The 1974-S is the San Francisco 40% silver proof Eisenhower dollar, struck for collectors in a clad-silver alloy with about 0.316 troy oz of pure silver. That gives it a silver melt near $18 at a recent spot price around $59/oz. In typical proof grades (PR65–PR66) it runs about $15–$20, while a flawless PR69 can reach $200 and up. About 1.3 million were sold, so it is affordable but genuinely silver.
Don't confuse it with the common copper-nickel clad Ikes from circulation — only the S-mint 40% silver issues carry this silver content.
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Silver content and melt: Coinflation.
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