Historically speaking, the death of a President who was not in office has not usually produced a new circulating coin design. The one thing that had produced interest in dollars had been the release of bag after bag of Mint State dollars from the Treasury in the early 1960s.
Is it a... These were included in the regular proof set. The exceptions were the special proof and BU examples of 40-percent silver Eisenhower dollars sold directly to collectors, but even these seemed inferior when considering those bags from the Treasury of less than a decade earlier. Leave a Reply Cancel reply You must be logged in to post a comment.
Putting a President on a circulating coin after his death when he was not in office at the time was something new unless decades or even more than a century had passed as was the case with Lincoln, Washington and Jefferson.
The reaction back in 1916, however, was that the dealers of the day were not very likely to stock these new and potentially valuable coins as their customers would get their own examples if they wanted them, but they were apparently not likely to buy them as they bought more valuable coins from dealers and not new issues. In the case of something like a Franklin half dollar, which had a high face value, there was little interest and it shows as today especially with full bell lines and in MS-65 some Franklin half dollars are bringing prices no one would have ever thought possible back in the 1950s.
After all, Eisenhower had named Nixon as his running mate twice. The fact that the effort was a big success probably played a significant but unspoken role in opening the door to a return to real commemoratives in 1982.
That would actually be a good way of describing the current situation with the Eisenhower dollar as there are very few avidly seeking to assemble sets. That, too, tends to mean lesser demand, all of which makes the Eisenhower dollar a perfect collection today for good values on a set that everyone can complete.
The regular Eisenhower dollar dates would return in 1977, although not without surprises, as this time there would be no 40 percent special issues even though no serious dent had been made in the 150 million authorization. There was something about 1,000 Morgan or Peace silver dollars that pushed the Eisenhower dollar into the shade. There might have been an important role played by the Bicentennial issues as they were clearly an attempt by nervous officials to produce a commemorative without calling it a commemorative.
The cost of the dollars was their face value and if someone had gotten interested in collecting dollars they would have been unlikely to find the new Eisenhower dollar very appealing.
Some ultimately were melted, leaving us with a somewhat uncertain situation as to precise mintages. For Bicentennial Eisenhower dollars there were two varieties with Variety 1 having low relief and bold reverse letters while Variety 2 coins have a sharper design and more delicate lettering. Even if dollars were not being produced at the time, the point was that they could be produced and carrying a Dwight D.