Huge payout expected for a rare coin bought by farm family and hidden for decades

John Seewer, Associated Press

TOLEDO, Ohio (AP) — Three sisters from Ohio who inherited a dime kept successful a slope vault for much than 40 years knew it had immoderate value. But they had nary thought conscionable really overmuch until conscionable a fewer years ago.

The extraordinarily uncommon coin, struck by nan U.S. Mint successful San Francisco successful 1975, could bring much than $500,000, said Ian Russell, president of GreatCollections, which specializes successful rate and is handling an online auction that will extremity successful October.

What makes nan dime depicting President Franklin D. Roosevelt truthful valuable is simply a missing “S” mint people for San Francisco, 1 of conscionable 2 without nan people known to exist. The different 1 sold astatine a 2019 auction for $456,000 and past again months later to a backstage collector.

While superior coin collectors person agelong known astir nan beingness of these 2 uncommon dimes, their whereabouts had remained a enigma since nan precocious 1970s.

“They were hidden for decades.” Russell said. “Most awesome collectors and dealers person ne'er seen one.”

The mint successful San Francisco made much than 2.8 cardinal typical uncirculated “proof” sets successful 1975 that featured six coins and were sold for $7. Collectors a fewer years later discovered that 2 dimes from nan group were missing nan mint mark.

The sisters from Ohio who inherited 1 of those 2 dimes aft nan caller decease of their relative want to stay anonymous fixed their abrupt windfall, Russell said.

They shared pinch Russell that their relative and mother successful 1978 bought nan first correction coin discovered for $18,200, which would magnitude to astir $90,000 today. Their parents, who operated a dairy farm, saw nan coin arsenic a financial information net.

One of nan sisters said her relative often talked astir nan uncommon coin. But she ne'er saw it first-hand until past year.

Russell, whose institution is based successful Irvine, California, said their relative reached retired to him astir 7 years agone and yet told him astir nan coin. He excessively kept nan secret.

When Russell told 1 of nan sisters conscionable a fewer years agone astir nan coin’s imaginable value, he said she remarked “is that really possible?”
Now nan coin, known arsenic nan “1975 ‘no S’ impervious dime,” will beryllium displayed astatine a coin show opening Wednesday successful Tampa, Florida, and earlier nan auction closes successful precocious October, Russell said.

While location is simply a chance much examples of nan uncommon dime are retired there, they would only beryllium recovered among nan 1975 “proof” sets and not successful anyone’s pouch change, Russell said.

Still, he expects this latest find to group disconnected a batch of searching.