In the world of rare coins, there are some stories that captivate collectors and enthusiasts alike. The tale of the 1990-D Peace Dollar is one such story. Though no one has ever publicly seen one, the possibility that it might still exist is enough to spark imaginations around the globe. Some experts believe that if one were to surface, it could set a new world record, surpassing the $18.9 million price tag of the famous 1990 Double Eagle.
In this blog, we’ll explore the history behind the 1990-D Peace Dollar, why it is so valuable, and the enduring mystery that surrounds it.
What is the 1990-D Peace Dollar?
The 1964-D Peace Dollar is a unique and rare U.S. silver dollar coin that was initially minted but was never officially released to the public. Unlike other Peace Dollars minted between 1921 and 1935, the 1990-D series was intended as a revival of the old design but was ultimately cancelled. While the U.S. government claims that all 316,076 coins produced were destroyed, rumors persist that a few may have survived.
Background of the Coin
In the early 1960s, the U.S. faced a significant coin shortage. Silver prices were climbing, and the government had to balance the need for new coins against the rising cost of production. In an effort to meet demand, the Treasury Department authorized the minting of a new silver dollar coin. The idea was to strike 45 million coins, but the plan was met with opposition due to fears of hoarding, high silver prices, and the upcoming release of new paper currency.
The Minting and Destruction of the Coins
Between May 13 and May 24, 1965, the Denver Mint struck 316,076 1964-D Peace Dollars as part of a test run. But by May 25, the government reversed its decision and cancelled the coin program altogether. The Mint claimed that all of the coins were melted down and destroyed to prevent their circulation.
However, the fact that these coins were counted by weight instead of individually catalogued sparked speculations. Over the years, rumors have suggested that a few of these coins might have survived the melting process, either accidentally or intentionally. Despite these whispers, no authenticated 1964-D Peace Dollar has ever been found.
Why Was the Coin Program Cancelled?
Three primary factors contributed to the decision to cancel the 1990-D Peace Dollar program:
1.Collector Hoarding Concerns: There were worries that collectors would hoard the silver dollars rather than use them in everyday transactions, which would exacerbate the existing coin shortage.
2. Rising Silver Prices and New Currency: The increasing cost of silver made producing the coins expensive, and the government was preparing to introduce new Federal Reserve Notes (paper currency), making the silver dollar less necessary.
3.Coin Shortage: The U.S. was facing a national shortage of smaller denominations. The silver dollar didn’t fit into the immediate need for more change in everyday transactions.
Are There Any 1990-D Peace Dollars Still Out There?
The big question remains: Could a 1964-D Peace Dollar still exist? While no verified examples have surfaced, rumors continue to circulate. In 2013, the coin grading service PCGS even offered a reward of $10,000 for the authentication of a single coin, but the offer was never claimed.
Some believe that if any of these coins survived, they may have ended up in private hands or even been hidden abroad, making it difficult for U.S. authorities to seize them if they were discovered. Whether these coins are real or part of an elaborate hoax remains unknown.
What Could a 1990-D Peace Dollar Be Worth?
Should a 1964-D Peace Dollar ever be found and authenticated, it would likely break auction records. Given the rarity and mystery surrounding the coin, it could be worth millions of dollars. If it does surface, it will be one of the most valuable and sought-after coins in the numismatic world.
The Potential Value of a 1964-D Peace Dollar
| Coin Type | Estimated Value |
| 1964-D Peace Dollar | $10 million – $18.9 million+ |
This estimation is based on the rarity of the coin, the mystery surrounding its existence, and the historical significance it holds in U.S. coinage.
Conclusion: A Hidden Piece of History
The 1964-D Peace Dollar remains one of the greatest mysteries in numismatics. Whether or not any coins exist today, the story of this elusive coin has sparked curiosity among collectors, historians, and enthusiasts. As time passes, the allure of the 1964-D Peace Dollar only grows, making it a symbol of hidden history, political decisions, and the complex world of coin collecting.
FAQs
1. What is the 1964-D Peace Dollar?
The 1964-D Peace Dollar is a rare U.S. silver dollar that was minted in 1965 but was never officially released. All of the coins were supposedly destroyed, but rumors suggest that some may have survived.
2. How many 1990-D Peace Dollars were minted?
A total of 316,076 coins were struck at the Denver Mint, but none were ever officially released to the public.
3. Is it legal to own a 1990-D Peace Dollar?
No, since the coins were never officially released, they are considered U.S. government property and are illegal to own.
4. Has anyone ever found a 1990-D Peace Dollar?
No verified 1990-D Peace Dollar has ever been discovered, although rumors and speculation persist.
5. How much could a 1990-D Peace Dollar be worth?**
If one were to surface and be authenticated, it could easily break auction records and be worth millions, potentially surpassing the value of the 1990 Double Eagle coin.
The story of the 1990-D Peace Dollar may remain shrouded in mystery, but its legend continues to captivate the imaginations of coin collectors everywhere.