The 1964-D Peace Dollar is one of the most enigmatic coins in U.S. numismatic history. Though it was authorized and briefly struck, none of these coins are known to exist today—legally, at least. This coin represents a fascinating mix of politics, economics, and intrigue, captivating collectors and historians alike.
A Coin Born from Controversy
The Peace Dollar, designed by Anthony de Francisci, was introduced in 1921 to commemorate the end of World War I. The series ended in 1935, but decades later, renewed interest in silver dollars sparked the possibility of reviving the coin. In 1964, Congress authorized the production of 45 million new silver dollars. The Denver Mint was tasked with striking the coins, which would carry the iconic Peace Dollar design.
This decision was controversial for several reasons. The U.S. Treasury had recently stopped issuing silver certificates, and the nation was phasing out silver coinage. Minting a new silver dollar seemed counterproductive. Additionally, silver prices were rising, creating concerns that the coins might be hoarded or melted down for profit.
Production and Destruction
In May 1965, the Denver Mint reportedly struck approximately 316,076 1964-D Peace Dollars. However, due to public outcry and political pressure, the program was abruptly canceled. The coins were never released into circulation, and all examples were ordered to be melted down. Official records indicate that every last coin was accounted for and destroyed.
Yet rumors persist that a few examples escaped destruction. Stories of Mint employees pocketing a handful of coins or high-level officials retaining specimens for “posterity” have fueled speculation for decades.
The Legal and Collecting Implications
Under U.S. law, it is illegal to own a 1964-D Peace Dollar. Even if one were discovered, it could not be sold, as the Treasury Department would likely seize it as government property. This has not stopped collectors from dreaming about the possibility of finding one.
Despite the legal risks, whispers of private sales and shadowy transactions occasionally emerge, claiming that a 1964-D Peace Dollar has changed hands. However, no verified example has ever surfaced publicly, and numismatic authorities remain skeptical.
The Legacy of the 1964-D Peace Dollar
The mystery of the 1964-D Peace Dollar has cemented its place in numismatic lore. It serves as a reminder of the complexities of coin production and the intersection of politics and economics in U.S. history. The coin also highlights the allure of the unattainable—few things are more fascinating to collectors than a coin that officially doesn’t exist.
For numismatists, the 1964-D Peace Dollar represents a tantalizing mystery. Will an example ever surface? And if it does, what will its fate be? While these questions remain unanswered, the 1964-D Peace Dollar continues to captivate the imagination of the coin-collecting world.
FAQs
How many 1964-D Peace Dollars were struck?
Approximately 316,076 were struck at the Denver Mint before the program was canceled, and all were reportedly melted down.
Is it legal to own a 1964-D Peace Dollar?
No. Under U.S. law, any surviving 1964-D Peace Dollars are considered government property and cannot be privately owned.
Why was the 1964-D Peace Dollar never released?
Rising silver prices and public outcry over its production led to the cancellation of the program and the destruction of the coins.