1964-D Peace Dollar

The 1964-D Peace Dollar was struck in 1965 and is part of the Peace Dollar series.

Specifications

 * Designer: Anthony De Francisci
 * Obverse Design: Lady Liberty
 * Reverse Design: A perched Bald Eagle
 * Edge: Reeded
 * Weight: 26.7 grams
 * Diameter: 38.5 millimeters
 * Composition:  Silver (90%), Copper (10%)
 * Dates Minted: 1965
 * Mintage: 316,000

History
Truly one of the great puzzles and mysteries of the coin universe. But didn’t the Peace dollar series end in 1935, some 30 years earlier? Yes. But just as the Susan B. Antony dollar was revived in 1999 after being defunct for about 20 years, Congress authorized the revival of the Peace type silver dollar in 1964! President Lyndon B. Johnson signed the bill into law, and it was official. The Denver mint began production. True, it didn’t begin production until early 1965— some legislative technicalities had to be taken care of. And because there was supposed to be a freeze on the striking of silver coins by 1965, the newly-struck Peace dollars were all to bear the 1964 date.

There was actually a pretty healthy number of 1964-D Peace dollars struck ---as I said before, around 316,000 were struck! By all accounts, they were struck with the exact same design as the 1921-35 Peace dollar, with only the date being different. But… at the same time, it became more and more apparent to Congress and Lyndon B. Johnson that the United States silver shortage was worse than even thought. Knowing this, they could in no way justify the striking of all these new silver dollars. The order went out for the newly-struck 1964 silver dollars to be melted! It was to be as if they never existed! And to this day, not a single one has surfaced!

There have been claims over the year, by individuals, who swear they have either owned one, or knew of those that did. Coin dealers, who knew of the 1964-D Peace dollars being struck, offered $7.50 for any 1964 Peace dollar— a paltry amount these days, but a pretty healthy amount in 1965 for a new, modern coin. As far as anyone knows, nobody ever collected $7.50 or whatever amount any dealer offered.

So why were the 1964-D Peace silver dollars struck in the first place? It’s a long story, but basically, in 1964, the government silver dollar supply had been depleted. Since the early 1900’s, huge stockpiles of Morgan and Peace dollars had been doled out to coin dealers and to casinos, since the general populace didn't really use the silver dollar for everyday purchases. As you might imagine, lobbyists from the western states were pushing hard for new silver dollars to be minted, as they claimed they were much needed in commerce out there.

Why then, do many experts believe there MUST be 1964-D Peace dollars still out there… SOMEwhere? First, there is the notion that insiders know that such a coin will become a much-wanted item on the market and will find SOME way to sneak it out of the mint. Second, is the “friends-in-high-places” theory, namely, that mint officials or government officials historically, have had a way of getting their hands on such coin rarities for themselves or doling them out to high-powered friends as gifts.

Some might contend that this could not have happened. Such shenanigans might have worked in the less-tightly controlled mint operations of the 1800’s or early 1900’s, but not in the F.B.I-era United States of the 1960's. If there were 316,000 1964-D dollars were minted, the mint powers-that-be would see to it that EXACTLY 316,000 Peace dollars were melted!

True. But, ah, here’s the loophole! A tricky individual might substitute his/her worn, souvenir 1922 Peace dollar amongst the numbers to be melted, and sneak out a 1964 dollar for himself or herself! Possible? Maybe.

So take another look at your Peace silver dollars. If you have a 1964-dated one, you’ve hit the jackpot! That is, IF the U.S. government allows you to keep it. If not, at least you can say you once owned a piece of history-- and probably, you'll wind up with your mug on the cover of a national magazine or two!