A United States dollar coin struck in 1967 contains a specific composition and represents a distinct period in American coinage history. These coins, while bearing the denomination of one dollar, are often collected for their intrinsic metal value and historical significance rather than their face value. Their production reflects changes in the metal content of U.S. currency during the mid-20th century.
The importance of these particular coins lies in their connection to the broader context of American silver coinage. They represent a transitional phase, marking a shift away from the use of silver in circulating currency. Their benefit to collectors stems from their potential value as bullion, especially if the silver content exceeds the current market price of one dollar. Furthermore, these coins offer a tangible link to a specific year and era in American history, making them sought-after pieces for numismatists.
The following article will delve into the specifics of this coin’s composition, mintage figures, and factors affecting its value. It will also explore the historical context surrounding its production, including the economic forces that led to changes in U.S. coinage practices.
1. Composition
The term “clad coinage” is directly relevant to the 1967 silver dollar coin, as it describes the specific metallic composition used in its production. This composition is critical to understanding the coin’s intrinsic value, its place in numismatic history, and the economic factors that led to its creation.
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Layered Structure
Clad coinage refers to a method of coin production where a base metal core is bonded between layers of a different metal. The 1967 dollar coins utilize a copper core sandwiched between layers of a copper-nickel alloy. This layering technique contrasts with earlier coins that were struck from solid silver.
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Metal Composition Details
The precise composition of the clad layers is typically 75% copper and 25% nickel, while the core is pure copper. This combination provides a silver-like appearance at a fraction of the cost of using actual silver. It’s important to note that while the term “silver dollar coin” is used, it does not reflect the true metallic content.
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Cost Efficiency
The adoption of clad coinage was primarily driven by the rising cost of silver in the mid-1960s. As the value of silver in circulating coins approached their face value, the United States Mint transitioned to clad compositions to prevent the melting of coins for their silver content. The 1967 dollar coin exemplifies this cost-saving measure.
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Distinction from Silver Coins
Clad coins such as the 1967 dollar can be distinguished from their silver predecessors by their weight and color. Silver dollars are heavier and possess a distinct luster, while clad coins have a lighter weight and a less brilliant appearance. This difference is an important factor in coin identification and valuation.
In summary, the 1967 silver dollar coin’s “clad coinage” composition is a defining characteristic that differentiates it from earlier silver dollars. It reflects a significant shift in U.S. coinage policy driven by economic pressures. Understanding the implications of this composition is essential for anyone interested in collecting or understanding these coins.
2. Minting
The phrase “Minting: Continuing Production” in the context of the 1967 “silver” dollar coin refers to the uninterrupted manufacture of these coins despite changes in their metallic composition and their perceived value as compared to earlier silver issues. This sustained output reflects specific government policies and the demand for coinage at the time.
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Sustained Coinage Output
The U.S. Mint maintained continuous production of dollar coins throughout 1967, even though the silver content had been removed from circulation. This decision ensured an adequate supply of currency to meet the transactional needs of the economy. The 1967 dollar coins were part of this larger effort to keep sufficient denominations in circulation.
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Transition to Clad Metal
The shift to clad metal compositions did not interrupt the minting process. The mint adapted its production lines to accommodate the new materials, allowing for the continued output of dollar coins. This demonstrates the mint’s capacity to adjust to changes in metallic composition without halting production.
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Volume of Production
The high volume of 1967 dollar coins produced is a direct result of the “continuing production” mandate. The mint sought to replace the older silver coins with clad versions, leading to substantial mintage figures. This large quantity affects the coin’s collectibility and market value today.
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Impact on Collectible Value
Because the minting continued at a high rate, the 1967 dollar coins are not rare. Their availability contributes to a lower premium in the numismatic market compared to earlier, lower-mintage silver dollars. The “continuing production” directly impacts the supply side of the coin’s value proposition.
In conclusion, “Minting: Continuing Production” is a critical factor when evaluating the 1967 dollar coin. It explains the coin’s abundance, its clad metal composition, and its relative lack of scarcity. Understanding this continuous minting clarifies its place in U.S. coinage history and its value as a collectible item.
3. Value
The term “Value: Intrinsic metal content” bears a specific, and somewhat nuanced, relationship to the 1967 “silver” dollar coin. Unlike earlier silver dollars whose worth was tied directly to their silver content, the 1967 coins primarily derive their intrinsic value from the base metals used in their clad composition.
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Base Metal Composition and Valuation
The 1967 dollar coins, composed of a copper core clad with a copper-nickel alloy, possess an intrinsic value tied to the market prices of copper and nickel. While these metals do have inherent worth, their comparatively low prices relative to silver result in a lower intrinsic value for the 1967 coins than for pre-1965 silver dollars. This lower intrinsic value influences its desirability among collectors primarily interested in bullion value.
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Minimal Precious Metal Influence
Due to the absence of silver in the coin’s composition, the 1967 dollar’s value is largely detached from fluctuations in the silver market. In contrast, older silver dollars experience price changes corresponding to the current spot price of silver. This detachment from silver prices makes the 1967 coin a less attractive investment for those seeking precious metal exposure. It is mainly valued for its face value or its historical significance.
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Melting Point Considerations
While the intrinsic value might seem to encourage melting for metal recovery, the low value of the constituent metals and the cost of refining them render this practice economically impractical. The expense associated with separating and processing the copper and nickel exceeds the recoverable value of the metals themselves, negating any potential profit.
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Face Value Preservation
Given the limited intrinsic metal value, the 1967 dollar coins primarily maintain their value through their legal tender status and historical context. The face value of one dollar exceeds its intrinsic metal value, which is a key reason why these coins continue to circulate and are not typically melted down for their metal content.
Therefore, the intrinsic metal content of the 1967 “silver” dollar coin, while present, plays a reduced role in determining its overall value compared to earlier silver-containing issues. The coin’s worth is better attributed to its legal tender status, collectibility factors driven by its historical significance, and the relatively stable values of the base metals it comprises.
4. Collectibility
The “1967 silver dollar coin” experiences “Collectibility: Limited interest” primarily due to its composition and mintage figures. Unlike its pre-1965 counterparts containing 90% silver, the 1967 coins are composed of a copper core clad with a copper-nickel alloy. This fundamental difference in metal content significantly diminishes their appeal to collectors focused on bullion value or the intrinsic precious metal aspect of coinage. High mintage numbers further contribute to their limited collectibility, as readily available examples reduce scarcity, a key driver in numismatic value.
The low collectibility directly affects the market value of these coins. Dealers and collectors often price the 1967 “silver” dollar near its face value, with only slight premiums for uncirculated examples or those with particular grading designations. Compare this to the substantially higher prices commanded by Morgan or Peace silver dollars, where historical significance, silver content, and scarcity combine to create considerable demand. Auction results consistently reflect this disparity, with 1967 dollars rarely exceeding a few dollars in value unless graded exceptionally high. The composition of these coins causes collectors to only want it for face value or historical significance of transition from silver to metal clad.
Understanding the “Collectibility: Limited interest” surrounding the 1967 “silver dollar coin” is practically significant for both novice and experienced collectors. It allows for realistic expectations regarding investment potential and market value. This knowledge also prevents overpayment and guides informed purchasing decisions. While these coins may not offer significant financial returns, they still hold value as historical artifacts representing a period of change in United States coinage, potentially sparking interest in broader numismatic study.
5. Appearance
The connection between “Appearance: Eisenhower design” and the 1967 “silver dollar coin” is, at first glance, nonexistent. The Eisenhower dollar, featuring the portrait of President Dwight D. Eisenhower on the obverse and an eagle landing on the moon on the reverse, was not minted until 1971. The 1967 dollar coin, while sharing the one-dollar denomination, featured the Peace dollar or the later Morgan dollar designs as historical precedent or expectation. The assumption that the “Appearance: Eisenhower design” is linked to the 1967 date is an inaccuracy rooted in conflating dollar coin designs across different years.
The importance of the design as a component of coin identification is critical. Coin collectors rely on specific design elements to distinguish between different issues, denominations, and periods of coinage. Mistakenly associating the Eisenhower design with the 1967 dollar can lead to misidentification and potentially incorrect valuation. For example, attempting to sell a 1967 dollar as an Eisenhower dollar would immediately raise questions regarding its authenticity and origin. The visual difference between historical dollar designs and the later Eisenhower design are evident, highlighting the necessity of accurate identification.
In conclusion, the “Appearance: Eisenhower design” is not a characteristic of the 1967 dollar coin. This distinction is crucial for accurate numismatic study and collection. Understanding these design differences is essential for correct coin identification, valuation, and historical context. The erroneous association between the 1967 date and the Eisenhower design underscores the importance of meticulous attention to detail when dealing with collectible coins.
6. Historical Significance
The year 1967, and therefore the 1967 “silver” dollar coin, is inextricably linked to a significant turning point in United States monetary history. This period, often referred to as a “change era,” witnessed a fundamental shift in the composition of circulating coinage due to economic pressures and silver market dynamics. The increasing price of silver threatened to render existing silver coins worth more for their metal content than their face value, potentially leading to widespread melting and a disruption of the monetary system. The transition away from silver coinage was a direct response to these forces, making the 1967 dollar a tangible artifact of this pivotal era. The phasing out of silver certificates during this time further underscores the scope of these changes.
The 1967 dollar, composed of a copper core clad with a copper-nickel alloy, serves as a concrete example of this transition. Its very existence illustrates the government’s attempt to maintain a supply of dollar coins without relying on increasingly expensive silver. The deliberate choice to alter the coin’s metallic composition represents a crucial economic decision, affecting both collectors and the general public. Furthermore, the public’s reaction to this changeranging from hoarding older silver coins to adapting to the new clad currencyhighlights the practical implications of these monetary policies. The high mintage numbers of the 1967 dollar reflect the urgency of replacing silver coins and filling the demand for currency.
Understanding the historical significance of this “change era” is vital for appreciating the 1967 “silver” dollar coin. It represents more than just a denomination of currency; it embodies a crucial juncture in American economic history. Studying this coin offers insight into the challenges faced by the U.S. Mint, the economic factors driving monetary policy, and the evolving relationship between government, currency, and the public. While the coin itself may not be inherently valuable due to its composition and mintage, its historical significance grants it enduring relevance in the broader narrative of American coinage.
7. Mintage Figures
The “1967 silver dollar coin” is characterized by “Mintage Figures: High production numbers,” a factor that directly impacts its collectibility and market value. The United States Mint produced a substantial quantity of these coins during 1967, driven by the need to replace older silver dollars and satisfy demand for circulating currency amidst the transition to clad coinage. This high output, exceeding earlier mintages, resulted in a readily available supply of the 1967 coins for many years.
The direct consequence of “Mintage Figures: High production numbers” is a diluted scarcity, which is a primary determinant of numismatic value. Unlike low-mintage coins that command significant premiums due to their rarity, the 1967 dollar coin remains relatively common. This availability is evident in the modest prices observed in coin collecting markets, both online and at physical coin shows. For example, uncirculated specimens of the 1967 dollar, even in excellent condition, typically trade at only slightly above their face value. In contrast, earlier silver dollars with lower mintage figures from the same period often realize prices that are multiple times their silver content or face value. The abundant supply ensures minimal appreciation in value over time.
In conclusion, the “Mintage Figures: High production numbers” represent a critical attribute of the 1967 “silver dollar coin.” This characteristic limits its potential as a high-value collectible, rendering it more of a historical curiosity than a prime investment piece. The coin’s abundance underlines the economic forces at play during the transition from silver to clad coinage and serves as a tangible example of mass currency production. While it may lack the monetary allure of scarce coins, it remains a representative artifact of a transformative period in United States monetary history.
8. Legality
The designation “Legality: Lawful Tender,” when applied to the 1967 “silver” dollar coin, establishes its acceptance as a valid form of payment for all debts, public charges, taxes, and dues within the United States. Despite the absence of silver in its composition, the coin maintains legal tender status as stipulated by U.S. law. This status distinguishes it from commemorative or bullion coins, which may not possess such unconditional acceptance.
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Statutory Basis
The legal foundation for the 1967 dollar coin’s lawful tender status resides in federal statutes that define the legal currency of the United States. These statutes prescribe which coins and currencies are recognized for the settlement of obligations. The 1967 dollar, having been issued by the U.S. Mint under the authority of Congress, falls under these provisions, irrespective of its metallic content. Refusal to accept it at face value in settling a debt could, in theory, have legal ramifications, although such refusals are rare in practice.
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Distinction from Intrinsic Value
The legality of the 1967 dollar as lawful tender is separate from its intrinsic metal value. While the coin’s composition consists primarily of copper and nickel, materials with a market value significantly below one dollar, its legal status mandates its acceptance at the face value of one dollar. This disconnect between face value and intrinsic value is a consequence of the shift from specie-backed currency to fiat currency, where value is assigned by government decree rather than inherent metal content.
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Practical Implications
In practical terms, the “Legality: Lawful Tender” status ensures that the 1967 dollar can be used in everyday transactions, though its use is infrequent given its low collectibility and the existence of more convenient paper currency. Businesses and individuals are obligated to accept it as payment, even if they perceive its value to be lower than its face value. This legal mandate provides a baseline value for the coin, preventing it from being arbitrarily devalued below one dollar. However, private transactions can always be negotiated with different terms.
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Collectibility and Legal Tender
The coin’s status as lawful tender contrasts with its role as a collectible item. While the coin may be sold or traded at a premium among collectors, its inherent legal tender status guarantees its minimum value. A collector or dealer cannot legally refuse to accept the coin at its face value in settlement of a debt, regardless of its potential numismatic worth. This interplay between legal status and collectibility highlights the multi-faceted nature of the coin’s value and utility.
In summary, the “Legality: Lawful Tender” designation provides the 1967 “silver” dollar coin with an assured value within the U.S. monetary system, independent of its intrinsic metal composition or market collectibility. This legal foundation ensures its continued acceptance as a valid form of payment, solidifying its place in U.S. coinage history, albeit as a representative of a transitional period.
Frequently Asked Questions About the 1967 “Silver” Dollar Coin
This section addresses common inquiries and clarifies prevalent misunderstandings regarding the 1967 “silver” dollar coin, providing concise and factual answers to aid in understanding its historical context and numismatic value.
Question 1: Is the 1967 “silver” dollar coin actually made of silver?
No, the 1967 “silver” dollar coin is not composed of silver. It consists of a copper core clad with a copper-nickel alloy. The misnomer arises from its initial appearance and the historical association of dollar coins with silver content.
Question 2: What is the value of a 1967 “silver” dollar coin?
The value of a 1967 “silver” dollar coin typically hovers slightly above its face value of one dollar. Uncirculated examples or those with exceptional grading may fetch a modest premium, but high mintage figures generally limit significant appreciation.
Question 3: Why was the 1967 “silver” dollar coin made without silver?
The elimination of silver from the 1967 dollar coin resulted from rising silver prices in the mid-1960s. The U.S. Mint transitioned to clad coinage to prevent the melting of coins for their silver content, thereby maintaining a stable currency supply.
Question 4: How can one distinguish a 1967 “silver” dollar coin from an earlier silver dollar?
Distinguishing characteristics include the coin’s weight, color, and composition. Pre-1965 silver dollars possess a higher silver content, resulting in a greater weight and a distinct luster. The 1967 clad coins exhibit a lighter weight and a less brilliant appearance.
Question 5: Is the 1967 “silver” dollar coin considered a rare coin?
The 1967 “silver” dollar coin is not considered rare. High mintage figures contribute to its widespread availability, diminishing its numismatic scarcity and collectibility compared to lower-mintage coins or those containing precious metals.
Question 6: Does the 1967 “silver” dollar coin have any historical significance?
Yes, the 1967 “silver” dollar coin holds historical significance as a tangible representation of the shift from silver-based coinage to clad compositions in the United States. It symbolizes a pivotal period in American monetary history.
In summary, the 1967 “silver” dollar coin serves as a reminder of the changing landscape of United States coinage, transitioning from silver to cheaper alternatives. Its historical value outweighs its monetary worth, and even though is not rare, it still holds an important piece of history.
The following section will explore resources for researching and valuing your 1967 “Silver” Dollar Coin.
Tips for Handling and Evaluating a 1967 “Silver” Dollar Coin
This section provides practical guidelines for collectors and individuals encountering the 1967 “silver” dollar coin, emphasizing careful handling and accurate assessment to preserve its condition and historical value.
Tip 1: Prioritize Handling with Care: When handling a 1967 “silver” dollar coin, always grasp it by its edges to prevent fingerprints and oil from skin from marring the surface. These contaminants can accelerate oxidation and diminish the coin’s luster, especially for uncirculated examples.
Tip 2: Employ Proper Storage Methods: Store the 1967 “silver” dollar coin in a protective environment, such as a coin album, holder, or sleeve made from inert materials. Avoid PVC-containing plastics, which can react with the coin’s metal and cause irreversible damage.
Tip 3: Avoid Abrasive Cleaning Practices: Refrain from cleaning the 1967 “silver” dollar coin with abrasive materials or harsh chemicals. Cleaning can scratch the surface and reduce its numismatic value. Instead, consult a professional numismatist for guidance on safe and appropriate cleaning techniques, if necessary.
Tip 4: Conduct Thorough Visual Inspection: Carefully examine the coin’s surface for signs of wear, scratches, discoloration, and environmental damage. Use magnification to identify subtle imperfections that may affect its grade and value.
Tip 5: Assess Authenticity and Counterfeiting: Verify the coin’s authenticity by comparing it to known genuine examples and checking for anomalies such as incorrect weight, dimensions, or design details. Be wary of counterfeits, which can be difficult to detect without specialized knowledge and equipment.
Tip 6: Consult Numismatic Resources and Experts: Utilize reputable numismatic resources, such as price guides, grading services, and professional appraisers, to obtain an accurate assessment of the coin’s market value and condition. Seek expert advice when in doubt regarding its authenticity or collectibility.
Tip 7: Consider Third-Party Grading: For valuable or exceptional specimens, consider submitting the 1967 “silver” dollar coin to a reputable third-party grading service such as PCGS or NGC. Professional grading provides an objective assessment of the coin’s condition and authenticity, enhancing its marketability and value.
Proper handling, storage, and evaluation techniques are crucial for preserving the integrity and value of the 1967 “silver” dollar coin. These measures ensure that it remains a valuable historical artifact and a tangible link to a pivotal era in U.S. coinage history.
The subsequent section provides a comprehensive conclusion and future considerations for understanding this valuable currency.
Conclusion
The preceding exploration has illuminated the multifaceted nature of the 1967 “silver” dollar coin. Despite its inaccurate moniker, this coin represents a pivotal shift in United States monetary policy. Its composition, mintage figures, and subsequent collectibility all contribute to a nuanced understanding of a key moment in economic history.
Further study of the 1967 “silver” dollar coin, and the broader context of coinage transitions, remains valuable. Understanding the forces that shape currency and its composition offers insight into the complexities of economic policy and its tangible representation in everyday life. Collectors and historians alike can find enduring relevance in this artifact of a changing era.
