If you think the loose change in your drawer is only worth face value, think again. Among the coins you might overlook is the 1972 Eisenhower Dollar Type 2, a rare variety that’s gained attention in recent years for its astonishing potential value—reportedly worth up to $3.5 million in pristine condition. Believe it or not, some collectors believe a few of these coins may still be floating in everyday circulation. Could you unknowingly possess one?
Let’s break down why this coin is so rare, what makes the Type 2 variant special, and how to identify if you’ve struck numismatic gold.
What Is the Eisenhower Dollar?
The Eisenhower Dollar was minted from 1971 to 1978 and honored both President Dwight D. Eisenhower and the Apollo 11 Moon landing, which is commemorated on the coin’s reverse with an eagle landing on the moon holding an olive branch. The coin was large, silver-colored, and struck in both circulating copper-nickel clad versions and collector-grade 40% silver versions.
While many Eisenhower Dollars are only worth face value or a slight premium, a few rare types stand out—especially the 1972 Type 2 Eisenhower Dollar.
Why the 1972 Eisenhower Dollar Type 2 Is Rare
In 1972, the U.S. Mint struck Eisenhower Dollars with three different reverse dies—now classified by collectors as Type 1, Type 2, and Type 3. The Type 2 is by far the rarest and most valuable of the trio.
Here’s why:
- The Type 2 die was used only briefly at the Philadelphia Mint before being replaced due to a flawed design.
- Only about 100,000 Type 2 coins are believed to have been minted.
- Of those, only a small fraction still exist in collectible condition.
- Even fewer are known in high mint state or proof-like quality—which is where the multimillion-dollar value comes in.
Because Philadelphia-minted Eisenhower Dollars in 1972 did not bear a mint mark, identifying a Type 2 takes a trained eye.
How to Identify a Type 2 Eisenhower Dollar
The most crucial detail lies on the reverse side of the coin—in the depiction of planet Earth.
Here’s how to spot a Type 2 reverse:
- Earth looks smooth: On Type 2 coins, the globe appears with weak or indistinct islands in the Caribbean region.
- Compare with Type 1 and Type 3:
- Type 1 shows clearly defined, raised islands.
- Type 3 features strongly outlined and accurate island shapes.
Because this flaw made the Type 2 design aesthetically inferior and geographically inaccurate, the Mint quickly corrected the error. As a result, very few Type 2 coins entered circulation, and most went unnoticed.
How Much Is It Really Worth?
Although most Type 2 Eisenhower Dollars in circulated condition may sell for $500 to $2,000, high-grade uncirculated specimens or coins with proof-like qualities have fetched staggering sums at auctions.
- A top-condition MS-66 or MS-67 Type 2 Eisenhower Dollar can sell for $10,000–$25,000.
- A nearly flawless MS-68 or better, which is incredibly rare, could command hundreds of thousands.
- Legendary specimens with exceptional luster, historical provenance, or unique strikes have driven up speculative values—some experts estimating that one museum-grade coin could be worth as much as $3.5 million to the right buyer.
Keep in mind: That multi-million-dollar figure is based on rarity, demand, and condition. Not every Type 2 will command that price, but even finding one in decent shape can yield a small fortune.
Could the 1972 Type 2 Still Be in Circulation?
It’s unlikely—but not impossible.
Many Eisenhower Dollars were used in limited circulation, especially in casinos and vending machines, and large numbers sat in vaults for decades. That means some coins, including rare varieties like the Type 2, may have escaped detection and entered the general public over the years.
Coin rolls from banks, estate sales, old change jars, and second-hand shops are all potential hiding places. If you’ve ever come across an Eisenhower Dollar and tossed it into a drawer, it might be worth taking a second look.
Tips for Coin Hunters
Here’s how to increase your chances of spotting a valuable Type 2:
- Inspect 1972 Eisenhower Dollars closely, especially those without a mint mark (Philadelphia issues).
- Use a magnifying glass or jeweler’s loupe to examine the globe on the reverse.
- Compare it to photos of the Type 1, 2, and 3 reverses online or in coin reference books.
- Consider getting the coin graded by a professional service like PCGS or NGC if you think it could be the real deal.
Final Thoughts
The 1972 Eisenhower Dollar Type 2 is a fascinating piece of U.S. coinage history—an overlooked error that has turned into one of the most prized rarities in modern numismatics. While the odds of finding one in circulation are slim, they’re not zero. With a bit of knowledge and a sharp eye, you could uncover a coin potentially worth hundreds of thousands—or even millions—of dollars.
So the next time you’re sorting through coins, don’t ignore that big, clunky Eisenhower Dollar. It might just be your ticket to a numismatic jackpot.
