1972 Type 2 Eisenhower Dollar Value and Identification Guide
The 1972 Type 2 Eisenhower Dollar is worth anywhere from $30 in circulated condition to over $5,000 in high-grade mint state. Finding one of these elusive “Ike” dollars in your pocket change or an old collection is an exciting discovery for any casual collector hoping to strike silver-colored gold.
The Mystery of the Three 1972 Eisenhower Dollar Varieties
Most people don’t realize that in 1972, the Philadelphia Mint produced three distinct varieties of the Eisenhower Dollar. While most are common, the Type 2 variety is the “holy grail” for collectors. If you aren’t sure which version you have held in your hand, you can use a free coin identifier app to quickly discern the subtle differences in the design. The CoinKnow app is particularly helpful for beginners who need to zoom in on the specific details of the Earth on the reverse side of the coin.
The Type 2 was created accidentally when a single high-relief proof die—intended only for silver proof coins minted in San Francisco—was used to strike regular copper-nickel coins in Philadelphia. Because this mistake was corrected quickly, only a small number of these coins entered circulation. This rarity is exactly why collectors are willing to pay a significant premium for this specific 1972 variety compared to the standard Type 1 or Type 3 issues.
How to Identify the Rare Type 2 Reverse
To spot a Type 2, you need to flip the coin over to the reverse side and look at the Earth above the eagle. The Type 2 is characterized by a “flat” Earth with no clearly defined islands below the Florida peninsula. Instead, the area representing the Caribbean islands looks like a blurry, faint smudge or a smooth outline. In contrast, the common Type 1 shows three distinct islands, and the Type 3 shows those same islands clearly defined to the right of Florida.
Using the CoinKnow app helps you compare your coin against high-resolution reference images to confirm the “Incuse” look of the Earth. In this variety, the North American continent seems to blend into the background rather than popping out in high relief. Identifying these features is the first step in determining the true market worth of your find. If you find that your coin is actually the more common variety, you can still check the current price data for the 1972 Type 1 Ike Dollar to see what standard versions are bringing at auction.
Market Value and Price Guide for 1972 Type 2 Dollars
The value of a 1972 Type 2 Eisenhower Dollar is heavily dependent on its condition or “grade.” Most examples found in jars or piggy banks are “circulated,” meaning they have scratches and wear from being used as money. Even in worn condition, a Type 2 typically sells for $30 to $50. However, if the coin has a lustrous, mirror-like finish and no visible scratches, it is considered “Mint State” (MS) and its value skyrockets.
| Condition / Grade | Estimated Value |
|---|---|
| Circulated (Very Fine to About Uncirculated) | $30 – $100 |
| Mint State 63 (Choice Uncirculated) | $150 – $300 |
| Mint State 64 (Near Gem) | $400 – $750 |
| Mint State 65 (Gem Uncirculated) | $1,200 – $3,500 |
| Mint State 66+ (Superb Gem) | $5,000+ |
For more detailed breakdowns on how errors and metal composition affect these prices, you can explore this comprehensive 1972 dollar value guide which covers silver vs. clad versions. Remember that professional grading by services like PCGS or NGC is usually required to reach the highest price points.
Why Condition Matters for Your Eisenhower Dollar
Since the 1972 Type 2 was a circulation-strike coin made of copper and nickel, it was not treated with care at the mint. Most were dumped into large canvas bags where they banged against each other, creating “bag marks” or nicks. This makes high-grade examples extremely rare. A single extra scratch on Eisenhower’s cheek could mean a difference of $1,000 in resale value.
Before you spend money on professional grading, it is wise to use the CoinKnow app’s scanning feature to get a preliminary idea of your coin’s state. If the coin looks exceptionally clean and exhibits a strong “cartwheel” luster when rotated under a light, it may be worth the investment of a formal appraisal. Keep your coin in a soft flip or a protective holder to ensure its condition doesn’t worsen over time.
Frequently Asked Questions
Q: Is the 1972 Type 2 Eisenhower Dollar made of silver?
A: No, the Type 2 variety found in circulation is a copper-nickel clad coin. While the design was originally intended for the 40% silver proof coins, the Type 2 error coins themselves do not contain silver unless they were specially struck at the San Francisco mint (marked with an ‘S’).
Q: Where can I find the mint mark on my 1972 dollar?
A: The mint mark is located on the obverse (front) of the coin, just above the date and below Eisenhower’s neck. If there is no letter, it was minted in Philadelphia. If there is a “D,” it was minted in Denver. Note that the rare Type 2 variety is only found on Philadelphia (no mint mark) coins.
Q: Can I find a Type 2 in a regular bank roll?
A: While it is becoming increasingly rare, it is still possible to find an Eisenhower dollar in a bank roll or at a local teller. However, because most people know to look for them now, the 1972 Type 2 is usually sourced through estate sales or specialized coin collections.
