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.
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 Francisco 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 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 the 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 honored 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.
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 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.
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 “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 semicircle with thirteen stars. These stars represent the first thirteen US states gaining independence.
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.
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.
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 Francisco show “D” and "S,” respectively. You can see a coin’s mint mark on its obverse side, above the mint date.
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.
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:
Doubled-die coin errors are some of the most common minting errors collectors find on their coins.
If preserved over decades, their value is likely to be more than other coins in circulation.
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:
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.
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.
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.
Ensure that your coin is well-struck. A well-struck coin will display all its design details well.
Finally, you should be well-versed in 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.
Errors that occur on the coins are mistakes from the mint that drastically increase the value of the coin rather than decreasing it. Some rare errors can be worth for hundreds or even thousands of dollars. In this case, even small mistakes in coin production can make a 1974 silver dollar more valuable.
Here are some common errors and how they affect the price:
Sometimes, the coin’s design is accidentally stamped twice, causing letters, numbers, or images to look slightly doubled. If this happens on the front (obverse) or back (reverse), the coin can be worth much more than its normal value.
When the coin isn’t properly aligned during minting, part of the design may be missing or shifted to one side. Coins with minor off-center strikes have small added value, but if a large part of the design is missing, the coin can be rare and valuable. Similarly, if the metal disc (planchet) has defects, like cracks or missing sections, collectors may pay extra for it.
Some 1974 silver dollars were struck without a mint mark (the small letter indicating where the coin was made). Normally, these coins should have a D (Denver) or S (San Francisco) mint mark. A missing mint mark can make the coin more desirable, increasing its value.
The value of an error coin depends on how rare and noticeable the mistake is. Minor errors may only add a small premium, but significant mistakes can make the coin worth hundreds or even thousands of dollars. Collectors look for these unique features, making error coins more valuable than regular ones.
Making sure your 1974 silver dollar is real is important, especially if you plan to sell or collect it. Here’s how you can check its authenticity:
A genuine 1974 silver dollar should have a specific weight. Use a digital scale to check if your coin matches the official weight (usually 24.59 grams for Eisenhower dollars with silver content). If it’s too light or too heavy, it might be fake.
Real silver is not magnetic. Place a small magnet near your coin—if it sticks, the coin is likely fake or made of a different metal. However, some counterfeit coins use non-magnetic metals, so this test alone isn’t enough.
For the most reliable authentication, you can send your coin to professional grading services like PCGS (Professional Coin Grading Service) or NGC (Numismatic Guaranty Company). They will examine the coin and certify its authenticity, which can also increase its market value.
Check the details – Compare your coin’s design, lettering, and mint mark with verified images of real 1974 silver dollars.
Listen to the sound – A real silver coin makes a high-pitched ringing sound when tapped with another metal object.
Use a magnifying glass – Look for fine details, like the coin’s texture and any potential errors that could affect its value.
By following these steps, you can be more confident about whether your 1974 silver dollar is authentic.
The value of a 1974 silver dollar can change based on market demand, rarity, and collector interest. Here’s a look at recent sales, price trends, and future predictions.
Some 1974 silver dollars, especially those with errors or in perfect condition, have sold for high prices at auctions. For example:
The value of these coins can go up or down due to:
The Eisenhower dollar, including the 1974 version, is gaining popularity among collectors. While common versions may not see big price jumps, rare high-grade coins and error varieties will likely increase in value over time. Experts suggest that well-preserved and professionally graded coins will continue to be solid investments.
If you own a 1974 silver dollar, keeping it in top condition and staying updated on market trends can help you maximize its value!
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.
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:
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:
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!
The 1974 Eisenhower silver dollar is not extremely rare, but high-grade versions and error coins can be valuable. The 40% silver versions were only made for collectors, making them scarcer than regular clad coins.
Check the edge of the coin—silver versions have a smooth, solid silver appearance, while colored coins show a copper stripe. You can also look for an “S” mint mark on proof and uncirculated silver versions or weigh the coin (silver ones weigh around 24.59 grams).
Yes, you can sell an ungraded 1974 silver dollar, but professionally graded coins usually fetch higher prices. Collectors prefer certified coins from PCGS or NGC as they guarantee authenticity and condition.
A circulated coin has been used in everyday transactions, showing wear and tear. An uncirculated coin has never been used and retains its original shine and details, making it more valuable to collectors.
Yes, some counterfeit versions exist, especially those claiming to be 40% silver. To check authenticity, perform a weight test, a magnet test, and compare details with genuine coins. For certainty, consider professional authentication.
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