coins possible, often paying a premium for key dates and rare specimens.
Why MS-67+ Coins Are So Valuable?
So, what makes a coin graded MS-67+ so valuable compared to coins in lower grades? Several factors contribute to the increased worth of these top-tier coins:
- Quality of Strike and Eye Appeal: Coins with an MS-67+ grade have a sharp strike, crisp details, and superior visual appeal. Their attractive luster and original toning make them stand out in any collection.
- Lack of Imperfections: An MS-67+ coin is nearly flawless, with minimal contact marks or blemishes, even under magnification. This lack of imperfections is crucial to achieving such a high grade.
- Rarity: Coins graded MS-67 or higher are extremely rare. For many series, an MS-65 is considered a condition rarity, and MS-67+ coins are even more scarce, driving up their value significantly.
- Demand from Collectors: Advanced collectors often pursue registry sets of coins in the highest grades. The competition to acquire MS-67+ examples of key dates adds significant price pressure to these coins.
Conclusion
The 1974-D Eisenhower Dollar Coin, once considered a common piece, has turned into a valuable treasure for collectors who seek high-graded specimens. Despite its large mintage, the rarity of coins in grades MS-67 and MS-67+ has made them highly prized. As auction results continue to show, a pristine 1974-D Eisenhower Dollar can command impressive sums, making it a worthwhile pursuit for collectors and investors alike.