A remarkable 1975 dime, featuring the portrait of President Franklin Delano Roosevelt, recently fetched an astonishing $506,250 at auction due to its extremely rare error.
This unique 1975 Roosevelt dime was sold through an online auction hosted by GreatCollections. It has now become more valuable than the only other known example of this coin.
The rare charm of Roosevelt dimes without mint marks
The standout feature of this coin is the missing mint mark. In the United States, coins are typically marked with an initial indicating the mint where they were produced. This dime was minted in San Francisco, which is known for producing proof sets for collectors, and should have carried an ‘S’ mint mark. However, during several years, dies from the U.S. Mint’s main facility in Philadelphia accidentally omitted these identifying marks.
Renowned artist John Sinnock was responsible for designing the bust on the Roosevelt Dime, a coin that remains in circulation today.
Coins with such errors are highly sought-after rarities. Over the years, multiple instances of misstruck coins have been discovered from various years, including:
- 1968
- 1970
- 1971
- 1983
- 1990
These fascinating anomalies continue to capture the interest of collectors worldwide, making them prized additions to any collection.
The Journey of a Rare Coin
In the world of coin collectors, most modern errors are typically caught during the production process. However, this elusive coin managed to escape the mint, nestled within a proof set sold to a collector. Its journey continued, passing through the hands of a dealer before landing with a farming family. This family, recognizing its potential value, also acquired the other known no-S 1975 Roosevelt dime, envisioning it as a family nest egg.
The other dime from this rare pair was sold for an impressive $456,000 in 2019. Shortly thereafter, it fetched over $500,000 in a private transaction. Meanwhile, the value of this coin has continued to rise, reaching its peak at the sale closure on October 27.
For collectors, the prospect is tantalizing: there may be more hidden treasures yet to be discovered. The two known errors surfaced in proof sets, with the San Francisco mint producing nearly 3 million such sets in 1975. This opens up the possibility that other sets might also harbor this rare error.