An exceptionally rare dime, whose location has been unknown since the late 1970s, has recently sold for over $500,000. Struck by the U.S. Mint in San Francisco in 1975, this unique coin features President Franklin D. Roosevelt and is one of only two known examples without its "S" mint mark.
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| This undated image provided by GreatCollections shows a 1975 proof set dime mistakenly made without the San Francisco Mint's letter S mintmark. / AP |
The dime was inherited by three sisters from Ohio after their brother passed away. He had kept the coin secured in a bank vault for more than 40 years. The coin sold for $506,250 in an online auction that concluded on Sunday, according to Ian Russell, president of GreatCollections, an auction house based in Irvine, California. The auction attracted 212 bids.
The only other known "1975 'no S' proof dime" had previously sold at a 2019 auction for $456,000. Shortly after that, it changed hands for $516,000 to a collector who currently owns the only complete collection of Roosevelt Dimes.
In 1975, the San Francisco mint produced over 2.8 million special uncirculated "proof" sets that included six coins, sold for $7 each. Years later, collectors discovered that two dimes from these sets were missing the mint mark.
Russell shared that the sisters, who wished to remain anonymous, inherited one of these error dimes. Their brother and mother had purchased the first discovered error coin in 1978 for $18,200, equivalent to about $90,000 today. Their parents, who operated a dairy farm, viewed the coin as a financial safety net.
When Russell informed one of the sisters about the potential value of their coin a few years ago, she was astonished, asking, "Is that really possible?"
While it’s possible that more examples of the rare dime exist, they are likely to be found only among the 1975 "proof" sets, not in circulation. Russell anticipates that this recent sale will inspire many collectors to search for similar coins.
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