A seemingly ordinary ten-cent coin has recently taken the numismatic world by storm. The Rare 1975 “No S” Proof Dime, which was sold for a remarkable $506,250 at an auction in October 2024, has become a sensation. This particular dime, minted almost fifty years ago, is far from ordinary due to a unique minting error—its lack of the “S” mint mark from the San Francisco Mint. Today, this coin is regarded as one of the rarest U.S. coins ever discovered.
This dime’s story is a fascinating one, woven with history, chance, and a minting anomaly that has captivated collectors across the globe. With only two known examples in existence, the 1975 “No S” Proof Dime is considered the Holy Grail by coin collectors, illustrating how even the smallest error can create immense value.
Overview of the 1975 “No S” Proof Dime
| Feature | Details |
|---|---|
| Year of Minting | 1975 |
| Mint | San Francisco Mint (intended) |
| Unique Feature | Missing the “S” mint mark |
| Design | Franklin D. Roosevelt’s portrait on the obverse |
| Initial Distribution | Part of over 2.8 million proof sets created for collectors |
| Known Examples | Only two confirmed worldwide |
| Original Purchase | Bought in 1978 for $18,200 |
| Sale Price (2024) | Sold for $506,250 at an auction |
| Previous Record | The other example sold for $456,000 in 2019 |
What Makes the 1975 “No S” Proof Dime So Rare?
The standout feature of the 1975 “No S” Proof Dime is its missing mint mark. Mint marks are typically used to indicate where a coin was produced—San Francisco (“S”), Denver (“D”), or Philadelphia (“P”). Proof coins, specifically designed for collectors, are expected to have these marks as a sign of their meticulous production.
However, for reasons still unknown, two dimes within the 1975 proof set were minted without the “S” mark. This oversight, which slipped through the San Francisco Mint’s quality control process, turned a regular dime into an incredibly rare and valuable coin.
From Vault to Record-Breaking Auction
The tale of this Rare 1975 “No S” Proof Dime is steeped in intrigue. Acquired in 1978 by a collector for $18,200, the dime was stored away in a bank vault for more than 40 years. The coin was regarded as both a prized possession and a wise financial investment.
After the collector passed away, the coin was inherited by his three sisters, who realized its extraordinary worth. They decided to consign it to GreatCollections, a leading auction house. In October 2024, the coin was sold for an astounding $506,250, attracting considerable interest from numismatists worldwide.
A History of Record Sales
While the recent sale broke all records, the 1975 “No S” Proof Dime has a history of setting auction milestones. Its counterpart, the only other known example, has previously broken records twice—first in 2011 for $349,600, then again in 2019 when it fetched $456,000. These sales highlight the growing fascination and demand for such rare coins.
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Why Is This Coin So Valuable?
Several key factors contribute to the extraordinary value of the Rare 1975 “No S” Proof Dime:
- Rarity: With only two known examples in existence, it is one of the rarest modern U.S. coins.
- Minting Error: The missing “S” mint mark is a remarkable error, especially for proof coins, which are expected to be flawless.
- Condition: The coin’s Proof-67 grade from the Professional Coin Grading Service (PCGS) ensures that it is in excellent condition, enhancing its value.
- Historical Interest: The coin represents an anomaly in the minting process, making it a significant piece of numismatic history.
- Collector Demand: Coins with unique errors always draw substantial interest from collectors, driving up demand and price.
Minting Errors: A Collector’s Treasure
Minting errors have long been a source of fascination for coin collectors, as they represent deviations from the norm. Proof coins, in particular, are expected to be flawless, as they are made with extra care. The Rare 1975 “No S” Proof Dime defies those expectations and has become a standout example of this.
Ian Russell, the president of GreatCollections, remarked that it is highly unlikely another example of this coin will ever be discovered, as most 1975 proof sets have already been closely examined by collectors.
What This Sale Means for Coin Collectors
The sale of the Rare 1975 “No S” Proof Dime serves as a reminder of the excitement and unpredictability that comes with coin collecting. It also highlights the value of preserving and examining older coins, as treasures like this dime may be hidden in forgotten collections.
Frequently Asked Questions About the Rare 1975 “No S” Proof Dime
- What makes the 1975 “No S” Proof Dime unique? The coin’s missing “S” mint mark is a significant error, making it one of the rarest and most valuable U.S. coins.
- How many of these dimes exist? Only two examples of the 1975 “No S” Proof Dime are known to exist.
- How much was it originally purchased for? It was bought for $18,200 in 1978, which is roughly equivalent to $90,000 today.
- Why are mint marks important? Mint marks indicate the production facility of a coin. A missing mint mark on a proof coin is an unusual and valuable error.
- Could another example of this coin be found? Although it’s theoretically possible, experts believe it is highly unlikely as most 1975 proof sets have already been examined.
Final Thoughts
The Rare 1975 “No S” Proof Dime is a perfect example of the magic of numismatics—where history, rarity, and a simple error can create incredible value. From a minting mistake to a record-breaking sale, this dime showcases the enduring appeal of coin collecting. Who knows what other treasures may be hidden in your own collection? The world of numismatics is full of surprises, and coins like this one prove that the hunt for hidden gems is far from over.