The dime has more than tripled in value over 46 years.
A remarkable US coin, the '1975 No S Proof Dime', has set a new auction record, selling for $506,250 (Rs 4,26,74,091) last night, according to GreatCollections auction house. The coin, known for its rarity, was released in error without the "S" mint mark, making it one of the most sought-after modern US coin rarities.
After being in private possession for over half a century, the 1975 dime was verified by the Professional Coin Grading Service (PCGS) and assigned the grade Proof-67. Additionally, the Certified Acceptance Corporation (CAC) approved it, according to a news release.
According to Scott Schechter and Jeff Garrett's The 100 Greatest US Modern Coins, numismatic experts regularly rank the 1975 No S Proof Dime as the best modern US coin.
The coin was consigned to GreatCollections just two months ago after being acquired for $18,200 in 1978 by an Ohio collector and his mother from the famous Chicago dealer FJ Vollmer & Co. The coin's status as a highly sought-after numismatic treasure has been cemented by the remarkable auction price, which represents over 30 times the amount paid for it 46 years ago.
"We received interest in this modern rarity from all over the world-serious collectors from Germany, Japan, and the UK, as well as collectors from the US-over 400 unique bidders were actively tracking the auction," GreatCollections President Ian Russell said in a news release.
The dime is notable for its missing "S" mint mark, which would signify it was minted in San Francisco. It is only one of two examples known to still exist.
"This is the Grail of modern coins, one that is missing from the Smithsonian, ANS, and ANA institutional collections. After spirited bidding, it was ultimately won by a long-time client of ours who appreciates rarities that infrequently appear on the market. His goal is for his family to own it for the next 46 years, similar to the seller's family who consigned it to GreatCollections," Russell said.