If a real 1964 Peace Dollar were to surface how would we know it was the real deal?

I'd buy that for a dollar.

 

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To be fair, it would melt for around $2.50 +/-.
So yea i'd give $3, if'n i could get my paws on one

 

40% halves current melt is $2.21
A Peace dollar at 40% is around $5.
Let's see $11.53, half of that would be 5.765 at 45%.
Be around $5.12.

 

Actually, if you did hold one of these, you probably would get a 'knock on the door'.......

 

So $1 is 40% would be $4.42.
But the Peace dollar was about 8% heavier than two half dollars (Thanks to the coinage act of 1853) so the melt value would be about $4.73 assuming the weight wasn't reduced in the legislation that would be needed to create a 40% silver Peace dollar.