In a remarkable turn of events, three sisters from Ohio have sold a rare 1975 dime missing its mint mark for over $500,000. This extraordinary coin, one of only two known to exist without the “S” mint mark, was kept in a bank vault for more than four decades before its true value was realized.
The Discovery of the Rare Dime
The dime in question was struck by the U.S. Mint in San Francisco in 1975 and features President Franklin D. Roosevelt on its obverse. What sets this coin apart is the absence of the “S” mint mark, indicating its place of origin. This error makes it one of the rarest coins of the 20th century.
Family’s Acquisition and Preservation
In 1978, the sisters’ mother and brother purchased the coin for $18,200, equivalent to approximately $90,000 today. Their parents, who operated a dairy farm, viewed the coin as a financial safety net and kept it secured in a bank vault for over 40 years. The sisters inherited the coin after their brother’s passing and were unaware of its significant value until recently.
Auction and Sale
The coin was authenticated and graded as Proof-67 by the Professional Coin Grading Service. It was then consigned to GreatCollections, an auction house specializing in rare coins. The online auction concluded on October 27, 2024, with the coin selling for $506,250. This sale underscores the immense value that rare mint errors can hold in the numismatic community.
Understanding Mint Marks and Their Significance
Mint marks are letters on coins that indicate the mint where the coin was produced. For example, “S” denotes the San Francisco Mint, “D” represents the Denver Mint, and coins without a mint mark are typically from the Philadelphia Mint. The absence of the “S” mint mark on this 1975 dime is a rare error, as all proof coins from the San Francisco Mint were expected to bear the “S” mark.
Comparison with Other Rare Coins
The only other known 1975 “no S” proof dime was sold at a 2019 auction for $456,000 and later to a private collector. This recent sale surpasses that amount, highlighting the increasing value of such rare mint error coins.
Key Details of the Rare 1975 Dime
| Attribute | Details |
|---|---|
| Year of Minting | 1975 |
| Mint Location | San Francisco (expected “S” mint mark) |
| Mint Mark | Missing “S” |
| Obverse Design | President Franklin D. Roosevelt |
| Grade | Proof-67 |
| Initial Purchase Price | $18,200 (in 1978) |
| Sale Price | $506,250 (in 2024) |
| Number of Known Coins | 2 |
Conclusion
The sale of this rare 1975 dime missing its mint mark serves as a compelling reminder of the hidden treasures that may lie unnoticed. For collectors and enthusiasts, it emphasizes the importance of understanding mint marks and the potential value of mint errors. This remarkable coin’s journey from a family heirloom to a half-million-dollar auction piece is a testament to the enduring allure of numismatics.
What makes the 1975 “no S” 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, making it a significant mint error highly prized by collectors.
How can I determine if my coin is missing a mint mark?
Mint marks are typically located on the obverse side of the coin. For dimes, the mint mark is above the date. If the area is blank where a mint mark should be, the coin may be missing it.
Are all coins without mint marks valuable?
Not necessarily. Some coins, especially those from the Philadelphia Mint, were produced without mint marks intentionally. However, if a coin is supposed to have a mint mark and it’s missing, it could be a rare error and potentially valuable.
