A rare dime inherited by three sisters in Ohio sold for over $500,000 at an auction on Sunday.
What the Coin Sold For
The three sisters inherited the coin, which was hidden for decades, after their brother's recent death. The dime, minted in 1975 in San Francisco, depicts President Franklin D. Roosevelt and is one of only two known examples missing the "S" mint mark—a seemingly small oversight that has made it a coveted item among coin collectors.
While coin enthusiasts have long known about the existence of the "no S" dime, the mystery of its whereabouts persisted for years.
"They were hidden for decades. Most major collectors and dealers have never seen one," Ian Russell, president of GreatCollections, which oversaw the online sale, told The Associated Press.
The coin sold for $506,250 in an online auction, which was announced last month and concluded Sunday, according to Russell, whose auction house is based in Irvine, California.
Another of these rare dimes was auctioned for $456,000 in 2019 and was later sold to a private buyer.
Where Did the Coin Come From?
While the sisters want to remain anonymous, they shared with Russell the family backstory as their late brother and mother purchased the "no S" dime for $18,200 in 1978. That amount was a significant sum at the time and is equivalent to around $90,000 today. They had kept the coin as a form of financial security, hidden from the public eye.
However, after decades of her brother talking about it, one of the sisters finally saw the coin for the first time last year. The discovery was astonishing, especially when Russell explained its true value.
"Is that really possible?" she reportedly asked.
Russell said the brother reached out to him about seven years ago and eventually told him about the coin.
The Significance of Rare Coins
Russell believes the discovery of the coin could lead to a renewed frenzy of searching for other lost examples of the rare coin, known as the "1975 'no S' proof dime," though any additional finds would likely come from sealed 1975 proof sets rather than pocket circulation.
In a previously emailed response to Newsweek, Russell noted the importance the coin has, stating" "This is a very exciting coin for our company to auction—as you can see, bidding is already up to $250,000. We've handled many trophy coins over the years, including two 1913 Nickels and two 1804 Silver Dollars—but this is the first time for the 1975 No S Proof Dime, the most important modern U.S. coin."
This article includes reporting from The Associated Press
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