A 1975 Roosevelt Dime, once valued at just ten cents, recently captured the attention of the numismatic world after being sold for a jaw-dropping $506,250 in an online auction on October 27. This seemingly ordinary dime, minted in San Francisco, became a rare and highly prized collectible due to a unique minting error. Its final price was a staggering 5 million times its face value, making it one of the most extraordinary finds in modern coin collecting.
What Makes the 1975 No-S Dime Unique?
At first glance, this dime looks similar to millions of others minted in the same year, featuring Franklin Delano Roosevelt’s portrait on the obverse. However, this particular coin stands out because it lacks the “S” mintmark—a mark that typically indicates it was struck at the San Francisco Mint. The absence of this mintmark makes it one of only two known examples of such a coin, elevating its rarity and increasing its desirability among collectors.
Why Is the “S” Mintmark Missing?
U.S. coins traditionally feature a mintmark to identify their place of origin:
- D for Denver
- P for Philadelphia
- S for San Francisco
- W for West Point
In 1975, the U.S. Mint in San Francisco produced over 2.8 million proof coin sets, which were sold to collectors at a price of $7 each. Proof coins are specially struck with superior detail and finish, making them ideal for collectors. Among these sets, two dimes were mistakenly minted without the “S” mintmark, an error that turned these otherwise regular coins into numismatic treasures.
A Family Heirloom Turns Into a Fortune
This particular 1975 No-S Dime had a remarkable history. It was inherited by three sisters from Ohio following their brother’s death. Their brother had purchased the dime in 1978 for $18,200—a significant sum at the time, roughly equivalent to $90,000 today. He stored the coin securely in a bank vault for over 40 years, considering it both a family heirloom and a potential financial asset.
Breaking Records in the Collectors’ Market
The recent auction of this coin is not the first time a 1975 No-S Dime has made headlines. In 2019, the other known example of this rare dime sold for $456,000. That coin was later resold privately to a collector. The continued high value of these error coins demonstrates the intense demand within the numismatic market for rare minting mistakes, further cementing their place as highly valuable collectibles.
Expert Insights: Finding the Next No-S Dime
According to Ian Russell, president of GreatCollections, the odds of finding another 1975 No-S Dime are extremely slim. He suggests that collectors interested in finding such coins might search through old 1975 proof sets, many of which could still be stored in private collections or forgotten storage units. However, given the rarity and historical significance of these coins, such a discovery is highly unlikely, only increasing the appeal and value of the two known examples.
Key Facts About the 1975 No-S Dime
| Feature | Details |
|---|---|
| Coin | 1975 Roosevelt Dime |
| Unique Feature | Missing “S” mintmark |
| Known Examples | Two |
| Original Proof Set Price | $7 |
| Recent Auction Price | $506,250 |
| Previous Record Sale (2019) | $456,000 |
| Year of Error Discovery | 1975 |
A Lesson in Opportunity and Value
The incredible story of the 1975 No-S Dime serves as a fascinating reminder of how even the smallest minting errors can lead to massive value in the world of coin collecting. What was once a 10-cent coin is now worth hundreds of thousands of dollars, illustrating how a sharp eye for detail and an appreciation for numismatic history can uncover treasures hidden in plain sight.
For collectors, enthusiasts, and even casual observers, this tale is a testament to the unexpected opportunities that exist within the world of rare coins. Who knows? The next big discovery could be waiting in your collection—or in your pocket.
FAQ: The 1975 No-S Dime That Sold for $506,250
1. What is the 1975 No-S Dime and why is it so valuable?
The 1975 No-S Dime is a rare error coin that lacks the usual “S” mintmark, which indicates it was produced at the San Francisco Mint. This error makes it one of only two known examples, giving it immense value. It recently sold for $506,250, significantly more than its original face value of ten cents.
2. How did the “S” mintmark error occur?
The absence of the “S” mintmark on this dime was a minting mistake that occurred when proof sets were produced at the San Francisco Mint in 1975. These sets, meant for collectors, usually had the mintmark, but two dimes were accidentally struck without it, creating a rare error.
3. How rare is the 1975 No-S Dime?
The 1975 No-S Dime is extremely rare, with only two known examples in existence. This rarity has made it highly sought after among collectors and has led to record-breaking sales.
4. How much did the 1975 No-S Dime sell for?
The 1975 No-S Dime sold for a record $506,250 in an online auction on October 27, making it one of the most valuable dimes in numismatic history.
5. What was the history of the dime before it was sold?
This particular dime was purchased in 1978 for $18,200 by a man who considered it a family treasure and stored it in a bank vault for over 40 years. After his passing, the coin was inherited by his three sisters, who later sold it for the record-breaking price.
6. What is the significance of the 1975 No-S Dime in the coin collecting world?
The 1975 No-S Dime is highly valued because it showcases an error that is both rare and historically significant. It represents a unique part of minting history and exemplifies how small errors can lead to extraordinary value in numismatics.
7. Has the 1975 No-S Dime been sold before?
Yes, the other known example of this coin was sold in 2019 for $456,000. This sale also attracted significant attention and demonstrated the strong demand for error coins in the numismatic market.
8. How can I find a rare coin like the 1975 No-S Dime?
Finding another 1975 No-S Dime is very unlikely due to its extreme rarity. However, collectors might search through old 1975 proof sets that could still be hidden in private collections or forgotten storage. Despite this, the chances of discovering another one are slim, making them incredibly valuable when found.
9. What does the sale of the 1975 No-S Dime mean for coin collectors?
The record-breaking sale of the 1975 No-S Dime serves as a reminder of the potential value of error coins and the importance of careful examination of coins in one’s collection. It highlights the opportunities that exist in the world of coin collecting and can inspire collectors to take a closer look at their own holdings for possible hidden treasures.
10. What should collectors know about investing in rare coins?
When investing in rare coins, collectors should focus on the rarity, historical significance, and condition of the coins. Consulting with numismatic experts and ensuring coins are properly graded can help maximize their value. The 1975 No-S Dime demonstrates how even a relatively small error can lead to substantial profits, underlining the importance of paying attention to details in the coin collecting field.