Decades-hidden rare coin may fetch $500,000 at auction

Three sisters from Ohio recently discovered the significant value of a rare dime that had been kept in a bank vault for over 40 years. While they were aware that the coin held some worth, they were utterly shocked when they learned its true potential value, which could exceed $500,000.

This exceptional dime, produced by the U.S. Mint in San Francisco in 1975, is remarkable because it is missing the “S” mint mark, indicating it was not stamped at the San Francisco Mint. It is one of only two known examples without this crucial mark. The first of these dimes sold for an impressive $456,000 at auction in 2019 and was subsequently purchased by a private collector.

Although serious coin enthusiasts have known about these two rare dimes for some time, the specific locations of these coins had been a mystery since the late 1970s. Ian Russell, president of GreatCollections, the auction house managing the sale, noted, “They were hidden for decades. Most major collectors and dealers have never seen one.”

In 1975, the mint produced over 2.8 million special uncirculated “proof” sets, which included six coins and were priced at $7 for collectors. It was later discovered that two dimes from these sets were produced without the mint mark.

The sisters inherited one of these rare dimes after the recent passing of their brother, who had purchased the coin along with their mother in 1978 for $18,200—an amount equivalent to around $90,000 in today’s currency. Their family, which operated a dairy farm, viewed the coin as a safety net for their financial future.

One sister mentioned that her brother often spoke about the rare coin, but she had never seen it in person until last year. Seven years ago, their brother contacted Russell to discuss the coin, keeping its existence a secret until recently.

When Russell informed one of the sisters about the potential value of the 1975 “no S” proof dime just a few years ago, she was astonished, asking him, “is that really possible?” The coin will be displayed at a coin show in Tampa, Florida, starting Wednesday, before the auction ends later in October.

While it is possible that more examples of this rare dime may exist, any discoveries would likely occur among the 1975 “proof” sets rather than in everyday pocket change. Russell anticipates that the recent revelation regarding this specific dime will kick off a search among collectors looking for similar rare coins.

As the excitement builds leading up to the auction, the sisters remain discreet about their newfound fortune, aware that while they have stumbled upon something extraordinary, the historical significance of the coin is what truly captivates collectors.