Bullion news: sponsored by Express Gold Refining
In an extraordinary turn of events, three sisters from Ohio may be in for a life-changing payday. They recently inherited a rare dime that had been hidden in a bank vault for over 40 years. This coin, which dates back to 1975, is one of only two known examples of a “1975 ‘no S’ proof dime”—a U.S. Mint error that could now bring in over $500,000 at auction.
The dime, which was minted in San Francisco, is missing the crucial “S” mint mark. Its extreme rarity has made it highly sought after by collectors. Ian Russell, president of GreatCollections, the firm managing the auction, says the online sale is expected to end in October, and the coin could sell for a record-breaking amount.
A Rare Mint Error
The U.S. Mint in San Francisco produced over 2.8 million special uncirculated “proof” sets in 1975, each containing six coins. However, two dimes were accidentally struck without the “S” mint mark, making them exceptionally rare. One of these error coins was purchased by the Ohio sisters’ family in 1978 for $18,200, an amount equivalent to around $90,000 today.
The family, who operated a dairy farm, saw the coin as a financial safety net. The coin remained in their possession for decades, stored securely in a bank vault. The sisters only recently realized the full value of their inheritance after speaking with Russell, who had been aware of the coin’s existence for several years.
A Hidden Treasure
While serious collectors knew about the two missing mint mark dimes, their exact whereabouts were unknown for decades. The sisters, who inherited the coin after their brother’s passing, wish to remain anonymous. They only came to realize its incredible worth when Russell informed them about its potential to fetch half a million dollars or more.
One of the sisters shared with Russell that her brother often spoke about the coin, though she had never seen it until recently. The family purchased the coin in 1978 as an investment, never knowing just how valuable it would become.
A Chance for Record-Breaking Sale
The other known 1975 ‘no S’ dime sold at auction in 2019 for $456,000, before being resold to a private collector later that year. Given the current interest in rare coins, experts believe the Ohio family’s dime could exceed that price. It will be displayed at a coin show in Tampa, Florida, starting this Wednesday, before the auction closes in late October.
Russell expects the discovery of this rare coin to ignite a new wave of interest in 1975 proof sets. While it’s unlikely that more “no S” dimes will be found in circulation, collectors will likely begin scouring proof sets from 1975, hoping to unearth another valuable treasure.
The Ohio sisters are now set to benefit from their family’s foresight, as this rare error coin may soon bring them a substantial windfall. Whether it sells for $500,000 or even more, this is undoubtedly a remarkable discovery that has captivated the numismatic world.
Bullion news: sponsored by Express Gold Refining
