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The Lincoln Wheat Penny Valued at $18.9 Million: The world of rare coins is filled with fascinating stories, but few are as mysterious as the 1964-D Peace Dollar. Even though no one has ever seen one in public, collectors across the globe continue to search for it. Some experts even believe it could beat the world record set by the 1933 Double Eagle coin, which sold for over $18.9 million in 2021.

Let’s dive into the story behind the 1964-D Peace Dollar, why it’s so rare, and what makes it such a hot topic in the numismatic world.

What Is the 1964-D Peace Dollar?

The 1964-D Peace Dollar was a U.S. silver dollar coin that was planned, minted, and then completely destroyed — or so the official story goes. It was meant to look like the older Peace Dollars that were made between 1921 and 1935. But unlike those coins, all of the 1964-D Peace Dollars were said to have been melted down before anyone could use or own them.

Despite this, rumors have always floated around that a few coins escaped destruction. Some believe that if one of these coins is ever found, it could become the most valuable coin in the world.

Why Was the Coin Created?

In the early 1960s, the U.S. was going through a major coin shortage. Silver prices were going up, and the government was trying to save both metal and money. In this situation, the decision to make a silver dollar coin didn’t make sense to many people — especially when the country needed smaller coins more urgently.

The U.S. Treasury, led by Secretary C. Douglas Dillon, asked Congress for funds to mint over 50 million silver dollars. The plan was reduced to 45 million coins, and all were to be made at the Denver Mint. However, many in Congress, the Mint, and even regular citizens opposed the idea. They felt collectors would hoard the coins and make the coin shortage worse.

Production and Destruction

Between May 13 and May 24, 1965, a total of 316,076 coins were minted. But the Mint claimed these were only test coins. On May 25, Congress changed its mind and canceled the law that allowed these coins to be struck. The Mint then said that all coins were melted down and never released — but they were only counted by weight, not by individual coin.

This has led to many theories. Some people believe that a few coins might have been swapped or saved quietly. There were even false rumors that some were part of U.S. President Lyndon Johnson’s private estate. Over the years, Denver Mint employees have said that they never got to buy the coins, though such buying rights had existed in earlier coin programs.

Are Any 1964-D Peace Dollars Still Around?

So far, no one has publicly shown a 1964-D Peace Dollar. But collectors and dealers still believe that a few might be out there. In fact, in 2013, PCGS (a major coin grading service) offered $10,000 just to authenticate one — but no one has claimed the prize.

Some experts believe if any of these coins survived, they may be hidden in another country. If that’s true, it would be harder for the U.S. government to seize them as they are still considered illegal to own in the United States.

Why the Coin Was Cancelled – Three Major Reasons

Collector Hoarding: Congress was worried that collectors would keep the coins instead of using them, making the coin shortage worse.

Silver Price & New Currency: The rising price of silver made it expensive to produce. Also, the U.S. was getting ready to release new Federal Reserve Notes (dollar bills), so coins were less necessary.

Nationwide Coin Shortage: The country needed small coins for everyday use, and a silver dollar didn’t help the situation.

Could One Show Up Today?

There’s always a chance that one of these coins might show up. In fact, a newsletter in 1972 claimed that some 1964-D Peace Dollars were in private hands — just in time to beat the 7-year legal limit for prosecution. Coin dealer Bob Cohen even placed an ad in 1973 offering $3,000 per coin but received no real leads.

The story of the 1964-D Peace Dollar is one of the greatest mysteries in the coin world. Whether or not any coins still exist, the tale remains a thrilling mix of history, politics, and collecting. If one ever appears, it could be worth millions, but it might also be seized by the U.S. government. For now, it remains a fascinating piece of hidden history — possibly waiting to be discovered.

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