An extremely rare dime that had been hidden away for more than 40 years has sold for over half a million dollars at auction. The 1975 Roosevelt dime, struck at the U.S. Mint in San Francisco, is one of only two known examples that lack the usual “S” mint mark.
The whereabouts of this elusive coin had been unknown since the late 1970s. However, it was recently discovered in a bank vault in Ohio, where it had been kept for safekeeping by a family that inherited it.
A fortune hidden in a bank vault
Three sisters from Ohio inherited the rare dime after the passing of their brother, who had stored it securely in a vault for decades. When the family first acquired the coin in 1978, they purchased it for $18,200, which would be worth approximately $90,000 today.
On Sunday, the coin was auctioned online by GreatCollections, a California-based auction house. After an intense bidding war that saw 212 bids placed, the dime finally sold for $506,250.
One of only two known examples
The 1975 Roosevelt dime with no “S” mint mark is one of the rarest error coins in U.S. history. The only other known example was sold in 2019 for $456,000, later reselling for $516,000 to a collector who now owns the only complete Roosevelt Dime collection.
In 1975, the San Francisco Mint produced more than 2.8 million proof sets, which included six coins and were sold for just $7. However, two dimes from these sets were mistakenly struck without the “S” mint mark, making them extraordinarily valuable to collectors.
A family’s unexpected windfall
The Ohio sisters, who wished to remain anonymous, were initially skeptical when they learned about the potential value of their inherited coin. According to Ian Russell, president of GreatCollections, one of the sisters was astonished when told it could sell for such a high amount.
Their parents, who ran a dairy farm, originally saw the coin as a financial safety net. Decades later, their investment paid off far beyond their expectations.
Could more be Out There?
While there is always a possibility that additional examples of the 1975 “No S” dime exist, they would only be found in proof sets, not in circulation. This means casual coin collectors checking their spare change won’t stumble upon one.
Despite this, the record-breaking sale may inspire collectors to search through old proof sets in hopes of uncovering another hidden treasure.
A record-breaking auction
The auction of this rare dime has sparked significant interest in the numismatic community. With only two known examples and a rising demand for rare error coins, future sales could see even higher prices.
For now, the Ohio family’s extraordinary discovery stands as a testament to the lasting value of rare coins—and the surprises that can be hidden away in vaults for decades.
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