This Dime Could Be Worth $500,000 at Auction This October—Check Your Pocket and Piggy Bank Now! Here's What to Look For

It’s not every day that a dime could make you a millionaire—or close to it. A rare 1975 dime, missing the San Francisco "S" mint mark, is heading to auction and could fetch more than $500,000. This tiny coin is causing a stir among collectors, and there’s a chance more might still be out there. Here’s what to look for and the backstory behind this remarkable find.

The Rare Error That Created a Fortune

In 1975, the U.S. Mint in San Francisco produced more than 2.8 million proof sets for collectors. Each coin was supposed to carry an “S” mint mark, signifying it was made at the San Francisco Mint. However, two dimes missed this vital stamp, and as a result, these coins have become highly valuable collector’s items.

According to Ian Russell, president of GreatCollections, the firm handling the upcoming auction, the missing mint mark is what makes the coin so rare and coveted. "It's already bid up to $250,000, and we expect it to sell for much more than that. We're hoping it realizes more than half a million dollars," Russell said in an interview with FOX 13 Tampa Bay.

He went on to explain, "They were both discovered in proof sets—that is the key. They were never issued in regular coins found in change," Russell told FOX 11 Los Angeles. "If you have 1975 proof sets at home, check the dime," he advised.

A Hidden Treasure for Decades: The Ruth E Story

The first known "no S" 1975 dime was discovered in 1977 by a California coin collector who had purchased five 1975 proof sets from the U.S. Mint. He immediately sent the coin for authentication, and soon after, CoinWorld published an article about the discovery. The revelation prompted collectors and dealers nationwide to check their own proof sets.

One of those lucky collectors was Ruth E, a family from Ohio. In the 1970s, coin dealers like Fred Vollmer would send out sales catalogs via First Class USPS mail. Because Ruth E lived close to Vollmer’s Chicago shop, the family received the mailing just in time to snag the rare dime. Vollmer mentioned that another eager collector called only 20 minutes after Ruth E had committed to the purchase.

Ruth E bought the coin and kept it secret for decades. In 2011, the family finally revealed the coin to CoinWorld’s editor, Bill Gibbs, for a private viewing and article. Now, the dime is headed to auction for the first time since its discovery.

The Second "No S" 1975 Dime

The only other known example of the 1975 "no S" dime was sold by the same California collector to Vollmer in 1979. This coin remained hidden until it resurfaced in a 2011 auction, where it was sold for $349,600. Afterward, it was acquired by a Florida dermatopathologist, who collected rare coins, and was later sold again in 2019 for $456,000. Within days, the coin’s value jumped to $516,000, sold to a Roosevelt dime collector with the only complete set of this series.

The Coin's Big Reveal to the Three Sisters

The rare 1975 "no S" dime was inherited by three sisters from Ohio after the deaths of their mother and brother. The coin had been kept in a bank vault for decades after their family originally purchased it in 1978 for $18,200. Though their brother often spoke about the coin, the sisters were unaware of its true value until just a few years ago.

It wasn’t until Ian Russell, president of GreatCollections, informed one of the sisters about the coin’s potential that they fully realized its extraordinary worth. One sister, in disbelief, asked, “Is that really possible?” As the coin now heads to auction, bidding has already reached $266,000, with the final price expected to exceed $500,000.

A Million-Dollar Mistake?

With only two examples known, the rarity of this 1975 "no S" dime is undeniable. Russell believes the final sale price could exceed $500,000, and with good reason—the coin market is booming, and rare coins like this have consistently exceeded expectations in recent auctions.

Russell encourages collectors to check their old proof sets, noting that unopened sets from 1975 could still contain a hidden treasure. “If you have old proof sets at home—perhaps your granddad or dad ordered them and forgot about them. If you have a 1975 set, check the dime,” he advises.

Where You Can See the Dime

For those interested in learning more about this rare dime, it will soon head to auction with GreatCollections on Oct. 27, 2024.

As of now, bidding has already reached $266,000, and collectors from around the world are expected to push the final price far beyond the half-million-dollar mark.

The story of the 1975 "no S" dime is a remarkable example of how a small minting error can turn an ordinary coin into a treasure worth hundreds of thousands of dollars. From its discovery in 1977 to its upcoming auction in 2024, this dime’s journey is one of intrigue and excitement for collectors everywhere.

So, before you toss out that old jar of coins or ignore the dusty proof set in your attic, take a closer look—you might just be holding onto a fortune.