Bringing the latest mint error news to the collector. Also featuring Die Trials, Patterns, Test Pieces, Numismatic Rarities, Currency Errors and Discoveries from the U.S. Mint.
Unique Mint State Ike Dollar Overstruck on Proof Ike Dollar Struck at the Philadelphia Mint AND the San Francisco Mint!
This is an amazing Eisenhower Dollar which was unknown to the numismatic community at large until now. It was authenticated by J.P. Martin of ANACS four decades ago. Although obviously a piece de caprice it stands alone as a unique Eisenhower Dollar and has no equals.
It was just authenticated and certified by NGC as a 1978 Eisenhower Dollar Overstruck on a Proof Clad 1978-S Eisenhower Dollar. It was graded MS 67 and has gem pristine surfaces. The proof surfaces from the San Francisco dies are dramatic and clearly visible. Upon closer examination, the S Mint Mark is also visible.
It is unique for two very important reasons. It is an Eisenhower Dollar struck by the San Francisco Mint as a proof, which was subsequently overstruck by mint state Eisenhower Dollar dies from the Philadelphia Mint. It is a unique combination of a proof and mint state Eisenhower Dollar struck by two different U.S. Mints.
Considerable detail including Eisenhower's portrait is clearly visible from the Philadelphia overstrike on the obverse. The reverse also shows considerable detail of the overstrike as well.
Two other extremely rare and valuable Eisenhower Dollars (illustrated below) are the unique Proof No-S valued at over a $1,000,000 and one of three known Specimen Prototypes which sold for $264,000 in a Heritage auction.
This unique mint state Eisenhower Dollar overstruck on a proof Eisenhower Dollar, which was struck at both the Philadelphia Mint and the San Francisco Mint, belongs in the finest collection of unique numismatic items, Eisenhower Dollars or Mint Errors.
This unique Eisenhower Dollar was authenticated by J.P. Martin of ANACS four decades ago:
The Unique 1976 "No S" Bicentennial Proof Dollar
The PCGS CoinFacts Price Guide valued this unique Eisenhower Dollar long ago at $850,000. Today, Mike Byers estimates the value well into seven figures.
Photos courtesy of Andy Lustig
The 1976 Type 2 "No S" Silver Proof Eisenhower Dollar is one of America's great mystery coins! It is a 1976 proof Bicentennial dollar lacking the "S" mintmark for San Francisco, and was discovered at a Woodward & Lathrup department store in the Washington, D.C. area in 1977.
It is possible that this coin was struck as a presentation piece for a government or White House official in Washington, and then entered circulation when it was accidentally spent.
Mitchell Spivack of Wondercoins (wondercoins.com) is the owner of this unique Eisenhower Dollar and he exclusively commented on this coin for the readers of Mint Error News:
For the better part of around ten years, PCGS has valued the Unique 1976 Type 2 "No S" Silver Proof Eisenhower Dollar at $850,000 in its Price Guide. This value was established well before I bought and then immediately resold one of the two known 1975 "No S" Dimes at public auction back in September 2019 for $516,000 (it had previously sold for around $350,000). Additionally, several other Eisenhower dollars have recently traded well into six figures at public auction. The Ike dollar series has really "taken off" and has come into its own!
Based upon the recent upward trajectory of the (current) mintage two 1975 "No S" Dimes, as well as many Eisenhower Dollars now being worth in excess of six figures, I currently believe that the 1976 Type 2 "No S" Silver Proof Eisenhower Dollar is a "strong seven figure" coin. I receive, on average, at least one random, unsolicited, communication a day from across the globe from non coin collectors who believe they have found another "holy grail" 1976 Type 2 "No S" Silver Proof Eisenhower Dollar. Of course, they have all found, to date, simply one of the millions and millions of business strike Type 2 Eisenhower Dollars produced in Philadelphia in 1976. But, the word is spreading fast, especially via social media platforms such as YouTube, about the "holy grail" of Eisenhower Dollars - the Unique 1976 Type 2 "No S" Silver Proof Eisenhower Dollar! The 250th Anniversary of this great country is now less than 3 years away when this special coin will turn 50 years old!
Provenance and Price History
Reportedly found in a Woodward & Lathrup department store in Washington, DC.
The first sale was by Devonshire, raw in 1982. It sold for $5,000.
Martin Paul and Andy Lustig joint ventured it.
It was subsequently sold to Alan Hager.
Then it was certified PF 65 by NGC.
Martin Paul re-acquired it.
It was in a Superior Auction, lot # 1794, certified NGC 65 in 1997.
At some point it upgraded to PCGS PR 66.
Then it was in a B & M auction, lot # 647, realizing $41,400 in 2002.
Acquired by Mitchell Spivack.
Re-designated as a CAMEO by PCGS.
1971-S Eisenhower Dollar Prototype
This prototype Eisenhower Dollar sold for $264,000 in a 2022 Heritage auction.
The "Lydston-Frohman" prototype became the world's most famous and expensive Eisenhower dollar ever sold, after David Frohman consigned it to Heritage Auctions in 2022 where it sold for $264,000.
This sale changed the entire pricing dynamic of the Eisenhower dollar market as it breached the six-figure ceiling for Eisenhower dollars. After the Frohman sale, six-figure prices for spectacular Eisenhower dollars were no longer an impossible dream, electrifying a silver dollar series that had long been overlooked and likewise clearly undervalued!
To read the extensive article by John Wang, a Mint Error News Consultant, on the history and discoveries of the Eisenhower Dollar SP Prototypes, click here...
Featured on the cover of Mint Error News Magazine Issue 78:
Exotic and Intentional U.S. Error Coins In The Marketplace
One of the most controversial categories of U.S. coins are mint errors. Many dealers and collectors, as well as coin auction houses, buy, sell, trade and auction many rare, exotic and unique major mint errors. Obviously, some of these defy logic and were intentionally created and taken out of the Mint.
In the early 2000's, a group of several hundred U.S. error coins were found in a safe-deposit box. Fred Weinberg purchased this group which included coins struck for proof sets and also coins struck for circulation. This group was auctioned by the California State Controller's Office of Unclaimed Property. The U.S. Secret Service inspected and released this collection to the State of California determining that it was legal to own. The State of California then auctioned the collection and the rest is history.
Another example of U.S. error coins escaping the Mint occurred in the 1970's. A hoard of proof error coins were smuggled out of the San Francisco Mint inside the oil pans of forklifts that were being serviced outside of the Mint. This topic was discussed in the June 6, 2022 Issue of Coin World, which covered Fred Weinberg's account of this story. The Coin World Managing Editor concluded:
Obviously, the marketplace accepts these coins, and some collectors are happy paying thousands of dollars for coins that show every indication of having been created through illegal means.
In Episode 11 of the PCGS video series Slab Lab, Seth Chandler interviews Fred Weinberg. In part 2 of the interview, Fred explains in detail why mint errors that are decades old are not recovered by the U.S. Mint. Fred's recollection of conversations in his office with the Chief of the U.S. Mint Police are extremely insightful and explain why the Mint doesn't attempt to recover error coins from decades ago.
Rare Eisenhower dollars are featured in a Mint Error News article:
