The 1968 No S Dime stands as a remarkable anomaly in numismatic history, captivating collectors and enthusiasts alike. This rare coin, distinguished by the absence of the “S” mintmark, has fetched prices as high as $40,800 at auctions. Understanding its origins, rarity, and distinguishing features can provide valuable insights for collectors and hobbyists.
Historical Context of the 1968 No S Dime
In 1968, the U.S. Mint resumed the use of mintmarks on coins, with the San Francisco Mint producing proof coins bearing the “S” designation. However, due to an oversight, a small number of proof dimes were struck without this crucial mintmark.
This error occurred when a die intended for the San Francisco Mint was mistakenly prepared without the “S” mintmark, leading to the production of these unique dimes. The 1968 No S Dime is particularly significant as it was the first instance of such an error in the proof coinage of the Roosevelt dime series.
Rarity and Market Value
The scarcity of the 1968 No S Dime significantly contributes to its high market value. It is estimated that only 12 to 14 examples exist across all grades, making it an exceptionally rare find. Auction records highlight its value appreciation over time:
- In 1999, a PR68 example sold for $6,038.
- By 2005, a PR68 example fetched $32,200.
- In 2006, a PR68 Cameo example achieved a price of $48,875.
- More recently, in 2011, a PR67 example was sold for $21,850.
These figures underscore the coin’s desirability and the premium collectors are willing to pay for well-preserved specimens.
Identifying the 1968 No S Dime
Distinguishing a 1968 No S Dime from regular issues requires careful examination:
- Proof Quality: The 1968 No S Dime is a proof coin, characterized by its mirror-like finish and sharp details, intended for collectors and not for general circulation.
- Absence of Mintmark: Unlike standard 1968 proof dimes from the San Francisco Mint, which bear the “S” mintmark, this error coin lacks any mintmark.
- Design Features: It features President Franklin D. Roosevelt on the obverse and a torch flanked by olive and oak branches on the reverse, consistent with standard Roosevelt dimes.
It’s important to note that regular 1968 dimes minted in Philadelphia also lack a mintmark. However, these are business-strike coins intended for circulation and lack the distinctive proof finish. Therefore, the combination of a proof finish and the absence of the “S” mintmark is key to identifying the 1968 No S Dime.
Comparison Table: 1968 Dime Varieties
| Feature | 1968 No S Proof Dime | 1968 S Proof Dime | 1968 Philadelphia Dime |
|---|---|---|---|
| Mintmark | None | “S” | None |
| Finish | Proof | Proof | Business Strike |
| Intended Circulation | Collectors | Collectors | General Circulation |
| Estimated Value Range | $20,000 – $50,000 | $5 – $7 | $0.15 – $0.35 |
| Estimated Quantity | 12 – 14 | High | High |
Collecting and Investing in the 1968 No S Dime
For collectors aiming to acquire this rare coin, consider the following:
- Authentication: Due to its rarity and value, ensure the coin is authenticated by reputable grading services such as the Professional Coin Grading Service (PCGS) or Numismatic Guaranty Corporation (NGC).
- Condition Assessment: The coin’s condition, graded on the Sheldon scale from 1 to 70, significantly influences its value. Higher grades, indicating minimal imperfections, command higher prices.
- Market Trends: Monitor auction results and market trends to make informed purchasing or selling decisions. The value of rare coins can fluctuate based on collector demand and market conditions.
The 1968 No S Dime represents a fascinating chapter in U.S. numismatic history. Its rarity, coupled with the intriguing story behind its creation, makes it a coveted piece among collectors. Whether you’re a seasoned numismatist or a curious enthusiast, the allure of this coin lies not only in its monetary value but also in its unique place within the rich tapestry of coin collecting.
FAQs
Why does the 1968 No S Dime lack a mintmark?
The absence resulted from an oversight during die preparation, where the “S” mintmark intended for San Francisco proof coins was omitted.
How can I differentiate between a 1968 No S Proof Dime and a regular 1968 Philadelphia Dime?
The No S Proof Dime has a mirror-like finish and sharp details, characteristic of proof coins, whereas the Philadelphia dime is a business-strike coin with a standard finish.
What factors influence the value of the 1968 No S Dime?
Factors include rarity, condition (grade), and market demand among collectors.
