The 2011-P Rutherford B. Hayes Dollar is worth anywhere from $1.05 in circulated condition to over $150 in high-grade mint state. While most coins found in your change are only worth their face value, certain high-quality specimens or those with specific minting errors can command a premium from collectors.
| Condition | Estimated Value |
|---|---|
| Circulated / Pocket Change | $1.00 – $1.25 |
| Uncirculated (MS60-MS63) | $2.00 – $5.00 |
| Choice Mint State (MS65+) | $10.00 – $45.00 |
| Gem Quality (MS67+) | $150.00 – $300.00+ |
History of the 2011-P R.B. Hayes Presidential Dollar
The Rutherford B. Hayes dollar was the 19th release in the United States Mint’s Presidential Dollar Coin Program. This series, which began in 2007, was designed to honor each U.S. President in the order they served. By the time 2011 arrived, the public interest in these golden-colored coins had waned significantly. Because of low circulation demand, millions of these coins ended up sitting in Federal Reserve vaults.
If you are unsure whether the coin you found is part of this specific series, using the best coin identifier app can help you confirm the date and mint mark instantly. The “P” mint mark on this coin indicates it was produced at the Philadelphia Mint. Unlike older American coins where the mint mark is on the face, the Presidential series features the mint mark, year, and the motto “E Pluribus Unum” on the edge of the coin.
This artistic choice allowed for larger portraits on the obverse (front) and a more detailed Statue of Liberty on the reverse (back). However, the edge lettering also created opportunities for unique minting errors. If you find a Hayes dollar with missing or doubled edge lettering, you might be looking at a significant windfall. Most collectors use CoinHix to track these rare varieties and keep up with market trends.
Understanding the Value of Mint State 2011-P Hayes Dollars
When determining the 2011-P R.B. Hayes dollar coin value, the most important factor is the grade. Most coins you find in a vending machine or a piggy bank are “circulated,” meaning they have scratches, oils from fingers, and visible wear. These are generally only worth $1. However, if you have a coin that looks brand new, it might be an “Uncirculated” or “Mint State” (MS) specimen.
Professional grading services like PCGS or NGC use a scale from 1 to 70. A 2011-P Hayes dollar graded at MS65 is considered “Gem Bu,” while an MS67 or MS68 is exceptionally rare. Because the Philadelphia mint produced over 36 million of these, only those in the top 1% of condition carry high price tags. Knowing the current market value for high-grade 2011 dollar coins is essential before deciding to pay for professional grading.
| Grade (Numeric) | Descriptive Grade | Market Price |
|---|---|---|
| MS63 | Uncirculated | $3.50 |
| MS65 | Choice Uncirculated | $12.00 |
| MS66 | Very Choice Uncirculated | $35.00 |
| MS67 | Superb Gem | $165.00+ |
Key Identifying Features of the R.B. Hayes Dollar
To ensure you have the right coin, look at the portrait on the front. It features Rutherford B. Hayes, who was the 19th President of the United States. Below his bust, it should say “19th PRESIDENT” and “1877-1881,” which were his years in office. The 2011 date is not visible on the face; you must rotate the coin and look at the smooth edge to find the “2011 P” inscription.
The reverse of the coin features a striking image of the Statue of Liberty. This design was created by Don Everhart and was used consistently throughout the Presidential Dollar series. It is often confused with the Sacagawea dollar, which also has a golden appearance but features a Native American woman on the front. Generally, the 2011 Native American dollar worth and pricing follows a similar trend to the Hayes dollar, though mintages vary.
The composition of the coin is a copper core with a manganese-brass cladding. This is what gives it the gold color. However, these coins do not contain any real gold. If your coin looks very dark or “rusty,” it is simply the copper reacting to oxygen, often referred to as toning or oxidation. This usually decreases the value unless the toning is an attractive rainbow color.
Collecting the 2011-P Hayes Dollar: What to Look For
If you are a casual collector or someone who just stumbled upon this coin, you might wonder if it’s worth keeping. For most people, a single Hayes dollar found in change is a great educational piece but not a financial investment. However, if you find a “Roll” of these coins (usually 25 coins in a paper wrapper) that has never been opened, the value increases.
Collectors often look for “Position A” or “Position B” edge lettering. This refers to the orientation of the writing on the edge relative to the portrait. In Position A, the edge lettering is upside down when the portrait is facing up. In Position B, it is right-side up. Neither is particularly rare for the 2011-P Hayes, but some completionist collectors seek both for their sets.
If you are using CoinHix, you can photograph the edge of your coin to see if there are any recognized errors. Error coins, such as those with “Weak Edge Lettering” or “Stray Hub Doubling,” can sell for $50 to $100 even in modest conditions. Always handle your coins by the edges to avoid leaving fingerprints, which can corrode the brass surface over time and ruin the potential value.
The Rarity of 2011 Presidential Dollars
In late 2011, the U.S. Treasury Department made a significant decision. Because there were nearly 1.4 billion $1 coins sitting unused in vaults, they suspended the production of Presidential Dollars for general circulation. This means that the Hayes, Garfield, and Grant dollars were among the last to be released to banks for everyday use.
From 2012 onwards (starting with Chester A. Arthur), the coins were only produced for collectors in limited quantities and sold at a premium directly from the Mint. Because the 2011 coins like the Hayes dollar were at the tail end of the “circulation” era, they are slightly harder to find in your change than the 2007 Washington or 2000 Sacagawea dollars. This scarcity doesn’t make them “rare” in the traditional sense, but it makes a high-quality 2011-P Hayes dollar a respectable find.
| Mint Location | Mintage (Total Produced) | Rarity Level |
|---|---|---|
| Philadelphia (P) | 36,820,000 | Common |
| Denver (D) | 37,520,000 | Common |
| San Francisco (S – Proof) | 1,972,863 | Uncommon |
How to Sell Your 2011-P Hayes Dollar
If you believe you have a high-value version of this coin, selling it involves a few steps. For coins worth only $1-$5, your local coin shop might not be interested as the profit margin is too low. In this case, keeping it or spending it is usually the best bet. However, if CoinHix suggests your coin might be a high mint-state grade or an error, you should consider professional authentication.
Selling on platforms like eBay can be successful for “raw” (ungraded) coins if you take high-quality, clear photos showing both sides and the edge. If the coin is professionally graded by PCGS or NGC, it becomes much easier to sell at auction for its full market value. Always compare recent “Sold” listings rather than “Asking” prices to get a realistic idea of what people are actually paying.
FAQ
Q: Is the 2011-P Rutherford B. Hayes dollar made of real gold?
A: No, the coin contains zero gold. Its “golden” color comes from a mixture of 77% copper, 12% zinc, 7% manganese, and 4% nickel. It is often called a “golden dollar” only because of its appearance.
Q: Where is the mint mark on the 2011 Hayes dollar?
A: The mint mark (the letter “P” or “D”) is located on the edge of the coin, along with the year and the words “E Pluribus Unum.” This is different from most other U.S. coins where the mint mark is on the face.
Q: What is the most expensive 2011-P Hayes dollar ever sold?
A: While most sell for a few dollars, a 2011-P Rutherford B. Hayes dollar graded PCGS MS68 once sold at auction for over $400. In such high grades, the coin must be nearly flawless with no visible scratches even under magnification.
Q: I found a Hayes dollar with no writing on the edge. Is it valuable?
A: Yes! This is known as a “Smooth Edge” error. If the edge of the coin is completely smooth and missing the date and mint mark, it could be worth between $50 and $150 depending on its condition. However, ensure the edge hasn’t just been worn down by sandpaper or heavy circulation.
Q: Can I still spend this coin at a store?
A: Absolutely. The 2011-P R.B. Hayes dollar is legal tender and is worth exactly one dollar at any business or bank in the United States. If it is heavily worn, spending it is usually the most practical choice.
