Rare 1894-S Dime Sells for $1.3 Million at Auction: Here’s the Story

Rare 1894-S Dime: A rare dime, struck at the San Francisco Mint in 1894, sold for an impressive $1,322,500 at a rare coin auction held in Baltimore, Maryland. This significant sale marked the highest price ever paid for a United States dime. The auction attracted attention from collectors and history enthusiasts, eager to learn more about the history behind this unique coin and its impressive journey to a seven-figure sale.

What Makes the 1894-S Dime So Special?

The Rare 1894-S Dime is one of the rarest coins in American history, with only 24 coins originally minted at the San Francisco Mint. These dimes were struck upon the request of the mint director, who intended to use them as gifts for visiting bankers. Today, only 10 of these coins are believed to have survived, making them a sought-after treasure among collectors.

The Sale and Auction Details

The Rare 1894-S Dime that sold for $1,322,500 was described as being in “nearly pristine condition.” The auction took place on a Monday, attracting a great deal of interest due to the rarity of the coin. The winning bidder, who chose to remain anonymous, participated via phone. The auction house responsible for the sale was David Lawrence Rare Coins, based in Virginia Beach, Virginia.

Table: Key Details of the 1894-S Dime Sale

Detail	Information
Year of Minting	1894
Location	San Francisco Mint, California
Number of Coins Minted	24
Estimated Remaining Coins	10
Sale Price at Auction	$1,322,500
Auction House	David Lawrence Rare Coins, Virginia Beach, Virginia
Auction Location	Baltimore, Maryland
Seller	Bradley Hirst, Richmond, Indiana
Previous Purchase Price	$825,000 (Purchased six years before the auction by Bradley Hirst)

The Background Story of the 1894-S Dime

In 1894, the San Francisco Mint struck only 24 dimes, making these coins incredibly rare. The mint director at the time intended to give these dimes as special gifts to visiting bankers. However, some of the coins ended up in private collections, passed down through generations. The small number of surviving coins means that they are highly valuable and attract significant interest whenever one surfaces in the market.

Condition Matters: Why Pristine Coins Are Valuable

The value of a coin depends heavily on its condition. The Rare 1894-S Dime sold in Baltimore was described as being in nearly perfect condition, with no major scratches or wear. Collectors prize such coins because they look almost as fresh as the day they were minted. The better the condition, the higher the value, which is why this particular coin fetched such an impressive price.

The Journey of the 1894-S Dime

Bradley Hirst, a resident of Richmond, Indiana, consigned the 1894-S dime to the auction. He had purchased the coin six years earlier for $825,000, a significant investment. The new sale price of over $1.3 million represents a substantial appreciation in value, highlighting the ongoing demand for rare and historic coins among collectors.

Why Are Collectors Willing to Pay Millions?

Coins like the Rare 1894-S Dime represent more than just currency; they are pieces of history. Each coin tells a story about the time it was made and the people who used it. For collectors, owning such a rare piece is like holding a part of American history in their hands. The rarity of the 1894-S dime, combined with its excellent condition, made it an irresistible prize for collectors willing to invest heavily.

Conclusion

The Rare 1894-S Dime sale for $1,322,500 showcases the incredible value that rare coins can hold, especially when they are in excellent condition and come with a rich history. This dime, minted in limited numbers and intended as a special gift, has now become a legendary collector’s item. The auction reflects the passion and dedication of numismatists who seek to preserve history through such rare finds, ensuring that stories of coins like the 1894-S dime continue to be shared and celebrated for generations.

VCS NEWS HOME

FAQs