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Article by:

Mike Byers
Publisher & Editor
of Mint Error News

and

David Frohman
Numismatist


Features

The Rarest Eisenhower Dollars Known

A small group of Eisenhower dollars are in an elite class of their own. And they are among the rarest silver dollars ever struck by the United States since 1794, when the U.S. Mint issued its first silver dollar. This elite group consists of the following coins:

The Unique 1976 "No S" Bicentennial Proof Dollar

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The PCGS CoinFacts Price Guide valued this
unique Eisenhower Dollar long ago at $850,000.
Today, Mike Byers estimates the value well into seven figures.

Photos courtesy of Andy Lustig

The 1976 Type 2 "No S" Silver Proof Eisenhower Dollar is one of America's great mystery coins! It is a 1976 proof Bicentennial dollar lacking the "S" mintmark for San Francisco, and was discovered at a Woodward & Lathrup department store in the Washington, D.C. area in 1977.

It is possible that this coin was struck as a presentation piece for a government or White House official in Washington, and then entered circulation when it was accidentally spent.

Mitchell Spivack of Wondercoins (wondercoins.com) is the owner of this unique Eisenhower Dollar and he exclusively commented on this coin for the readers of Mint Error News:

For the better part of around ten years, PCGS has valued the Unique 1976 Type 2 "No S" Silver Proof Eisenhower Dollar at $850,000 in its Price Guide. This value was established well before I bought and then immediately resold one of the two known 1975 "No S" Dimes at public auction back in September 2019 for $516,000 (it had previously sold for around $350,000). Additionally, several other Eisenhower dollars have recently traded well into six figures at public auction. The Ike dollar series has really "taken off" and has come into its own!

Based upon the recent upward trajectory of the (current) mintage two 1975 "No S" Dimes, as well as many Eisenhower Dollars now being worth in excess of six figures, I currently believe that the 1976 Type 2 "No S" Silver Proof Eisenhower Dollar is a "strong seven figure" coin. I receive, on average, at least one random, unsolicited, communication a day from across the globe from non coin collectors who believe they have found another "holy grail" 1976 Type 2 "No S" Silver Proof Eisenhower Dollar. Of course, they have all found, to date, simply one of the millions and millions of business strike Type 2 Eisenhower Dollars produced in Philadelphia in 1976. But, the word is spreading fast, especially via social media platforms such as YouTube, about the "holy grail" of Eisenhower Dollars - the Unique 1976 Type 2 "No S" Silver Proof Eisenhower Dollar! The 250th Anniversary of this great country is now less than 3 years away when this special coin will turn 50 years old!


Provenance and Price History
  • Reportedly found in a Woodward & Lathrup department store in Washington, DC.

  • The first sale was by Devonshire, raw in 1982.
    It sold for $5,000.

  • Martin Paul and Andy Lustig joint ventured it.

  • It was subsequently sold to Alan Hager.

  • Then it was certified PF 65 by NGC.

  • Martin Paul re-acquired it.

  • It was in a Superior Auction, lot # 1794, certified NGC 65 in 1997.

  • At some point it upgraded to PCGS PR 66.

  • Then it was in a B & M auction, lot # 647, realizing $41,400 in 2002.

  • Acquired by Mitchell Spivack.

  • Re-designated as a CAMEO by PCGS.



Three 1971-S Eisenhower Dollar Prototypes

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This prototype Eisenhower Dollar sold for
$264,000 in a 2022 Heritage Auction.

Photos courtesy of David Frohman



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The Chatham prototype Eisenhower Dollar sold for
$102,000 in a 2023 Heritage Auction.

Photos courtesy of Heritage Auctions (ha.com)

The "Lydston-Frohman" prototype became the world's most famous and expensive Eisenhower dollar ever sold, after David Frohman consigned it to Heritage Auctions in 2022 where it sold for $264,000.

This sale changed the entire pricing dynamic of the Eisenhower dollar market as it breached the six-figure ceiling for Eisenhower dollars. After the Frohman sale, six-figure prices for spectacular Eisenhower dollars were no longer an impossible dream, electrifying a silver dollar series that had long been overlooked and likewise clearly undervalued!

The "Charles Chatham" prototype that PCGS also graded Specimen-67 then came to market shortly after the Frohman sale at Heritage, where it realized $102,000. Chatham had bought the prototype for five dollars in an Alabama pawn shop, and David Frohman then assisted him in having it conserved and graded by PCGS.

It was also struck from a slightly different obverse die making it unique, and its new owner likely got a tremendous bargain when they bought it for only $102,000. This example may well see a much higher price if and when it returns to the market.

Unbelievably, the third and final prototype was purchased on eBay for approximately $100 or so! It was then graded by PCGS as Specimen 66, but its whereabouts are currently unknown.

The three specimens are typically presented in the order of discovery, which can also be seen from the Ike Group die marriage and variety designations, however, listing the Chatham specimen first we have:

SpecimenDiscoveryIke Group DesignationPCGS Cert
Charles Chatham2010DMR-039/ODV-011/RDV-00738115543
Lee C. Lydston2008DMR-038/DDO-023/ODV-010/RDV-00737150154
eBay2013DMR-038/DDO-023/ODV-010/RDV-00728566974

To read the extensive article by John Wang, a Mint Error News Consultant, on the history and discoveries of the Eisenhower Dollar SP Prototypes, click here...



Two Eisenhower Bicentennial Dollars
Struck at the Denver Mint on 40% Silver Planchets


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This example was certified MS64 by PCGS
and Mike Byers estimates the value at six-figures.

Photos courtesy of Justin Spivack (MonsterCoinMart.com)

A few 40% silver planchets produced at the San Francisco Mint and intended to be used to strike Eisenhower Dollars in San Francisco, were accidentally shipped to the Denver Mint. With only two known, they are far more valuable than the group of nearly fifty 1974-D and 1977-D 40% silver Eisenhower dollars known. And the finest-known of those two examples is graded MS-64 by PCGS.

Yet, among all those 1974-D and 1977-D silver dollars, two recently sold at Heritage Auctions in 2022 and 2023 setting record prices of $26,400 each. And both of those examples were only MS-62 and MS-63 graded coins!

This signifies a maturing market where collectors are developing a new appreciation for all true Eisenhower dollar rarities like those discussed in this article. And which have all remained vastly undervalued until recently, as record prices suggest a more sophisticated and evolving market.



Three 1973-S Uncirculated Eisenhower Dollars
Struck at the San Francisco Mint
On "Clad" Dollar Planchets


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This 1973-S example was certified AU 58 by NGC.
Mike Byers estimates the value at $75,000.

Photos courtesy of Mike Byers (mikebyers.com)

The discovery coin was found in 1983, and its owner stated in a 2012 Coin World article that it was graded by PCGS as MS-66. Hopefully soon it will be officially added to the 1973-S census as most publications (including the Red Book) only include two examples.

A quarter-century later the second example was discovered in 2008, which then sold in 2021 at a Stacks-Bowers Auction graded NGC MS-67 for $48,000. This coin was also featured in a 2011 Coin World article.

In 2011, the third and last known example was accidentally released into circulation by the U.S. Mint. It was discovered by noted numismatist Lee Lydston who acquired the coin from a California bank teller at face value. Today it resides in an NGC "About Uncirculated 58" holder.

In 2019, David Frohman bought the Eisenhower Dollar prototype in SP 67 from Lee Lydston, and it was pedigreed as the "Lydston-Frohman" example.

In 2022, Mike Byers sold the PCGS AU-58 "Lydston" example of the Clad Ike Dollar for $45,000. He reacquired the coin in a trade and David Frohman purchased it. It is now in a NGC holder with the same "Lydston-Frohman" pedigree as the 1971-S prototype.

From 1859 through the end of the silver dollar era in 1978, the San Francisco Mint struck 232,000,000 uncirculated silver dollars. The silver dollar series is comprised of Seated Liberty, Trade, Morgan, Peace, and Eisenhower dollars. Remarkably, these three 1973-S dollars are the only known uncirculated dollars, from any silver dollar series, ever struck by the San Francisco Mint that were not struck on silver planchets.



The Remarkable Bronze Eisenhower Dollars

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This example was certified PR62RD by PCGS.
Mike Byers estimates the value at $100,000.

Photos courtesy of David Frohman



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This example was certified PF69RD by NGC.
Mike Byers estimates the value at $100,000.

Photos courtesy of Mike Byers (mikebyers.com)

It may come as a surprise to many Eisenhower dollar collectors that a few rare examples exist not only in copper-nickel and silver, but also in bronze as well!

There are two known 1971-D uncirculated strikes in bronze that were accidentally struck on U.S. Mint Medal planchets. They were originally in the famous Dr. Berry collection of United State mint errors. However, given their importance, he donated them to the ANA Money museum where they now reside.

There are also two known struck in proof. The first known example is the unique "Byers-Frohman" discovery, which is a 1973-S Eisenhower dollar broadstruck on a 26 gram planchet.

Since the coin was struck by proof Eisenhower dollar dies, the collar was set for a normal 36 mm diameter planchet. However, it was dramatically broadstruck to a diameter of approximately 40 mm, which created a simply breathtaking cupped obverse and reverse.

It surfaced in an old-time collection of United States mint errors, and was originally authenticated and certified by NGC as Proof-61, and featured on the cover of Mint Error Magazine Issue 61.

The coin was acquired by David Frohman, who conserved the coin and submitted it to PCGS for grading and encapsulation in their "Rarities" holder. PCGS upgraded it to Proof-62 Red Cameo. The coin does have what appears to be obverse die ejection marks likely caused during production. Otherwise, it would likely grade Proof-67.

The second proof bronze dollar came to light in 2022, which is a unique 1971-S proof Eisenhower dollar overstruck on a bronze San Francisco Assay Office medal weighing 17.1 grams.

Although the San Francisco Assay Office Medal weighs 17.1 grams and has a smaller diameter than an Eisenhower Dollar, the pressure of the strike from the proof dies expanded the diameter to the size of an Eisenhower Dollar. It is in superb gem proof red condition and shows considerable detail from the design of the understrike. An absolutely phenomenal and world-class major mint error!

It sold in the August 2022 Heritage US Coins Signature® Auction #1348 for $40,800 and has traded hands since the sale, and is currently valued at $100,000.

Both unique Bronze Eisenhower dollars were unofficially struck, just as many of America's most valuable coins. Other examples are the 1913 Liberty nickels and the 1804 silver dollars which routinely sell for seven figures.



The Unique "Clover Leaf" Eisenhower Dollar Error

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This unique Eisenhower "Clover Leaf"
sold for $105,000 in a 2021 Heritage Auction.

Photos courtesy of Heritage Auctions (ha.com)

The unique "Clover Leaf" dollar bears the distinction of being the first Eisenhower dollar to smash the six-figure barrier, when it sold for $105,000 at Heritage in April, 2021.

This remarkable error coin was struck on three proof clad dime planchets, and graded by NGC as Proof-68 Ultra Cameo. While considered an Error, it is one of the remarkable intentional strikes made in the early 1970s at the San Francisco Mint.

This proof Eisenhower "Clover Leaf" was featured on the cover of a Mint Error News Magazine Special Edition in 2021, as well as being featured in a Coin World article on U.S. proof mint errors.



Proof 1973-S Eisenhower Dollar
Indented by Cent Planchet
Unique Mated Pair


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This unique proof 1973-S Eisenhower dollar indented
by a Cent planchet was certified R67 by PCGS.
Mike Byers estimates the value at $100,000.

Photos courtesy of Mike Byers (mikebyers.com)

This amazing unique discovery is the only known mated off-metal and indented pair on any U.S. proof coin. This mated pair is unique in several ways and is visually breathtaking. An Eisenhower Dollar planchet and a copper Cent planchet were both in the collar at the same time and were struck by Ike Dollar proof dies. The placement of the Cent planchet was perfectly positioned in the center of Eisenhower's portrait. Although there are a few other Eisenhower Dollar proof mated pairs known, this one is the most visually dramatic.

This unique proof Eisenhower dollar mated pair originally sold in the January 2008 Heritage FUN Signature® Auction #454 for $40,250. It has subsequently traded hands twice and is currently valued at $100,000.



Unique 1972 Eisenhower Dollar
Overstruck Twice With 1972 Cent Dies


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This unique Eisenhower dollar mint error
was certified MS 63 by PCGS.
Mike Byers estimates the value at $185,000.

Photos courtesy of Mint Error News

This unique Eisenhower dollar was overstruck twice with 1972 Lincoln Cent Dies. It was certified MS 63 by PCGS and is one of the most dramatic U.S. mint errors known.

There are a handful of Sacagawea dollars overstruck by Cent Dies, and a handful of State Quarters overstruck by Cent Dies. This Eisenhower dollar stands alone as a world class mint error in the Eisenhower dollar series.



The Only Known Proof Bicentennial
Eisenhower Dollar Major Mint Error


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This unique Bicentennial Eisenhower dollar
mint error was certified PF 64 by NGC.
Mike Byers estimates the value at $100,000.

Photos courtesy of Mike Byers (mikebyers.com)

This proof Bicentennial Eisenhower dollar major mint error is unique in many ways and has no equals. It is the only known proof Bicentennial Eisenhower dollar major mint error of any kind. It is the only known double struck with the second strike off-center. There are no off-centers known, no off-metals known, no mated pairs known, and no double denominations known.

This double struck proof Bicentennial Eisenhower dollar is pedigreed to John Devine "Lonesome John," a famous pioneer in the field of mint errors and was just certified by NGC. It was previously unknown to the numismatic community. It is in very choice proof condition and has deep mirrored fields with a cameo portrait and liberty bell. It has high eye appeal since the major devices on the second strike are fully struck. The Eisenhower portrait, Liberty Bell and the Moon are fully present as well as the complete IN GOD WE TRUST and E PLURIBUS UNUM.

Being the only known Proof Bicentennial Eisenhower dollar major mint error of any kind propels it into the rank of unique, amazing and spectacular numismatic rarities.




This article has featured the greatest rarities of the Eisenhower dollar series. Again, this is a series that has been long overlooked, but is finally drawing considerable attention.

We have witnessed a "golden age" of being able to buy world-class rarities like one of the three-known 1973-S copper nickel uncirculated dollars (or a unique bronze proof dollar) at truly bargain prices.

But with the rapidly growing sophistication of collectors, this golden age of bargain prices for great rarities like these specific coins may draw to a close within the next few years.



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