The coin, which was struck by the U.S. Mint in San Francisco in 1975, depicts President Franklin D. Roosevelt and is one of just two known to exist without its distinctive “S” mint mark
A rare dime from the 1970’s was sold at auction for over $500,000.
The coin, which was struck by the U.S. Mint in San Francisco in 1975, depicts President Franklin D. Roosevelt and is one of just two known to exist without its distinctive “S” mint mark, the Associated Press reported.
The coin sold for $506,250 in an online auction that concluded Sunday, according to Ian Russell, president of GreatCollections, an auction house based in Irvine, California.
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The rare coin was inherited by three Ohio sisters after their brother, who kept it in a bank vault for 40 years, died.
The sisters, who wanted to remain anonymous, told Russell that they inherited one of those two dimes but that their brother and mother bought the first error coin discovered in 1978 for $18,200, which would be worth $90,000 today.
Their parents, who operated a dairy farm, wisely saw the coin as a financial safety net. The rare coin is the only other known example of the “1975 ‘no S’ proof dime”, the other was sold at a 2019 auction for $456,000 and then again months later to a private collector.
The mint in San Francisco made more than 2.8 million special uncirculated “proof” sets in 1975 that featured six coins and were sold for $7. Collectors a few years later discovered that two dimes from the set were missing the mint mark, AP reported.
It comes after an incredibly rare coin from 1955 caused a commotion on TikTok.
TikTok user @CoinCollectingWizard, who has over 196,000 followers on the platform, often uses his page to share an insight into the coins you should have in your pile. Now he turned his attention to a Lincoln cent which was minted in 1955.
He said in the video: “If you have this penny from 1955 then you have $20,000 baby. One day in 1955 in the United States Mint (located in Philadelphia), a Lincoln cent was given two blows from a coin press.
The TikTok user claimed the 1955 double dye era penny has around 24,000 pieces that we know of. The coins were shipped to various banks and destinations across the US. He concluded: “If you were to find one like this example today then you can sell this coin for a lot more than a cent. Prices vary greatly depending on the condition of the coin, so if you gave one it is best to get it certified and graded.
