the legend of the 1964 dollar
Most experienced collectors have heard of the mythical 1964 peace dollar but little have heard the story of it so here it is. in the winter of 1963, the US Treasury asked Congress for funds to make 150 million new silver dollars. This made the coin collecting community rejoice until House Appropriations Committee killed all funds because of the ever-growing coin shortage. But three months later, the Senate passed a 6.24 billion dollar appropriations bill including a provision for some new silver dollars. By late January 1964, the conferees had compromised on 45 million silver dollar coins. (that is a lot!) President Lydon B. Johnson signed the legislation on August 3rd, 1964. The coins would use the original peace dollars design and they would be minted at the Denver Colorado mint. they would also be released at a few million each month. But quickly the massive and ever-growing coin shortage hit so hard it was hard to find coins not to mention the silver shortage coming in like a bullet. Before they were released 316,076 trial pieces were made and 76 of those were real pattern coins. So then the U.S mint destroyed all of the 1964 peace dollars and when they were first made also mint workers got to keep some but they were told they had to exchange them because they were going to be melted. The United States Mint Bureau has said all have been destroyed but there is a chance that some workers have kept theirs instead of returning them. That is what PCGS thing because they are offering a $10,000 reward to JUST SEE a 1964 peace dollar. Today for some reason it is illegal to own a 1964 dated dollar coin because it "belongs" to the government and will be most likely confiscated if found and announced. (image belongs to coinauctionshelp.com)Thank you for reading and hope you have a great week Walking Liberty
