In a remarkable turn of events, a rare 1894-S Barber Dime, one of the most coveted coins in American numismatics, was recently discovered in an old cigar box and sold at auction for nearly $2 million.
This extraordinary find has captivated coin collectors and enthusiasts worldwide, highlighting the enduring allure of rare coins.
The 1894-S Barber Dime: A Numismatic Treasure
The 1894-S Barber Dime holds legendary status among collectors due to its extreme rarity and historical significance.
Struck at the San Francisco Mint in 1894, only 24 specimens were produced, making it one of the smallest mintages in U.S. coinage history. Of these, only nine are known to exist today, with varying degrees of preservation.
Designed by Charles E. Barber, the dime features the classic Liberty head on the obverse and a wreath encircling the denomination on the reverse.
Its composition is 90% silver and 10% copper, with a diameter of 17.9 mm and a weight of 2.5 grams.
Discovery and Auction Details
The recently auctioned 1894-S Barber Dime was discovered in an old cigar box, a testament to the hidden treasures that can reside in everyday items.
Upon authentication and grading, the coin was classified as Proof-66 by the Professional Coin Grading Service (PCGS), denoting its exceptional condition.
The coin was sold at Heritage Auctions’ Platinum Night event during the Florida United Numismatists (FUN) Convention. The final hammer price reached $1,997,500, making it one of the highest prices ever paid for a dime.
The winning bidder chose to remain anonymous, adding an element of mystery to this already fascinating story.
Historical Significance and Theories
The origins of the 1894-S Barber Dime’s limited mintage have been the subject of much speculation. One theory suggests that the coins were produced to balance a bullion account discrepancy of $2.40 at the San Francisco Mint.
Another posits that they were struck as special gifts for influential bankers.
Adding to the coin’s mystique is the tale of the Mint Superintendent’s daughter, who allegedly received three of these dimes.
According to legend, she spent one on a dish of ice cream and later sold the remaining two in the 1950s. Such stories contribute to the coin’s allure and underscore its place in numismatic folklore.
Notable Sales of the 1894-S Barber Dime
Over the years, several 1894-S Barber Dimes have surfaced at auctions, fetching impressive sums:
| Year | Auction House | Grade | Sale Price |
|---|---|---|---|
| 2005 | David Lawrence RC | PR66 | $1,322,500 |
| 2007 | Stack’s Bowers | PR66 | $1,900,000 |
| 2016 | Heritage Auctions | PR66 | $1,997,500 |
These sales underscore the coin’s enduring value and desirability among collectors.
The discovery and subsequent sale of the 1894-S Barber Dime found in a cigar box serve as a compelling reminder of the hidden treasures that may lie unnoticed in our possessions.
This event not only highlights the coin’s historical and monetary value but also fuels the imagination of collectors and enthusiasts who dream of uncovering such rarities.
As one of the most elusive coins in American history, the 1894-S Barber Dime continues to captivate the numismatic world.
FAQs
Why is the 1894-S Barber Dime so valuable?
Its value stems from its extreme rarity, with only 24 minted and nine known to exist today, coupled with its historical significance and the intrigue surrounding its origin.
How can I determine if I have a valuable coin?
Consult a professional coin grading service or a reputable numismatist to assess the coin’s authenticity, condition, and value.
Where can I sell rare coins?
Rare coins can be sold through reputable auction houses, coin dealers, or online platforms specializing in numismatics.