Sisters From Ohio Uncover Unexpectedly Valuable Dime, Kept Securely in a Bank Vault for Over 40 Years
- PHPzOriginal
- 2024-09-09 00:29:19990browse
Initially aware of its worth, they soon discovered the full extent of its significance. The rare coin in question, minted in San Francisco in 1975, could fetch over $500,000
Three sisters from Ohio have inherited an exceptionally valuable dime that has been kept in a bank vault for over 40 years. They were initially aware of its worth but later discovered the full extent of its significance.
The rare coin, minted in San Francisco in 1975, could fetch over $500,000, according to Ian Russell, president of GreatCollections, a company that specializes in coin auctions. An online auction featuring the dime is scheduled to end in October.
The remarkable value of this dime, which features President Franklin D. Roosevelt, derives from its missing “S” mint mark indicating it was produced in San Francisco. There are only two known examples of this error, with the other having sold for $456,000 at an auction in 2019, only to be sold again to a private collector shortly thereafter.
While serious coin collectors have long been aware of these two elusive dimes, their exact locations remained largely unknown since the late 1970s. Russell commented on the rarity of the coins, noting, “They were hidden for decades. Most major collectors and dealers have never seen one.”
The San Francisco Mint produced over 2.8 million special uncirculated “proof” sets in 1975, each containing six coins, which were initially sold for $7. It was later discovered that two dimes from this series were produced without the mint mark.
The sisters, who wish to remain anonymous following their unexpected inheritance, shared with Russell that their brother and mother purchased the first discovered error coin back in 1978 for $18,200, an amount that would be equivalent to about $90,000 today. Their parents owned a dairy farm and considered the coin a financial safety net.
“My brother often talked about the rare coin,” one of the sisters mentioned, adding that she only laid eyes on the coin for the first time last year.
According to Russell, their brother contacted him approximately seven years ago, eventually revealing the existence of the coin to Russell, who also kept the find a secret.
When Russell informed one of the sisters a few years back about the potential value of the coin, her response was one of disbelief: “Is that really possible?”
Currently, the coin, referred to as the “1975 ‘no S’ proof dime,” is set to be showcased at a coin show in Tampa, Florida, starting Wednesday, and will be displayed until the auction closes at the end of October, as confirmed by Russell.
Though there is a possibility that more specimens of this rare dime are in existence, they would only be found within the 1975 “proof” sets rather than in regular pocket change, according to Russell.
Nevertheless, he anticipates that this remarkable discovery will spur a significant amount of searching among collectors and enthusiasts alike.
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