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Message:: [QUOTE="schatzy, post: 805244, member: 17401"]There are many different theories on why the 1964 SMS coins were produced. These coins could have been produced as prototypes for the 1965 to 1967 SMS coins. The 1964 SMS coins could have also been produced as introductory pieces, possibly even intended to include a 1964-D Peace dollar. Furthermore, it is believed these SMS coins came into existence somehow through the involvement of Eva Adams, U.S. Mint Director at the time. After Eva Adams passed away, her estate was sold off and well-recognized dealer and auctioneer Lester Merkin is believed to have bought many of the coins from her estate. Lester Merkin's collection would then be sold in a Stack's auction in the early 1990s, including some, if not all, of the known 1964 SMS coins.Recently, a complete set of these compelling coins was submitted to PCGS for grading. Viewing some of these intriguing and eye-rewarding coins is definitely one of the great benefits of having thousands of coins pass though our graders' hands every single day. Today, many experts believe there are anywhere from 20 to 50 sets in existence in all grades combined, making these coins very scarce. Many of the 1964 SMS coins could have also been lost, damaged or even tossed aside since their mysterious status was only somewhat solved by early 1993, almost 30 years after they were initially produced.[/QUOTE]