Rare 1975 Dime: A rare 1975 dime, kept hidden in a bank vault by an Ohio family for more than four decades, is expected to fetch over $500,000 at an upcoming auction. The three sisters who inherited the coin had little knowledge of its immense value until recently. This dime, struck at the U.S. Mint in San Francisco in 1975, is extraordinarily valuable due to a missing mint mark, making it one of only two known to exist. The coin’s unexpected discovery and upcoming auction have sparked excitement among coin collectors and enthusiasts alike.
The Discovery of the Rare Coin
A Family’s Hidden Treasure
Rare 1975 Dime: The story begins with three sisters from Ohio who inherited the rare dime after the death of their brother. The coin had been stored in a bank vault for more than 40 years. Although they knew the coin had some value, the sisters were unaware of its true worth until recently. What makes this coin so special is the absence of the “S” mint mark, which indicates it was struck at the San Francisco Mint. Only one other similar dime exists, and it sold for $456,000 at a previous auction in 2019.
The Significance of the Missing Mint Mark
The missing mint mark is the key to this dime’s extraordinary value. In 1975, the U.S. Mint in San Francisco produced over 2.8 million proof sets—special coin sets made for collectors that are not intended for general circulation. Each proof set contains six coins, and every dime from the San Francisco Mint is supposed to bear an “S” mint mark. However, two dimes were mistakenly struck without this mark, making them incredibly rare. Proof sets are highly sought after by collectors because they showcase the finest quality coins with sharp details and a mirror-like finish.
The Coin’s Journey Over the Decades
From Purchase to Inheritance
The rare dime was purchased in 1978 by the sisters’ mother and brother for $18,200, which would be worth about $90,000 today when adjusted for inflation. Their family operated a dairy farm, and they saw the coin as a financial safety net—a long-term investment that could bring security in the future. However, the true value of this investment remained unknown for decades.
One of the sisters revealed that their brother often spoke about the rare coin, but she had never seen it in person until last year. The family had kept the coin’s existence largely a secret, with only a few people knowing about it. The brother had reached out to Ian Russell, the president of GreatCollections, around seven years ago, seeking an appraisal of the coin’s value.
A Secret Worth $500,000
Rare 1975 Dime: When Russell shared the coin’s potential value with the family just a few years ago, one of the sisters was in disbelief. She reportedly asked, “Is that really possible?” Now, with the coin set to go up for auction in October, the sisters are expecting a life-changing windfall. The coin will be sold through Great Collections, an online auction house specializing in rare coins and currency.
The Auction and Public Display
Excitement Among Coin Collectors
The 1975 “No S” Proof Dime will be displayed at a major coin show in Tampa, Florida, beginning on Wednesday. This event will give collectors and enthusiasts a rare opportunity to see the coin in person before it goes up for auction. Ian Russell expects the dime to fetch more than $500,000, potentially setting a new record. Given its rarity, even experienced coin collectors have never seen one of these dimes in person.
The online auction will close in late October, with bidding expected to be fierce. The coin’s previous sale for $456,000 at a 2019 auction highlights the strong demand for this particular item among collectors.
Potential for More Discoveries
Rare 1975 Dime: While only two examples of the 1975 “No S” Proof Dime have been found, there is still a possibility that more exist. However, these rare coins would only be found within the proof sets issued in 1975. They are not in general circulation, so the average person wouldn’t come across them in their pocket change. Still, the discovery of this coin could reignite a treasure hunt among collectors, as people revisit old proof sets in the hope of finding another “No S” dime.
The Impact of the Auction
A Life-Changing Windfall for the Ohio Sisters
The Ohio sisters, who wish to remain anonymous, are preparing for the significant financial impact this auction could bring. For over 40 years, their family held onto the coin, never fully realizing how much it could be worth. Now, with a potential payout of more than $500,000, the coin has become a life-changing asset. The auction will not only provide financial security for the sisters but also add to the legacy of their family’s rare investment.
A Historical Moment for Coin Collectors
Rare 1975 Dime: For coin enthusiasts, the sale of the 1975 “No S” Proof Dime is a historic event. Rare coin auctions often generate excitement, and this particular coin is expected to draw significant attention due to its scarcity and the intrigue surrounding its discovery. Collectors around the world will be watching closely to see if this dime sets a new auction record.
Table: Key Details of the 1975 “No S” Proof Dime
| Detail | Information |
|---|---|
| Year of Minting | 1975 |
| Mint | U.S. Mint, San Francisco |
| Mint Mark | None (“No S” mark) |
| Type | Proof Dime |
| Known Examples | 2 |
| Previous Auction Price | $456,000 (2019) |
| Estimated Auction Price | Over $500,000 (2024) |
| Auction House | GreatCollections |
| Auction Closing Date | Late October 2024 |
| Public Display | Coin show in Tampa, Florida |
Conclusion
Rare 1975 Dime: The upcoming auction of the rare 1975 “No S” Proof Dime is a thrilling event for both the Ohio family who owns it and the coin-collecting community. With only two known examples of this dime, its estimated value of over $500,000 has sparked great interest. As the auction date approaches, collectors and enthusiasts will be eagerly awaiting the final outcome, hoping to see this extraordinary piece of history break records. The story of this dime serves as a reminder that even the smallest coins can hold immense value and life-changing potential.
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FAQs
Why is the 1975 “No S” Proof Dime so valuable?
The 1975 “No S” Proof Dime is extremely valuable because it was mistakenly struck without the “S” mint mark, which is supposed to indicate that it was made at the San Francisco Mint. Only two of these dimes are known to exist, making it highly rare and sought after by collectors.
How much is the rare 1975 dime expected to sell for?
The dime is expected to sell for more than $500,000 at auction. A similar coin sold for $456,000 in 2019, and the current coin could set a new record.
Where will the coin be auctioned?
The coin will be auctioned online through GreatCollections, a company that specializes in rare coins and currency. The auction will close in late October 2024.
Can more 1975 “No S” Proof Dimes be found?
There is a possibility that more “No S” Proof Dimes exist, but they would only be found in the special proof sets issued by the U.S. Mint in 1975. They are not in general circulation, so you won’t find one in everyday pocket change.
How long was the coin hidden before its discovery?
The coin was stored in a bank vault for over 40 years by an Ohio family who inherited it from their brother. Although they knew it was valuable, they didn’t realize how much it was worth until recently.