You might not think twice about the dimes lying around in your house. But what if I told you one of those 1975 dimes could fetch over half a million dollars? Sounds unbelievable, right? Well, a rare 1975 “No-S” Proof Roosevelt dime has already been sold for a jaw-dropping $516,000 at an auction. Let’s explore why this dime is so valuable and what to look for if you’re hoping to find one in your collection.
The Story Behind the $500K Dime
In 2019, a lucky collector purchased a rare 1975 “No-S” Proof Roosevelt dime for $456,000 through Heritage Auctions. Just five days later, the same dime was sold again for $516,000, setting a new record. This wasn’t the first time this special dime appeared on the auction scene, but each time it did, the price skyrocketed.
Why is this dime worth so much? The answer lies in two key factors. First, the coin lacks the “S” mintmark, which is an error. Second, it’s believed that this error wasn’t widespread, making the 1975 “No-S” dime exceptionally rare.
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How Rare Is It Really?
Before you get excited and start digging through your loose change, here’s the catch: your chances of finding this dime are extremely low—about 1 in 1.4 million. To date, only two of these dimes have ever been found. The U.S. Mint produced over 2.8 million Proof sets in 1975, but only a tiny fraction had the “No-S” error.
This wasn’t the only time such an error occurred. Similar minting mistakes happened in other years, like in 1968, 1970, and 1983, when “No-S” Proof dimes were also produced. These errors add layers of intrigue to the 1975 dime, but they also make it more complicated to find one.
Was the Error Intentional?
Coin experts still debate whether the “No-S” minting error was intentional. Some believe it was, while others think it was purely accidental. Either way, the mystery adds to the coin’s allure. Other curious errors have come out of the U.S. Mint, like the 1970-S Washington quarter that was struck on a 1941 Canadian quarter.
Beware of Scams
The high value of the 1975 “No-S” dime has attracted many collectors, but it has also led to scams. Sellers often list common dimes online, advertising them as rare “No-S” varieties and asking for hundreds of dollars. Many of these coins turn out to be regular circulated dimes, so it’s crucial to be cautious.
Before purchasing any so-called “rare” coin, always ensure it has been graded or authenticated by a professional service. Coins that are genuinely rare will typically come with certifications and clear descriptions. If not, you could be falling for what is essentially false advertising.
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Conclusion
The 1975 “No-S” Proof Roosevelt dime is more than just a collector’s dream—it’s a piece of numismatic history. If you happen to come across this rare dime, you might be holding onto a treasure worth over $500,000.
But remember, such finds are incredibly rare, so be wary of anyone claiming to have one without proper authentication. Your next trip to the coin dealer might not make you half a million dollars richer, but it’s always fun to dream!