The world of rare coins is full of surprises, but few stories stir the imagination quite like the mystery of the 1964-D Peace Dollar—a coin so elusive that some collectors believe it could one day fetch more than the staggering $18.9 million paid for the 1933 Double Eagle in 2021.
Though no verified examples have ever surfaced, rumors persist that one of these ultra-rare coins might still be out there. Could it become the most valuable U.S. coin in history?
In this article, we’ll uncover the story of the 1964-D Peace Dollar—how it came to be, why it was destroyed, and why collectors are still hunting for it today.
What Is the 1964-D Peace Dollar?
The 1964-D Peace Dollar was designed to revive the beloved Peace Dollar series, which had been minted between 1921 and 1935. Struck at the Denver Mint, these silver dollars were intended to help ease a nationwide coin shortage during the 1960s.
However, before any could legally enter circulation, the U.S. Mint reportedly destroyed every single one. And yet, whispers of survivors continue to circulate among collectors.
Why Was the 1964-D Peace Dollar Created?
In the early 1960s, the United States faced rising silver prices and a growing shortage of coins. Treasury Secretary C. Douglas Dillon urged Congress to authorize the production of new silver dollars—sparking the return of the Peace Dollar design.
Though controversial due to fears of hoarding and silver shortages, the initiative went ahead briefly.
How Many Were Produced?
From May 13 to May 24, 1965, the Denver Mint struck 316,076 silver dollars, categorized as test strikes. But the project was short-lived. Just one day after production ended, Congress repealed the law authorizing these coins.
All coins were supposedly melted down—not counted, but destroyed by weight. This left a gap for theories and rumors to grow.
The Rumors: Could Any Have Survived?
Despite official records claiming total destruction, rumors suggest otherwise:
- Some believe mint workers may have smuggled out a few coins.
- Others claim a specimen could reside in a secretive private or government collection.
- In 2013, PCGS offered $10,000 just to examine a possible example—yet no one came forward.
The legend lives on, fueling speculation and curiosity.
Why Was It Cancelled?
Several key factors led to the abrupt halt of the 1964-D Peace Dollar project:
- Hoarding Fears: Officials worried collectors would remove them from circulation.
- Rising Silver Costs: It became uneconomical to mint large silver coins.
- Coin Shortage: The need for smaller denominations, not dollar coins, was more urgent.
Ultimately, economic pressures and practicality killed the coin’s brief comeback.
Could One Still Be Out There?
It’s entirely possible.
Some experts believe that a 1964-D Peace Dollar could still be hiding in a forgotten estate collection or tucked away in a private stash. However, even if one were found, legal ownership would be tricky—since it’s technically U.S. government property, private individuals may not legally retain it without special approval.
Still, that hasn’t stopped the treasure hunt.
A Coin That Could Break Records
If a verified 1964-D Peace Dollar were ever found and made available to the public, it could shatter all existing records—potentially becoming the most valuable coin ever sold.
In fact, in the early 1970s, some dealers reportedly offered thousands of dollars for any potential examples, even without confirmation of their authenticity.
FAQs About the 1964-D Peace Dollar
What is the 1964-D Peace Dollar?
A silver dollar struck at the Denver Mint in 1965, intended to revive the Peace Dollar series but never officially released.
Were any saved?
Officially, no. But rumors suggest a few may have escaped destruction.
Why was it canceled?
Concerns over silver prices, coin shortages, and hoarding fears led to the project’s abrupt end.
Has one ever been found?
No authenticated example has ever been confirmed.
Can it be owned legally?
Likely not. If found, it would probably be considered U.S. government property.
Final Thoughts
The 1964-D Peace Dollar is one of American numismatics’ greatest unsolved mysteries. Whether or not one still exists, the search for it encapsulates everything that makes coin collecting thrilling—history, intrigue, and the dream of striking it rich.
For collectors, the hope of uncovering a one-of-a-kind treasure keeps the excitement alive. And who knows? The next great coin discovery could be sitting quietly in someone’s forgotten drawer, just waiting to change history.