1971-S $1 Silver, Peg Leg, FS-401 MS65 Certification #38517869, PCGS #148405

Charles Morgan

The 1971-S FS-401 "Peg Leg" Eisenhower Dollar

The 1971-S Eisenhower Dollar, "Peg Leg" FS-401 (#148405) is a well-known Cherrypickers Guide variety that has earned the nickname "Peg Leg" among specialist collectors. Numismatic researcher Rob Ezerman, in Collectible Ike Varieties, refers to the FS-401 specifically as the "Fading Peg Leg," distinguishing it from the non-FS-401 "Straight Peg Leg" varieties that frequently appear on 1971-S Proof issues (#932973).

Key Diagnostics and Die Markers

Identifying the FS-401 Fading Peg Leg is relatively simple, focusing primarily on the absence of serifs on specific letters of the reverse inscription:

The missing serifs are most easily observed on the base of the "E," the back leg of the "R," and the left arms of the "T" and "Y."

Furthermore, this variety involves two known dies. One die includes a Doubled Die Obverse (DDO), characterized by notching visible at the tips of the "U" of TRUST and the base of the "O" and "D" of GOD. The FS-401 die without the DDO is sometimes coupled with a Doubled Die Reverse.

Rarity and Valuation

While researcher estimates place the original mintage of the variety between 100,000 and 150,000 examples, current certified populations are quite low. However, certified totals for modern varieties can be deceptive, as submitters do not always ask for PCGS's variety attribution service.

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