In the world of numismatics, certain coins capture the imagination of collectors and historians alike. One such coin, a 1975 Roosevelt dime missing the “S” mint mark, recently made headlines by fetching over $500,000 at auction. This article delves into the unique characteristics, historical significance, and the fascinating journey of this extraordinary coin.
The 1975 ‘No S’ Proof Dime: A Numismatic Rarity
In 1975, the U.S. Mint in San Francisco produced over 2.8 million proof sets, each containing six coins, including the Roosevelt dime. These proof coins are typically struck with a high-quality finish and bear the “S” mint mark, indicating their origin. However, an error led to the creation of at least two dimes without this distinguishing mark, known as the 1975 ‘No S’ Proof Dimes. This omission elevated these coins to a status of extreme rarity among collectors.
Discovery and Provenance
The journey of this particular dime began in 1978 when an Ohio family, operating a dairy farm, purchased the coin for $18,200—equivalent to approximately $90,000 today. The family viewed the coin as a financial safety net, and it remained secured in a bank vault for over four decades. Upon the brother’s passing, his three sisters inherited the coin, unaware of its current market value. Their decision to auction the dime brought it back into the public eye.
The Auction and Sale
The coin was consigned to GreatCollections, an auction house specializing in rare coins. The online auction concluded on October 27, 2024, with the dime selling for $506,250 after receiving over 200 bids. This sale set a new record for the auction house and underscored the coin’s significance in the numismatic community.
Historical Context and Significance
The absence of the “S” mint mark on this 1975 proof dime is not an isolated incident. Similar errors have occurred in other years, such as the 1968 and 1970 ‘No S’ Proof Dimes and the 1971 ‘No S’ Proof Jefferson Nickel. These anomalies are highly sought after due to their rarity and the intriguing stories behind their creation.
Comparative Analysis
To provide context, the table below compares the 1975 ‘No S’ Proof Dime with other notable error coins:
| Coin Type | Year | Mint Mark Error | Auction Sale Price | Date of Sale |
|---|---|---|---|---|
| 1975 ‘No S’ Proof Dime | 1975 | Missing ‘S’ | $506,250 | Oct 2024 |
| 1968 ‘No S’ Proof Dime | 1968 | Missing ‘S’ | $48,300 | Jan 2019 |
| 1970 ‘No S’ Proof Dime | 1970 | Missing ‘S’ | $31,200 | Aug 2018 |
| 1971 ‘No S’ Proof Jefferson Nickel | 1971 | Missing ‘S’ | $20,000 | Mar 2017 |
Note: Sale prices are approximate and based on available auction records.
The Allure of Error Coins
Error coins like the 1975 ‘No S’ Proof Dime captivate collectors due to their rarity and the stories they tell about minting processes. Such coins often emerge from unintended mistakes during production, making each piece a unique artifact of numismatic history.
Conclusion
The sale of the 1975 ‘No S’ Proof Dime for over $500,000 highlights the enduring fascination with rare coins and the lengths collectors will go to acquire them. This dime’s journey from a family heirloom to a record-breaking auction item underscores the importance of understanding the historical and monetary value of numismatic treasures.
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, making it a highly sought-after piece among collectors.
How was the missing ‘S’ mint mark discovered?
Collectors identified the absence of the “S” mint mark in the late 1970s when examining proof sets from 1975, leading to the recognition of this error.
Are there other coins with similar mint mark errors?
Yes, other examples include the 1968 and 1970 ‘No S’ Proof Dimes and the 1971 ‘No S’ Proof Jefferson Nickel, all of which are valued for their rarity.
