Three sisters from Ohio, who inherited a dime that had been kept in a bank vault for over 40 years, recently discovered its staggering value, The Associated Press reports.
The extraordinarily rare coin, struck by the US Mint in San Francisco in 1975, could fetch over $500,000, according to Ian Russell, president of GreatCollections, a currency specialist firm overseeing the coin’s online auction.
The dime, depicting President Franklin D. Roosevelt, is one of only two known to exist without the “S” mint mark for San Francisco. The other dime without the mint mark sold at auction in 2019 for $456,000 and was subsequently purchased by a private collector.
While serious coin collectors have long been aware of these two rare dimes, their whereabouts had remained a mystery since the late 1970s.
“They were hidden for decades,” Russell said. “Most major collectors and dealers have never seen one.”
In 1975, the San Francisco mint produced more than 2.8 million special uncirculated “proof” sets, each containing six coins and sold for $7. It was later discovered by collectors that two of these dimes were missing the mint mark. The Ohio sisters inherited one of these dimes following the recent death of their brother, opting to remain anonymous due to their unexpected fortune.
According to Russell, the sisters revealed that their brother and mother had purchased the first error coin discovered in 1978 for $18,200, equivalent to approximately $90,000 today. Their parents, who ran a dairy farm, viewed the coin as a financial safety net.
One of the sisters admitted that while her brother often spoke of the rare coin, she had never seen it until last year. The brother had reached out to Russell about seven years ago and eventually disclosed the coin’s existence, maintaining its secrecy. When Russell informed one of the sisters about the coin’s potential value just a few years ago, she reportedly exclaimed, “Is that really possible?”
The coin, now known as the “1975 ‘no S’ proof dime,” is set to be displayed at a coin show starting Wednesday in Tampa, Florida, before the auction concludes in late October. While there is a possibility that more examples of this rare dime exist, they would only be found among the 1975 “proof” sets and not in everyday pocket change, Russell noted.
