In a fascinating tale of inheritance and discovery, three sisters from Ohio recently sold a rare 1975 dime for an astonishing $506,250. The dime, which was kept in a family vault for over 40 years, was found to have a rare minting error: it lacked the “S” mint mark, which is usually used to indicate coins made in San Francisco. Only two such dimes exist, making it an incredibly valuable piece of history.
A Hidden Family Treasure
The rare dime was passed down to the sisters after their brother’s passing. Their family had kept it in a bank vault for decades, unaware of its true worth. Purchased in 1978 for $18,200, the coin was originally intended as a form of financial security. The sisters, coming from a modest dairy farm background, had no idea that the dime, which was stored away in a safety deposit box, would one day provide them with such a large windfall.
Why the Dime is So Special
What makes this dime unique is the lack of an “S” mint mark. In 1975, the U.S. Mint produced proof coins for collectors, and over 2.8 million dimes were minted with an “S” mint mark to indicate they were made in San Francisco. However, due to an error, two dimes were made without the mark, making them extremely rare. Collectors highly value coins with such errors because of their scarcity and historical significance.
The Auction and Its Result
The coin was auctioned by GreatCollections, a company known for its high-end coin auctions. The sale attracted significant attention from collectors, all vying for the rare dime. After fierce bidding, the coin sold for $506,250. This price reflects both the rarity of the dime and the enthusiasm of collectors who seek out error coins for their collections.
The History of Minting Errors
Minting errors like the missing mint mark on this dime are not unusual in the world of coin production. In fact, mistakes made during the minting process often increase the value of a coin. Error coins have been collected for centuries, and many of them fetch high prices at auctions. In this case, the missing “S” mint mark made this particular dime highly valuable, with numismatists (coin experts) eager to own such a unique piece.
Conclusion
The story of the 1975 rare dime is a powerful reminder that hidden treasures can often be found in the most unexpected places. Objects that might seem ordinary at first glance, like a simple coin, can sometimes be worth a fortune. For the three sisters, the rare dime was more than just money; it was a link to their family’s past, and its sale allowed them to secure their future. This story also shines a light on the fascinating world of coin collecting, showing how even small errors can lead to big rewards.
FAQs
What makes the 1975 dime so valuable?
The 1975 dime is rare because it lacks the typical “S” mint mark, indicating it was made in San Francisco. Only two such dimes are known to exist, making them highly valuable among collectors.
How much did the dime sell for?
The dime was sold for $506,250 in an online auction, reflecting its rarity and the interest from collectors.
Why was this dime kept in a bank vault?
The dime was passed down through a family and kept in a bank vault for over 40 years as a potential safeguard for the family’s financial future.