The 1964-D Peace Dollar is one of the most fascinating stories in the world of rare coins. This silver dollar, rumored to exist but never officially seen, has captured the attention of coin collectors worldwide. Some believe that if found, it could break records, possibly surpassing the $18.9 million sale of the 1933 Double Eagle in 2021. Let’s dive into the history, mystery, and allure of this legendary coin.
What Is the 1964-D Peace Dollar?
The 1964-D Peace Dollar was a silver dollar minted at the Denver Mint in 1965. It was designed to resemble the Peace Dollars produced from 1921 to 1935. However, official records state that all these coins were melted before they could enter circulation, making them a numismatic mystery.
Why Was It Created?
In the early 1960s, the United States faced a coin shortage. The price of silver was rising, and the government wanted to create new silver dollars to address the issue. Under the direction of Treasury Secretary C. Douglas Dillon, Congress approved minting 45 million silver dollars at the Denver Mint.
How Many Were Made?
Between May 13 and May 24, 1965, the Denver Mint produced 316,076 test coins. These were never meant for public use and were ordered to be destroyed the day after production ended, on May 25, 1965.
Why Was Production Stopped?
The plan to release these coins was halted for three main reasons:
1. Fear of Collector Hoarding
Many worried that coin collectors would hoard the new silver dollars, reducing the number of coins available for everyday transactions.
2. Rising Silver Prices
The cost of silver was increasing rapidly, making it expensive for the government to produce these coins.
3. Demand for Smaller Coins
At the time, the public needed smaller coins, like quarters and dimes, more than large dollar coins.
The Mystery Begins: Did Any Coins Survive?
Although official records say all 1964-D Peace Dollars were melted, rumors suggest some may have survived. The coins were destroyed by weight, not by count, leaving room for speculation that a few escaped. This possibility has fueled decades of excitement among collectors.
Rumors and Stories
Over the years, tales have surfaced about surviving coins:
- Some claim Mint workers hid a few coins.
- Others believe a coin ended up in a private collection, possibly even a president’s.
- In 1972, a newsletter hinted that private collectors might own some coins.
- In 2013, the Professional Coin Grading Service (PCGS) offered a $10,000 reward for proof of a genuine 1964-D Peace Dollar, but no one has claimed it.
Could Coins Be Overseas?
Some experts think a few coins might have been smuggled abroad. If true, recovering them would be difficult, and finding one could bring immense wealth to the discoverer.
Why Collectors Are Obsessed
The 1964-D Peace Dollar represents a thrilling mix of history, mystery, and the dream of striking it rich. Its story combines politics, economics, and the passion of coin enthusiasts. The idea that a single coin could be worth millions keeps collectors searching.
A Record-Breaking Potential
If a genuine 1964-D Peace Dollar is ever found, it could shake the coin-collecting world. Experts believe it might fetch more than the $18.9 million record set by the 1933 Double Eagle.
Are There Any 1964-D Peace Dollars Out There?
No confirmed 1964-D Peace Dollar has ever surfaced. However, the lack of solid evidence hasn’t stopped collectors from hoping. Some believe coins are hidden in private collections or even overseas, waiting to be discovered.
Past Attempts to Find It
In the 1970s, coin dealer Bob Cohen offered $3,000 per coin, but no one came forward with proof. The PCGS reward in 2013 also went unclaimed. Still, the hunt continues.
Conclusion
The 1964-D Peace Dollar remains one of the greatest mysteries in coin collecting. Whether it exists or not, its story is a captivating blend of history, economics, and human curiosity. If a genuine coin is ever found, it could become the most valuable coin in the world, making it a dream worth chasing for collectors everywhere.
FAQs
What is the 1964-D Peace Dollar?
It’s a silver dollar minted in 1965 at the Denver Mint but ordered to be destroyed before entering circulation.
Why was it made?
The coin was created to address a coin shortage in the 1960s, but rising silver costs and other issues stopped the plan.
How many were produced?
The Denver Mint made 316,076 coins between May 13 and May 24, 1965, all of which were meant to be melted.
Is the 1964-D Peace Dollar still out there?
No confirmed coins have been found, but rumors suggest some may exist, possibly in private collections or abroad.
