In October 2024, a humble dime, typically thought of as just loose change, surprised the world when it sold for an astounding $506,250 at auction. This dime, minted nearly 50 years ago, has become a sensation in the world of coin collecting due to a unique minting error. The coin is missing the “S” mint mark, which would have indicated it was produced at the San Francisco Mint, making it one of the rarest U.S. coins ever discovered.
The story behind this coin is a fascinating mix of chance, history, and a remarkable minting mistake that has captivated collectors. Known as one of only two such coins in existence, the 1975 “No S” Proof Dime is considered a “Holy Grail” for coin enthusiasts, showcasing how even the smallest flaw can elevate a coin’s value to incredible heights.
The Rarity 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 portrait on the obverse |
| Original Distribution | Part of over 2.8 million proof sets minted for collectors |
| Known Examples | Only two confirmed worldwide |
| Original Purchase | Acquired in 1978 for $18,200 |
| Sale Price (2024) | Sold for $506,250 at auction |
| Previous Record | The other example sold for $456,000 in 2019 |
What Makes the 1975 “No S” Proof Dime So Valuable?
The most striking feature of this rare coin is the absence of the “S” mint mark, which should have signified it was minted at the San Francisco facility. Mint marks are used to identify which U.S. Mint produced a coin—San Francisco (“S”), Denver (“D”), or Philadelphia (“P”). The “No S” Dime was intended to be part of a proof set, with coins carefully crafted for collectors, but somehow two dimes from the 1975 set were mistakenly struck without the mint mark.
This oversight slipped through the quality control at the San Francisco Mint, turning an otherwise ordinary coin into an incredibly valuable rarity.
The Coin’s Journey from Vault to Auction
The fascinating journey of the 1975 “No S” Proof Dime began in 1978 when it was purchased for $18,200 by a collector who kept it in a bank vault for over four decades. It was considered both a cherished family possession and a financial investment.
Upon the collector’s passing, the coin was inherited by his three sisters, who recognized its immense value. They decided to consign the dime to GreatCollections, a premier auction house. When it was auctioned in October 2024, there was fierce competition among numismatists from around the globe. The coin ultimately fetched a record-breaking $506,250.
Not the Coin’s First Big Sale
Though the recent auction sale broke records, the 1975 “No S” Proof Dime has a history of commanding impressive prices. The only other known example of this coin was sold in 2011 for $349,600, and again in 2019 for $456,000. These earlier sales highlighted the growing demand for this rare minting error.
Why Is the Coin So Valuable?
Several factors contribute to the extraordinary value of this particular dime:
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- Rarity: With only two examples known to exist, it is one of the rarest modern U.S. coins.
- Minting Error: The missing mint mark is a remarkable error, especially on proof coins which are typically flawless.
- Condition: The coin was graded as Proof-67 by the Professional Coin Grading Service (PCGS), further boosting its value.
- Historical Significance: The coin’s accidental omission of the mint mark represents an interesting moment in numismatic history.
- Collector Demand: Rare coins with unique errors are highly sought after in the market.
Minting Errors: A Collector’s Dream
Coins with minting errors have always fascinated collectors because they represent deviations from the norm. Proof coins, in particular, are expected to be perfect, making the “No S” Proof Dime all the more remarkable.
Ian Russell, president of GreatCollections, pointed out that the likelihood of discovering another example is extremely low. Most 1975 proof sets have already been examined by collectors, and finding a third example seems highly improbable.
The Impact of This Sale on Coin Collecting
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 highlights the importance of carefully preserving and examining older coins, as treasures like this dime may be hidden in forgotten collections.
FAQs About the Rare 1975 “No S” Proof Dime
- What makes the 1975 “No S” Proof Dime so special? Its unique minting error—the absence of the “S” mint mark—makes it exceptionally rare and valuable.
- How many of these dimes exist? Only two confirmed examples are known to exist.
- What was the original purchase price? The coin was originally purchased in 1978 for $18,200, equivalent to roughly $90,000 today.
- Why are mint marks important? Mint marks are used to identify the minting facility. A missing mint mark on a proof coin is an extremely rare and significant error.
- Could another example of this coin be found? It is highly unlikely, as most 1975 proof sets have already been reviewed by collectors.
Final Thoughts
The 1975 “No S” Proof Dime perfectly encapsulates the allure of numismatics: a small object carrying immense historical, rarity, and financial value. Its journey from an unexpected minting error to a record-breaking sale underscores the fascinating world of coin collecting and its endless possibilities.
What hidden treasures might be tucked away in your collection? Explore the world of numismatics and discover the wealth of history contained within every coin.