Rare 1975 'No S' Dime Sells for Over $500,000: A Historic Coin's Journey from Farm to Fortune

In a remarkable tale of hidden treasure, a rare dime purchased by a farming family in Ohio has achieved an astonishing sale price of $506,250 at auction.

A rare dime purchased by a farming family in Ohio has sold at auction for a staggering $506,250, setting a new record for the second example of this error coin. The coin, minted in San Francisco in 1975, features President Franklin D. Roosevelt and is notably missing the characteristic “S” mint mark. Only two examples of this coin are known to exist, making it one of the rarest coins in the world.

The dime was inherited by three sisters following the passing of their brother, who had kept the coin safely stored in a bank vault for over 40 years. The coin's journey from a modest farm to a lucrative auction reflects not only its rarity but also the sentimental value it held for the family. The sisters, who opted to remain anonymous, revealed that their brother and mother had purchased the first known error coin in 1978 for $18,200, a sum that would be roughly equivalent to $90,000 today.

The recent auction was conducted by GreatCollections, a prominent auction house based in Irvine, California. The auction concluded on a high note, attracting collectors eager to own a piece of numismatic history. Ian Russell, president of GreatCollections, confirmed the sale, noting that the only other known “1975 ‘no S’ proof dime” was sold at auction in 2019 for $456,000 and later changed hands to a private collector months afterward.

In 1975, the San Francisco mint produced over 2.8 million special uncirculated “proof” sets, which included six coins and were sold for just $7. However, it was later discovered that two dimes from this set were missing the mint mark, leading to their classification as error coins. Error coins are highly sought after by collectors due to their limited availability and unique history.

The presence of the missing mint mark on these dimes sets them apart from the standard versions, making them exceptionally rare. The 1975 ‘No S’ proof dime has become a coveted item in the numismatic community, with collectors willing to pay a premium for a chance to own one of these elusive coins.

The Ohio family’s decision to keep the coin secured in a bank vault for decades speaks to the family's understanding of its value. Their parents, who operated a dairy farm, viewed the coin as a financial safeguard, a testament to their foresight and belief in the importance of preserving wealth. This perspective aligns with broader trends in coin collecting, where rare coins are often seen as alternative investments that can provide financial security.

The successful sale of the dime also underscores the growing trend of online auctions in the world of numismatics. With platforms like GreatCollections, collectors from all over the world can participate in auctions, often driving prices to new heights. The convenience and accessibility of online bidding have revolutionized how coins are bought and sold, allowing even rare items like this dime to find their way to new collectors with ease.

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