In the world of coin collecting, certain pieces rise far beyond their face value, becoming rare treasures that command extraordinary prices. One such example is the 1975 Roosevelt Dime, which, due to a rare minting error, has been sold for over $500,000 at auction. This article explores the fascinating story behind this dime, detailing its origins, the error that increased its value, and its journey through collectors’ hands.
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The Roosevelt Dime: An Overview
First minted in 1946, the Roosevelt Dime was introduced to honor President Franklin D. Roosevelt. Coins from the San Francisco Mint typically bear an “S” mint mark, distinguishing them from those produced in Philadelphia (“P”) and Denver (“D”). However, in 1975, a rare mistake occurred: a few proof dimes were struck without the “S” mint mark. These error coins have since become some of the most sought-after modern U.S. numismatic rarities.
The 1975 No “S” Proof Dime: An Unintentional Rarity
Proof coins are specially minted for collectors, boasting sharp details and a mirror-like finish. In 1975, the San Francisco Mint produced roughly 2.84 million proof sets, each containing a dime, quarter, half dollar, nickel, and penny. Among these, two dimes were mistakenly minted without the “S” mark, resulting in the creation of the elusive 1975 No “S” Proof Dime. This minting anomaly has made these dimes incredibly rare and valuable.
Record-Breaking Auctions
The scarcity of the 1975 No “S” Proof Dime has led to impressive auction results:
| Year | Auction House | Coin Grade | Sale Price |
|---|---|---|---|
| 2019 | Heritage Auctions | PR68 | $456,000 |
| 2024 | GreatCollections | PR67 | $506,250 |
Note: Coin grades follow the Professional Coin Grading Service (PCGS) scale, where PR68 signifies a near-perfect proof coin.
The 2024 Auction: A Long-Held Hidden Gem
In October 2024, GreatCollections auctioned one of the two known 1975 No “S” Proof Dimes. This specific coin had been owned by an Ohio family since 1978, when they acquired it for $18,200 as a long-term investment. For over four decades, it remained secured in a bank vault until it was inherited by three sisters following their brother’s passing. Recognizing its value, they consigned it to GreatCollections, where it ultimately sold for a record-breaking $506,250.
What Makes This Dime So Valuable?
Several factors contribute to the extraordinary value of the 1975 No “S” Proof Dime:
- Extreme Rarity: With only two confirmed specimens, its scarcity makes it highly desirable among collectors.
- Minting Error: The absence of the “S” mint mark sets it apart from millions of other dimes, making it a unique collector’s item.
- Condition: The proof coin’s high-grade status, sharp details, and pristine finish enhance its appeal and market value.
- Provenance: Its documented ownership history and long-term secure storage increased its desirability at auction.
The story of the 1975 No “S” Proof Dime exemplifies how a simple minting mistake can elevate an ordinary coin into a prized collector’s item. From its secure storage in Ohio to a record-setting sale, its journey underscores the enduring allure of rare coins and the hidden treasures that may be waiting in personal collections.
FAQs
Why is the 1975 No “S” Proof Dime so valuable?
Its extreme rarity, minting error, high-grade condition, and well-documented provenance contribute to its extraordinary worth.
How can I identify a 1975 No “S” Proof Dime?
Examine the dime under magnification; if it has a proof finish but lacks the “S” mint mark, it could be the rare variety.
What should I do if I suspect I have a valuable coin?
Seek authentication and appraisal from a professional coin grading service or a reputable numismatist.
