A seemingly ordinary ten-cent coin recently defied all expectations when a rare 1975 “No S” Proof Dime was sold for a jaw-dropping $506,250 at an auction in October 2024. This unassuming dime, minted nearly five decades ago, has become a star in the coin-collecting world—not because of its design, but due to a unique minting error. Missing the “S” mint mark, which signifies it was struck at the San Francisco Mint, this coin is now regarded as one of the rarest U.S. coins.
The story behind the 1975 “No S” Proof Dime is a captivating mix of chance, historical context, and a rare minting mistake that has intrigued collectors for years. As one of only two known examples in existence, it has become a prized “Holy Grail” for numismatists, proving that even the simplest errors can lead to immense value.
Key Details of the Rare 1975 “No S” Proof Dime
| Feature | Details |
|---|---|
| Year of Minting | 1975 |
| Mint | San Francisco Mint (intended) |
| Unique Feature | Missing the “S” mint mark |
| Design | Portrait of Franklin D. Roosevelt on the obverse |
| Initial Distribution | Part of a proof set of over 2.8 million coins |
| Known Examples | Only two confirmed worldwide |
| Original Purchase | Bought in 1978 for $18,200 |
| Sale Price (2024) | Sold for $506,250 at auction |
| Previous Record | Other example sold for $456,000 in 2019 |
Why the 1975 “No S” Proof Dime Stands Out
The most remarkable feature of this dime is its missing mint mark. Mint marks are used to identify the production facility of a coin, with “S” indicating the San Francisco Mint. For most proof coins, these marks are carefully placed, but for reasons that remain unclear, two dimes from the 1975 proof set were struck without the “S.” This mistake slipped past the mint’s quality control processes, turning an otherwise standard coin into a modern rarity.
From Vault to Record-Breaking Auction
The journey of the rare 1975 “No S” Proof Dime, which sold for $506,250 in 2024, is a story filled with intrigue. A collector acquired it in 1978 for $18,200, considering it both a valuable asset and a form of financial protection. The coin was stored away for over four decades in a bank vault. After the original collector’s passing, the dime passed on to his three sisters, who recognized its worth and consigned it to GreatCollections, an auction house. The coin quickly attracted global attention, ultimately selling for a record price.
A Coin with a History of High Demand
The rarity and allure of the 1975 “No S” Proof Dime have made it a regular feature at auctions. The other known example has set records before, selling for $349,600 in 2011 and $456,000 in 2019. Each sale reflects a growing fascination with the coin and the rising demand among collectors for rare minting errors.
What Drives the Coin’s Value?
Several factors contribute to the incredible value of the 1975 “No S” Proof Dime:
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- Rarity: Only two known examples exist, making it one of the rarest coins in modern U.S. history.
- Minting Error: The absence of the “S” mint mark is a striking anomaly, especially for a coin specifically created for collectors.
- Condition: Graded Proof-67 by the Professional Coin Grading Service (PCGS), the coin is in exceptional condition.
- Historical Significance: This coin represents an error in minting that has intrigued collectors and historians alike.
- Collector Demand: Coins with such unique features and mistakes always spark strong demand in the marketplace.
Minting Errors: The Collector’s Treasure
Coins with minting errors hold a unique appeal because they are deviations from the norm. Proof coins, in particular, are expected to be flawless, crafted with meticulous care for collectors. The 1975 “No S” Proof Dime broke this expectation, earning a reputation as one of the most coveted modern U.S. coins.
According to Ian Russell, president of GreatCollections, the chances of finding another example are incredibly slim, as most 1975 proof sets have already been thoroughly inspected.
What the Sale Means for Coin Collectors
The sale of the Rare 1975 “No S” Proof Dime serves as a reminder of the excitement and unpredictability of coin collecting. It highlights the importance of preserving older coins, as treasures like this one can sometimes remain hidden in forgotten collections.
Frequently Asked Questions about the 1975 “No S” Proof Dime
- What makes the 1975 “No S” Proof Dime unique? The missing “S” mint mark is the primary feature that makes this coin stand out and adds to its rarity and value.
- How many examples exist? Only two examples of this coin are known to exist.
- How much was it originally purchased for? The coin was bought in 1978 for $18,200, which would be about $90,000 today.
- Why are mint marks important? Mint marks indicate the coin’s production facility. A missing mint mark is a rare and valuable error, especially on proof coins.
- Could another example be found? While theoretically possible, experts believe it is highly unlikely, as most 1975 proof sets have already been examined.
Conclusion
The sale of the Rare 1975 “No S” Proof Dime is a perfect example of how a simple error can lead to incredible value. This tiny coin, which began as a mistake, has become a symbol of the allure and excitement of coin collecting. It also demonstrates the lasting importance of numismatics, showing that even modern coins can become highly prized artifacts. Perhaps there are hidden treasures in your own collection waiting to be discovered!