September 9th 2024.
Three sisters from the US Mid-West inherited a dime coin that had been kept in a bank vault for over 40 years. They always knew it had some value, but they didn't realize just how much until a few years ago. Ian Russell, president of GreatCollections, a currency specialist, revealed that the coin, struck by the US Mint in San Francisco in 1975, could sell for more than $US500,000. This is an extraordinary amount for a rare coin that is missing a mint mark.
The dime features President Franklin D. Roosevelt and is one of just two without the "S" mint mark known to exist. The other one was sold at an auction in 2019 for $US682,000 and then again, a few months later, to a private collector. While these rare dimes were known to serious coin collectors for many years, their whereabouts remained a mystery until recently.
According to Russell, the dime was hidden for decades and most major collectors and dealers have never seen one. The US Mint in San Francisco produced over 2.8 million special uncirculated "proof" sets in 1975, each featuring six coins and selling for $10. However, a few years later, collectors discovered that two dimes from the set were missing the mint mark.
The sisters, who inherited one of the two rare dimes after their brother's recent passing, have chosen to remain anonymous due to their sudden windfall. Russell shared that their brother and mother had purchased the first error coin found in 1978 for $27,225, which would be equivalent to approximately $135,000 today. Their parents, who ran a dairy farm, saw the coin as a financial safety net.
One of the sisters revealed that her brother often spoke about the rare coin, but she had never seen it until last year. Russell, whose company is based in Irvine, California, explained that the brother had reached out to him about seven years ago and had eventually disclosed the coin's existence. He had also kept the secret.
When Russell informed one of the sisters about the coin's potential value a few years ago, she couldn't believe it. She asked, "Is that really possible?" Now, the coin, also known as the "1975 'no S' proof dime," will be displayed at a coin show in Tampa, Florida, starting on Wednesday. It will then be auctioned off at the end of next month.
Although there is a chance that more examples of this rare dime exist, they would only be found among the 1975 "proof" sets and not in anyone's pocket change. Russell believes that this latest discovery will spark a lot of interest and searching among collectors. For more updates on breaking news, celebrities, and sports, follow our WhatsApp channel for a private and secure way to stay informed.
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