Born From Unearthed Treasures: $500,000 on a 1975 No S Proof Dime.
It’s just a ten-cent coin lying quietly in anybody’s pocket and hasn’t affected anyone’s life, but course has rocked the world of coin collectors. This incredible coin, the 1975 No S Proof Dime, sold for more than half a million dollars-526,250 to be exact-in a sale held in October of 2024, thus making it one of America’s richest and most talked-about coins in history.
The exceptional value of this coin did not derive from its design, but rather from a specific flaw. This is because there is no “S” mint mark, which indicates a coin minted at the San Francisco Mint. This minting mix-up has made it “Holy Grail” for collectors.
The Role of Mint Marks
- Mint marks identify the location of a coin’s production:
- “S” = San Francisco
- “D” = Denver
- “P” = Philadelphia
- In 1975, a production error resulted in only two proof dimes being struck without the “S” mint mark.
- This rare anomaly makes the coin exceptionally valuable.
Journey of the Rare 1975 “No S” Proof Deme
| Feature | Details |
|---|---|
| Year of Minting | 1975 |
| Mint | San Francisco (intended) |
| Unique Feature | Missing the “S” mint mark |
| Design | Portrait of Franklin D. Roosevelt |
| Distribution | Part of 2.8 million proof sets |
| Known Examples | Only two confirmed worldwide |
| Original Purchase | $18,200 in 1978 |
| Sale Price (2024) | $506,250 |
| Previous Record | $456,000 (2019) |
How Did an $18,200 Coin Become Worth $506,250?
The coin was first purchased in 1978 for $18,200 and remained locked away in a bank vault for over four decades.
- 2024: The family of the original collector consigned the coin to the Great Collections Auction House.
- Sold for $506,250: The sale broke all previous records and became the center of attention. This Coin Has Made Headlines Before
- 2011: Sold for $349,600.
- 2019: Sold for a record-breaking $456,000.
Factors Driving the Value of the “No S” Proof Dime
- Rarity
With only two known examples, this coin is one of the rarest in existence.
- Minting Error
The missing “S” mint mark is a unique and significant mistake.
- Condition
Graded Proof-67 by PCGS, the coin’s pristine condition adds to its value.
- Historical Significance
The coin represents a rare error in minting precision.
- Demand
Unique and rare coins always command a premium in the collector’s market.
Minting Errors: A Collector’s Treasure
Minting errors hold special significance for collectors because they deviate from the standard minting process.
- Proof coins, in particular, are created with exceptional precision for collectors, making any error extremely rare.
- The 1975 “No S” Proof Dime is a prime example of this phenomenon.
According to Ian Russell, President of Great Collections, the chances of finding another example are extremely slim.
Impact on the Coin Collecting World
The sale of this coin has reignited interest in modern coin collecting.
- It proves that even relatively modern coins can achieve historical value.
- Emphasizes the importance of preserving and researching older coins, as hidden treasures may still be out there.
Conclusion
A $506,250 Piece of History
The 1975 “No S” Proof Dime demonstrates how a small error can transform an ordinary coin into something extraordinarily valuable.
- With only two known examples, this coin is not just a collector’s dream but a part of history.
- Its recent auction proved that the world of coin collecting holds limitless possibilities.
FAQs
Q.1 What is the 1975 “No S” Proof Dime?
A.1 It is a ten-cent coin struck in 1975 without the “S” mint mark, which should have been present to indicate it was minted at the San Francisco Mint.
Q.2 Why is the “S” mint mark significant?
A. Mint marks identify the location where a coin was produced. The absence of the “S” on this proof coin makes it exceptionally rare and unique.
Q.3 How much did this coin sell for?
A.3 In 2024, the coin sold for an incredible $506,250.