An incredibly rare Roosevelt dime from 1975, created by the U.S. Mint in San Francisco, is set to fetch a large sum, potentially over $500,000. This dime stands out because it lacks the usual “S” mint mark, a detail that makes it exceptionally valuable. Only two such dimes are known to exist, making this coin a collector’s dream. The previous coin, also missing the “S” mark, sold at a 2019 auction for $456,000 and then was acquired by a private collector for an undisclosed amount shortly after.
The whereabouts of these two coins were a mystery for decades, even to serious collectors. Now, with one of them back in the spotlight, the auction hosted by GreatCollections could result in a record-breaking sale.
How This Coin Became So Rare
In 1975, the U.S. Mint in San Francisco produced a special “proof” coin set containing six coins, which was sold for $7. Over 2.8 million of these sets were made. However, coin collectors later discovered that two of these sets included dimes that lacked the “S” mint mark, making these error coins incredibly rare and valuable.
The coin recently up for auction was found after the passing of a man who had held it for decades. His sisters, who inherited it, discovered the coin was worth far more than they realized. Their family had initially bought the coin in 1978 for $18,200 (equivalent to about $90,000 today), seeing it as a financial investment.
Key Details of the Auction
- Auction Organizer: GreatCollections, led by President Ian Russell, is managing the online sale.
- Estimated Value: The rare dime is expected to fetch over $500,000.
- Auction End Date: The bidding will close in late October.
- Public Display: Before the auction closes, the coin will be displayed at a major coin show in Tampa, Florida.
Historical Significance and Value
Ian Russell noted that most collectors and dealers had never seen this coin, as it has been hidden for decades. The sisters who inherited it had only recently understood its true worth after speaking with Russell. Despite their brother’s frequent mentions of the coin, they never imagined it could reach such a high value.
The 1975 “no S” dime holds significant value, not only for its rarity but also for its unique story. The mystery surrounding it for years has only added to its appeal in the collectors’ market.
Key Facts About the 1975 “No S” Roosevelt Dime
| Feature | Details |
|---|---|
| Year | 1975 |
| Mint | San Francisco (Missing “S” Mark) |
| Known Pieces | 2 |
| Last Auction Price (2019) | $456,000 |
| Estimated Current Value | Over $500,000 |
| Family History | Coin History |
|---|---|
| Bought in 1978 | Missing mint mark discovered later |
| Inherited by sisters | Held by family as an investment |
| Seen as financial security | Only recently valued |
Conclusion
The 1975 “no S” Roosevelt dime represents a fascinating chapter in numismatic history. Its extraordinary rarity, coupled with the intriguing backstory of its inheritance and the mystery of its existence, has captured the attention of collectors and enthusiasts alike. With the potential to sell for over $500,000 at auction, this dime is more than just a piece of currency; it symbolizes the enduring allure of rare coins and the stories they carry. As it prepares to go under the hammer, the spotlight shines on not only its monetary value but also the familial legacy and the history of the U.S. Mint that produced it. This coin serves as a reminder of how seemingly ordinary items can hold exceptional significance, making the world of coin collecting both thrilling and rewarding.
FAQ’s
What makes the 1975 ‘no S’ Roosevelt dime so rare?
The 1975 dime is valuable due to a missing “S” mint mark, making it one of only two known coins with this error.
How much did the last ‘no S’ dime sell for?
The last known sale in 2019 fetched $456,000.
Where will the rare dime be displayed before the auction?
The coin will be displayed at a coin show in Tampa, Florida, before the October auction.
Why is there no ‘S’ mint mark on this dime?
The missing “S” mint mark was a minting error that occurred during the coin’s production in San Francisco.
How much was this dime initially bought for?
The sisters’ family bought it in 1978 for $18,200, now roughly $90,000 in today’s currency.