1972-S Eisenhower Dollar Uncirculated : A Collector’s Guide

By Charles Morgan and Hubert Walker for CoinWeek Notes …..

1972: A Make-or-Break Year for the Eisenhower Dollar

In 1972, a year after the initial buzz… and then thud… of the release of the new Eisenhower Dollar coin, the United States Mint continued its work to refine and improve Cheif Engraver Frank Gasparro’s design. A number of subtle changes were undertaken by the Mint’s engraving department, including a mid-year change in the quality of die steel used to strike the hard copper-nickel clad circulating coins.

That there was little demand for the large-format dollar did not dissuade the government from striking almost 170 million coins at the Denver and Philadelphia mints. At Denver, coin production more-or-less went smoothly, while at Philadelphia, minor tweaks (and possibly die mixups) led to the creation of three major varieties, known by “Ike” collectors as 1972 Type I, Type II, and Type III dollars.

A second variant of the Eisenhower Dollar was produced not for circulation but for collectors and was struck in a 40% silver-clad composition. Before 1965, all United States dimes, quarters, and half dollars were struck in a .900 fine silver composition. Dollar coins, not produced since 1935, would have also followed suit had production been ongoing. This changed with the passage of the Coinage Act of 1965, which removed silver entirely from dimes and quarters and reduced its fineness in the half dollar to 40%. The Act did one other thing as well. It prohibited the production of dollar coins until 1970, at which time Congress would reevaluate the need for such a coin.

The Silver-Clad Eisenhower Dollar Issued as a Compromise

The death of former President Dwight D. Eisenhower on March 28, 1969, gave dollar coin advocates a reason to support the release of a new coin, but a question remained regarding the continued use of the 40% silver composition. The Mint, for its part, was satisfied with removing silver entirely and assisted the Treasury Department in separating pre-64 silver issues from federal holdings and melting down the obsolete coins. By the end of 1969, a majority of the silver dimes, quarters, and half dollars in circulation had been withdrawn by speculators, collectors, and the Government.

A large faction in Congress supporting the production of a new dollar coin pushed for the Cu-Ni clad composition, but there were others, like Representative H.R. Gross (R-IA3), who found the idea of a “scrap metal” dollar coin to be an insult to the memory of the former president. Gross’ opinions were shared by many in the Senate but stood in opposition to the prevailing sentiment of the House, which had coalesced around the cause of seeing to the complete removal of silver from American circulating coinage.

The compromise spelled out in the bill, signed into law by President Richard M. Nixon just before midnight on December 31, 1970, approved the striking of up to 150 million silver-clad dollars, drawing from Treasury stockpiles of silver for the coin’s production. These silver-clad coins would form the basis of the collector issues struck in Proof and Uncirculated formats at the San Francisco Assay Office.

The Uncirculated 1972-S Eisenhower Dollar Corrected Quality Control Issues

The 1971-S Uncirculated issue, as an earlier CoinWeek profile points out, was a quality-control disaster. And given the high price above face value that the U.S. Mint was charging for the coin, the collecting community and the general public were not happy. The Mint explained these flaws by stating that the coins were produced the same way a regular coin would be struck for circulation, but that wasn’t entirely true. Many of the 1971-S coins looked milky, with improperly prepared planchets. Author Rob Ezerman also points out that many suffered post-strike damage due to the careless way in which the coins were shipped from San Francisco to Denver for packaging.

Whatever happened in 1971 to cause that issue to stand out among the poorest-quality postwar issues the Mint had produced had been addressed by the time the 1972-S Uncirculated dollars went into production. As it stands, the 1972-S Eisenhower Dollar (“Blue Pack“) Uncirculated coin is the 1881-S Morgan of the series, which is to say that, by a very great degree, the quality of this issue is unparalleled. It is significantly better than the 1971-S, marginally better than the 1974-S, and much better than the 1973-S.

How Much Is the 1972-S Eisenhower Dollar Uncirculated Coin Worth?

The 1972-S Eisenhower Dollar Uncirculated coin sells for $14 to $3,500 USD. Many claims online suggest that this date is worth up to $10,000, but that simply isn’t true.

To understand why a coin readily available on sites like eBay for $14 to $20 could sometimes sell for thousands of dollars, you must understand the certified coins market. A certified coin has been authenticated, graded, and encapsulated by an industry-accepted third-party grading service. The coin hobby in the United States recognizes three major companies: CAC, NGC, and PCGS. CAC is a newcomer to the encapsulation business. Still, their CAC-approved green oval stickers have created a significant market for premium quality coins over the past 15 years. However, NGC and PCGS have graded far more coins, and most of the certified 1972-S Eisenhower Dollars that appear on the market have been graded by one of these services.

From a quality standpoint, the 1972-S Eisenhower Dollar uncirculated coin is a much higher quality release than the 1971-S. Certified populations at PCGS and NGC bear out the story of how the 1972-S is a far superior coin. With nearly 25,000 submissions, the typical 1972-S certified by PCGS grades either MS66 or MS67, with 3,215 earning MS68. Today, the PCGS MS69 certified population stands at 34 pieces, a 19-coin increase from where this top-pop grade sat a little over a decade ago.

At NGC, certified populations follow a similar trajectory, although NGC pops are significantly lower due to the lower submission volume. The overwhelming majority of all coins submitted to NGC (5,418) grade either MS66 or MS67. Six hundred and forty-five earn NGC’s MS68 grade, while just 15 have been put into MS69 holders.

To date, CAC has graded only 120 1972-S Eisenhower Dollar uncirculated coins at its new Virginia Beach grading center, but it has applied the CAC approval sticker on 222 coins at the MS68 level. These coins traditionally sell for a premium over coins without the sticker in the same grade.

The highest price paid for a 1972-S Eisenhower Dollar at auction is $3,680 USD, paid for a superior-quality example offered at an April 2011 Heritage sale. A few have sold for slightly higher figures in private sales between 2014 and 2016. With the rising population, the price for a top-pop 1972-S Eisenhower dollar has softened somewhat, but we feel that the coin is stable at $2,600.

At more affordable price points, collectors have a decision to make.

For Eisenhower Dollars that would grade MS67 or below, coins are typically a standard Blue Pack example encased in a trackable, inert holder. The original government packaging is prone to degradation, so paying a modest premium for a certified holder offers clear benefits. However, since only the packaging distinguishes these coins from typical examples at this grade, their long-term upside is limited. We recommend MS67 or lower grades only for collectors with tight budgets or those building a type set affordably. For Eisenhower Dollar set registry collectors, MS68 or MS68+ coins are a more intelligent choice. MS68 examples generally sell for around $100, and paying a slight premium for a high-quality coin, especially one with CAC approval, is worthwhile.

MS68+ coins have become more affordable as their graded population nears that of MS69 coins. These offer near-MS69 quality at a significant discount, typically around $500. A dedicated specialist might pay $1,000–$1,500 for an exceptional MS68+ example likely to upgrade to MS69.

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Market Data and Noteworthy Specimens

Top Population: PCGS MS69 (42, 5/2025), NGC MS69 (20, 5/2025), and CACG MS68 (222:3 stickered:graded, 6/2025).

• PCGS MS69 #25671493: GreatCollections, June 22, 2025, Lot 1854439 – View.
• PCGS MS69 #51088302: GreatCollections, February 16, 2025, Lot 1756991 – View.
• PCGS MS69 #30663258: Heritage Auctions, May 13, 2024, Lot 93552 – $3,118.80.
• NGC MS69 #6819470-006: GreatCollections, February 9, 2025, Lot 1365706 – View.
• PCGS MS69 #26243300: “Sonoran Monsoon,” Heritage Auctions, January 8, 2016, Lot 6214 – $3,055.
• PCGS MS69 #30844002: Heritage Auctions, December 5, 2014, Lot 4403 – $2,585.
• PCGS MS69 #60166542: Heritage Auctions, April 29, 2011, Lot 5981 – $3,680.
• PCGS MS69 #73099237: Heritage Auctions, December 3, 2010, Lot 4048 – $2,760.
• PCGS MS69 #73613356: Heritage Auctions, March 16, 2007, Lot 1436 – $4,312.50.
• PCGS MS68 #38634074: The Foxfire Collection; “The D. Brent Pogue Collection, Part VII,” Stack’s Bowers, March 20, 2020, Lot 7311 – $1,440. Peagreen toning throughout with orange, magenta, purple, and electric blue splashes.

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Design

Obverse

Gasparro’s portrait of Dwight D. Eisenhower (as President); Eisenhower facing to the left. Gasparro’s initials FG appear raised in the bust truncation. Beneath Eisenhower’s chin, to the left, is the motto IN GOD WE TRUST. LIBERTY wraps around the top of the coin in the space between the rim and the top of Eisenhower’s head. The date wraps around the bottom of the design, between the rim and the bottom of Eisenhower’s bust truncation. While Philadelphia-struck pieces bear no mintmark, coins struck at Denver and San Francisco will bear small mintmarks of “D” or “S” above the space between the last two digits of the date and below Eisenhower’s neck. On Eisenhower dollars, mintmarks were hand-punched and may vary in exact location and orientation.

Reverse

The reverse is based on astronaut Michael Collins’ Apollo 11 Mission Patch design.

In the center, a bald eagle in descent. In its talons, an olive branch. Its left wing is raised. The lunar surface lies below. Above the eagle’s head is a depiction of the Earth. North America is prominently visible. Wrapping around the top of the coin adjacent to the rim is the legend UNITED STATES OF AMERICA. Thirteen small five-pointed stars circle around the eagle. Below the ring of stars but above the eagle is the motto E PLURIBUS UNUM. Wrapping around the bottom of the design is the denomination ONE DOLLAR.

Edge

The edge of the 1972-S Eisenhower dollar is reeded.

Designer

Frank Gasparro was a friend to numismatists and served as Chief Engraver of the United States Mint from 1965 to 1981 (View Designer’s Profile).

Coin Specifications

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