In the world of numismatics, certain coins stand out not only for their rarity but also for the stories they tell about America’s monetary history.
One such coin is the 1873 ‘No Arrows’ Seated Liberty Dime, which recently garnered significant attention by fetching $2 million at auction.
Understanding the 1873 ‘No Arrows’ Seated Liberty Dime
The Seated Liberty Dime series, minted from 1837 to 1891, showcases Lady Liberty seated on a rock, holding a shield and a liberty pole.
In 1873, the U.S. Mint introduced arrows next to the date on certain coins to denote a change in weight. However, the 1873 ‘No Arrows’ variety is particularly rare, especially when minted in Carson City, Nevada.
Key Features of the 1873 ‘No Arrows’ Dime
| Feature | Description |
|---|---|
| Mint Mark | Carson City (CC) |
| Arrows | Absence of arrows next to the date |
| Rarity | Unique specimen; only one known to exist |
| Condition | Graded Mint State 65 by PCGS |
| Historical Significance | Represents a transitional period in U.S. coinage weight standards |
Historical Context
The Carson City Mint, operational from 1870 to 1893, was known for producing coins with distinctive characteristics.
The 1873 ‘No Arrows’ dime is believed to have been minted during a one-day production run, adding to its mystique and rarity.
Provenance and Auction Details
Over the years, the coin passed through several notable collections, including those of Louis E. Eliasberg and Waldo E. “Pat” Bolen, Jr.
In August 2012, during an auction at a convention of the American Numismatic Association, the dime sold for $1.84 million, setting a record for the most expensive dime ever sold at auction.
Factors Contributing to Its Value
Several elements contribute to the high value of the 1873 ‘No Arrows’ Seated Liberty Dime:
- Uniqueness: It’s the only known example, making it a one-of-a-kind piece for collectors.
- Condition: Graded Mint State 65, it exhibits minimal wear and exceptional detail.
- Historical Significance: Its connection to the Carson City Mint adds a rich historical layer.
The 1873 ‘No Arrows’ Seated Liberty Dime serves as a testament to the complexities and nuances of U.S. coinage history.
Its recent sale for $2 million underscores the enduring appeal of rare coins and their ability to captivate collectors and historians alike.
FAQs
Why are there ‘No Arrows’ on the 1873 dime?
The absence of arrows indicates that the coin was minted before the U.S. Mint introduced arrows to denote a change in weight standards.
How many 1873 ‘No Arrows’ dimes were minted?
Only one such dime is known to exist, making it an extremely rare collector’s item.
What does ‘Mint State 65’ mean?
‘Mint State 65’ refers to a coin’s grade, indicating it is in excellent condition with minimal imperfections.
Why is the Carson City Mint significant?
Coins from the Carson City Mint are highly sought after due to their limited production and unique characteristics.