Imagine discovering that a simple dime in your possession is worth nearly a million dollars. This isn’t a mere fantasy for coin collectors and enthusiasts. The 1975 No-S Roosevelt Dime stands as one of the most elusive and valuable coins in American numismatic history.
With only two known specimens, this coin has fetched prices exceeding $500,000 at auctions, and experts speculate its value could approach $900,000 in the right market. But what makes this dime so extraordinary? Let’s delve into the fascinating story behind the 1975 No-S Roosevelt Dime.
The Genesis of the Roosevelt Dime
The Roosevelt Dime was introduced in 1946 to honor President Franklin D. Roosevelt, who had passed away the previous year.
Designed by Chief Engraver John R. Sinnock, the coin features Roosevelt’s profile on the obverse and a torch flanked by olive and oak branches on the reverse, symbolizing liberty, peace, and strength.
Initially composed of 90% silver, the dime transitioned to a copper-nickel clad composition in 1965 due to rising silver prices.
Understanding Mint Marks and Their Significance
Mint marks are small letters on coins indicating the mint where they were produced. In 1975, dimes were minted in three locations:
- Philadelphia Mint: No mint mark
- Denver Mint: ‘D’ mint mark
- San Francisco Mint: ‘S’ mint mark
The San Francisco Mint was responsible for producing proof coins, which are specially made for collectors with a high-quality finish. These proof coins typically bear the ‘S’ mint mark.
The Enigma of the 1975 No-S Proof Dime
In 1975, the San Francisco Mint produced over 2.8 million proof sets. However, due to a minting error, at least two dimes were struck without the ‘S’ mint mark.
This omission rendered these coins exceptionally rare. The absence of the mint mark on a proof coin is a significant anomaly, making the 1975 No-S Roosevelt Dime a coveted prize among collectors.
Record-Breaking Auction Sales
The rarity of the 1975 No-S Roosevelt Dime has led to astonishing auction results:
- 2011: A specimen sold for $349,600.
- 2019: Another example fetched $456,000.
- 2024: The most recent sale reached $506,250.
Given the increasing interest in rare coins and their appreciating value, experts believe that if another specimen were to surface, it could command a price approaching or even exceeding $900,000.
Distinguishing the 1975 No-S Proof Dime from Regular Issues
It’s crucial to differentiate between the rare No-S proof dimes and the common 1975 dimes:
- Proof vs. Business Strike: Proof coins have a mirror-like finish and are struck with special dies, intended for collectors. Business strike coins are made for general circulation and lack the polished appearance of proofs.
- Mint Marks: Regular 1975 dimes from Philadelphia lack a mint mark, but they are business strikes. The rare No-S dimes are proofs without the ‘S’ mint mark.
To identify a genuine 1975 No-S proof dime, look for the reflective surfaces characteristic of proof coins and the absence of the ‘S’ mint mark.
The Journey of a Remarkable Coin
One of the two known 1975 No-S dimes has a particularly intriguing history. In 1978, a dairy farming family from Ohio purchased the coin for $18,200 as a financial safety net.
The coin remained in a bank vault for over four decades until it was sold at auction in 2024 for over $500,000, providing the family with a substantial return on their investment.
Key Details of the 1975 No-S Roosevelt Dime
| Attribute | Details |
|---|---|
| Year of Issue | 1975 |
| Mint | San Francisco (Proof) |
| Mint Mark | Absent (‘No-S’) |
| Composition | Copper-Nickel Clad |
| Weight | 2.27 grams |
| Diameter | 17.90 mm |
| Edge | Reeded |
| Designer | John R. Sinnock |
| Known Specimens | Two |
| Notable Auction Sales | $349,600 (2011), $456,000 (2019), $506,250 (2024) |
| Estimated Current Value | Potentially approaching $900,000 |
FAQs
How can I tell if I have a 1975 No-S Roosevelt Dime?
Check for the mirror-like finish indicative of proof coins and the absence of the ‘S’ mint mark. If your 1975 dime lacks the mint mark but doesn’t have the proof finish, it’s likely a common Philadelphia issue.
Why are there so few 1975 No-S dimes?
The error was detected early during production, and most were likely caught and destroyed, leaving only two known to have entered the market.
Are there other No-S proof coins that are valuable?
Yes, similar errors have occurred in other years, such as the 1968 No-S Roosevelt Dime and the 1970 No-S Roosevelt Dime, both of which are also highly valuable.
What should I do if I think I have a rare coin?
Consult a reputable coin dealer or professional grading service to authenticate and appraise the coin.