In the world of Dime Sells Coin collecting, there are some rare coins that are highly valuable. One such coin is the 1975 No ‘S’ Proof Roosevelt Dime, which recently sold for more than $500,000. This coin is special because it was created due to a minting mistake that made it incredibly rare. Let’s explore the fascinating story behind this coin and how you might be able to identify such a treasure if you have one.
The Significance of the 1975 No ‘S’ Dime
In 1975, the U.S. Mint in San Francisco produced over 2.8 million proof sets. These proof sets were special editions of coins made for collectors. Normally, coins from this mint have an ‘S’ mintmark to show where they were made.
However, for some unknown reason, a few dimes from that year’s proof set were struck without the ‘S’ mintmark. This mistake created the 1975 No ‘S’ Proof Dime, which is now considered one of the rarest coins in the U.S.
A Family’s Hidden Asset
The story of this coin’s incredible value starts with a family from Ohio. In 1978, the family bought one of these rare dimes for $18,200—which would be about $90,000 today. They saw it as a financial safety net.
After they bought the coin, it was kept safely in a bank vault for more than 40 years. Only a few people knew about its existence. When the family member who owned the coin passed away, his three sisters inherited it, unaware of how valuable it was. They only learned its true worth when they showed it to numismatic experts.
The Auction and Its Outcome
The 1975 No ‘S’ Proof Dime was eventually sold at GreatCollections, a special auction house for rare coins. After generating a lot of excitement from collectors around the world, the coin sold for $506,250 in October 2024. This was a new record for this coin, breaking the previous record of $456,000, which was set when the other known example was sold in 2019.
Understanding Mint Marks and Their Importance
Mint marks are small letters found on coins that show where they were made. For example:
- ‘S’ is for coins made in San Francisco,
- ‘D’ is for coins made in Denver,
- ‘P’ or no mark at all is for coins made in Philadelphia.
Coins that are made for collectors, called proof coins, are usually of higher quality and include a mint mark. The 1975 No ‘S’ Proof Dime is valuable because it is missing the ‘S’ mintmark, which makes it a very rare find among collectors.
Could You Have One?
It’s very unlikely that you will find a 1975 No ‘S’ Proof Dime because there are only two known examples. However, if you have a 1975 proof set, it’s worth checking the dimes carefully. Look for the missing mint mark. If you think you have one, you should get it checked by a professional coin expert or a grading service to confirm its authenticity.
Key Details of the 1975 No ‘S’ Proof Dime
| Attribute | Description |
|---|---|
| Year of Minting | 1975 |
| Mint Location | San Francisco (intended) |
| Mint Mark | Missing ‘S’ |
| Known Examples | Two |
| Original Purchase | $18,200 in 1978 (approximately $90,000 today) |
| Recent Auction Price | $506,250 in October 2024 |
| Notable Owners | Ohio family; coin stored in a bank vault for over 40 years |
| Significance | The rarest modern U.S. coin due to a minting error and its limited number |
The Allure of Error Coins
Coins with minting errors are highly sought after because they are so rare. The story behind how these mistakes happen adds to their mystery and appeal. The 1975 No ‘S’ Proof Dime is an excellent example of how a small error can turn an ordinary coin into a highly valuable item. Collectors are not only interested in these coins for their worth but also because they represent unique moments in the history of coin production.
Conclusion
The sale of the 1975 No ‘S’ Proof Dime for over $500,000 is a fascinating story of hidden value and how mistakes can sometimes lead to great rewards. For the Ohio family, this dime became a life-changing treasure that they had no idea was worth so much. Although finding another 1975 No ‘S’ Proof Dime is unlikely, this story serves as a reminder of the unexpected surprises that can be found in the world of coin collecting.
FAQs
1. What is the 1975 No ‘S’ Proof Dime?
The 1975 No ‘S’ Proof Dime is a rare U.S. coin that was produced due to a minting error. Typically, proof coins from the San Francisco Mint have an “S” mintmark. However, a few dimes from the 1975 proof set were mistakenly minted without the “S,” making them extremely valuable.
2. How much is the 1975 No ‘S’ Proof Dime worth?
The 1975 No ‘S’ Proof Dime is worth $500,000 or more depending on its condition. In October 2024, one of these rare dimes sold at auction for $506,250, setting a new record for this coin.
3. Why is the 1975 No ‘S’ Proof Dime so valuable?
This coin is valuable because it is one of only two known examples of the 1975 No ‘S’ Proof Dime, making it extremely rare. Its rarity and the historical error behind its creation make it highly sought after by collectors.