Eisenhower dollar

The Eisenhower Dollar: A Coin with a Complicated History

Imagine a coin that was meant to be the face of change but ended up being more of a collector’s item. The Eisenhower dollar, issued by the United States Mint from 1971 to 1978, is one such story. This coin featured President Dwight D. Eisenhower on the obverse and a stylized image honoring the Apollo 11 Moon mission on the reverse. But why did this coin fail to circulate widely? Let’s dive into its fascinating journey.

The Birth of an Idea

Back in 1969, the idea of introducing a new dollar coin was proposed. The timing couldn’t have been more perfect as President Eisenhower had just passed away. Could this be his legacy? A compromise was reached to strike the Eisenhower dollar in base metal for circulation and in 40% silver as a collectible. This decision set the stage for what would become one of the most intriguing coins in American numismatic history.

The Design Process

Mint Chief Engraver Frank Gasparro drew inspiration from his sketch of General Eisenhower from 1945. He consulted with Mamie Eisenhower and worked with Brooks to create a design that met her approval. The reverse design features an eagle swooping low over the Moon’s surface, holding an olive branch in its claws, representing peace. This design was intended to honor both President Eisenhower and the Apollo 11 mission.

Challenges and Compromises

The first two prototype dollars were struck at the Philadelphia Mint in January 1971 and later destroyed. The coin went into circulation on February 3, with initial strikes coming from Denver and Philadelphia. However, the bulky size and weight of the coin made it difficult for people to use in everyday transactions. Critics noted that the depiction of President Eisenhower’s expression was not flattering, but this didn’t stop the public from hoarding these coins due to their poor striking quality.

The Circulation Dilemma

Despite efforts by Mint Director Eva Adams and her staff, Senator Mansfield refused to consider cancellation or delay of 1964-D Peace dollars. A public announcement was met with objections, and on May 24, the pieces were declared trial strikes never intended for circulation. The Mint had struck 316,076 pieces, which were melted amid heavy security.

Legislative Battles

The legislation authorizing the minting of the new coin was signed by President Nixon on December 31, 1970. However, the base-metal dollars failed to circulate significantly, except in Nevada casinos where they were preferred over privately issued tokens. The Mint sought to replace the Eisenhower dollar with a smaller-sized coin, but Congress authorized the Susan B. Anthony dollar instead, which also failed to circulate.

Collecting and Valuation

Given their modest cost and short series length, complete sets of Eisenhower dollars are inexpensive to assemble and are gaining popularity among coin collectors. Despite efforts by Mint Director Eva Adams and her staff, Senator Mansfield refused to consider cancellation or delay of 1964-D Peace dollars. A public announcement was met with objections and on May 24, the pieces were declared trial strikes never intended for circulation. The Mint had struck 316,076 pieces, which were melted amid heavy security.

Final Years

The American Revolutionary Bicentennial Commission recommended issuing a special half dollar and redesigning circulating coins. Legislation was signed in 1973, allowing for the temporary redesign of coins and the issuance of collector’s sets in silver clad. A design competition closed in January 1974, with Dennis R. Williams’ Liberty Bell design selected for the dollar coin.

The Legacy of the Eisenhower Dollar

Despite its initial failure to circulate widely due to its size and weight, the Eisenhower dollar remains a significant part of American numismatic history. It was produced in smaller sizes as patterns, with various compositions considered before the standard clad composition was chosen. The coin’s noble failure makes it a perfect collectible for numismatic historians.

The story of the Eisenhower dollar is a testament to the challenges and compromises in creating currency that reflects both historical significance and practical use. It serves as a reminder that even the most well-intentioned ideas can face unexpected obstacles, but their legacy lives on through collectors and enthusiasts who appreciate them for what they are.