The United States Bicentennial in 1976 marked the 200th anniversary of the signing of the Declaration of Independence. To commemorate this momentous occasion, the U.S. Mint produced special Bicentennial coins including a silver dollar, half dollar and quarter.
While these coins all entered circulation for general use, the Bicentennial silver dollars were unique collector‘s items made of 40% silver. These stunning coins featured a portrait of President Dwight D. Eisenhower on the obverse and the Liberty Bell superimposed over the Moon on the reverse, symbolizing 200 years of American freedom and technological progress.
45 years later, 1776-1976 silver dollars remain prized by both coin collectors and bullion investors. Their value depends on a variety of factors from silver melt value to rarity and condition. Whether you‘re lucky enough to inherit one of these commemorative coins or you‘re interested in buying one for your collection, here‘s what you need to know about Bicentennial silver dollar values.
1776-1976 Bicentennial Silver Dollar Overview
The Bicentennial silver dollar is a one-year type coin minted only in 1975-1976 for the U.S. Bicentennial. It was the first commemorative silver dollar struck by the U.S. Mint since the 1900 Lafayette dollar.
A nationwide design contest was held in 1973 to choose the reverse image of the Bicentennial coins. The winning silver dollar design by Dennis R. Williams featured the Liberty Bell in front of the Moon, representing the past and present of American history.
All Bicentennial silver dollars were struck at the San Francisco Mint and bear an "S" mint mark on the obverse. Notably, they came in special collector sets and were made of a silver-copper clad composition, unlike the copper-nickel clad Bicentennial dollars struck for circulation at the Philadelphia and Denver Mints.
Here are the key specifications of the 1776-1976 silver dollar:
- Weight: 24.59 grams
- Diameter: 38.1 mm
- Thickness: 2.15 mm
- Composition: 60% copper, 40% silver (outer layers), pure copper core
- Silver content: 0.3161 troy oz pure silver
- Edge: Reeded
- Mint mark: "S" for San Francisco
A total of 11 million uncirculated and 4 million proof silver Bicentennial dollars were minted. While this is a substantial mintage compared to most U.S. commemorative coins, many Bicentennial dollars were later melted for their silver content in the 1980s. This has made remaining examples scarcer over time.
Factors That Determine Bicentennial Silver Dollar Value
Several key factors influence the value of a 1776-1976 silver dollar on the coin collecting market. The most important are:
1. Silver Melt Value
With a composition of 40% silver, each Bicentennial dollar contains 0.3161 troy ounces of pure silver. The melt value of the coin changes each day with the spot price of silver on global commodity markets.
As of March 2023, silver is trading around $22 per ounce, equating to a melt value of about $7 for each Bicentennial silver dollar. However, silver prices are quite volatile and were as high as $50 per ounce in 1980. At that price, each silver dollar would contain over $15 worth of silver.
Regardless of collectible value, the melt value sets a floor price for these coins. It‘s extremely unlikely for a 1776-1976 dollar to sell for less than its intrinsic silver value. Even the most worn and damaged examples are worth their weight in silver.
2. Coin Grade and Condition
As with any collectible coin, condition is a huge factor in the numismatic value of Bicentennial silver dollars. Coins are graded on the Sheldon Scale from 1 to 70, with higher numbers representing coins in better condition.
Uncirculated coins that were never used in commerce are graded from 60 to 70 based on their luster, strike and surface preservation. These are the most valuable from a collector standpoint. Circulated coins are graded from 1 to 59 depending on the amount of wear.
Proof coins specially made for collectors are also highly valued. These silver dollars have deeply mirrored fields and frosted devices and come in protective packaging. The highest graded Bicentennial proof sets are valued in the hundreds of dollars.
3. Varieties and Errors
Several varieties of Bicentennial silver dollars were produced with minor differences. The most notable is the Type 1 vs Type 2 reverse varieties. Partway through the minting process, the lettering on the reverse die was modified with thinner, clearer serifs. While both types are equally valued, the Type 1 is slightly scarcer.
Error coins are also highly collectible. Examples include off-center strikes, double die errors and partial collar errors. These mint mistakes are very rare and can fetch significant premiums from error collectors.
4. Demand and Numismatic Trends
Like all collectibles, the price of Bicentennial silver dollars fluctuates with overall demand in the coin market. Numismatic fashions change over time and collecting interests vary with demographic trends.
All modern commemoratives like Bicentennial dollars experienced peak demand in the late 20th century but prices have cooled off somewhat since 2000. Still, key date coins like the 1776-1976 silver dollar have a strong collector base and a bright long-term outlook as mementos of the Bicentennial year.
Current 1776-1976 Silver Dollar Values
While prices fluctuate with the silver market and collecting demand, here‘s a general price guide for Bicentennial silver dollars in early 2023:
Circulated coins (Mint State 60-62): $10-20
Choice uncirculated coins (Mint State 63-65): $20-30
Gem uncirculated coins (Mint State 65-70): $50-150
Proof coins (Proof 65-69): $20-35
Perfect proof coins (Proof 70 Deep Cameo): $150-300
Varieties and errors: $50-1000+ depending on rarity
Keep in mind, these are retail prices for certified coins graded by reputable services like PCGS and NGC. Raw, ungraded coins will trade for less, while rare errors and registry-quality examples sell for much more. The most valuable Bicentennial dollar, a Proof 70 Deep Cameo, sold for nearly $7000 in 2008!
Tips for Collecting Bicentennial Silver Dollars
Whether you‘re a casual collector or a serious numismatist, here are some tips for collecting and investing in 1776-1976 silver dollars:
-
Look for coins in original government packaging. Bicentennial dollars were sold by the U.S. Mint in special plastic holders and display boxes. These have collector value themselves and help preserve the coins.
-
Focus on quality over quantity. A single high-grade coin is a better investment than a roll of circulated dollars. Gem uncirculated and proof coins have the most potential for appreciation.
-
Learn to grade coins. Knowing how to distinguish between Mint State grades can help you determine fair market prices. Grading is part art and part science but improves with practice.
-
Consider professional grading. For valuable coins over $100, it‘s prudent to have them authenticated and graded by a third-party service. Certified coins are liquid and easy to value.
-
Compare prices from multiple dealers. The retail market for Bicentennial silver dollars varies widely. Get multiple offers and check "sold" listings from online auctions to gauge the market.
-
Be patient and buy the best you can afford. With their generous mintage, there‘s no need to overpay for Bicentennial dollars. Wait for the right coin at the right price that fits your budget.
Frequently Asked Questions
How much silver is in a Bicentennial dollar?
Each coin contains 0.3161 troy oz of pure silver.
Are all 1776-1976 dollars silver?
No, only Bicentennial dollars with an "S" mint mark were minted in 40% silver for collectors. Circulating coins from the Philadelphia and Denver Mints are made of a copper-nickel clad composition.
How can you tell if a Bicentennial dollar is silver?
Silver dollars are noticeably heavier (24.59 grams vs 22.68 grams) and have a distinctively whiter appearance than the copper-nickel clad coins. They also have an "S" mint mark.
Where is the best place to sell Bicentennial silver dollars?
Coin dealers, auction houses and online marketplaces like eBay are popular options. For the best price, get multiple offers and consider consigning rare coins to specialty auctions.
Are Bicentennial dollars a good investment?
Like all modern U.S. coins, 1776-1976 silver dollars are a niche investment that should only be a small part of a diversified portfolio. However, high grade and rare examples offer the potential for respectable long-term returns due to limited supply and collector demand. As silver bullion, they also provide a hedge against inflation.
The Bottom Line
More than just pocket change, 1776-1976 silver dollars are an enduring symbol of the American Bicentennial. These patriotic keepsakes are cherished by both history buffs and coin collectors as mementos of a momentous anniversary.
Unlike many modern commemorative coins, Bicentennial silver dollars also have intrinsic value as silver bullion. This makes them a more attractive and liquid collectible. Their melt value provides downside protection while their numismatic value gives them additional upside potential.
Whichever aspect most appeals to you, 1776-1976 Bicentennial dollars are a worthy addition to any collection or investment portfolio. By understanding the key factors that determine their value, you can buy these historic coins with confidence.
