1978 Eisenhower Dollar Value: How Much Is Your Coin Worth?
The 1978 Eisenhower Dollar is worth anywhere from its face value of $1 in circulated condition to over $5,000 for rare, high-grade specimens. While most Ike dollars found in change today are common, certain mint marks and quality levels can make these large “cartwheels” quite collectible for everyday enthusiasts.
| Condition / Grade | 1978 (No Mint Mark) | 1978-D Value | 1978-S Proof |
|---|---|---|---|
| Circulated (Average) | $1.00 – $1.05 | $1.00 – $1.05 | N/A (Proofs not circulated) |
| About Uncirculated | $1.25 – $2.00 | $1.25 – $2.00 | $5.00+ |
| Uncirculated (MS63) | $5.00 – $10.00 | $5.00 – $8.00 | $12.00 (PR69) |
History and Overview of the 1978 Eisenhower Dollar
The Eisenhower Dollar, often called the “Ike” dollar, was minted from 1971 to 1978. It was designed to honor both President Dwight D. Eisenhower and the historic Apollo 11 moon landing. By 1978, the series was coming to an end, making way for the smaller Susan B. Anthony dollars in 1979. Because this was the final year of production, many people tucked these coins away as souvenirs.
If you have stumbled upon one of these large coins in a drawer or a piggy bank, you can use a free coin identifier app to quickly confirm its variety. While these coins look impressive due to their size, it is important to remember that by 1978, the U.S. Mint was no longer making “silver” dollars for general circulation. Most 1978 dollars are made of a copper-nickel clad composition.
For many Americans, CoinKnow is the go-to tool for identifying whether their coin is a common business strike or a more valuable proof. While the face value is just a dollar, the nostalgia factor and the sheer heft of the coin keep demand steady among entry-level collectors.
1978 Eisenhower Dollar Value by Mint Mark
To determine the value of your coin, the first thing you must look for is the mint mark. This is a small letter located just above the date, between Ike’s neck and the year “1978.” If there is no letter, it was minted in Philadelphia. A “D” stands for Denver, and an “S” stands for San Francisco.
Philadelphia and Denver produced coins for everyday spending. Because millions were made, a standard 1978-D or 1978 “No Mint Mark” coin that shows signs of scratches and wear is generally only worth $1. However, if you find one that looks brand new with a brilliant shine, the 1978 Eisenhower Dollar price in high mint state grades can climb significantly, sometimes reaching hundreds of dollars for MS66 or MS67 specimens.
The 1978-S Eisenhower Dollar is a different story. These were minted specifically for collectors in San Francisco. They feature a “mirror-like” background and frosted details. While they aren’t rare, they are almost always worth more than their face value because they were never meant to be spent in stores.
| Mint Mark | Production Type | Mintage |
|---|---|---|
| None (Philadelphia) | Business Strike | 25,702,000 |
| D (Denver) | Business Strike | 33,012,890 |
| S (San Francisco) | Proof Only | 3,127,781 |
Are There 1978 Silver Eisenhower Dollars?
One of the most common questions people ask is whether their 1978 Ike dollar contains silver. The short answer is: no. The U.S. Mint produced 40% silver Eisenhower dollars during the earlier years of the series (1971–1974) and some special Bicentennial versions (1776-1976). However, by 1978, all Eisenhower dollars—including the “S” mint proofs—were made of copper and nickel.
If your coin has a copper stripe visible on the edge, it is definitely a clad coin. Even if the edge looks solid silver, in 1978, it is almost certainly a nickel-clad coin that has just been well-preserved. You can find more details on the breakdown of composition and value differences for Eisenhower dollars online to ensure you aren’t misidentifying a common coin for a silver one.
While it’s disappointing to find out a coin isn’t silver, the 1978 Ike dollar is still a piece of American history. Using CoinKnow can help you track the market value of these non-silver issues, as prices for top-tier clad coins can sometimes exceed the melt value of old silver coins due to their rarity in perfect condition.
Determining the Grade of Your 1978 Ike Dollar
In the world of coin collecting (numismatics), “grade” is everything. Grading is the process of evaluating how much wear and tear a coin has suffered. For the 1978 Eisenhower Dollar, even a tiny scratch on Eisenhower’s cheek can drop the value from $50 down to $1.
Most coins found in pocket change are “Circulated.” These have been used in commerce and have flat spots on the hair or the eagle’s feathers on the back. “Uncirculated” coins, also known as “Mint State,” look exactly like they did the day they left the mint. These are the ones collectors want. They have a “mint luster,” which is a satin-like sheen that moves when you tilt the coin under a light.
| Grade Designation | Description | Estimated Market Value |
|---|---|---|
| Good to Fine | Heavy wear, flattened details. | $1.00 |
| Extremely Fine | Very light wear on highest points. | $1.50 – $3.00 |
| Mint State 65 | Gem quality with few marks. | $25 – $50 |
| Mint State 67+ | Perfect or near-perfect strike. | $500 – $3,000+ |
1978-S Proof Eisenhower Dollar Value
The 1978-S Proof Eisenhower dollar was produced for collectors and sold in plastic-encased sets. These coins are striking because they have a “Cameo” effect—the portrait of Eisenhower looks white and frosted, while the background is like a dark, polished mirror.
If you find a 1978-S Ike dollar in its original packaging, it is typically worth about $10 to $15. If it has been removed from the package and handled, the value drops, as the delicate mirror surfaces are easily scratched. The most valuable versions are those graded as “Deep Cameo” (DCAM) by professional services like PCGS or NGC. A PR70 Deep Cameo—the highest possible grade—can sell for several hundred dollars because it represents perfection.
Because these coins were never circulated, their “value” comes purely from their aesthetic beauty and their appeal to collectors completing a set. If you’re unsure if yours is a proof, the CoinKnow app can help distinguish between the shiny “Proof” finish and a very clean “Business Strike” from Denver.
Rare Errors and Varieties to Look For
While 1978 was a fairly consistent year for the U.S. Mint, errors do exist, and they are the “holy grail” for many casual searchers. Errors occur when something goes wrong during the striking process. For the 1978 dollar, keep an eye out for “Off-Center” strikes, where the design is shifted to one side, leaving a blank crescent on the coin.
Another interesting error is the “Clipped Planchet,” where the coin looks like a bite was taken out of the edge. Collectors also look for “Die Breaks” or “Cuds,” which appear as raised blobs of extra metal on the surface. These errors can turn a $1 coin into a $50 to $100 treasure.
Always inspect the edges and the lettering carefully. While true errors are rare, they are the main reason why a 1978 Eisenhower dollar would be worth significantly more than its face value to a specialized collector.
How to Sell Your 1978 Eisenhower Dollar
If you have determined that your coin is in exceptional condition or is a rare proof, you might be wondering how to get the best price for it. For common, circulated Ike dollars, it is best to simply keep them as curiosities or spend them, as the shipping costs to sell them online would exceed their value.
However, if you have a high-grade specimen, consider the following steps:
1. Protect the coin: Never clean it! Cleaning a coin destroys its collector value. Put it in a soft coin flip or a protective holder.
2. Get a second opinion: Use an app or visit a local coin shop to confirm the grade.
3. Check recent sales: Look at what similar coins have actually sold for on auction sites, rather than just the “asking price.”
4. Consign or Sell: For coins worth over $100, professional auction houses or reputable online dealers are usually the best route to find serious buyers willing to pay top dollar.
FAQ
Q: Why is my 1978 Eisenhower dollar so big?
A: The Eisenhower dollar was the last of the large-sized U.S. dollars, measuring 38.1 mm in diameter. It was designed to be the same size as the old Morgan and Peace silver dollars used in the early 20th century. Because they were cumbersome, they weren’t very popular for daily use, which is why the smaller Susan B. Anthony dollar replaced them in 1979.
Q: Can I spend a 1978 Eisenhower dollar at a store?
A: Yes, they are still legal tender in the United States. However, because they are so large and rare to see in the wild, many younger cashiers may not recognize them. They are worth at least $1, so you won’t lose money by spending them, but most people prefer to keep them as a piece of history.
Q: Is there a 1978 silver “S” mint Ike dollar?
A: No. While the San Francisco mint produced 40% silver Ike dollars from 1971 to 1976, all 1977 and 1978 Eisenhower dollars were made of a copper-nickel clad composition. If you see a 1978-S, it is a “Proof” coin, but it contains no actual silver.
Q: What is the most ever paid for a 1978 Ike dollar?
A: High-grade examples can reach surprising prices. A 1978 Eisenhower dollar graded MS67+ by PCGS once sold for over $5,000 at auction. These prices are only reached by coins in near-perfect condition with no visible flaws under magnification.
