The 1979 Anthony dollar, marked with the “FG” initials of its designer Frank Gasparro, represents a transitional period in United States coinage. It was intended to replace the larger Eisenhower dollar but ultimately failed to gain widespread acceptance due to its similar size to the quarter, leading to confusion among the public. The coin features a portrait of Susan B. Anthony on the obverse and an eagle landing on the moon on the reverse, a design element also seen on the Eisenhower dollar.
These coins hold value not only for their intrinsic metal content (none in this particular dollar) but also as collectibles representing an important, albeit short-lived, chapter in American numismatic history. They illustrate an attempt to modernize coinage and honor a significant figure in the women’s suffrage movement. The low relief design and distinctive composition contributed to its mixed reception, but it remains a sought-after piece for many collectors, especially those in uncirculated condition or with specific mint marks.
The following sections will delve further into the specifics of grading, variations, market value, and the legacy of this particular dollar within the wider context of US currency and coin collecting.
1. Composition
The composition of the 1979 Anthony dollar, marked with the “FG” initials, directly influences its intrinsic value and durability. Unlike traditional “silver dollars” which contained a significant percentage of silver, this coin is composed of a copper-nickel clad alloy. The outer layers consist of 75% copper and 25% nickel, bonded to a core of pure copper. This material choice was primarily driven by the rising cost of silver and the practical need for a durable, circulating currency.
This specific composition has several crucial effects. Firstly, the absence of silver means the coin’s value is primarily derived from its numismatic worth rather than its metal content. Secondly, the copper-nickel alloy provides resistance to wear and corrosion, essential for a coin intended for everyday use. The alloy is harder than pure silver, reducing the rate of wear and tear in circulation. The reddish hue of exposed copper on heavily worn coins serves as a visual indicator of circulation and wear level, aiding in grading.
In summary, the copper-nickel clad composition of the 1979 Anthony dollar is a defining characteristic. It differentiates it from earlier silver dollars and dictates its value proposition. The choice of materials reflects a shift towards more economical and practical coinage, while influencing its long-term preservation and collectibility within the numismatic community.
2. Frank Gasparro’s Initials
The presence of “FG” on the 1979 Anthony dollar is not merely a decorative element. These initials identify Frank Gasparro, the Chief Engraver of the United States Mint, as the designer of both the obverse and reverse of the coin. This signature is a critical detail for numismatists and plays a role in the coin’s identification and valuation.
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Designer Attribution
The “FG” initials provide irrefutable evidence of Gasparro’s artistic contribution to the coin. Without these initials, attributing the design directly would be more challenging, relying on historical records and stylistic analysis alone. The presence of the initials serves as a clear marker of authenticity.
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Collectibility Factor
While not the primary driver of value for the 1979 Anthony dollar, Gasparro’s signature contributes to its collectibility. Collectors often seek out coins designed by prominent engravers, adding an artistic dimension to their collections. His initials represent the human element behind mass-produced currency.
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Historical Significance
Frank Gasparro held the position of Chief Engraver from 1965 to 1981, a period that saw significant changes in US coinage. His initials on the 1979 Anthony dollar place the coin within the timeline of his tenure and the broader context of US Mint history. The “FG” becomes a symbol of his era.
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Placement and Variation
The location of Gasparro’s initials on the coin is consistent across all 1979 Anthony dollars. However, subtle variations in the die, such as slight differences in the clarity or sharpness of the initials, can occur. These minor variations, while not major factors, are of interest to specialized collectors focusing on die varieties.
In conclusion, Frank Gasparro’s initials on the 1979 Anthony dollar serve as a key identifier, linking the coin to its designer and the historical context of its production. While the presence of “FG” does not dramatically inflate the coin’s value, it contributes to its authentication, collectibility, and its place within the history of United States coinage.
3. Mint Marks
The presence and location of mint marks on the 1979 Anthony dollar are crucial for identification and valuation. These small letters indicate the specific United States Mint facility where the coin was struck. The 1979 Anthony dollars can be found with three different mint marks: “P” for Philadelphia, “D” for Denver, and “S” for San Francisco. The absence of a mint mark on a 1979 Anthony dollar signifies that it was minted in Philadelphia. The “S” mint mark is only found on proof coins made for collectors. The mint mark is typically located on the obverse of the coin, near the lower right of Susan B. Anthony’s portrait. Examining the mint mark is an essential first step in determining a specific coin’s origin and potential scarcity, consequently affecting its market value.
The Denver and Philadelphia mints produced coins for general circulation, while the San Francisco mint primarily produced proof versions intended for collectors. Proof coins, designated with the “S” mint mark, exhibit a higher level of detail and a mirror-like finish due to a specialized striking process. Therefore, understanding the association between the mint mark and the type of strike is essential for collectors seeking specific varieties. For example, a 1979-S Anthony dollar in proof condition is significantly more valuable than a circulated 1979-P or 1979-D coin due to its intended higher quality and limited production.
In summary, mint marks are indispensable for identifying and valuing 1979 Anthony dollars. They provide insight into the coin’s origin, production method (circulation strike versus proof strike), and relative scarcity. The presence or absence of a specific mint mark, along with the coin’s condition, directly influences its desirability and worth within the numismatic market. Accurate identification of the mint mark is a fundamental skill for any collector or investor interested in these coins.
4. Rarity
The rarity of a specific 1979 Anthony dollar, bearing the “FG” initials, is a primary factor influencing its numismatic value and desirability among collectors. Rarity is not solely determined by the total mintage numbers but also considers factors like survival rates in specific conditions, the presence of errors, and the demand from collectors. These elements combine to create a hierarchy of value within the 1979 Anthony dollar series.
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Mintage Figures by Mint
The mintage figures for each mint (Philadelphia, Denver, and San Francisco) directly impact the base level of rarity. Generally, lower mintage figures for a specific mint mark can indicate a higher potential value, assuming comparable condition. For instance, if the Denver mint produced significantly fewer 1979 Anthony dollars than Philadelphia, examples from Denver may command a slight premium. However, this is often overshadowed by other factors like condition and overall demand.
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Survival Rate in Uncirculated Condition
The number of 1979 Anthony dollars surviving in uncirculated condition significantly affects rarity. Coins that have never entered circulation retain their original mint luster and lack the wear and tear seen on circulated examples. Determining the number of surviving uncirculated coins is challenging but grading services like PCGS and NGC provide insights based on the coins they have graded. A 1979 Anthony dollar in MS-65 (Mint State 65) or higher is considerably rarer and more valuable than a circulated example.
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Proof Coinage Rarity
The San Francisco Mint produced proof versions of the 1979 Anthony dollar specifically for collectors. These proof coins, denoted by the “S” mint mark, have a higher level of detail and a mirror-like finish. While proof coins are generally produced in lower numbers than circulation strikes, their value is also influenced by the number of surviving examples in high grade (e.g., PR-68 or PR-69). The rarity of a particular grade within the proof series contributes to its overall collectibility.
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Error Coins and Varieties
Error coins, those exhibiting mistakes in the minting process, are often highly sought after by collectors. Examples include coins with double strikes, off-center strikes, or planchet errors. While major errors are uncommon, they significantly increase a coin’s rarity and value. The presence of a documented and well-known error on a 1979 Anthony dollar can transform it from a common coin into a highly desirable rarity, sought after by specialized collectors. Die variations, while not strictly errors, can also contribute to increased rarity and collector interest.
In conclusion, the rarity of a 1979 Anthony dollar, bearing the “FG” initials, is not simply determined by its mintage figures. It encompasses the number of surviving uncirculated examples, the condition of proof coins, and the presence of any minting errors or varieties. These factors, combined with collector demand, ultimately dictate the rarity and value of a specific coin within the broader numismatic market. Understanding these nuances is essential for collectors seeking to acquire rare and valuable examples of this coin.
5. Grading
The grading of a 1979 Anthony dollar, identified by the “FG” initials, is a critical process in determining its value and desirability within the numismatic market. Grading involves assessing the coin’s physical condition, based on established standards, to determine its level of preservation and any imperfections present. This assessment significantly impacts the coin’s market value, as higher grades command substantial premiums. Professional grading services, such as PCGS (Professional Coin Grading Service) and NGC (Numismatic Guaranty Corporation), provide impartial evaluations that are widely respected and trusted by collectors and investors. For example, a 1979-P Anthony dollar in circulated condition might be worth only its face value, while the same coin in MS-65 (Mint State 65) condition, as certified by a reputable grading service, could be worth significantly more.
The grading process considers various factors, including the amount of wear on the coin’s surfaces, the presence of scratches or other damage, the quality of the strike, and the coin’s overall eye appeal. The Sheldon Scale, a numerical scale ranging from 1 to 70, is commonly used to assign a grade to the coin. Lower grades indicate significant wear and damage, while higher grades indicate exceptional preservation and minimal imperfections. The importance of professional grading stems from its standardization and consistency. Collectors rely on the expertise of grading services to ensure that the coin they are purchasing is accurately represented, thus mitigating the risk of overpayment or misrepresentation. Furthermore, a graded coin, encapsulated in a protective holder, is safeguarded from further environmental damage, preserving its condition and value over time.
In summary, the grading of a 1979 Anthony dollar is an essential step in establishing its value and authenticity. Professional grading services provide a standardized and reliable assessment of the coin’s condition, influencing its market price and protecting it from further degradation. Accurate grading ensures transparency and trust within the numismatic market, benefiting both buyers and sellers. Understanding the grading process and its implications is crucial for anyone interested in collecting or investing in these coins.
6. Collectibility
The degree to which the 1979 Anthony dollar, identifiable by its “FG” initials, commands attention within the numismatic community significantly influences its market value. Collectibility arises from a confluence of factors, including its historical context, design, minting variations, and survival rates in various conditions. The coin’s relatively short period of circulation and its association with Susan B. Anthony, a key figure in the women’s suffrage movement, contribute to its appeal among collectors. Additionally, specific mint marks and the pursuit of higher grades incentivize collectors to seek out particular examples, elevating their market worth. The coin’s controversial reception at the time of its release further fuels interest, transforming it into a tangible piece of American coinage history.
The coin’s collectibility directly impacts its financial standing in the numismatic world. For instance, a 1979-S proof Anthony dollar, exhibiting a flawless strike and a pristine surface, commands a premium far exceeding its face value due to its exceptional condition and scarcity. Similarly, any documented errors in the minting process, such as double strikes or off-center strikes, can dramatically increase a specific coin’s desirability and, consequently, its market price. This demonstrates how collectors’ pursuit of specific, rare attributes directly translates into monetary value. Online auction platforms, numismatic shows, and dedicated coin collecting communities serve as marketplaces where this interplay between collectibility and value is continuously negotiated.
In summary, the 1979 Anthony dollar’s collectibility is not merely a subjective assessment but a driving force that shapes its economic presence within the numismatic market. Understanding the factors that contribute to this collectibilityhistorical relevance, minting variations, condition, and rarityis crucial for both seasoned collectors and newcomers seeking to acquire or trade these coins. The pursuit of specific examples and grades underpins the coin’s value and ensures its continued significance as a collectible item representing a unique period in American coinage.
7. Historical context
The historical context surrounding the 1979 Anthony dollar, identifiable by the “FG” initials, provides essential insight into its design, production, and ultimately, its limited success as a circulating currency. Examining this context reveals the economic, social, and political factors that shaped its existence.
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The Transition from Silver to Clad Coinage
The late 1960s and 1970s witnessed the removal of silver from circulating US coinage due to rising silver prices. The 1979 Anthony dollar represents a continuation of this trend, being composed of a copper-nickel clad alloy rather than silver. This decision reflected the economic realities of the time and the need to maintain a stable currency. The public’s prior familiarity with silver dollars like the Morgan and Peace dollars influenced their perception of the new, silver-less coin.
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The Failure of the Eisenhower Dollar
The Anthony dollar was intended to replace the larger and heavier Eisenhower dollar, which had also failed to gain widespread circulation. The Eisenhower dollar’s bulkiness made it inconvenient for everyday use, leading to its limited acceptance. The Anthony dollar was designed to be smaller and lighter, but its similar size to the quarter ultimately contributed to its own lack of popularity. The prior experience with the Eisenhower dollar set a precedent for public resistance to dollar coins in general.
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The Women’s Suffrage Movement and Susan B. Anthony
The choice of Susan B. Anthony as the face of the new dollar was a deliberate attempt to honor a significant figure in the women’s suffrage movement. This decision reflected a growing awareness of gender equality and a desire to recognize the contributions of women to American society. However, some critics argued that the coin’s design was not flattering to Anthony, potentially impacting its public reception. The association with a prominent historical figure added a layer of meaning and symbolism to the coin.
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The Vending Machine Industry and Coin Size Confusion
The Anthony dollar’s near-identical size to the quarter caused significant confusion and frustration among consumers. Vending machines often misidentified the dollar coin as a quarter, leading to financial losses. This practical problem contributed significantly to the coin’s failure to gain acceptance. The lack of coordination with the vending machine industry proved to be a critical oversight that undermined the coin’s viability as a circulating currency.
In conclusion, the historical context reveals that the 1979 Anthony dollar was not simply a poorly designed coin but rather a product of complex economic, social, and technological factors. The transition from silver coinage, the failure of the Eisenhower dollar, the desire to honor Susan B. Anthony, and the challenges posed by vending machine technology all contributed to its limited success. Understanding these historical forces provides a more nuanced appreciation for the coin’s place in American numismatic history and its enduring legacy as a cautionary tale in currency design.
Frequently Asked Questions
This section addresses common inquiries regarding the 1979 Anthony dollar, easily identified by the presence of “FG” initials, providing concise and informative answers.
Question 1: What is the actual metal content of the 1979 FG Anthony dollar?
The 1979 Anthony dollar does not contain silver. It is composed of a copper-nickel clad alloy, with outer layers of 75% copper and 25% nickel bonded to a core of pure copper.
Question 2: Where can the “FG” initials be found on the 1979 Anthony dollar?
The “FG” initials, representing designer Frank Gasparro, are located on the obverse of the coin, near the shoulder of Susan B. Anthony’s portrait.
Question 3: How do mint marks affect the value of a 1979 FG Anthony dollar?
Mint marks (“P” for Philadelphia, “D” for Denver, and “S” for San Francisco) indicate the mint where the coin was struck. The “S” mint mark is only found on proof coins and typically commands a higher value due to its intended superior quality and lower mintage.
Question 4: What factors contribute to the value of a 1979 FG Anthony dollar?
Key factors include the coin’s condition (grade), mint mark, presence of any minting errors, and overall demand among collectors. Uncirculated coins and proof examples generally have greater value.
Question 5: Why did the 1979 FG Anthony dollar fail to gain widespread circulation?
Its similar size and weight to the quarter caused significant confusion, leading to rejection by the public and problems with vending machines. The earlier failure of the Eisenhower dollar also contributed to public resistance toward dollar coins.
Question 6: How does one accurately grade a 1979 FG Anthony dollar?
Grading involves assessing the coin’s condition based on established standards. Factors considered include wear, scratches, luster, and overall eye appeal. Professional grading services like PCGS and NGC offer impartial evaluations that are widely recognized.
Understanding these aspects provides a foundation for evaluating and appreciating the 1979 Anthony dollar, recognizing its unique place in US numismatic history.
The following section will explore specific strategies for collecting and preserving 1979 FG Anthony dollars.
Tips for Collecting 1979 FG Anthony Dollars
The following guidelines aim to assist collectors in acquiring and maintaining examples of the 1979 Anthony dollar, marked with the “FG” initials of its designer.
Tip 1: Prioritize Certified Coins. Obtain coins graded and encapsulated by reputable services such as PCGS or NGC. This ensures authenticity and provides a standardized assessment of condition, crucial for establishing value.
Tip 2: Focus on Mint State Examples. Seek out coins graded Mint State (MS) 65 or higher. These coins exhibit minimal imperfections and retain their original mint luster, enhancing their long-term collectibility.
Tip 3: Understand Mint Mark Significance. Recognize that the “S” mint mark, indicating San Francisco proof coins, typically commands a higher premium than “P” (Philadelphia) or “D” (Denver) coins. Be able to correctly identify the mint mark location and its characteristics.
Tip 4: Research Error Varieties. Investigate potential error coins, such as double strikes or off-center strikes. Documented and authenticated errors significantly increase a coin’s value and collector appeal. Verify any purported error with established numismatic resources.
Tip 5: Consider Proof Sets. Explore acquiring complete proof sets containing the 1979-S Anthony dollar. A certified set maintains the integrity and context of the individual coin, potentially increasing its overall value.
Tip 6: Proper Storage is Essential. Ensure proper storage within inert, archival-quality holders to prevent environmental damage. Avoid handling coins directly to prevent fingerprints or scratches.
Tip 7: Stay Informed. Continuously update knowledge of market trends, mintage figures, and grading standards through reputable numismatic publications and online resources.
These tips offer a structured approach to collecting, preserving, and appreciating the 1979 FG Anthony dollar, emphasizing the importance of research, careful selection, and proper handling.
The next section will summarize the article’s key points and conclude with reflections on the lasting significance of the 1979 FG Anthony dollar.
Conclusion
This article has comprehensively explored the 1979 FG silver dollar, examining its composition, design origins, production specifics, rarity factors, grading standards, collectibility, and historical context. The investigation has revealed a coin that, despite its initial shortcomings as a circulating currency, occupies a unique and significant position within the realm of American numismatics. The presence of Frank Gasparro’s initials serves as a direct link to the artistic intent behind its creation, while mint marks provide essential clues to its production origin and potential scarcity. The coin’s composition, a copper-nickel clad alloy, reflects the economic realities of its era, marking a departure from traditional silver coinage. Understanding these elements is crucial for collectors and investors seeking to appreciate and value these coins.
The 1979 FG Anthony dollar serves as a tangible reminder of a specific period in American history, reflecting both the aspirations and challenges of its time. Collectors are encouraged to continue researching and preserving these coins, ensuring that their historical and numismatic significance is maintained for future generations. Further study of mintage figures, error varieties, and market trends will deepen understanding and appreciation for this often-overlooked piece of American coinage. Its legacy is assured through continued scholarly attention and responsible stewardship within the collecting community.
