A dime, hidden for decades, sold for half a million dollars at auction, but Americans are unlikely to find a similar coin in their wallets.
The coin, which was struck by the United States Mint in San Francisco in 1975, is one of only two known coins missing the city’s ‘S’ mark.
The other was sold at auction in 2019 for a whopping $456,000, and then days later to a private collector for $516,000. AP News reported.
Ian Russell, president of GreatCollections, the specialist who handled the sale, revealed that the coin sold for $506,250 in an online auction last month.
The coin, which was struck by the United States Mint in San Francisco in 1975, is one of two known coins missing a San Francisco ‘S’ mark.
While coin collectors were aware of the existence of these two rare dimes, their whereabouts remained a mystery since the late 1970s.
In 1975, the San Francisco Mint manufactured more than 2.8 million uncirculated “proof” sets featuring six coins and selling for $7.
It wasn’t until a few years later that collectors noticed that two dimes in the set were missing the ‘S’ mark.
Three Ohio sisters inherited one of the rare dimes after their brother’s recent death, Russell told AP News, after it was hidden in a bank vault for more than 40 years.
The sisters, who have chosen to remain anonymous, said their brother and mother bought the coin in 1978 for $18,200, which is equivalent to about $90,000 today.
His parents, who operated a dairy farm, saw the currency as a financial safety net, they told Russell.
Three Ohio sisters inherited the rare dime after their brother’s recent death.
While there is a possibility that there are more examples of this rare dime, they would only be found among the 1975 ‘proof’ sets, and not in spare change, experts say.
While there is a possibility that there are more examples of this rare dime, they would only be found among the 1975 “proof” sets, said Ian Russell, president of GreatCollections.
For those hoping to find a rare coin in their pocket, Russell has bad news.
While there is a possibility that more examples of this rare dime exist, they would only be found among the 1975 “proof” sets.
‘If you have old test sets at home, maybe your grandfather or father ordered them and forgot about them. If you have 1975, check the dime,’ Russell said.
Last year, Russell revealed to DailyMail.com the most valuable pieces he has ever sold at auction, including a $12 million silver dollar and a set of Lincoln pennies that sold for $7.7 million. of dollars.
He developed an interest in rare coins in his teens and now often sells up to 5,000 coins a week.