A rare 1975 dime, notable for its absence of the customary "S" mint mark, has been sold at auction for $506,250. This coin is one of only two known examples of its kind, making it a significant find in the numismatic community.

Discovery and Provenance

The dime was inherited by three sisters from Ohio following the death of their brother, who had safeguarded the coin in a bank vault for over four decades. Their parents, dairy farmers, originally purchased the coin in 1978 for $18,200, viewing it as a financial investment. Over the years, the coin remained largely unseen, with one of the sisters only laying eyes on it for the first time last year.

Auction Details

The online auction, managed by a California-based auction house, concluded with the dime selling for $506,250. This sale surpasses the previous record for a similar coin, which sold for $456,000 in 2019. The auction attracted significant attention from collectors and investors, underscoring the enduring allure of rare numismatic pieces.

Historical Context

In 1975, the San Francisco Mint produced over 2.8 million proof sets, each containing six coins, including the dime. These sets were intended for collectors and featured the "S" mint mark denoting their origin. However, two dimes from these sets were discovered to lack the "S" mint mark, rendering them exceptionally rare. The exact cause of this minting anomaly remains unknown, adding to the coin's mystique and value.

Market Implications

The sale of this rare dime highlights the robust market for numismatic rarities. Coins with unique features or errors often command high prices, reflecting their scarcity and the demand among collectors. This transaction may prompt renewed interest in examining existing collections for overlooked treasures and could lead to increased scrutiny of proof sets from the era.

Conclusion

The auction of the 1975 "no S" dime for over half a million dollars underscores the significant value that rare coins can hold. It serves as a reminder of the potential hidden within personal collections and the enduring fascination with numismatic anomalies.