A rare coin that had been tucked away for over 40 years recently sold for a staggering amount of over $500,000. This special coin, a 1975 dime, was purchased by a farming family in 1970 and kept in a bank vault for decades. What makes it so valuable? The dime is missing an important mintmark, making it one of only two known to exist. Here’s the story of how this forgotten coin ended up being worth half a million dollars.
The Unique 1975 Dime: A Rare Find
The coin that recently sold at auction is a 1975 dime minted at the U.S. Mint in San Francisco. What makes this coin so unique is that it is missing the “S” mintmark. Typically, this mintmark shows that the coin was produced at the San Francisco Mint. However, this dime doesn’t have it, making it one of only two known to exist without this mark. This mistake, combined with the coin’s historical significance, greatly increases its value in the eyes of collectors.
The Coin’s Journey: From Family Vault to Auction
The rare dime was initially bought by a family in Ohio. The family, who were farmers raising dairy cows, held onto the coin for over 40 years. It was kept in a bank vault, passed down through generations. In 1978, the family purchased the coin for $18,200, which would be roughly $90,000 today when adjusted for inflation. Over the years, the coin remained a cherished family asset. Eventually, the coin was sold in 2024 through an online auction. The winning bid? A jaw-dropping $506,250.
Comparing Prices: A Previous Sale and the Value of Rarity
Interestingly, the only other 1975 “no-S” dime ever sold was auctioned off in 2019 for $456,000. The rarity of these coins, combined with the fact that millions of dimes were minted in 1975, makes these two “no-S” dimes incredibly valuable. The San Francisco Mint produced over 2.8 million “proof” sets in 1975, but only two coins lacked the mintmark. This mistake is what makes them so desirable among coin collectors, driving up the price when they are sold.
Key Facts About the Coin
- Year of Minting: 1975
- Mint: San Francisco Mint (but missing the “S” mintmark)
- Purchase Price in 1978: $18,200 (around $90,000 today)
- Final Sale Price: $506,250
- Auction Date: 2024
FAQ’s
Why is the 1975 dime so valuable?
The 1975 dime is valuable because it lacks the “S” mintmark, making it one of only two known to exist. This rarity makes it highly sought after by collectors.
How much did the 1975 “no-S” dime sell for?
The 1975 “no-S” dime recently sold for $506,250 in an online auction
How did the coin come to be in the family’s possession?
The coin was purchased by the family in 1978 for $18,200 as a long-term investment. They kept it in a bank vault for over 40 years before selling it in 2024.