The Planchet
A Publication of theIndianapolis Coin Club
October 2009 Issue 507

The next meeting will be Monday,
October 26th 2009
The Meetings of the Indianapolis Coin Club are held
the fourth Monday of each month at theNorthside Knights of Columbus
2100 E. 71st Street in Indianapolis, Indiana.
The Meetings consist of a business session, an intermission, educational program,and a numismatic auction. Doors open at 6:00pm, meeting will begin at 7:00pm.

This month it is exhibit night!
2009 Meeting Dates:
Oct. 26thNov. 23rd
December is our banquet there is no meeting.

$$$$ “ALWAYS BUYING” $$$$

VINTON G. DOVE

PAYING TOP PRICES FOR ALL U.S.
COINS

Certified Public Accountant
Collecting U.S. Coins Since 1952

DON’T SELL WITHOUT GETTING OUR OFFER!!!

LARRY HYLTONBROWNSBURG, IN

ANA, ISNA-LM, CSNS-LM 443 Wellington Road(317) 852-8458

Indianapolis, IN 46260(317) 257-1906
Fax( 317) 257-2220

Jim Fuson
Retired Teacher & Coach
ADVERTISE IN THE ICC NEWSLETTER!
Collector of old U.S. Coins
And old Sports Cards
Also have some coins and cards for sale

$35 a year!

5795 E. Co. Rd. 350 S., Plainfield, IN 46168
ICC & ANA
(317) 839-5178

APPRAISALSBUY AND SELL

PHONEAdvertise in the Indianapolis Coin
(317) 753-7967 Club Newsletter! The cost is only

DOUBLE D. KOINSDONALD D. KING SR.
Member

$35.00 for a business card size
ad for 12 issues!
The Monthly Planchet is the official publication of the Indianapolis
Coin Club. It is published monthly in Indianapolis, Indiana. All
inquiries should be sent to ICC, P.O. Box 2897, Indianapolis, Indiana, 46206.

Table Of Contents
The 2009 Indianapolis Coin ClubOfficers and Board Members
Letter From the President

President
Vice-President
Secretary
Treasurer
EditorPast President
Sgt-at-Arms
Board Member 2009-2010
Board Member 2009-2010
Board Member 2009-2010
Board Member 2008-2009
Board Member 2008-2009
Board Member 2008-2009

Matt Dinger
Advertisers
Jim Roehrdanz Article
Treasurer's Report
Vinton Dove
Secretarys Report
Don King
Matt Dinger
Mark Eberhardt
Jim Warden
Dave Reid
Bob Bettcher
Don WrayJim Fuson
Charles Alber
Michael White

Page 1Page 2
Page 5
Page 4
Page 3

History of the Eisenhower Dollar
By: Keith Scott

Back in March, 1964, the Treasury Department ordered the end to paying out silver dollars.
Yet with a coin shortage looming, and silver near or exceeding the face value of a silver dollar, laterthat year, congress voted to coin 45 million additional silver dollars, which turned out to be Peace
Dollars, even though the Peace Dollar had not been coined for over 40 years. After production ofover 300,000, production was stopped, and it looked like the end of the large dollar coin. TheCoinage Act of July 23, 1965 included a provision that no standard silver dollars were to be coined
for a period of five years.
Near the end of the five year ban, Congressman Bob Casey of Texas introduced a bill into theHouse on October 29, 1969 calling for a circulating commemorative dollar to honor both Dwight
Eisenhower and the Apollo XI space flight. Eisenhower died six months earlier and America had asignificant sentiment for the WWII hero and two-term president. Additionally, there was pressure fordollar-sized coins from the Nevada gambling casinos, which yearned for a return to the days when
the action at the tables was with American silver dollars. With the silver content of a silver dollar
now well beyond face value of a silver dollar, silver dollars had disappeared. Casinos had to pay premiums to buy Morgan and Peace dollars, which the public would keep, or order dollar-size tokens
from the General Numismatics Corporation, which later became known as the Franklin Mint. If you
can get the US Government to provide your business supplies, buy coining a new dollar coin, why
not go for it?
It took more than a year, but after much political bickering, it became law on December 31st,
1970. The bill called for a circulating coin made from the same metal content (copper and nickel)
used in the dime and quarter (clad) and which was to be used for half dollars in 1971. The bill also
authorized the coining of up to 150 million silver-clad coins for collectors that would be made similar to the half dollar produced from 1965-1969 which was two layers. The outer layers would be80% silver and 20% copper while the inner layer, or core, would be approximately 21% silver and
79% copper. Overall, it was a 40% silver mix. An amendment to the bill called for a portion of theprofits from these collector coins to be donated to Eisenhower College in Seneca Falls New York.
Despite receiving about $9 million dollars from this source, the college ultimately folded.

Continued on page 4

With the political issues now out of the way, Mint Director Mary Brooks wanted the new dollar in production quickly. Rather than going through a public design competition, the job was turned over to Mint Chief
Engraver Frank Gasparro. Gasparro already had two designs to his credit in production; the back of the Lincoln
Cent starting in 1959 and the reverse of the Kennedy Half Dollar. Later, he would also provide the designs forthe ill-fated Susan B. Anthony dollar. Anticipating the new coinage, Gasparro had already begun work on thedesigns. Even though the first “Ike” dollar was not coined until November 1971, the first designs had the date of1970. Although it is not clearly known why it took until late 1971 to release the new dollar, it has been speculated that there were numerous design deficiencies. For example, the relief was too high, and in fact, coins
struck for circulation that year are now known as Type I while proofs are of Type II which has a higher relief.
Additionally, the copper-nickel combination is a harder metal than the 90% silver composition which resulted
in poor strikes.
Not uncommon when a new coin/issue is released, collectors and the public hoarded a good portion ofwhat was released on that day and over the next few months. Over time, the new dollar reached the channels ofcommerce and then the issue that is still prevalent today revealed itself, which was that the American public did
not want to use a dollar coin. Since the new dollars were not often seen, casinos also had a hard time keeping
them on hand as people thought they were rare and kept them.
The year of 1975 saw a change to the design. Just like the quarter and half dollar, the dollar coin underwent a design change to commemorate the bicentennial. A nationwide contest was held and the winner wasDennis R. Williams. His design of a Liberty Bell superimposed on the moon was the winner. It is similar to thedesign on the reverse of the Franklin Half Dollar. No coins were dated 1975. Those produced in 1975 were ofthe bicentennial type. Beginning in 1977, the dollar coin went back to the traditional design. Due to the lack ofpublic acceptance, the IKE dollars were produced for the last time in 1978 making way for the ill-fated Susan B.
Anthony dollar.

Lost Dutchman Rare Coins
4983 N Franklin Rd. Indianapolis, IN(317) 545-7650
Your Local Full Service Coin Shop Since 1985

Specializing in Rare U.S. & World Coins.
Thinking of selling? WE PAY MORE!

Buying & Selling

US & World Coins, US Paper Money
Key Date Coins, Graded Coins, Complete Sets
Gold and Silver In All Forms
Military Collectibles

VISIT OUR WEBSITE TODAY!
http://www.ldrcoins.com

At the time of production I have not recieved a copy of thesecretaries report. It will be read and accepted at the meeting.
Matt