A 1975 Roosevelt dime, missing the distinctive ‘S’ mint mark from the San Francisco Mint, recently captured the attention of numismatic enthusiasts when it sold for an astounding $506,250 at auction. This record-breaking sale, which took place through the respected auction house Great Collections, emphasizes the remarkable value of rare mint errors in the coin-collecting world.
Why the ‘No S’ Mint Mark is So Significant
Typically, coins produced at the San Francisco Mint are distinguished by an ‘S’ mint mark. In 1975, however, a few proof dimes were mistakenly minted without this mark, resulting in an exceptionally rare “No S” variation. With only two known examples, the scarcity of the 1975 ‘No S’ Roosevelt dime drives its desirability among collectors, who are willing to pay significant premiums for such numismatic oddities.
Highlights from the Recent Auction
The auction, hosted by GreatCollections, concluded on October 27, 2024, with over 200 bids placed on this rare coin, which was graded PCGS Proof-67 and approved by the Certified Acceptance Corporation (CAC). This particular grading is noteworthy, indicating a near-flawless proof quality. The sale’s final price of $506,250 set a new high for this coin, reinforcing its status as one of the most valuable U.S. dimes in modern numismatic history.
The Historical Context and Discovery of the 1975 ‘No S’ Dime
In 1975, the San Francisco Mint produced around 2.84 million proof sets, each expected to carry the ‘S’ mint mark on every coin. However, in a rare error, two proof dimes emerged without this identifying mark. Both of these “No S” dimes were discovered in California and subsequently sold to prominent coin dealer F.J. Vollmer in the late 1970s.
The first of these dimes was purchased in 1978 by an Ohio collector and his mother for $18,200—a considerable investment at the time, driven by their belief in the coin’s long-term value. They kept the coin securely stored for decades, viewing it as a unique financial asset.
Record-Setting Previous Sales and Provenance
The second known 1975 “No S” dime has been auctioned twice before, each time commanding a higher price and underscoring the coin’s enduring appeal. In 2011, it sold for $349,600, and in 2019, it fetched an impressive $456,000. The recent sale of the first example at over half a million dollars further confirms the rising demand for rare error coins among collectors.
| Attribute | Details |
|---|---|
| Year of Minting | 1975 |
| Mint Location | San Francisco |
| Typical Mint Mark | ‘S’ |
| Error | Missing ‘S’ mint mark |
| Number of Known Examples | 2 |
| Recent Auction Price | $506,250 (October 27, 2024) |
| Grading | PCGS Proof-67, CAC approved |
| Previous Auction Prices | $349,600 (2011), $456,000 (2019) |
Great Collections’ Role in the Auction World
Based in Irvine, California, GreatCollections specializes in certified coins and banknotes, known for its expertise in auctioning rare and high-value collectibles. This recent record-breaking sale reflects the reputation GreatCollections has built in the numismatic community, attracting a robust bidding environment for the 1975 ‘No S’ dime and other rare coins.
Insights and Implications for Coin Collectors
This sale serves as a reminder for collectors about the potential hidden value of mint errors and rare coin variations. Numismatists often seek out these unique pieces due to their historical and financial significance, and even seemingly minor anomalies can lead to substantial rewards. The record-setting sale of the 1975 ‘No S’ Roosevelt dime exemplifies how rarity, combined with a unique historical background, can create an item of exceptional value.
The growing interest in mint errors encourages collectors to scrutinize their coin collections more closely. A small anomaly or rare oversight, such as a missing mint mark, can transform a common piece into a coveted collectible with the potential for high returns.
The extraordinary $506,250 sale of the 1975 “No S” dime illustrates the strong demand for rare coins and mint errors, underscoring the lasting appeal of numismatics. As collectors seek out unique pieces with historical significance, the numismatic market remains an exciting field, often yielding remarkable finds and record-breaking sales.
Why is the 1975 ‘No S’ Roosevelt dime so valuable?
The coin’s value stems from its rarity and the unusual mint error. Only two examples without the ‘S’ mint mark are known to exist, which makes it exceptionally desirable among collectors.
How does a mint mark error occur?
Mint mark errors can occur during the minting process if dies used to strike the coins are mistakenly left without the mint mark. This type of error is rare, particularly in proof coins intended for collectors.
What is the role of CAC in coin grading?
The Certified Acceptance Corporation (CAC) assesses coins that have already been graded by other entities, providing additional validation of their quality and increasing confidence for collectors.