In the realm of numismatics, certain coins transcend their face value, becoming coveted treasures worth substantial sums.
One such remarkable example is the 1975 Roosevelt Dime, which, due to a rare minting error, has fetched over $500,000 at auction. T
his article delves into the intriguing story behind this dime, exploring its origins, the error that elevated its value, and its journey through the hands of collectors.
The Roosevelt Dime: A Brief Overview
Introduced in 1946, the Roosevelt Dime was minted to honor President Franklin D. Roosevelt. Standard dimes from the San Francisco Mint bear an “S” mint mark, distinguishing them from those produced in Philadelphia (“P”) and Denver (“D”).
However, in 1975, an extraordinary anomaly occurred: a small number of proof dimes were struck without the “S” mint mark. These error coins are now among the most sought-after modern U.S. coin rarities.
The 1975 No “S” Proof Dime: An Unexpected Rarity
Proof coins are specially minted for collectors, featuring sharp details and a mirror-like finish. In 1975, the San Francisco Mint produced approximately 2.84 million proof sets, each containing a dime, quarter, half dollar, nickel, and penny.
Among these, two dimes were mistakenly struck without the “S” mint mark, leading to the creation of the 1975 No “S” Proof Dime. This minting error has rendered these dimes exceptionally rare and valuable.
Record-Breaking Auctions
The rarity of the 1975 No “S” Proof Dime has led to staggering auction results:
| Year | Auction House | Coin Grade | Sale Price |
|---|---|---|---|
| 2019 | Heritage Auctions | PR68 | $456,000 |
| 2024 | GreatCollections | PR67 | $506,250 |
Note: Coin grades are based on the Professional Coin Grading Service (PCGS) scale, with PR68 indicating a near-perfect proof coin.
The 2024 Auction: A Family’s Hidden Treasure
In October 2024, GreatCollections auctioned one of the two known 1975 No “S” Proof Dimes. This particular coin had been owned by an Ohio family since 1978, when they purchased it for $18,200 as a financial safeguard.
The coin remained in a bank vault for over four decades until it was inherited by three sisters following their brother’s passing.
Recognizing its potential value, they consigned it to GreatCollections, where it sold for $506,250, setting a new auction record for this coin.
Factors Contributing to the Dime’s Value
Several elements have contributed to the astronomical value of the 1975 No “S” Proof Dime:
- Extreme Rarity: With only two known specimens, its scarcity significantly elevates its desirability among collectors.
- Minting Error: The absence of the “S” mint mark distinguishes it from millions of other dimes, making it a unique collector’s item.
- Condition: The coin’s high-grade proof status, with sharp details and a pristine finish, enhances its appeal and value.
- Provenance: The coin’s documented history and long-term storage added to its allure during the auction.
The story of the 1975 No “S” Proof Dime exemplifies how a simple minting error can transform an ordinary coin into a highly prized collectible.
Its journey from a bank vault in Ohio to a record-breaking auction highlights the enduring allure of rare coins and the potential treasures that may lie hidden in personal collections.
FAQs
Why is the 1975 No “S” Proof Dime so valuable?
Its value stems from its extreme rarity, minting error, high-grade condition, and documented provenance.
How can I identify a 1975 No “S” Proof Dime?
Examine the dime under magnification; if it lacks the “S” mint mark and has a proof finish, it could be this rare variety.
What should I do if I suspect I have a valuable coin?
Consult a professional coin grading service or a reputable numismatist for authentication and appraisal.