1964-D Peace Dollar...What Could Have Been?

I have often wondered what the collectible status of the 1964-D Peace Dollar would be had they been released for circulation. Here are my thoughts on it...what do you think?

First off, the planned mintage was to be 45 million...but only 316,076 were struck. Assuming they halted production at that point and just released them it would have been the lowest mintage of the series. It also would have been the lowest minted 1964 dated coin.

With the ending of 90% silver coinage with coins dated 1964 and the presumed novelty of a new silver dollar...one would have thought that a large number would have been saved in high grade. So, despite the low mintage...a large percentage would probably survive.

In my opinion, the coin would be popular amongst collectors due to it being the "final silver dollar" and part of the popular Peace design. Had the full 45 million been minted, I think it would be regarded much like the 1921 Morgans. However, with a mintage of only 316,076...it would probably have quite the collector following. But withe likelihood of so many being saved, I doubt it would command extremely high prices due to the number saved.

Your thoughts?

 

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I imagine that there would be many in highest grades, which would likely be the only ones to command decent prices.

 

I think it would be a "must have" coin for many collectors and even some non-collectors. TC

 

There is no answer to this thread. Wait, every answer ever thought of could answer this thread also. Guess I'm going to have to say the answer is 42

 

At 300,000 it would still command a premium in low grades, because around 1982 when silver was $80 an ounce, many good silver coins were sold for melt, and again not too many years ago when silver was $40+ an ounce.
So maybe only half of those coins would still be around driving the price higher.

 

If the Mint was going to release the coins, it would not have halted production at 316,000+ pieces simply because the Mint was already well aware that it would have created a collector rarity which would have been hoarded by collectors. The pieces never would have circulated and this was a concern of the Mint's. In fact, it is one of the reasons that the pieces were never issued. Concerned about the hoarding of silver coinage, Congress instituted a date freeze and 1964 dated silver coins continued to be produced well after 1964 to discourage hoarding. If I recall correctly, production of U.S. silver coinage dated 1964 continued into 1966.

 

It's fun to think about. Don't take it too seriously

 

If it helps, if production had halted as in your hypothetical, the mintage would have been close to the 1928 Philadelphia issue and would likely have a similar following. If the Mint did complete the full mintage of 45,000,000 (which would almost certainly have happened if released), the rarity would be similar to that of the 1922/1923 Philadelphia issues. Demand, is a different story. While we will never know, in anticipation of the release, dealers offered pre-release offerings at $7.50 per coin for a BU example.

 

Pcgs is still looking for one and will pay some good bucks for it ...
http://www.pcgs.com/top100/reward.aspx

 

I think it would have been collected/hoarded just like the Kennedy Half.

 

I think it would be similar to the 1857 Large Cent. Relatively low mintage and readily available due to being the last of a series. I would bet the pricing would be similar as well based on mintage rather than availability.

 

One thing that becomes readily apparent here - the government in 1964-66 cared about people hoarding coins because they were precious metal. Now the government could care less if you hoard clad coin because it just has a token value that is significantly less in the case of the dime, quarter which make up most of the value of the actually circulating coins(cents are usually a few uses then get jarred somewhere coin).

 

One thing I am not clear one: Why suddenly in 1964 was there the need to mint silver dollars after a 29 year hiatus?

 

They'ed be freaks. Nothing more. They'd be like the ASEs, although those are different reverses, which, in itself, is at least some recommendation for them. But they couldn't match the quality of the old ones, just as the "fantasy" ones can't do that, as those old dies are either "past-it," or gone altogether. They'd be novelty pieces, just as are the "fantasy" ones, but lawfully-minted. They'd be special-issue collector coins of no more meaning or significance than that. Even the 1964 Kennedy Halves had meaning, as they at least circulated. I remember it. That people hoarded those is in part true, but not anywhere near the degree that's often repeated whenever that subject comes up. The cash registers still had a slot for halves, and they were spent as much as any other half. And I don't collect freaks. Even special mint sets, I dislike those. So, you asked, there you have it. And let me be the first to say, right from the horse's mouth.

 

I wonder what dies they used for them...does anybody know? I would imagine the dies were brand new as the plan was to mint 45 million coins. My guess is the design had to be recreated for the new dies much like the design for the 1921 Morgan had to be recreated. Therefore, the 1964-D Peace design would have differed slightly from the previously produced Peace Dollars. I wonder if anyone knows for sure?

 

I don't know, either, but the recreated dies would probably be closer to the original dies than were they recreated today. Does that make sense?

 

The supply of dollar coins for the casinos in Nevada was starting to dry up. The Treasury had been paying out accumulated silver dollars in the early sixties and when they did that some previously rare 1903 and 1904 dollars all of a sudden were released and became somewhat common. Of course it is known that LBJ was a fan of the silver dollar and went along with minting the coins. One is rumoured to be in the LBJ library.

Eventually after the coin shortage abated by the late 1960s the mint was ready to create coins for the casinos again - the Ike dollars. But I remember seeing Morgans and Peace in slot machines into the mid 1970s.

 

No...not really. I think the ASE is quite a lovely recreation of a classic design.

 

This quote from 9/2/16 Coin World article

 

They look cartoonish to me.