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In the world of rare coins, few stories match the intrigue of the 1964-D Peace Dollar. It’s a coin that was made, destroyed, and yet… maybe not entirely.

Even though not a single piece has been confirmed in public hands, collectors still dream about finding one.

Some even believe that if it ever surfaces, it could break the world record held by the 1933 Double Eagle, which sold for $18.9 million in 2021.

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Let’s look why this mysterious silver dollar is such a big deal and what makes it a legendary “ghost coin” among numismatists.

What Is the 1964-D Peace Dollar?

The 1964-D Peace Dollar was a silver coin produced at the Denver Mint to resemble the classic Peace Dollars made from 1921 to 1935. Unlike those earlier coins, this one was never supposed to enter circulation. Officially, every single piece was melted down before the public could get one.

Still, many collectors and experts believe a few escaped. If any genuine examples are ever found, they could be worth millions — possibly more than any coin ever sold before.

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Why Was It Made?

In the early 1960s, the U.S. faced a serious coin shortage. At the same time, silver prices were climbing. It wasn’t a great moment to bring back a big, heavy silver coin, but politics pushed the project forward.

Treasury Secretary C. Douglas Dillon asked Congress for approval to mint silver dollars. While initially set for 50 million coins, the final number was dropped to 45 million.

The Denver Mint was chosen to make them, and production began in May 1965. But controversy soon followed. Lawmakers and the public worried that collectors would hoard the coins, worsening the shortage of small change already affecting the country.

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Minting and Destruction

Between May 13 and May 24, 1965, the Denver Mint struck exactly 316,076 1964-D Peace Dollars. Then, just one day later, on May 25, Congress revoked the approval. The coins were never released and were said to be melted down.

Here’s the twist: they were only counted by weight — not one by one. That tiny detail has fueled speculation ever since. Could a few have slipped through? Could someone working at the Mint have quietly kept one?

Some rumors even suggested that President Lyndon Johnson may have owned one. Others claim a few coins were taken overseas, where U.S. seizure laws wouldn’t apply.

Are Any Still Out There?

To this day, no verified example has been seen by the public. In 2013, grading company PCGS offered $10,000 just to examine a genuine piece. No one came forward.

Back in 1973, coin dealer Bob Cohen even ran ads offering $3,000 per coin. He got zero real responses.

Still, stories circulate. Some believe the 7-year statute of limitations for illegal possession means one could have been quietly kept and hidden until it became “safe.” But if someone owns one now, it’s still technically illegal, making it risky to reveal.

Why Was It Canceled?

Three major reasons led to its shutdown:

• Collector Hoarding: Officials feared people would hold on to the coin rather than spend it, worsening the national coin shortage.
• Rising Silver Prices: With silver becoming more expensive, making large silver coins didn’t make financial sense.
• Need for Small Coins: The real shortage was in smaller denominations like dimes and nickels — not silver dollars.

Could One Appear Today?

It’s not impossible. Coin legends often have a way of resurfacing when no one expects. A coin hidden in another country, a miscount at the Mint, or even a private collector’s estate could bring the 1964-D Peace Dollar into the spotlight.

If one ever appears, it could cause legal issues — the U.S. government might seize it — but it could also become the most valuable coin in the world.

Until then, the 1964-D Peace Dollar remains one of the great mysteries of U.S. coin history — a ghost from the past that might still be out there, hiding in plain sight.

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