1964-D Peace Dollar (Denver Mint Strikes) Value & Price Guide

In 1964, the United States Mint was authorized to resume production of silver dollars for the first time since 1935. The Denver Mint reportedly struck 316,076 Peace Dollars dated 1964-D before the entire run was ordered melted. Officially, none survived. Unofficially, rumors have persisted for six decades that a handful escaped the melting pot. If a genuine 1964-D Peace Dollar were ever authenticated, it would be one of the most valuable coins in American history.

Quick Value Summary

The Story

By 1964, a nationwide coin shortage had Congress looking for solutions. Senator Mike Mansfield of Montana, a state with significant silver mining interests, pushed for resumption of silver dollar production. On August 3, 1964, President Lyndon Johnson signed legislation authorizing the Mint to produce up to 45 million silver dollars.

The Denver Mint began trial production in May 1965 using updated Peace Dollar dies dated 1964. The "D" mintmark distinguished these from any Philadelphia production. Between May 12 and May 24, 1965, the Denver Mint struck 316,076 dollars. But the political and economic landscape had shifted. Silver prices were rising, making silver dollars worth more as metal than as currency. The Treasury Department realized that minting silver dollars would drain the nation's silver reserves for coins that would be immediately hoarded.

On May 24, 1965, Mint Director Eva Adams ordered all 316,076 coins melted. The official position has remained consistent ever since: every single coin was destroyed. The melting was supervised, documented, and accounted for.

The Rumors

Despite the official account, persistent rumors suggest some coins escaped:

• Mint employee stories: Anecdotal reports from Denver Mint workers who claimed to have seen, handled, or even pocketed specimens before the melt order arrived.

• Collector networks: Stories have circulated in numismatic circles for decades about coins being offered for sale privately.

• Die trials and test strikes: Some argue that pre-production test pieces could have been separated from the main production run.

No 1964-D Peace Dollar has ever been submitted to PCGS, NGC, or any major grading service. No authenticated example has appeared at auction. No photograph of a confirmed specimen has been published.

Legal Questions

Ownership of a 1964-D Peace Dollar, if one exists, would face immediate legal challenge:

• Government property: The Mint has maintained that all 316,076 coins are government property and were ordered destroyed. Any surviving example would theoretically be stolen government property.

• Precedent: The 1933 Saint-Gaudens Double Eagle case established that coins officially ordered destroyed can be reclaimed by the government. The one legally held 1933 Double Eagle was granted an exemption through specific legal proceedings.

• Practical reality: If someone presented a 1964-D Peace Dollar, they would likely face legal scrutiny. The coin could potentially be seized by the Secret Service as illegally obtained government property.

How to Identify It (Theoretically)

• Obverse: Peace Dollar design by Anthony de Francisci. Liberty in profile facing left, wearing a radiant crown. "LIBERTY" above, "IN GOD WE TRUST" below, "1964" at the base.

• Reverse: Bald eagle perched on olive branch, with rays of sunlight behind. "UNITED STATES OF AMERICA," "E PLURIBUS UNUM," and "ONE DOLLAR."

• Mintmark: "D" on the reverse, below "ONE" and above the eagle's tail feathers.

• Diameter: 38.1mm

• Weight: 26.73 grams

• Composition: 90% silver, 10% copper

• Edge: Reeded

The design would be identical to the 1934-1935 Peace Dollars but with the 1964 date. The Denver Mint would have used freshly prepared dies.

Why Collectors Care

Even as a ghost coin, the 1964-D Peace Dollar captivates collectors because:

1. It represents the last gasp of the silver dollar era. After 1964, the Mint moved to clad coinage. Silver dollars wouldn't return until the Eisenhower Dollar (silver collector versions) and the modern American Silver Eagle.
2. The mintage was large enough to be "real." These weren't pattern coins or die trials. Over 316,000 were struck for circulation. The entire production was then deliberately destroyed.
3. It represents institutional secrecy. The possibility that a government agency destroyed 316,076 coins and maintained perfect control is both impressive and inherently doubtful to some observers.
4. The value would be extraordinary. If authenticated and legally cleared, a 1964-D Peace Dollar would likely sell for $5 million to $10 million based on comparable numismatic rarities.

What Collectors Can Buy

While the 1964-D remains elusive, related items are available:

Authentication Warning

Be extremely skeptical of any coin offered as a 1964-D Peace Dollar:

• No confirmed examples exist. Anyone selling one bears an extraordinary burden of proof.

• Altered date scams: A 1934-D Peace Dollar can be altered to read 1964 by adding a "6" over the "3." This is the most common fraud attempt.

• Cast copies: Fantasy pieces struck from unofficial dies are known to exist. These have no numismatic value.

• If you encounter one: Do not buy it without first contacting PCGS or NGC for authentication. Be prepared for legal complications.

Have questions about a Peace Dollar? Upload a photo to Curio Comp for identification.

Explore More

The 1964-D Peace Dollar remains one of the great numismatic mysteries. Until one is authenticated, it lives in the space between history and legend.

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