A 1975 Roosevelt Dime, originally valued at just ten cents, recently made headlines after being sold for a staggering $506,250 in an online auction on October 27. This coin, minted in San Francisco, became a numismatic treasure due to a rare error that sets it apart from ordinary dimes. Its incredible value is about five million times its face value, making it a prized possession for collectors worldwide.
What Makes the 1975 No-S Dime Unique?
At first glance, this dime appears no different from the millions of others minted in the same era, featuring Franklin Delano Roosevelt on the obverse. However, it lacks the “S” mint mark, which indicates it was produced at the San Francisco Mint. This absence makes it one of only two such coins known to exist, solidifying its status as a rarity.
Why Is the “S” Mint Mark Missing?
U.S. coins typically bear a mint mark to signify where they were produced:
- 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 intended for collectors, priced at $7 each. Proof coins are specially struck to feature exceptional detail and finish. Among these sets, two dimes were mistakenly minted without the “S” mint mark. This error elevated their significance in numismatic history, turning them into legendary collectibles.
A Family Heirloom Turns into a Fortune
This particular dime had an extraordinary journey. It was inherited by three sisters from Ohio after their brother’s passing. Their brother had purchased it in 1978 for $18,200—an investment worth approximately $90,000 in today’s money. He stored it securely in a bank vault for over 40 years, considering it a family treasure and a potential financial safety net.
Breaking Records in the Collectors’ Market
The recent sale is not the first time a No-S Roosevelt Dime has captured attention. In 2019, the other known example of this coin fetched $456,000 at auction, only to be resold shortly afterward to a private collector. These remarkable sales demonstrate the profound fascination and high value attributed to minting errors within the numismatic community.
Expert Insights: Finding the Next No-S Dime
According to Ian Russell, president of GreatCollections, the odds of discovering another 1975 No-S Dime are slim. He suggests searching through old proof sets from 1975, which might still be hidden in private collections or forgotten storage. However, the rarity and historical significance of this coin make such a discovery highly unlikely, further increasing its allure and worth.
Key Facts About the 1975 No-S Dime
| Feature | Details |
|---|---|
| Coin | 1975 Roosevelt Dime |
| Unique Feature | Missing “S” mint mark |
| 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
This extraordinary tale of the 1975 No-S Dime highlights how even the smallest errors can create enormous value. What was once a 10-cent coin is now a testament to the unexpected fortunes that can arise from a keen eye for detail and historical intrigue. For collectors and enthusiasts, this story serves as a reminder that treasures can often be hidden in the most unassuming places.
FAQs
Why is the 1975 No-S Dime so valuable?
The coin’s value stems from its extreme rarity, with only two known examples in existence, and its unique minting error—the absence of the “S” mint mark.
What is a proof coin?
Proof coins are specially struck coins designed for collectors, featuring sharper details and a polished finish compared to regular circulation coins.
How many 1975 proof sets were produced?
Over 2.8 million proof sets were issued in 1975 by the U.S. Mint in San Francisco.
