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

TOLEDO, Ohio (AP) — Three sisters from Ohio who inherited a dime saved in a financial institution vault for greater than 40 years knew it had some worth. However they’d no thought simply how a lot till just some years in the past.

The terribly uncommon coin, struck by the U.S. Mint in San Francisco in 1975, may convey greater than $500,000, mentioned Ian Russell, president of GreatCollections, which focuses on forex and is dealing with a web-based public sale that may finish in October.

What makes the dime depicting President Franklin D. Roosevelt so invaluable is a lacking “S” mint mark for San Francisco, certainly one of simply two with out the mark identified to exist. The opposite one bought at a 2019 public sale for $456,000 after which once more months later to a personal collector.

Whereas critical coin collectors have lengthy identified in regards to the existence of those two uncommon dimes, their whereabouts had remained a thriller for the reason that late Seventies.

“They had been hidden for many years.” Russell mentioned. “Most main collectors and sellers have by no means seen one.”

The mint in San Francisco made greater than 2.8 million particular uncirculated “proof” units in 1975 that featured six cash and had been bought for $7. Collectors just a few years later found that two dimes from the set had been lacking the mint mark.

The sisters from Ohio who inherited a type of two dimes after the current demise of brother need to stay nameless given their sudden windfall, Russell mentioned.

They shared with Russell that their brother and mom in 1978 purchased the primary error coin found for $18,200, which might quantity to roughly $90,000 at the moment. Their mother and father, who operated a dairy farm, noticed the coin as a monetary security web.

One of many sisters mentioned her brother usually talked in regards to the uncommon coin. However she by no means noticed it first-hand till final yr.

Russell, whose firm relies in Irvine, California, mentioned their brother reached out to him about seven years in the past and ultimately advised him in regards to the coin. He too saved the key.

When Russell advised one of many sisters just some years in the past in regards to the coin’s potential worth, he mentioned she remarked “is that basically doable?”

Now the coin, often known as the “1975 ‘no S’ proof dime,” will probably be displayed at a coin present starting Wednesday in Tampa, Florida, and earlier than the public sale closes in late October, Russell mentioned.

Whereas there’s a likelihood extra examples of the uncommon dime are on the market, they might solely be discovered among the many 1975 “proof” units and never in anybody’s pocket change, Russell mentioned.

Nonetheless, he expects this newest discovery to set off a whole lot of looking out.