Three sisters from Ohio recently inherited a dime that had been kept in a bank vault for over 40 years, and they knew it had some value. However, they were unaware of just how valuable it was until a few years ago. The coin, struck by the U.S. Mint in San Francisco in 1975, is an extraordinarily rare dime depicting President Franklin D. Roosevelt. What makes it so valuable is a missing “S” mint mark for San Francisco, with only two of these dimes known to exist. The other one was sold at an auction in 2019 for $456,000 and then to a private collector. The whereabouts of these rare dimes had been a mystery since the late 1970s, with most collectors and dealers never having seen one.
According to Ian Russell, president of GreatCollections, which specializes in currency and is handling an online auction for the dime, the coin could bring in more than $500,000. The mint in San Francisco produced over 2.8 million special uncirculated “proof” sets in 1975 that included six coins and were sold for $7 each. Collectors later discovered that two dimes from the set were missing the mint mark, making them highly valuable. The sisters from Ohio inherited one of these dimes after the recent death of their brother and want to remain anonymous due to the sudden windfall. Their parents, who owned a dairy farm, purchased the first error coin found in 1978 for $18,200, which would amount to approximately $90,000 today.
One of the sisters mentioned that her brother often spoke about the rare coin, but she never saw it in person until last year. Russell, who was contacted by their brother about seven years ago regarding the coin, revealed its potential value to one of the sisters a few years ago. Upon hearing about the significant worth of the coin, she was surprised and questioned if it was possible. The coin, known as the “1975 ‘no S’ proof dime,” will be displayed at a coin show in Tampa, Florida, starting Wednesday, before the online auction closes in late October. Russell stated that while there is a possibility of more examples of the rare dime being out there, they would only be found among the 1975 “proof” sets and not in regular circulation. However, he anticipates that this latest discovery will spark a lot of searching among collectors and dealers.
The value of the dime has intrigued both serious coin collectors and ordinary individuals alike, as it represents a rare and unique piece of numismatic history. The story of the Ohio sisters inheriting this valuable coin and the mystery surrounding its rarity has captured the attention of the public. The unexpected windfall for the sisters, who had no idea of the coin’s worth until recently, highlights the potential for hidden treasures in unexpected places. The coin’s journey, from being kept in a bank vault for over 40 years to being recognized as a highly valuable and sought-after collectible, adds to its allure and appeal. The upcoming auction of the coin is expected to generate significant interest and could potentially set a new record for the sale of similar rare dimes.
Russell’s company, GreatCollections, specializes in rare and valuable currency, and their involvement in the auction adds credibility and expertise to the process. The display of the coin at the upcoming coin show in Tampa will offer collectors and enthusiasts the opportunity to see the dime in person and witness its historical significance. The coin’s status as one of only two known examples of the rare “no S” proof dime from 1975 further elevates its value and desirability among collectors. As the auction draws closer to its conclusion in late October, the excitement and anticipation surrounding the sale of this exceptional coin are expected to continue to grow. The discovery of such a valuable and rare piece of numismatic history serves as a reminder of the potential treasures that may be hidden in collections and vaults around the world.
