Imagine discovering a dime valued hundreds of thousands of dollars an amazing find and just what occurred with a rare 1975 coin recently sold for more than $500,000. Stashed for decades, this precious Coin came to light under the meticulous care of its long-term owner and attracted the interest of collectors all over. Here is the interesting background of this unusual Dime, its enigmatic missing mint stamp, and its historical significance.
The 1975 “No-S” Dime: An Oddly Valuable Relic
The Verdict Like other dimes of the time, the 1975 Dime struck in San Francisco, bears the profile of President Franklin D. Roosevelt. Although the U.S. Mint generated approximately 2.84 million proof sets in 1975, this Dime caught out from the others as it lacked the “S” mint mark, intended to be imprinted on all San Francisco-minted proof pieces. It is one of the rarest dimes known to exist; this particular absence made it such.
These coins are quite desirable to collectors as this minting mistake produced just two known “No-S” 1975 dimes. Given its scarcity and the circumstances surrounding its discovery, Ian Russell of GreatCollections in California, who just managed the sale, called it an iconic mistake coin.
Frenzy of Bidings Results in Record-Breaking Sale
The rare Dime resurfaced decades of mystery and attracted great attention at auction. More than 200 offers for the Coin were lodged; finally, it sold for a record-breaking $506,250, over thirty times what its prior owners spent in 1978. Russell verified that the sale hit a fresh high for the uncommon “No-S” dime.
The coin’s history is as distinctive as its Coin itself. Purchased for $18,200 in 1978 by an Ohio collector, the Dime spent 46 years in an Ohio bank vault before it was passed on to the purchaser’s family. The family just chose to let it go because they realized another collector would value its importance.
How the Coin Was First Discovered
First seen in 1977, the “No-S” dime came from a Los Angeles collector who had bought five proof sets via mail. Two of the five sets, surprisingly without the “S” mint stamp, turned out to be important discoveries. Since faults with the “S” mint mark had previously happened in 1968, 1970, and 1971, collectors often searched proof sets for flaws in the 1970s.
After selling the first of these mistake dimes to a dealer, the lucky collector kept the second in hand and subsequently sold it to Chicago dealer F.J. Vollmer. Vollmer sold one of the “No-S” dimes to an Ohio collector in 1978; she kept it safely until it was passed on to her family.
The Legacy of a Collector’s Faith in a Rare Find
The Ohio collector believed the “No-S” 1975 Dime would remain a major rarity. By taking a chance on this dime just three years after it was minted, he made an investment that would prove to be wise. His confidence in its long-term value led him to hold onto the coin for decades.
| Coin Detail | Description | Value Over Time | Current Market Value |
|---|---|---|---|
| Coin Type | Proof 1975 Roosevelt Dime | $18,200 (1978) | $506,250 (2024) |
| Unique Feature | Missing “S” Mint Mark | Rare, only 2 in existence | Record-setting price at auction |
| Previous Sale Price | Sold for $18,200 in 1978 | $456,000 in 2019 | Over 200 bids in 2024 auction |
| Collector’s Ownership | Kept for 46 years in bank vault by Ohio collector | Inherited by family | Sold by family in 2024 |
| Auction House | GreatCollections, California | Increased value | Auctioned to eager collectors |
The family decided to sell the rare Coin as they realized another collector would value it as highly as their relative did. The latest sale reflects the value of a rare minting fault and the influence of collector forethought and perseverance.
FAQs
1. Why is the Dime valuable?
This Dime is a collector’s treasure since it lacks the “S” mint mark on all proof pieces struck in San Francisco.
2. How many “No-S” 1975 Dimes are there?
Only two known instances of this rare Dime exist, which adds to its great worth and appeal among collectors.
3. How long before this Coin was sold?
Before the collector’s family received the Coin, it was sold at auction in 2024 and was kept for 46 years in an Ohio bank vault.
4. Still today, are minting mistakes possible?
Indeed, even if the U.S. Mint has streamlined its procedures, mistakes occasionally happen, and collectors always search for unique flaws in contemporary coins.
5. Where may one sell unique coins such as the “No-S” dime?
Rare coins, whether with distinctive qualities or flaws, can often be sold for a great value through auction houses, respectable coin dealers, and internet sites focused on collectibles.