Coins are often seen as simple objects used for everyday transactions, but in the world of numismatics (coin collecting), some coins are worth far more than their face value. A prime example of this is the 1975 No ‘S’ Proof Roosevelt Dime, a rare coin that recently sold for an astonishing $500,000. This coin, which has a minting error, was part of a special set produced by the U.S. Mint in 1975. In this article, we will explore the history behind this rare dime, its unique characteristics, and how you can determine if you have one of these valuable coins in your possession.
The Importance of the 1975 No ‘S’ Dime
In 1975, the U.S. Mint in San Francisco created over 2.8 million proof sets, which are high-quality versions of coins made for collectors. These coins usually have a mint mark, which shows where they were made. Coins produced in San Francisco have an ‘S’ mint mark. However, due to a minting error, two dimes from the 1975 proof sets were struck without the ‘S’ mint mark. This mistake made the 1975 No ‘S’ Proof Dime one of the rarest and most valuable coins in modern American numismatics.
A Family’s Hidden Asset
The story of the 1975 No ‘S’ Dime’s discovery is one of surprise and fortune. A dairy farming family from Ohio purchased one of these error coins in 1978 for $18,200, which would be around $90,000 today, as part of a financial safety plan. The coin was stored safely in a bank vault for over 40 years, and only a few family members knew about its existence. After the brother’s death, the sisters inherited the coin, unaware of its immense value. It wasn’t until they consulted with coin experts that they learned the true worth of the rare dime.
The Auction and Its Record-Breaking Sale
The 1975 No ‘S’ Proof Dime was auctioned in October 2024 by GreatCollections, a well-known auction house for rare coins. The coin quickly attracted attention from collectors worldwide, and it eventually sold for a remarkable $506,250. This sale set a new record for the coin, surpassing the previous highest sale of $456,000 at an auction in 2019. The auction’s success highlighted the growing interest in rare coins and the value that collectors place on unique minting errors.
Mint Marks and Why They Matter
Mint marks are small letters found on coins to indicate where they were made. For example, coins made in San Francisco have an ‘S’ mint mark, coins from Denver have a ‘D’ mint mark, and coins from Philadelphia may have a ‘P’ or no mark at all. Mint marks are important because they help identify the origin of a coin and can increase its value. In the case of the 1975 No ‘S’ Proof Dime, the missing ‘S’ mark turned what should have been a typical proof coin into an extremely rare and valuable piece.
How to Tell if You Have a 1975 No ‘S’ Proof Dime
If you own a 1975 proof set, you might be wondering if you have one of these rare coins. To identify the 1975 No ‘S’ Proof Dime, you will need to check if the coin is missing the ‘S’ mint mark. Only two known examples of the 1975 No ‘S’ Proof Dime exist, making it a very unlikely find, but it’s not impossible. If you think you have one, it is recommended to have the coin evaluated by a professional numismatist or a trusted grading service to confirm its authenticity and value.
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 Price | $18,200 in 1978 (about $90,000 today) |
| Recent Auction Price | $506,250 in October 2024 |
| Notable Owners | Ohio family (coin stayed in a bank vault for over 40 years) |
| Significance | Rarest modern U.S. coin due to minting error and limited quantity |
The Allure of Error Coins
Coins with minting errors, like the 1975 No ‘S’ Proof Dime, have a special place in the world of coin collecting. These errors make the coins unique and add to their historical and monetary value. The story behind the 1975 No ‘S’ Proof Dime is a perfect example of how a simple mistake during production can result in a coin that is worth thousands, or even hundreds of thousands, of dollars. Collectors value such coins not only because of their rarity but also because of the intriguing stories behind their creation.
Conclusion
The story of the 1975 No ‘S’ Proof Dime serves as a reminder that the value of objects, including coins, can be far greater than we might expect. A coin that was once purchased as a financial backup ended up being worth over $500,000 due to a small minting mistake. While it’s highly unlikely that you’ll find another 1975 No ‘S’ Proof Dime, this tale highlights the potential surprises in the world of coin collecting. If you have a collection of coins, it’s always worth taking a closer look—you never know when you might have a hidden treasure on your hands!\
FAQs
1. What is a 1975 No ‘S’ Proof Dime?
The 1975 No ‘S’ Proof Dime is a coin from the U.S. Mint that was part of a special collector’s set. It is a rare error coin that was mistakenly struck without the ‘S’ mintmark, which is usually found on coins minted in San Francisco. Only two of these coins are known to exist, making them highly valuable.
2. Why is the 1975 No ‘S’ Proof Dime so valuable?
This dime is valuable because of its minting error. It was intended to be struck with an ‘S’ mintmark, which indicates it was made in San Francisco, but two coins were struck without it. The rarity and uniqueness of these coins make them extremely desirable to collectors, with one recently selling for over $500,000.
3. How can I tell if I have a 1975 No ‘S’ Proof Dime?
To check if you have one of these rare coins, carefully examine the mintmark on the reverse side of the dime. If it’s missing, you might have a 1975 No ‘S’ Proof Dime. Since only two are known, it’s very rare, but if you think you have one, consider getting it professionally evaluated.