Silver Secrets: Discovering The 1974 Silver Dollar Value

Silver Secrets: Discovering The 1974 Silver Dollar Value
Posted on April 04, 2024 by BOLD Precious Metals
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Since the metal was originally discovered thousands of years ago, silver continues to be a high-value asset.

Bullion silver investment is one of the most secure ways of building or diversifying your portfolio. Just like gold, silver’s value is more likely to increase with time, giving investors handsome returns.

There are several ways in which you can invest in silver bullion. In this blog, we will talk about one of the most popular silver coins – the 1974 Silver Dollar.

If you plan on investing in this coin, know the 1974 Silver Dollar value beforehand to make an informed decision. It is also important to work with the right dealers and use authorized platforms for buying these coins.

Before we get too ahead of ourselves, let us start with a quick introduction to the 1974 Silver Dollar coin.

    What Is The 1974 Silver Dollar Coin?

Also known as the Eisenhower Dollar, the 1974 Silver Dollar is a bullion silver coin minted by the US Mint. During the new dollar’s creation, the US Mint made some dollars with only silver and others with a copper-nickel alloy.

Naturally, the only silver 1974 Eisenhower Dollar value was high as it contained 40% silver. These silver coins are popular in the bullion market for their quality and luster.

Minted by the San Fransico Mint, they carry the signature “S” mark. They are brilliantly uncirculated coins popular among collectors and investors alike.

The coin earns its name due to the US President’s bust portrait on its obverse side.

    The History Of The 1974 Silver Dollar

The 1974 Silver Dollar is best known for its connection to the famous US President Dwight D. Eisenhower.

Eisenhower made quite some waves across the country for his power plays and political gimmicks. Before these coins were minted, the last circulating dollar coins originated in 1935. After the President died in 1969, talks about commemorating him on the new dollar coins started making rounds.

By 1969, the bullion silver prices were on the rise, hinting at the reduction of the circulation of silver coins in the country.

While President Nixon’s administration encouraged the minting of a silver coin that honors Eisenhower, the House of Representatives was opposed to the same.

Finally, both parties compromised and made the decision to strike 150 million Eisenhower dollars for circulation using base metal and a few (issued for collectors) in 40% silver.

These are the 1974 Silver Dollar Coins we are discussing in the blog.

    Key Features Of The 1974 Silver Dollar

Now that we know the reason behind the high 1974 Silver Dollar value, let us have a look at the coin’s key features:

The Obverse

The obverse side of the coin is dominated by the left-facing portrait of President Eisenhower.

The silver coin’s inner rim showcases the word “LIBERTY” at the top. Toward the coin’s bottom-left, we see the inscription “IN GOD WE TRUST.”

We can also see the date inscribed along its lower rim.


The Reverse

When you turn the 1974 Silver Dollar, you see a detailed depiction of an eagle landing on the moon, signifying the famous US moon landing mission. With earth in the background, the eagle clasps an olive branch with its talons.

The silver coin’s top rim shows the words “UNITED STATES OF AMERICA,” followed by the motto of “E PLURIBUS ENUM” (out of many, one). The coin’s bottom rim features its denomination. The eagle on the silver coin is surrounded by a semi-circle with thirteen stars. These stars represent the first thirteen US states gaining independence.


Composition

The high 1974 Silver Dollar value is because of its composition. The coin’s outer layer is made of 80% silver and 20% copper. Its center contains 79% copper and 21% silver. Overall, the silver coin contains 40% silver and 60% copper alloy.


Weight

The Eisenhower Silver Dollar is a heavy coin that weighs 24.60 grams. With a diameter of 38.50 mm, the coin has a reeded edge.


Mint Marks

This coin was minted in three different locations – Philadelphia, Denver, and San Francisco. While Philadelphia did not put any mint marks, the marks of Denver and San Fransisco show “D” and “S” respectively. You can see a coin’s mint mark on its obverse side, above the mint date.


Bicentennial Coins

During 1975 and 1976, the US Mint issued special editions of the Eisenhower Silver Dollar to commemorate the 200th US independence anniversary. With special bicentennial design changes on the coin’s reverse, such editions are still popular among collectors.

    Factors Affecting The 1974 Silver Dollar Value

When you enter the bullion market, you will have multiple coin options to purchase and invest in.

Why should you invest in the 1974 Silver Dollar coin?

Let us answer this question by considering a few factors affecting the 1974 Eisenhower Dollar value:

Limited Mintage

According to a basic Economics rule, what is scarce will command more value. The same is true for these silver coins, especially the ones minted in San Francisco.

These 40% silver coins were minted only a little over 1.3 million times, making them rare. Such rarity further increases the 1974 Eisenhower Dollar value.


Errors And Variations

In the case of bullion coins, errors are not always considered negative. If your coin has some error in its minting, it makes it more unique and therefore, more valuable.

Doubled-die coin errors are some of the most common minting errors collectors find on their coins.

They occur when, during a coin’s minting, the die press strikes its obverse or reverse side multiple times at different angles. This gives the coin’s design a unique and overlapped look. Having said that, it is important to note that the 40% silver 1974 Dollar Coins were struck to near perfection.


Proof Coinage

The 1974 Eisenhower Dollar value also increases when you purchase proof coinage. Proof coinage refers to the early coin samples that were made for archival purposes. Such samples are also used to check dies.

If preserved over decades, their value is likely to be more than other coins in circulation.

    How To Determine The Condition Of Your 1974 Silver Dollar Coin?

If you are spending your hard-earned money to buy a silver coin, it is your responsibility to determine its condition. Be mindful of your coin’s condition before and after buying it. If you are new to the world of bullion coins, seek a professional’s help in tracking the value of the coin(s) you purchase.

Here are a few simple yet important ways to determine the condition of your 1974 Silver Dollar Coin:

Check The High Points For Wear

Examine your coin’s high points, such as Eisenhower’s cheek or the eagle’s wings, for signs of wear. These areas are often the first to wear out. An uncirculated coin will not show any such signs anywhere.


Analyze The Luster

A coin’s luster plays a major role in determining its condition. Coins in impeccable condition (almost all brilliantly uncirculated coins) retain the mint luster. This luster keeps downgrading as a coin gets circulated.


Check The Surface Condition

If you want to purchase a brilliantly uncirculated coin, ensure that its surface does not have scratches, nicks, or other damages. Coins with mint luster have little to no signs of surface damage.


Note The Details

Ensure that your coin is well-struck. A well-struck coin will display all its design details well.


Know The Grades

Finally, you should be well-versed with the coin grading system to get it in the desired condition. From brilliantly uncirculated (BU) to poor (P), a coin is given different grades depending on its quality and circulation.

The Value Of A 1974 Silver Dollar Today

As of March 2024, the NGC Price Guide discloses the 1974 Eisenhower Dollar value to be between $1.05 and $1.50.

Having said that, the uncirculated coin’s value in the open market can go as high as $6,400.

Special editions of this coin have been sold at sky-high prices in the past. The summer of 2022 witnessed a 1974 Silver Dollar without a mint being sold for a whopping $18,000!

You can also find unmarked coins listed on platforms like eBay, ranging from $3,500 to $7,500.

    Where To Sell Or Appraise Your 1974 Silver Dollar?

One of the many benefits of purchasing bullion silver coins is that they come with high liquidity. It is easy to sell your 1974 Silver Dollar Coin(s) and receive a handsome return on your investment.

Moreover, it is advisable to appraise your coins before selling them. This is the process of determining the precise value of your coins. It involves working with a qualified numismatic to grade your coins. Especially if you had purchased an uncirculated 1974 Silver Dollar quite some time ago, it is better to appraise it before you sell it.

A professional coin dealer is the best alternative for coin appraisal. If you want to sell your 1974 Silver Dollar, here are four of the most common options you can choose from:

Online Auctions

Especially if you have a special edition coin and you know that the 1974 Dollar Coin value is high, you can enroll yourself in online auctions. Platforms like eBay, Stack’s Bowers Galleries, and Heritage Auctions are frequented by coin buyers and sellers. Here, you can list your silver coin(s) for a reserve price.

Coin Shows

Many big cities across the globe host coin shows where buyers, traders, and collectors look for exotic coins. You can get yourself a table and display your 1974 Silver Dollar(s) on the same. This is a simpler and more direct way of selling your coin.

Online Coin Dealers

You can also get in touch with qualified coin dealers who use online platforms to sell different types of coins. These dealers will also help you appraise your coin and find you suitable buyers for the same.

    Protecting And Storing Your 1974 Silver Dollar

The more precious a coin, the better care it needs. Silver coins are prone to wear and tear due to multiple factors, such as humidity, heat, cold, pollution, or simply mishandling.

Here are simple yet important ways in which you can protect and store your 1974 Silver Dollar:

  • Store your coin in an airtight or tamper-resistant container. Many mints and dealers will give you coins in highly secure capsules.
  • Avoid storing your coin in an environment with high humidity or extreme weather conditions.
  • Use safe deposit boxes or lockers offered by your bank to keep your coin(s) secure.
  • Avoid keeping your coin in wooden cabinets or bookshelves. As the wood ages, it emits chemicals that can hamper your coin’s condition.
  • Use coin flips. These containers look like sleek and foldable books made from paper, cardboard, vinyl, or other secure materials that do not harm coins.

Final Thoughts

If you have a 1974 Eisenhower Silver Dollar, it has traveled a long time to be in your collection! Know the historical significance of the coin and understand the unmatched 1974 Dollar Coin value before you sell it. These coins have impressed collectors and traders alike, thanks to their regal designs and the inherent national pride they carry. Especially if you purchase a 40% silver Eisenhower Dollar that is uncirculated, store it well and maintain its condition over time. Mr. Eisenhower is bound to give you desirable returns if you treat the coin well and sell it in the future!

Sources for information and images: PCGS, NGC, and Heritage Auctions. Find more insights on precious metals and rare coins in our BOLD Precious Metals Blog section.

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