Tuesday, January 15, 2013

PCGS Offers $10,000 to See an Authentic 1964-D Peace Dollar

Image provided by PCGS
"PCGS Offers $10,000 to See an Authentic 1964-D Peace Dollar!" I just got this headline via email. It's a great idea but I'm not sure that if I owned a (the) legendary 1964-D Peace Dollar - assuming of course there is one, that I would risk confiscation by the US Treasury for $10,000.

Remember the sad story of the ten 1933 Double Eagles? Here's an excerpt from Wikipedia:
'On July 20, 2011, after a 10-day trial—a jury decided unanimously in favor of the United States government concerning ownership of the ten additional double eagles. The court concluded the circumstantial evidence proved that Israel Switt illegally obtained the coins from the United States government and they are still government property.'
Some background on the 1964-D Peace Dollar also from Wiki:
'Both the public and many congressmen saw the issue as a poor use of Mint resources at a time of severe coin shortages, which would only benefit coin dealers. On May 24, one day before a hastily called congressional hearing, [US Mint Director] Adams announced that the pieces were deemed trial strikes, never intended for circulation. The Mint later stated that 316,076 pieces had been struck; all were reported melted amid heavy security.'
I'm assuming heavy security in 1965 was heavier than when the five 1913 Liberty Nickels were illegally struck - those are worth millions now and change hands freely. So, no telling what the Treasury might do.

So yes, PCGS, if I had one, I'd let you see it and authenticate it, but I'd want more than the price of a used car to go public with it.

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