Elusive Gem 1972 Type 2 Eisenhower Dollar to Sell at GreatCollections

By CoinWeek …..
On Sunday, March 28, 2021, bidding ends on GreatCollections.com for this 1972 Type 2 Eisenhower dollar certified MS-65 by PCGS. The coin comes from the Walnut Park Collection of Eisenhower dollars.

Unpopular with consumers but appreciated by a number of U.S. collectors as the last large-size dollar coins struck for circulation (and the only large-size clad dollar coins), Eisenhower dollars were introduced in 1971 to honor the recently-deceased former president and general. Though short-lived (the design and size were both retired after 1978; small-size and even less popular Susan B. Anthony dollars were introduced in 1979), the series offers a number of challenges for collectors, and its second year, 1972, illustrates some of the series’ complexities.

Three distinct hub varieties exist for 1972 Eisenhower dollars struck at the Philadelphia Mint, differentiated primarily by the visible landmass on earth’s surface above the eagle, on the top-left of the reverse design, around 11 o’clock. 75,890,000 1972 (P) business strike Eisenhower dollars of all three types were struck at the Philadelphia Mint in 1972. The terms used for the three hub varieties are somewhat confused: Whitman’s Guide Book of United States Coins refers to Variety I, II, and III, while most dealers and collectors call them Type I, II, or III. PCGS’ holder refers to the MS-65 Ike as a Type 2.

Type 2 1972 (P) Eisenhower dollars, the rarest of the three types, were struck with Proof dies. Examples released in March and August of 1972 show identifying die markers. The continents are “crudely drawn” on the Type II reverse, the earth is rounded, and the islands of the Caribbean are joined together and struck incuse.

The precise number of Type 2s is unknown, but they command a premium over their more common Type I and II counterparts. Business strikes were also struck at the Denver Mint in 1972. Clad and silver-clad Proof and silver uncirculated Eisenhower dollars were struck at the San Francisco Mint in 1972.

Mint State 1971 and 1972 Eisenhower dollars are rarer than 1973 coins in the same grade since they were not included in Mint Sets. 1972 dollars typically exhibit poor strike, muted luster, and heavily marked planchets. Uncirculated examples grading above MS-63 are condition rarities, highly sought-after in a series often defined by poor eye appeal.

Small certified populations underscore the poor strike quality and relative rarity of Gem examples. PCGS has certified 115 other Type IIs MS-65 (4 in MS-65+) and just eight MS-66. MS-65 examples are more abundant for the other two types; PCGS has given the Gem grade to 556 Type Is and 568 Type IIIs.

PCGS CoinFacts estimates 5,000 1972 Type IIs survive in grades MS-60 or better, and 500 in MS-65 or better. It is regarded as the key to the Eisenhower dollar series, necessary for the completion of a subtypes-inclusive set of the coins.

If recent auction results are any indication of the auction’s result, GreatCollections’ example could easily fetch more than $1,000. GreatCollections’ example has already attracted spirited bidding. At the time of writing, the bidding stood at $661, with 14 bids recorded. According to the auction page at the time of writing, 54 GreatCollections members are tracking the auction and the page has 152 views.