The Big Sky Hoard, discovered in 2011, was a major modern numismatic find. Located in the basement vault of a Montana bank, the hoard held 223,000 Eisenhower dollars preserved in their original mint-sewn bags for more than three decades. The collection offered a unique snapshot of 20th-century American coinage, featuring both silver and clad Eisenhower dollars in uncirculated condition.
Discovery of the Big Sky Hoard
Unlike other significant coin hoards like the Saddle Ridge hoard or the Great Kentucky hoard, the Big Sky hoard was not buried. The hoard was found at the Federal Reserve Bank in Helena, Montana, where it had been stored in the 1970s. The coins were originally purchased directly from the Denver Mint by a family in Montana. Thanks to their early storage, they had avoided circulation entirely, ensuring their pristine condition.
The hoard was stored in 223 mint-sewn bags, with each bag holding 1,000 coins. Altogether, the hoard weighed a staggering 5.6 tons. After a coin dealer bought the hoard in 2011, the coins were transported to the East coast for evaluation and grading.
Breakdown of the Big Sky Hoard
The Big Sky Hoard included copper-nickel clad and 40% silver Eisenhower dollars, and both represented a unique aspect of the short-lived coin series (1971–1978).
Copper-Nickel Clad Eisenhower Dollars
- The majority of the hoard consisted of clad coins made of a copper-nickel alloy. These coins were intended for general circulation, although most of the hoard remained uncirculated.
- Notable issues include 1974, 1977, and 1978 Eisenhower dollars, with many graded as high as MS-65 and above.
- These coins are distinguished by their brilliant luster, sharp strikes, and the absence of wear from handling or circulation.
40% Silver Eisenhower Dollars
- A small but significant portion of the hoard included 40% silver Eisenhower dollars minted between 1971 and 1976.
- These were originally sold in special packaging, such as the “Blue Ikes” (in blue envelopes) and “Brown Ikes” (in brown boxes), to appeal to collectors rather than for general circulation.
- Key examples in the hoard include 1971-S and 1972-S Silver Eisenhower dollars, noted for their remarkable eye appeal and condition.
Bicentennial Eisenhower Dollars (1776–1976)
- The most iconic coins in the hoard were the Bicentennial Eisenhower dollars, struck with a unique double date and a special reverse design featuring the Liberty Bell and the moon.
- These coins were produced in both clad and 40% silver versions, with the latter being especially sought after by collectors.
- The hoard includes both Type I (bold lettering) and Type II (thin lettering) varieties of the Bicentennial dollars, adding to its numismatic appeal.
Historical Context and Significance
The Eisenhower dollar was introduced in 1971 to commemorate President Dwight D. Eisenhower’s legacy and the success of the Apollo 11 moon landing. Designed by Frank Gasparro, the Ike dollar featured a portrait of Eisenhower on the obverse and an eagle landing on the moon on the reverse for the Apollo mission.
While the silver versions were marketed directly to collectors, the copper-nickel clad coins were intended for circulation. However, their large size and weight limited their everyday use, relegating them primarily to casinos and collector markets.
Condition and Preservation
The Big Sky Hoard’s exceptional preservation is its defining feature. Stored in mint-sewn bags and untouched by the general population, the coins were spared the common wear and tear associated with Eisenhower dollars, especially those used in casinos.
Impact on the Coin Market
The Big Sky Hoard introduced a significant supply of high-quality Eisenhower dollars to the market, creating excitement among collectors. Coins from the hoard are often sold at a premium due to their provenance and condition, but their long-term investment potential remains uncertain.
Market Reaction
While the hoard revitalized interest in Eisenhower dollars, demand for these coins remains niche compared to more popular series like Morgan or Peace dollars. For collectors looking ahead, the accessible value of Eisenhower dollars may present a unique opportunity for coins that will appreciate in time.
Collector Appeal
The story behind the hoard, combined with the opportunity to own pristine examples of these coins, has drawn collectors who value their historical significance and the narrative of their discovery.
