After more than forty years of resting quietly in a bank vault, a rare dime coin recently inherited by three sisters from Ohio is set to potentially bring them a huge windfall of wealth. The coin’s value is expected to surpass $500,000 according to Ian Russell, the president of GreatCollections, a company specializing in currency auctions. The coin, minted in 1975 at the San Francisco Mint, is considered extremely rare and highly sought after by collectors. GreatCollections is currently busy with an online auction ending in October.
The dime features the image of President Franklin D. Roosevelt and its rarity lies in the fact that it is missing the “S” mint mark representing the San Francisco Mint. Such coins are said to have only two examples in existence. This seemingly minute oversight has turned it into a coveted item for coin collectors. Another similar coin was sold at auction in 2019 for $456,000 and was subsequently passed on to a private collector.
While collectors have been aware of the existence of the “No S” dime coins, their whereabouts had been a mystery since the late 1970s. Russell mentioned that most major collectors and dealers had never seen one of these coins.
The three sisters from Ohio unexpectedly inherited one of these rare dime coins following the passing of their brother. Faced with this sudden windfall, they have expressed a desire to remain anonymous. They informed Russell that their brother and mother purchased the coin back in 1978 for $18,200, which today would be equivalent to around $90,000. Their parents, who operated a dairy farm, viewed the coin as a form of financial security.
One of the sisters revealed that their brother often spoke about the rare coin but it wasn’t until last year that she actually laid eyes on it. Russell’s company, based in Irvine, California, was contacted by their brother about the coin around seven years ago, and he had kept the secret ever since.
When Russell informed one of the sisters a few years ago about the potential value of the coin, she was amazed and asked, “Is this for real?”
The coin, known as the “1975 No S Dime Proof,” will be showcased at a coin show in Tampa, Florida, on Wednesday and will be up for auction until the end of October. In an email response to Newsweek, Russell emphasized the significance of this coin, stating that bidding has already reached $250,000.
He mentioned that over the years, their company has handled various coins, including two 1913 nickel coins and two 1804 U.S. dollar coins, but this marks the first auction of a 1975 No S Proof Dime, which is considered one of the most important modern American coins.