![]() ![]() Many other rumors have gone around with stories of Mint employees stealing coins, yet no 1964-D Peace Dollars have surfaced. This means that someone could have substituted a normal date Peace Dollar in exchange for a 1964-D Peace Dollar and would not get caught. They simply calculated how many coins they melted from weight. The Mint did as they were told, however, they did not individually count and verify the coins they melted. However, now that silver dollars were no longer needed in circulation and due to the rising price of silver, Congress canceled the creation of 1964 silver dollars and forced the Mint to melt all of the new silver dollars. This forced the production of silver dollars to be delayed.Īfter a long delay, the Denver Mint made a total of 316,076 1964-D silver dollars from May 13 to 24, 1965. To the Senate’s dismay, silver prices and demand for small denomination coins kept rising. ![]() The demand for smaller denomination coins and a rise in silver prices forced the Senate to lower their request to 45 million silver dollars. Also, silver prices were rising, which would make the minting of 1964 silver dollars hard to make a profit on. However, while all this was happening, vending machines had become very popular and many people started getting into coin collecting to search through coins for newly found varieties. Kennedy agreed to award him with the funds to make 50 million silver dollars in the 1964 fiscal year as well as give him the funds to make another 100 million silver dollars in the following fiscal year. Douglas Dillon asked for the authority to mint 50 million silver dollars. Both the Treasury and the Senate were making a sacrifice for a gain.īecause of this deal, Treasury Secretary C. This is when a deal was made in which the senators would support the Treasury in their plans to take silver out of circulating change, but the Treasury would have to allow the Senate to issue a law to make new silver dollars. However, the Senate was pulling to keep silver in the dimes, quarters, and half dollars and was hoping that no more silver dollars would be made. It just so happened that at that time, efforts were being made by the Treasury to take silver out of the dime, quarter, and half dollar coins. This meant that more silver dollars may be needed if this demand kept up. All the sudden demand took the silver dollars out of the bank’s hands and in March of 1964, only 2.9 million silver dollars remained in government vaults. ![]() However, in the 1960s, demand for silver dollars increased, especially when word of rare dates being found in bank bags got around. Banks were able to accumulate bags of old silver dollars and were therefore able to keep up with the small demand from casinos and from people redeeming their silver certificates for silver. In the early 1960s, few silver dollars circulated in the United States, and their only use was in the West where gambling was popular. With one of the greatest stories in numismatic history, and the chance that a new auction record holder could be hidden in someone’s closet, there is a lot to talk about, so let’s dive in! Hello, everybody! Today, I will be talking about the mysterious 1964-D Peace Dollar. ![]()
0 Comments
Leave a Reply. |