Are you curious about the value of a 1971 Silver Dollar? In this article, I'll give you an overview of how to determine the value of your 1971 Silver Dollar.I will discuss factors that influence its worth and provide resources for finding out more information. Now, let's learn all about the 1971 Silver Dollar Value!
The 1971 silver dollar value is quite intriguing. It's one of the most sought-after years for silver coin collectors, and it holds an important place in many people's collections. These coins were initially made mainly to be used as currency in the United States and its territories.
The currency that was to be circulating in our coinage system was intended to last for decades and be used by many people. The value of these coins has changed drastically over their lifetime, depending on how an owner treated the coin. This article gives more information about the value of the 1971 silver dollar. Read on!
1971 Silver Dollar Value
The actual value of a 1971 silver dollar can vary greatly, ranging from a few dollars to several hundred dollars or more, depending on the specific coin and its condition.
Collectors and investors are often interested in silver dollars because of their historical significance and the value of the silver they contain. Some 1971 silver dollars may be more valuable due to errors or other unique characteristics that make them one-of-a-kind.
If they are in uncirculated grade or contain various errors or varieties made in products such as double die strikes, off-center strikes, etc. Some examples of these error coins have been sold for up to $500 depending on quality and rarity at auction houses like Heritage Auctions.
All in all, determining the exact 1971 silver dollar value depends largely on which type you possess (40% Silver or Copper Nickel Clad) along with its condition and any varieties/errors present on it that could increase its desirability among coin collectors worldwide.
A 1971-S SP 67 was sold in January 2022 for a whopping $264,000!
History Of The 1971 Silver Dollar
The mint developed a one-dollar coin made of base metals, the Eisenhower Dollar, to alleviate shortages of pennies and nickels. This was convenient for people who needed access to coins minted with precious metals, such as the penny or nickel.
It became difficult to find these coins when they were no longer available due to shortages caused by World War II and later economic issues such as inflation and recessions.
In 1971, President Richard Nixon announced that he would end the production of silver dollars. Instead of silver dollars, he would begin issuing 10-cent pieces in nickel and dime denominations.
This was because people preferred using coins more than paper money (which had been banned). The new coins were also supposed to be harder to counterfeit than other denominations.
Features Of The 1971 Silver Dollar
The design of this silver coin had these key features on the obverse and the reverse sides;
1. The Obverse Side
The front of the 1971 Silver Dollar shows an image of Dwight Eisenhower facing to the left, with “LIBERTY” inscribed on the collar and the mint date at the bottom. On the front of the coin, you can find his face and the phrase “In God We Trust” inscribed in the front of him.
Frank Gasparro designed both sides of the coin and his initials, FG, are tucked away in an inconspicuous spot – near his neckline. The mint mark is also located above the date just below his head.
2. The Reverse Side
The 1971 Silver Dollar features the insignia of Apollo 11, America's 1969 Moon Landing Mission, on its reverse side. The Apollo 11 mission was the first human spaceflight and landing mission to land humans on the Moon.
The symbol is an eagle, wings extended and talons outstretched, about to land on the Moon. There are 13 stars surrounding the eagle with a few moon creators below its feet. Above its head is the earth.
At the top of the collar is a circular emblem reading “UNITED STSTES OF AMERICA” and mottoes, including: “E PLURIBUS UNUM” (from many one) at right. There is an inscription of the term “ONE DOLLAR” at the bottom collar of the coin.
The eagle's tail obscures Gasparro's signature(FG). The Apollo 11 astronauts wore this patch on their space suits during the lunar mission. The design was created by Michael Collins, an Apollo 11 crew member.
Other Features of the 1971 Silver Dollar
Other features of this coin include:
- Metal Composition: The 1971 Silver Dollar has copper and silver alloy, making it an excellent investment for collecting coins. 60% of the metal is copper, while only 40% is Silver.
- Size and Weight: The 1971 silver dollar has a diameter of 1 3/8 inches and weighs 24.59 grams. It has a Silver weight of 0.3161 oz. The coin is the same size and weight as the 1970 silver dollar, but it contains slightly more copper than the 1970 coin.
- Edge: The edge of the 1971 Silver Dollar is a small, raised circle in the center of the coin. It has been designed to make it easier for you to distinguish between a genuine coin and a counterfeit.
- Mint Marks: The mint mark on your 1971 Silver Dollar will be an “S” or “D” mint mark. The first letter refers to the San Francisco Mint, while the second refers to the Denver Mint.
- Appearance: The 1971 silver dollar will exhibit a shinier surface than the other coins. In addition, the coin has a smooth finish and lacks any raised or recessed areas. The coin's design is also different from that of other coins, as it does not have any portraits or symbols.
1971 Silver Dollar Errors
Many common errors can be found in silver dollars. One of the most common errors is a missing or misplaced mintmark. A mintmark is a small mark or letter placed on the front of a coin, usually at the bottom right corner, to indicate its origin.
There are also several other errors that you may see on your 1971 Silver Dollar. These include:
- Double Strike – Two coins struck from one die
- Re-punched Mint Mark – A mintmark has been punched into a coin and then re-used
- Re-punched Blank – A blank has been punched into a coin and then re-used
- Re-punched Date – A date has been punched into a coin and re-used.
The Grading System.
You can generate the highest value for your 1971 silver dollar with three benchmark grades.
Good (G 4)
An attractive coin that has been well-preserved and is in nearly perfect condition. The surfaces may have small blemishes, but the overall appearance is attractive. The design elements are still present, such as the date and mint mark; however, they may be weak or faint due to wear. You should expect to pay $6.93 or more for an uncirculated example of this grade.
Uncirculated (MS 63)
A very pleasing coin with no signs of wear. The surfaces are smooth and free from blemishes except for minor surface marks that do not detract from the coin's appearance. Considerable wear will be evident in this condition, but you will still pay a premium over a good grade because it has no signs of wear. Expect to pay $17 or more for this grade plus shipping costs.
Proof (PR 65)
This is the highest possible quality grading for a silver dollar! It has all of its original luster, and its surfaces are smooth. These dollars can cost at least $18.
Conclusion
The 1971-S silver dollar is a favorite amongst coin collectors because of its high purity and limited minting. Since many of these coins were placed into storage, uncirculated 1971-S silver dollars can command a significant premium above the value of their silver content.
