Do you have a 1978 Dollar? Or perhaps you’re interested in collecting them? Either way, you’ll be eager to know the 1978 Dollar Value. Thankfully, you’ve come to the right place, as we’re here to give you all the info you need.
We’ll not only look at the 1978 Dollar value, but also look at its varieties and how much they are worth. All you need to do is read on! Firstly, let’s check out our dollar value chart.
|1978 No Mint Mark Dollar
|1978 D Dollar
|1978 S Proof Dollar
The 1978 Dollar is the last of a series of coins called the Eisenhower Dollar, which was minted from 1971 to 1978. Also called Ike Dollars, many believe them to be Silver Dollars, but adding silver to dollar coins was stopped in 1976.
The reason that these coins had such a short run is that they were minted due to demand for coins in the gaming industry, mainly for Atlantic City and Las Vegas slot machines. The run ended as these coins were deemed too big to be accepted in general circulation.
In reality, Americans just never warmed to any type of dollar coin, always preferring the dollar bill. However, the dollar coins are still loved by collectors, including the 1978 Dollar. This specific year holds special appeal as it was the last made in the Eisenhower dollar series.
In all, the 1978 Dollar was made in three different mints. San Francisco was responsible for the proof coins, while Philadelphia and Denver made those meant for circulation. Let’s look at the value of each of these varieties in more detail.
Using a Coin Value Checker will give you a great idea of whether your 1978 dollar has a significant value
When we talk about the No Mint Mark Dollar, we mean one that was made in Philadelphia. Philly is the only mint not to mark their coins, which they eventually started doing in 1980. While they are America’s oldest mint, they didn’t make the highest number of 1978 Dollars as that honor went to Denver.
While not the biggest producer, Philadelphia still made 25,703,000 dollars in 1978. Due to the high number and this being a fairly recent coin, it’s very difficult to find one that has a very high value, as they need to be in near-perfect condition.
Coins are graded on a scale of 1 to 70 and even with an MS60 rating, your coin is only likely to be worth $2 at the most. So if you have a 1978 dollar that has wear or any type of noticeable damage, it will only be worth its face value.
On the flip side, if you have one that looks perfect then it may be worth quite a bit of money. The average sale price for an MS67 No Mint Mark 1978 Dollar is around $3,000. The record sale for one of these coins is $6,000, which was sold in 2023.
These coins can increase in value if they have deep toning and a particularly striking luster. Toning is the term used for how a coin can change color over time, and luster is essentially how shiny the coin is.
While producing more than Philadelphia, Denver didn’t beat them by that much, as this mint made 33,012,890 dollar coins in 1978. Even though they had a high quantity, we find that the Denver coins on average are valued a little higher than those from Philadelphia.
The reason for that is due to how these coins were used. The coins made in Denver were directly sent to either Las Vegas or Atlantic City for use in their slot machines. As you can imagine, a machine will quickly wear down a coin.
But what does this have to do with modern-day prices? Well, due to their use in slot machines, there are fewer Denver coins that have managed to stay in perfect condition until the present day. Due to this scarcity in the higher grades, they are worth a little more.
The average sale price for an MS67 coin is $3,500, while the record sale price was $7,050, which was an MS67 coin sold back in 2017. The value of these coins quickly drops off as you go down the grades, with an MS66 coin valued at an average of $300.
This can leave many people disappointed as they see a shiny coin and think it may have a high value. In reality, any sign of slight wear or scratches on that coin greatly reduces its grading. If you think you have a valuable coin, it’s best to have it professionally graded.
Back in 1978, San Francisco made 3,127,781 dollars. Why is this much lower than the other two mints? That’s because San Francisco was tasked with making the proof coins, which were never meant to be circulated.
These coins are mainly sold to collectors and never find their way into slot machines or pocket change. Due to this, they are only valuable if they are in perfect condition without any sign of wear or damage.
You can spot these coins as they will be particularly shiny and have an “S” mint mark. This mark can be found just below the neck of Eisenhower and just above the “7” in 1978. In Denver coins, they have a “D” mint mark.
To get a high value for these coins, they need to be rated at PR70. If you have one of these coins, then you’ll likely get at least $2,000. If it’s one grade below that, then the valuation dramatically drops to around $60.
What is the auction sale record for a 1978 S Proof Dollar? Curiously, it’s a four-way tie. On four separate occasions, this specific coin variety has sold for exactly $3,450.
The grading of these coins may seem a little complicated but it’s actually very simple. “MS” stands for mint state and is given to any circulated coins rated 60 or above. “PR” stands for proof, and is given to any coin not meant for circulation. Each coin is graded on a scale of 1 to 70, with 70 being for coins that are completely perfect.
You can’t make millions of coins without something going wrong along the way. When it does, we call these error coins. There are many types of coin errors, but here are the ones commonly found in the 1978 dollar.
Planchet is the name given to the blank metal disc before it becomes a coin. On many coins, you have an interior core of one metal (copper for 1978 dollar) and an outer cladding of another (copper and nickel). With the 1978 Dollar, there were planchets where that cladding ran out, which meant they didn’t have that shiny nickel outer. If in great condition, these coins can be worth over $1,000.
An indented strike can occur when the planchet bounces before being struck by the die and therefore is not perfectly in place. When the die strikes it, the design of the coin is often distorted with bits missing. They can be worth $200, or more.
To ensure that the design is properly printed onto a coin, it is held by a collar. However, there are times when the collar is missing or defective. When this happens, the metal expands outward when struck, leading to a deformed coin that is usually worth at least $100.
Brockage is when one coin sticks to the die. The stuck coin essentially becomes the new die but will instead strike a mirror image of the coin’s design. These can be fairly common but sales of over $500 are still achieved.
The 1978 dollar is not seen as a rare coin. A large number of them were made and therefore they can still be easily found today. However, these coins can become rare in terms of grading. If you have a perfect 1978 dollar, then there won’t be many other coins in the same condition.
None. Many wonder about the 1978 silver dollar value but it doesn’t exist. Some Eisenhower dollars were made with silver, but that stopped in 1976. All 1978 dollars were made with a mix of nickel and copper.
The mint mark can be hard to spot on some coins, but not the 1978 dollar. It can be easily found just below the neck of the bust of Eisenhower and just above the date. “S” is for San Francisco, “D” is for Denver, and Philadelphia coins had no mint mark.
The 1978 Dollar was the last of the intriguing Eisenhower dollar series. Many collectors love to have them, and they can be worth a lot of money.