The 1975 'No S' Proof Dime: A Coin with a Remarkable Error
Nov 09, 2024 am 06:42 AM
Minted in San Francisco, the 1975 proof dime was part of a larger collection that includes proof sets issued by the United States Mint. However, two of the dimes in this set were discovered to be missing their “S” mint mark—a feature that usually indicates the San Francisco Mint’s origin.
In a remarkable event, a rare 1975 proof dime recently sold at auction for an astonishing $500,000, setting a new record for a modern rarity coin. The coin, minted in San Francisco, is one of only two known examples with a significant error: the omission of its “S” mint mark. This rare mistake has transformed the dime into a coveted collector’s item, underscoring the growing value of numismatic rarities.
The 1975 proof dime was part of a larger collection that includes proof sets issued by the United States Mint. However, two of the dimes in this set were discovered to be missing their “S” mint mark—a feature that usually indicates the San Francisco Mint’s origin. This omission, a striking error in coin production, has elevated the value of the dime, as mint marks are key identifiers for coin collectors.
Out of the two dimes with the “no S” error, this particular piece was among the most well-preserved, making it an extraordinary find. The rarity of the dime, combined with the story behind its discovery, contributed to its record-breaking auction price.
The sale of the 1975 “no S” proof dime took place at GreatCollections, a well-known auction house specializing in rare coins. On October 27, 2024, this exceptional coin found a new owner for an astounding $500,000. The coin was jointly owned by three sisters from Ohio, who inherited it from their late brother. Their decision to sell the dime not only made waves in the numismatic world but also provided a fascinating glimpse into the legacy of coin collecting.
Ian Russell, president of GreatCollections, expressed his excitement about handling this unique coin. He compared it to previous notable auctions, including the sale of two 1913 nickels and two 1804 silver dollars, but emphasized that the 1975 “no S” proof dime was a first for their company. Russell’s enthusiasm mirrored the significance of the sale in the broader coin-collecting community.
The journey of this rare dime began in 1978 when the sisters’ mother and brother purchased it for $18,200—an amount that would be roughly $90,000 when adjusted for inflation. The family considered the coin a financial safety net for their dairy farm, as it represented a valuable asset in uncertain times. Although one of the sisters had never seen the coin until recently, their brother frequently discussed its importance. The coin was kept safely stored in a bank vault for over four decades, further preserving its condition.
The sale of the dime marked the end of an era for the sisters, who had held on to this valuable piece of their family’s history. Despite parting with the coin, its legacy will likely continue to resonate within the numismatic community for years to come.
Mint marks play a critical role in identifying the origin of coins. Each U.S. Mint facility uses a specific letter to distinguish its coins. For example, the Philadelphia Mint uses the letter “P,” while the West Point Mint employs the letter “W.” These mint marks not only help identify where a coin was produced but also ensure accountability for the quality of the coin.
The 1975 “no S” proof dime stands out because of its missing mint mark. The absence of the “S” makes it a rare anomaly in the world of coin collecting, further driving its desirability among collectors and numismatists alike. The discovery of this error has solidified the coin’s status as one of the most sought-after modern rarities.
This unique coin has captured the imagination of collectors worldwide. In fact, it’s part of a growing trend in which rare error coins fetch extraordinary prices at auction. The allure of owning such a remarkable piece of history has drawn collectors like Mitch Spivack, a renowned numismatist who previously owned one of the other rare 1975 “no S” dimes. In 2019, he was able to purchase one of these rare coins for $456,000 and quickly resold it for $516,000, a testament to the coin’s increasing value and demand.
For Spivack, owning the 1975 “no S” dime was a dream come true, fulfilling a long-standing ambition to add this elusive coin to his collection. His excitement reflects the growing recognition of these “modern rarities,” which continue to spark interest in the numismatic community.
The 1975 “no S” proof dime’s record-setting sale is a testament to the enduring appeal of rare coins and the significance of minting errors in the world of numismatics. As the coin continues to capture the imagination of collectors, its legacy will live on as one of the most valuable and historically significant American coins
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