In the world of coin collecting, certain errors and rare finds can turn a simple dime into a small fortune. One such instance involves a Roosevelt dime that, if not carefully examined, could have been spent without realizing its immense value.
This article delves into the fascinating story of this rare coin, its unique characteristics, and how you can identify valuable dimes in your own change.
The Roosevelt Dime: A Brief Overview
The Roosevelt dime, introduced in 1946, features the profile of President Franklin D. Roosevelt on the obverse and a torch, olive branch, and oak branch on the reverse.
Initially struck in 90% silver, the composition changed in 1965 to a copper-nickel clad. While most Roosevelt dimes are of standard value, certain years and minting errors have made some exceptionally valuable.
The $720,000 Roosevelt Dime
In a remarkable turn of events, a 1975 Roosevelt dime was discovered to be missing its “S” mint mark—a significant error, as all proof coins from that year were supposed to bear the “S” mint mark indicating they were struck at the San Francisco Mint.
Only two such dimes are known to exist, making this coin extremely rare and highly sought after by collectors. One of these dimes was recently sold for a staggering $720,000 at auction.
Identifying Valuable Roosevelt Dimes
To determine if a Roosevelt dime in your possession might be valuable, consider the following factors:
- Year of Minting: Certain years are known for producing rare or error coins. For instance, dimes from 1969 and 1975 are particularly noteworthy.
- Mint Mark: Check for the presence of a mint mark (“D” for Denver, “S” for San Francisco). A missing mint mark on a coin that should have one can indicate a rare error.
- Condition: Coins in pristine condition, especially those graded MS65 or higher, are more valuable.
- Errors: Look for minting errors such as double strikes, off-center strikes, or missing elements.
Notable Examples of Valuable Roosevelt Dimes
| Year | Mint Mark | Error Type | Auction Price |
|---|---|---|---|
| 1975 | None | Missing “S” Mint Mark | $720,000 |
| 1969 | None | Missing Mint Mark | $456,000 |
| 1982 | None | Missing Mint Mark | $740,000 |
These examples highlight how specific errors can drastically increase a coin’s value. It’s essential to be aware of these anomalies when examining your change.
The Importance of Coin Grading
Coin grading is a standardized system used to assess a coin’s condition and authenticity. The most widely recognized grading scale is from the Professional Coin Grading Service (PCGS) and Numismatic Guaranty Corporation (NGC), ranging from 1 (Poor) to 70 (Perfect). Coins with higher grades, especially those above MS65, are more desirable to collectors and command higher prices.
How to Protect and Preserve Valuable Coins
If you suspect a coin in your possession might be valuable:
- Handle with Care: Use cotton gloves to avoid transferring oils or dirt.
- Store Properly: Place the coin in a protective holder, such as a 2×2 holder or capsule.
- Avoid Cleaning: Cleaning can scratch the coin and reduce its value.
- Seek Professional Evaluation: Consult with a reputable coin dealer or grading service for an expert assessment.
The discovery of a Roosevelt dime worth $720,000 underscores the importance of paying attention to the coins in your possession.
While most dimes are of standard value, certain years and minting errors can make them exceptionally valuable. By understanding what to look for and taking proper care of your coins, you might just find a hidden treasure in your change.
FAQs
How can I tell if my Roosevelt dime is valuable?
Check the year, mint mark, and condition of the coin. Dimes from certain years, especially those with minting errors or in pristine condition, can be worth significantly more.
What should I do if I find a potentially valuable coin?
Handle the coin carefully, store it properly, and consult with a reputable coin dealer or grading service for an expert evaluation.
Are there other coins besides dimes that can be valuable?
Yes, other coins such as quarters, nickels, and pennies can also be valuable, especially if they have rare minting errors or are in exceptional condition.