A numismatic treasure hidden away for decades by an Ohio family recently fetched an astonishing $506,250 at auction. This rare 1975 dime, missing its distinctive San Francisco “S” mint mark, represents one of only two known specimens with this manufacturing error. After remaining concealed in a bank vault for over 40 years, this valuable coin has finally emerged to claim its rightful place in coin collecting history.
The remarkable journey of a rare Roosevelt dime
The valuable coin began its journey in 1975 when the San Francisco Mint produced over 2.8 million special uncirculated “proof” sets. Each set contained six coins and sold for just $7. Several years later, collectors made a stunning discovery – two dimes from these sets were missing the crucial San Francisco “S” mint mark that should have appeared on them.
One Ohio family recognized this rare opportunity back in 1978 when they purchased the first discovered error coin for $18,200 – equivalent to approximately $90,000 in today’s currency. The parents, who operated a dairy farm, viewed this acquisition as a financial safety net for their family’s future. Their foresight proved remarkably prescient.
For over four decades, this precious dime remained securely stored in a bank vault, its existence known to few outside the family. Following their brother’s death, three Ohio sisters inherited this numismatic rarity, unaware of its tremendous increase in value over the intervening years.
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From farm investment to half-million dollar auction
When Ian Russell, president of GreatCollections auction house based in Irvine, California, informed one of the sisters about the coin’s potential value, she reportedly asked in disbelief, “Is that really possible?” The family had maintained complete anonymity throughout the process, protecting their privacy as their modest investment transformed into a substantial windfall.
The online auction concluded on July 14, 2025, with the final hammer price reaching $506,250 after intense bidding. According to auction records, 212 bids were placed on this extraordinary piece, demonstrating the tremendous interest among serious numismatic collectors.
This sale represents the second time a 1975 “no S” proof dime has commanded a premium price. The only other known example sold at auction in 2019 for $456,000 before changing hands again for $516,000 to a dedicated Roosevelt Dime collector who now possesses the only complete collection of this series.
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Understanding the value of mint errors
What makes this particular dime so valuable? Coin experts point to several factors that contribute to its extraordinary worth:
- Extreme rarity (only two known specimens)
- Well-documented provenance
- Excellent preservation condition
- Strong demand from specialized collectors
- Historical significance as a major U.S. Mint error
Numismatic specialists note that while there remains a possibility that additional examples of this rare dime might exist, they would only be found among the 1975 “proof” sets – not in general circulation. This latest discovery has likely triggered renewed interest in examining these vintage proof sets.
| Year | Transaction | Price |
|---|---|---|
| 1978 | Initial purchase by Ohio family | $18,200 |
| 2019 | First auction of other known specimen | $456,000 |
| 2019 | Private sale of other known specimen | $516,000 |
| 2025 | Auction of Ohio family specimen | $506,250 |
The remarkable story of this long-hidden numismatic treasure demonstrates how seemingly minor manufacturing errors can create extraordinary value in the collector market. What began as a modest investment by a farming family transformed into a half-million dollar windfall for their descendants, proving that sometimes the most valuable items remain hidden in plain sight – or in this case, securely stored in a bank vault for generations.
