In a remarkable turn of events, an exceptionally rare 1975 Roosevelt dime, missing the customary “S” mint mark, has surfaced after being hidden for over four decades.
This coin recently sold at auction for an astounding $506,250, captivating numismatists and collectors worldwide.
The Discovery of a Hidden Treasure
Three sisters from Ohio inherited the rare dime following the passing of their brother, who had safeguarded it in a bank vault for more than 40 years.
Their brother and mother had acquired the coin in 1978 for $18,200, viewing it as a financial safety net for their dairy farming family.
The sisters, choosing to remain anonymous, were unaware of the coin’s significant value until its recent appraisal.
Understanding the 1975 “No S” Proof Dime
The 1975 Roosevelt dime in question is one of only two known examples missing the “S” mint mark, which denotes coins minted in San Francisco.
In 1975, the San Francisco Mint produced over 2.8 million special uncirculated proof sets, each containing six coins, sold for $7 at the time.
However, collectors later discovered that two dimes from these sets lacked the mint mark, making them extraordinarily rare and highly sought after.
Auction Details and Record-Breaking Sale
The coin was sold through GreatCollections, an auction house based in Irvine, California. The online auction concluded on October 27, 2024, with the dime fetching $506,250.
This sale surpasses the previous record for the other known 1975 “No S” proof dime, which sold for $456,000 in 2019.
Key Details of the 1975 “No S” Proof Dime
| Feature | Description |
|---|---|
| Year of Minting | 1975 |
| Mint Location | San Francisco (intended) |
| Missing Mint Mark | “S” (San Francisco) |
| Number of Known Coins | 2 |
| Original Purchase Price | $18,200 in 1978 |
| Recent Auction Price | $506,250 in October 2024 |
| Previous Record Sale | $456,000 in 2019 |
Significance in the Numismatic World
The sale of this ultra-rare dime has reignited interest in modern U.S. coinage errors. Coins with missing mint marks are particularly valuable due to their rarity and the circumstances of their creation.
The 1975 “No S” proof dime stands out as one of the most significant modern coin errors, highlighting the importance of meticulous minting processes and the intrigue of numismatic anomalies.
FAQs
What makes the 1975 “No S” proof dime so valuable?
The coin’s value stems from its rarity; it is one of only two known dimes from 1975 missing the “S” mint mark, indicating it was minted in San Francisco. Such errors are exceptionally uncommon, making the coin highly desirable among collectors.
How was the coin preserved for over 40 years?
The coin was kept in a bank vault by the original owners, who viewed it as a financial safety net. This careful preservation maintained its pristine condition, contributing to its high auction value.
Are there other coins with similar minting errors?
Yes, other coins with missing mint marks exist, such as the 1968 “No S” Roosevelt dime and the 1970 “No S” Roosevelt dime. However, the 1975 “No S” proof dime is among the rarest and most valuable.
How can I determine if I have a valuable coin?
Consulting with a professional numismatist or coin grading service is advisable. They can assess the coin’s condition, rarity, and market value accurately.
Where can I sell a rare coin?
Rare coins can be sold through reputable auction houses, coin dealers, or online platforms specializing in numismatic items. It’s essential to research and choose a trustworthy venue to ensure a fair transaction.
