In the numismatic world, certain coins stand out not just for their age but for unique anomalies that make them exceptionally valuable. One such coin is the 1975 No ‘S’ Proof Roosevelt Dime, which recently garnered significant attention after selling for over $500,000 at auction. This article delves into the details of this rare coin, its history, and how you might determine if you possess such a treasure.
The Significance of the 1975 No ‘S’ Dime
In 1975, the U.S. Mint in San Francisco produced over 2.8 million proof sets—special editions of coins minted for collectors. These proof coins are typically distinguished by an ‘S’ mint mark indicating their origin.
However, two dimes from that year’s proof sets were mistakenly struck without this mint mark, leading to the creation of the exceedingly rare 1975 No ‘S’ Proof Dime.
A Family’s Hidden Asset
The recent sale of one such dime traces back to a dairy farming family in Ohio. In 1978, the family’s matriarch and her son purchased the error coin for $18,200—equivalent to about $90,000 today—as a financial safety net.
The coin remained secured in a bank vault for over four decades, its existence known only to a select few. Following the brother’s passing, his three sisters inherited the coin, unaware of its substantial value until they consulted with numismatic experts.
The Auction and Its Outcome
The coin was consigned to GreatCollections, an auction house specializing in rare coins. After attracting considerable interest from collectors worldwide, the 1975 No ‘S’ Proof Dime sold for $506,250 in October 2024.
This sale set a new record for this particular coin, surpassing the $456,000 achieved by the only other known example in a 2019 auction.
Understanding Mint Marks and Their Importance
Mint marks are small letters on coins that indicate their place of production. For instance, coins minted in San Francisco bear an ‘S,’ those from Denver a ‘D,’ and Philadelphia-minted coins may have a ‘P’ or no mark at all.
Proof coins, intended for collectors, are produced with higher quality and typically include these mint marks. The absence of the ‘S’ on the 1975 proof dime is a significant error, making it a coveted rarity among collectors.
Could You Have One?
Given the rarity of the 1975 No ‘S’ Proof Dime—with only two confirmed examples—the likelihood of possessing one is minimal. However, it’s not impossible. If you own 1975 proof sets, it’s worth examining the dimes closely to check for the missing ‘S’ mint mark. Authenticating such a coin would require professional evaluation by a reputable numismatist or grading service.
Key Details of the 1975 No ‘S’ Proof Dime
| Attribute | Description |
|---|---|
| Year of Minting | 1975 |
| Mint Location | San Francisco (intended) |
| Mint Mark | Missing ‘S’ |
| Known Examples | Two |
| Original Purchase | $18,200 in 1978 (approx. $90,000 today) |
| Recent Auction Price | $506,250 in October 2024 |
| Notable Owners | Ohio family; coin remained in bank vault for over 40 years |
| Significance | Considered the rarest of modern U.S. coins due to minting error and limited quantity |
The Allure of Error Coins
Coins with minting errors often attract significant interest due to their rarity and the intriguing stories behind their creation. The 1975 No ‘S’ Proof Dime exemplifies how a small oversight can lead to a substantial increase in a coin’s value. Collectors prize such coins not only for their monetary worth but also for their unique place in numismatic history.
Conclusion
The story of the 1975 No ‘S’ Proof Dime underscores the potential hidden value in seemingly ordinary objects. For the Ohio family, a coin purchased as a financial safeguard decades ago transformed into a half-million-dollar treasure.
While the chances of discovering another such dime are slim, this tale serves as a reminder of the surprises that can emerge from the world of coin collecting.
FAQs
What makes the 1975 No ‘S’ Proof Dime so valuable?
Its rarity, being one of only two known dimes missing the ‘S’ mint mark from the San Francisco Mint, significantly enhances its value.
How can I determine if my 1975 dime is a No ‘S’ Proof Dime?
Examine the area above the date on the coin’s obverse (front side). If the ‘S’ mint mark is absent, it could be a rare error coin. Professional authentication is recommended.
Why are mint marks important on coins?
Mint marks indicate the coin’s place of production and are crucial for identifying and valuing coins, especially for collectors.
Where can I sell a rare coin if I find one?
Reputable auction houses specializing in numismatics, such as GreatCollections, can assist in selling rare coins.
Are there other coins with similar minting errors?
Yes, other coins with missing mint marks exist, such as certain 1968, 1970, 1971, 1983, and 1990 proof coins. However, the 1975 No ‘S’ Proof Dime is among the rarest.
