PCGS offers reward for 1964-D Peace dollar

PCGS produced this fresh artist ’ s concept of what a 1964-D Peace dollar might look like, if one survives. The grade service is offering a $ 10,000 reinforce for an opportunity to examine a coin that Treasury Department officials say is illegal to own. Professional Coin Grading Service officials are hoping that person in the collecting community holds a actual 1964-D Peace dollar, and the tauten is willing to pay a $ 10,000 reinforce equitable for the opportunity to examine one of the legendary trial strikes from 1965 .
PCGS officials announced the reward on Jan. 11 during the scaling service ’ s lunch at the Florida United Numismatists convention in Orlando .
Treasury Department officials ruled in May 1973 that the 1964-D Peace dollar is illegal to own. No examples of the coin have ever been authenticated, though rumors prevail of some pieces surviving in the collector market.

besides during the lunch, PCGS revealed the PCGS Top 100 Modern U.S. Coins rankings. The 1964-D Peace dollar rests in the No. 1 descry in the rankings even though no confirm examples of the trial strikes exist, not tied in the National Numismatic Collection of the Smithsonian Institution .

Bureau of the Mint officials claim to have melted all 316,076 examples of the 1964-D Peace dollars after a plan to resume ash grey dollar output was abandoned in 1965. If any pieces were to have escaped melting and entered the collector marketplace, the ash grey dollars are subject to confiscation by the Treasury Department. United States Mint officials hold the position that none of the silver dollars was ever officially released and therefore all stay government place .
PCGS officials will consider the legal issues involved with examining an case of the mint, according to the firm .
“ PCGS has not checked with legal rede, but of naturally we would before doing anything, as we did with the 1974 Aluminum cent. Our scene is that the 1964-D Peace dollar, if it exists, is one of the most authoritative coins of the twentieth Century, and a care for for the numismatic community. If one does surface, and if there are no legal issues with us viewing the mint, we are confident our experts would be adequate to of authenticating the mint, ” said David Hall, president of the united states of Collectors Universe, parent company of PCGS .
PCGS has authenticated and graded a 1974 Lincoln aluminum cent, a trial strike that Treasury officials besides deem illegal for individual possession, though at least one is known to be in individual hands .
Diagnostics for comparison ?
If PCGS officials were to be afforded an opportunity to examine a purport 1964-D Peace dollar, the marking service would presumably face at least one vault : no diagnostics from a previously authenticated example .
PCGS authenticators could compare an case to Peace dollars of earlier dates. however, the Philadelphia Mint was forced to prepare newfangled obverse, invert and collar dies for the coins. According to Roger Burdette in A Guide Book of Peace Dollars, existing stocks of reverse and collar dies from the 1930s, when Peace dollars had been last hit, were undesirable for practice .
Burdette besides notes that all hubs and overlord dies for Peace dollars were destroyed in 1937. Burdette said on Jan. 9 that the Philadelphia Mint “ still had the original 1921 obverse hurl, ” though this would have been of the high respite adaptation of the coin, issued in 1921 ( a lower stand-in translation was used from 1922 to 1935 ). “ I have not been able to learn anything about the new 1922 models and casts that [ Peace dollar couturier Anthony ] deFrancisci made in low respite. Gilroy Roberts [ the Mint ’ sulfur foreman engraver in 1965 ] might have used the 1921 obverse in some way, but I found nothing stating that, ” Burdette said Jan. 9 .
Burdette writes in his reserve that because of the miss of honest-to-god hub and dies, “ it is likely that 1964 Peace dollar details differed perceptibly from low-relief varieties of the 1920s and 1930s. ” ( History would seem to support Burdette ’ south conclusions on design differences. Collectors of Morgan dollars are well aware that the 1921 examples of that mint differ well in detail from those last hit in 1904, due to a necessitate to produce all-new models for the raw Morgan dollars. )
Questions to PCGS officials by Coin World about what diagnostics could be used in any possible authentication of a 1964-D peace dollar were unanswered as of iron deadline Jan. 11 .
1964-D Peace dollar history
The 1964-D Peace dollars were struck from May 13 to 24, 1965, in function to replenish dwindling supplies of 1935 and earlier ash grey dollars held in Treasury Department vaults. For respective months in 1965, as the news media covered the production of the silver dollars and government consider surrounding the coins, the mint collecting community eagerly anticipated the release of the first silver dollars struck since 1935. Coin dealers even began publishing advertisements oblation to buy the silver dollars at prices well above their expression rate .
however, production of the ash grey dollars began at the approximate lapp prison term that the government was besides discussing removing most or all silver medal from the nation ’ randomness neologism. The final decisions made regarding the role of silver in circulating neologism, and Bureau of the Mint objections to possible dealer/collector meditation in the eloquent dollars, led the politics to stop product of the 1964-D Peace dollars .
Eva Adams, the Mint conductor at the clock time, said the 316,076 1964-D dollars that had been struck were classified as trial strikes and all were melted, notes PCGS .
Do any survive ?
however, rumors persist that examples survive, though no 1964-D Peace dollar has ever been displayed openly .
One dogged rumor states that Denver Mint employees were offered the opportunity to acquire examples of the argent dollars at face value, a decision that if true, could have enabled examples to have entered the collector market .
Surviving employees who were portray during the production of the coins have unlike recollections about whether the coins were offered to Denver Mint employees for purchase.

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Michael P. Lantz, a die compositor trainee, Coin Press, Branch, Coining Division, at the Denver Mint in May 1965, contends that no such sales occurred. Lantz made that claim in an article published in the Sept. 16, 1996, topic of Coin World .
Tito Rael, another early Denver Mint production employee involved in the strike of the 1964-D Peace dollars, told collectors attending the American Numismatic Association Summer Conference in 1993 in Colorado Springs, Colo., that no 1964-D peace dollars were ever offered for sale to Denver Mint employees or the public .
Mint Director Adams, quoted in an interview published in the May 21, 1975, offspring of Coin World dedicated entirely to the 1964-D Peace dollar production, said she was unaware of any miss examples .
In the consultation, Adams said all steps were followed to ensure that no 1964-D Peace dollars escaped the confines of the Denver Mint .
“ At no meter when I was there was there any disregard in maintaining this system, at least no case which ever came to my attention, ” Adams said in the interview. “ No pieces were ever reported missing. ”
however, numismatist Thomas K. DeLorey wrote in a July 15, 1996, Coin World Guest Commentary that he once spoke with outstanding Denver coin dealer Dan Brown, who claimed he had been told by a elder Mint official that Denver Mint employees each had been afforded the opportunity to two examples of the coins on the first day of production in May 1965. According to DeLorey, the Mint official told Brown that on the second base sidereal day of production, Denver Mint employees were ordered to return the coins they had purchased, and that most workers complied with the ordering .
DeLorey states that he subsequently related Brown ’ s narrative to a former Denver Mint employee working in the deliberation room, who DeLorey says confirmed Brown ’ s account. According to DeLorey, the employee he spoke with claimed that a boyfriend Denver Mint worker, when ordered by officials to return his coins, indicated that he had spent his two 1964-D peace dollars at a Denver barricade .
other rumors persist, with Burdette noting in his book on Peace dollars that “ a number of celebrated collectors and dealers [ claim ] to have seen or been offered examples. ”
The chapter on 1964-D Peace dollars in Burdette ’ s script provides a detailed account of when, where and how the trial strikes held at diverse Bureau of the Mint facilities were destroyed. however, Burdette does not discount the possibility that examples could have escaped destruction .
About the PCGS reward
Don Willis, president of PCGS, a division of Collectors Universe Inc., stated in a press release that 1964-D Peace dollars “ have achieved legendary status with rumors and speculation over the decades that some examples may have survived. PCGS now is offering a $ 10,000 cash reward just to view in person and verify a actual 1964-D Peace dollar. ”
Hall, who is besides co-founder of PCGS, said : “ It sometimes takes years for celebrated coins to surface. Until 1920, no one know there actually were 1913 Liberty Head nickels in universe. Until 1962, no one knew the 1804 Draped Bust flatware dollar and the other coins in the special presentation set given by the United States to the King of Siam in 1836 were silent in universe. …
“ possibly this new wages crack will help solve the mystery of whether any 1964-D peace dollars survived the melting pots. It ’ s the number one modern U.S. coin, ” Hall explained .
crown 100 modern Coins
The creation of the PCGS Top 100 Modern U.S. Coins listing underscores the growing popularity of coins struck since 1965, according to the grading service .
“ Modern coins continue to increase in popularity and are a quickly growing character of PCGS submissions. There are numerous types of collections of modern coins as evidenced by the thousands of mod coin sets in the PCGS Set Registry, ” Willis said .
The complete list of 100 as ranked by PCGS experts and other consultants is available online at www.PCGS.com/top100 .
The top five in the PCGS Top 100 Modern U.S. Coins tilt are :
( 1 ) 1964-D Peace dollar : “ The most controversial and one of the most celebrated of all modern issues, ” according to Ron Guth, president of PCGS CoinFacts .
( 2 ) Proof 1975-S Roosevelt, No S dime bag : only two known, and one recently sold at auction for $ 350,000.

( 3 ) 1974 Lincoln aluminum penny : 1.57 million were minted but only two are known. One is graded PCGS Mint State 62 and believed to be in individual hands. Another case resides in the National Numismatic Collection at the Smithsonian Institution .
( 4 ) proof 1976 Eisenhower, Bicentennial, No S dollar, Type 2 blueprint ( dense reversion letters ) : only one example is known .
( 5 ) Proof 2000-W Sacagawea dollar struck in .9167 fine gold : 12 are known from a reported mintage of 39, all held by the United States Mint. ¦

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