Coinflation: Silver dollar intrinsic value and coin price

Last Update: May 09, 2008

1971-1974, 1976 Eisenhower Ike Silver Dollar Melt Value

1971-1974, 1976 Silver Eisenhower Dollar Value (United States)

U.S. MINT SPECIFICATIONS
Denomination:	$1.00
Obverse Image:	Dwight D. Eisenhower, 34th President of the United States.
Reverse Image:	1971-1974: Eagle flying over the moon holding an olive branch; tribute to the Apollo 11 mission. 1975-1976: Bicentennial design with the Liberty Bell in front of the moon (all were dated 1776-1976).
Metal Composition:	40% silver, 60% copper
Total Weight:	24.59 grams
Comments:	All of the silver "Ike" coins were minted at the San Francisco Mint in 1971, 1972, 1973, 1974, and 1976. These coins were either uncirculated or proof. Uncirculated coins came in cellophane with a blue plastic token in a blue envelope. Proof issues came in a proof set-like plastic case in a fancy brown wood colored box with a gold seal on back. The uncirculated coins are referred to as 'Blue Ikes' and the proofs as 'Brown Ikes'. Coins minted in 1975 and 1976 for the Bicentennial come with the quarter and the half dollar of that year. The uncirculated coins were sold by the Mint for three dollars; the proof version for ten dollars. Two varieties of the dollar were produced in 1976 and can be distinguished by the thickness of the lettering. [ ? ]

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CALCULATING TODAY'S MELT VALUE (USD)

Using the latest metal prices and the specifications above, these are the numbers required to calculate melt value:

$16.80

silver price / ounce on May 09, 2008.

.40

silver %

$3.7533

copper price / pound on May 09, 2008.

.60

copper %

24.59

total weight in grams

.0321407466

ounce/gram conversion factor

.00220462262

pound/gram conversion factor (see note directly below)

The NYMEX uses pounds to price copper and that means we need to multiply the metal price by .00220462262 to make the conversion to grams. The silver price is based in troy ounces and that means we need to multiply the metal price by .0321507466 to make the conversion to grams.

1. Calculate 40% silver value :

    (16.80 × .0321507466 × 24.59 × .40) = $5.3127436917

$5.3127 is the rounded silver value for the 1971-1974, 1976 silver Eisenhower dollar on May 09, 2008. This is usually the value used by coin dealers when selling these coins at melt value. However, the total melt value is continued below.

2. Calculate 60% copper value :

    (3.7533 × .00220462262 × 24.59 × .60) = $0.1220821

3. Add the two together :

    $5.3127436917 + $0.1220821 = $5.4348257917

$5.4348257917 is the total melt value for the 1971-1974, 1976 silver Eisenhower "Ike" dollar on May 09, 2008.

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MINTAGE AND COLLECTIBLE VALUE (USD)

The "Year" column lists the year and mint mark on the coin -- D is for Denver, S is for San Francisco, and P is for Philadelphia. A coin without a mint mark means it was also minted in Philadelphia. The "Mintage" column is the number of coins struck and released by the U.S. Mint. The "Numismatic Value Range" column represents what people typically pay for that type of coin (usually a very wide price range depending on the condition).
Year	Mintage	Numismatic Value Range
1976 S	4,908,319	$10.00 - $35.00
If you think a coin should be added/subtracted, please send an email. If you're interested in learning more about grading coins, Photograde is an excellent resource.

EBAY AUCTIONS - SILVER EISENHOWER DOLLARS ONLY

I believe that the old saying, "A coin is only worth what someone will pay for it," is absolutely true. I prefer eBay because it displays what people are actually paying for coins. Monthly coin price magazines and online price lists may not reflect current market conditions because they don't demonstrate what people are actually willing to pay.

View all silver Eisenhower dollar auctions or those with the least time left (below).

CHARTS
Long-term metal price charts for the silver Eisenhower dollar: