According to Vibes.okdiario A rare dime featuring President Franklin D. Roosevelt’s portrait recently made headlines after selling for an astonishing $500,000. This remarkable coin, minted in San Francisco in 1975, stands out due to a unique error: a missing “S” mint mark. This rare flaw makes it one of only two known examples in existence and significantly boosts its value among collectors.
The Sale and New Ownership
The dime found its new owner on October 27 through an auction at GreatCollections, a prominent auction house known for dealing in valuable coins. The coin had been jointly owned by three sisters from Ohio, who decided to sell it after securing it as part of their family’s legacy. The auction was a major event in the numismatic world, with Ian Russell, president of GreatCollections, expressing his excitement about handling the unique coin.
“This is a very exciting coin for our company to auction,” Russell shared, emphasizing its rarity as the first 1975 “no S” proof dime that the auction house had ever sold, despite handling many famous coins in the past, including two 1913 nickels and two 1804 silver dollars.
The History Behind the Coin
The story of the coin dates back to 1978 when the sisters’ mother and brother purchased it for $18,200, which, when adjusted for inflation, is roughly $90,000 today. Following the passing of their brother, the sisters inherited the coin, which had been safely stored in a bank vault for over four decades. It was seen as an important financial asset for the family’s dairy farm, serving as a crucial “safety net.”
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The Mystery of the Missing “S” Mint Mark
Mint marks are critical identifiers that indicate where a coin was produced, with the San Francisco Mint typically using the “S” mark. In 1975, the San Francisco Mint produced a “proof” set containing over 2.8 million coins. However, two dimes in this set were found to be missing the “S” mint mark, turning them into a modern rarity in the numismatic world. These two dimes are the only known examples of the 1975 “no S” proof dime, though some speculate more may exist.
In a remarkable auction in 2019, one of these rare dimes was sold for $456,000, only to be resold for an even higher price of $516,000 just five days later.
A Collector’s Dream
Noted coin expert Mitch Spivack, who has owned several rare coins, expressed his excitement at owning one of the finest examples of the 1975 “no S” dime, calling it a dream come true. This sale has only increased the appeal and value of these unique coins, securing their place as some of the most sought-after items in the numismatic community.
As the numismatic world continues to be captivated by such discoveries, the 1975 “no S” dime remains a shining example of how rare errors can turn an ordinary coin into an extraordinary treasure.
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