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1923 US Peace SILVER DOLLAR
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The Extremely Rare 1964 Silver Dollar

Question: 

Is it true that some US silver dollars were made in 1964 and they are very scarce?

Answer:

Yes, but........ 
the 1964 peace US silver dollars are now considered illegal to own.

 Here's why -

The story of the 1964 Peace Dollar

  In 1964 US silver coins were being hoarded because world silver prices had gone up.  The value of silver coins was becoming worth more than the spendable (face) value of them. Because of this speculators were melting the silver coins down into silver bars and sell the bars on the commodity exchanges for a profit.

Desperate To Avert A Coinage Crises

The US government was becoming desperate to avoid a economic crisis because silver coins were disappearing circulation. (At that time all of the dimes, quarters, halves, and silver dollar coins were made of silver.)  Just imagine the difficulty of stores making change, if silver coins were gone from circulation and all you had were pennies and nickels. Many economic experts were saying that the confidence in the US government would certainly decline.
To try to address the hoarding of silver coins that was beginning to take place, the US government passed laws to forbid the melting of US silver coins (dimes, quarters, half dollars, and silver dollars).  However the US laws only applied to what was happening in the USA.  Silver coins were still being exported and shipped to foreign countries where they were melted.  This continued outside of the USA even though US laws were passed banning this.


Authorities Announce That Things Are Okay

 
There were many instances where those in authority made announcements to keep maintaining the illusion that silver coins would not disappear from circulation.  They tried to convince the public that the United States' government had plenty of silver to continue making coins for circulation.  Even the president got in on the action by saying we would never stop silver coin production.  However, at the same time secret plans were being made to produce non-silver clad coins in large quantities.  Silver coins with the 1964 date continued to be minted into 1965.  All the while available circulating coinage continued to dwindle.

Legislation Passed To Make 1964 Silver Dollars

  On August 3, 1964 legislation was passed authorizing the production of 45 million silver dollars.  It was decided to make the new silver dollars using the same design as the Peace Silver dollars from the 1930's. (Silver dollars had not been produced since 1935.) A total  of 316,076 of these 1964 peace US silver dollars were made.  The dollars were struck at the Denver Mint in 1965. 

Design was similar to a 1923 Peace Silver Dollar
1964 silver dollar design was like the 1923 peace silver dollar
No photos of the 1964 peace dollar are known to exist

 
Plans for the release of these 1964 silver dollars were soon abandoned and the ones the government minted were melted. None of these coins were ever released for circulation.  Ownership of one of these coins is considered illegal, because none of them were released by the Mint.  The implication is that if you have one, then it was stolen from the US mint and obtained by illegal means.

Summary:

Silver dollars were made dated 1964, but all were melted.  None of them are known to exist.  If a 1964 silver dollar was found today it would likely be confiscated by the US government for it would be considered illegal to own.


 
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