The total mintage of all 40% silver Ikes was a little over 30 million pieces. Your collection’s value may benefit from the melting of precious silver metal coins. In the 40% silver versions the center core looks much like the same color as the top and bottom layers. The clad versions have a 100% copper core sandwiched between the outer *cupronickel top and bottom layers. You can also look at the side of the coin where the reeding is. The copper-nickel version weighs 22.68 grams, the silver Ike dollar weighs 24.59 grams. The best way to distinguish the two versions is by weight.
At the present close of silver at $20.86 a Troy Ounce, these Ike's contain a little over $6.50 in silver melt value. Today, they presently can be purchased for about $9 to $10 (except the 1973-S 40% Silver Proof) each from dealers, less on eBay, flea markets, or collector's who may not know the true value.
Nobody knows how many of these coins were lost to the melting pots, but some experts estimate that several million of these big coins were lost forever during this frenzied silver rush. The melt value had gone over the numismatic value of many of these silver based coins. During this time, a number of Silver Ikes were melted down by refiners for their silver. The 1971-1976 “S” Mint Eisenhower Dollar ** (40% silver) was worth almost $16 in silver content, despite its face value of $1. During the 1980 peak, silver reached a little over $50 a Troy Ounce.
