The world of rare coins is packed with mysteries and million-dollar treasures. But one story continues to capture collectors’ imaginations like no other: the elusive 1964-D Peace Dollar.
Although no confirmed examples have surfaced, many believe that if a 1964-D Peace Dollar is ever found, it could smash auction records — possibly even surpassing the jaw-dropping $18.9 million paid for the 1933 Double Eagle in 2021.
Let’s dive into the fascinating story behind the 1964-D Peace Dollar, why it’s so rare, and why the search is far from over.
Table of Contents
- Background: What Is the 1964-D Peace Dollar?
- Creation: Why It Was Minted
- Production: How Many Were Made
- Rumors: Did Any Survive?
- Why Was It Canceled?
- Could a 1964-D Peace Dollar Still Appear?
- FAQs About the 1964-D Peace Dollar
Background: What Is the 1964-D Peace Dollar?
The 1964-D Peace Dollar was intended to revive the iconic Peace Dollar design first minted between 1921 and 1935. Struck at the Denver Mint, this new silver dollar came during a time when America faced a serious coin shortage.
According to official government records, however, every single 1964-D Peace Dollar was destroyed before any could legally enter circulation. Yet, rumors have persisted for decades that a few coins may have survived — and could be worth millions today.
Creation: Why It Was Minted
In the early 1960s, the U.S. was grappling with rising silver prices and a shrinking supply of coins. Despite the financial risks, Treasury Secretary C. Douglas Dillon urged Congress to approve the minting of over 45 million new silver dollars.
The idea was controversial. Critics worried that collectors would hoard the coins, worsening the existing shortage. Still, Congress moved forward, authorizing production — though the effort didn’t last long.
Production: How Many Were Made?
Between May 13 and May 24, 1965, the Denver Mint produced 316,076 silver dollars. These were categorized as test coins and were never meant for public release.
Just one day after production ended, Congress repealed the law authorizing the coins. The Mint ordered all of them melted down. Importantly, the coins were destroyed by weight, not by individual count, leaving a small window for survival theories to grow.
Rumors: Did Any Survive?
Over the years, countless rumors have swirled:
- Some claim a few 1964-D Peace Dollars were smuggled out by mint workers.
- Others suggest that one might have ended up in a private presidential collection.
- No physical proof has ever emerged, but the mystery keeps collectors hopeful.
In 2013, PCGS (Professional Coin Grading Service) offered $10,000 just for the opportunity to authenticate one — but no one has stepped forward.
Why Was It Canceled?
Three major factors led to the abrupt cancellation of the 1964-D Peace Dollar:
- Collector Hoarding: Officials feared new coins would be snatched up immediately.
- Soaring Silver Prices: Minting silver dollars was becoming too expensive.
- Coin Shortage: The country needed smaller coins like dimes and quarters, not large dollar coins.
Ultimately, practicality — and economics — killed the project.
Could a 1964-D Peace Dollar Still Appear?
Could one still be out there, tucked away in a forgotten collection or hidden overseas? Some experts think it’s possible.
Because the coins are technically U.S. government property, even if a 1964-D Peace Dollar were found, owning it legally would be complicated. That hasn’t stopped treasure hunters from looking, though.
In 1972, a coin newsletter claimed that some collectors privately owned examples, and dealer Bob Cohen even advertised offering $3,000 per coin at the time. Despite the buzz, no verified specimens have ever surfaced.
If a genuine 1964-D Peace Dollar ever appears, it would rock the numismatic world — and likely break all auction records.
FAQs About the 1964-D Peace Dollar
What is the 1964-D Peace Dollar?
It’s a silver dollar that was produced in 1965 at the Denver Mint but officially ordered destroyed before public release.
Were any 1964-D Peace Dollars saved?
According to official records, no. However, rumors suggest a few might have survived destruction.
Why was the 1964-D Peace Dollar canceled?
Concerns over rising silver costs, a national coin shortage, and fears of hoarding led to its cancellation.
Has a 1964-D Peace Dollar ever been found?
To date, no authenticated example has been publicly confirmed.
Could a 1964-D Peace Dollar be legally owned?
Likely not. If one turned up, it would probably be considered government property, making private ownership illegal without special authorization.
Final Thoughts
The 1964-D Peace Dollar remains one of the greatest mysteries in American coin history. Whether any survived or not, the hunt for one captures everything that makes numismatics so thrilling — history, treasure, and the dream of making a once-in-a-lifetime discovery.