Three sisters from Ohio discovered the significant value of a rare dime inherited from their family, which had been stored in a bank vault for over 40 years. This coin, minted in San Francisco in 1975, is estimated to fetch over $500,000 at an upcoming online auction hosted by GreatCollections. The high value stems from its unique feature: it lacks the “S” mint mark, marking it as one of only two known examples without this designation.
The dime features the image of President Franklin D. Roosevelt and is part of a set produced by the U.S. Mint, which created over 2.8 million special uncirculated proof sets that year. Each set included six coins and was offered for around $7. The rarity of the dimes, however, was not recognized until later when collectors identified two from these sets that were missing the mint mark. The other known coin was sold for $456,000 in a 2019 auction, reflecting the significant interest among collectors for rare coins.
The sisters inherited the dime following their brother's recent passing, wishing to keep their identities private. Their family had acquired the first known error coin in 1978 for $18,200, which would be equivalent to approximately $90,000 today, exemplifying how even humble beginnings can lead to substantial windfalls through strategic collecting. The family had viewed the coin as a financial safeguard amid the challenges of operating a dairy farm.
Ian Russell, president of GreatCollections, recalls discussions with the sisters about the coin's potential worth, expressing that many serious coin collectors had never encountered such a rare piece, echoing the sentiment that these valuable coins had been obscured for decades. As experts continue to investigate the 1975 ‘no S’ proof dime, it poses a thrilling opportunity for collectors worldwide to discover more examples, although they would primarily be hidden within the original proof sets from that year.
The upcoming display in Tampa, Florida, will offer enthusiasts a chance to view this rare coin prior to its auction later this October. There is an underlying anticipation that this discovery may inspire an increase in searches for similar rare coins, although experts agree that the likeliest places to find them are the original 1975 proof sets, not in everyday currency, such as pocket change.
As the coin collecting community waits in anticipation of the auction results, this instance serves as a testament to the enduring allure of rare coins and the often surprising stories that accompany them. Collectors know that the world of coins is filled with treasures waiting to be unearthed, showcasing the fine line between history, art, and monetary value.