Rare US dime sells for $1.25 million
The 1894 Barber Dime remains highly sought after by collectors.
1Historic dime sells for record price
The 1894 S-Dime was sold for $1.25 million at Stack’s Bowers Galleries' 'Rarities Night' auction. This marked the dime's fourth auction appearance. Designed by US Mint Chief Engraver Charles E. Barber, only 24 of these dimes were minted, with just 9 known to survive today.
2Collectible value of Barber Dimes
Barber Dimes rank fourth in the '100 Greatest US Coins' reference guide. Their rarity, with only 9 known examples, drives their high value. Theories about their limited mintage link back to the Panic of 1893, which halted coin production. Some claim the San Francisco Mint created them to melt leftover silver.
3Dave Bowers' numismatic career
In 1957, 19-year-old Dave Bowers made headlines by paying $4,750 for the same Barber Dime. He leveraged this purchase to launch his numismatic career, later selling the dime for $6,000 in 1960. The coin changed hands among several collectors, and Stack’s Bowers Galleries bears his name.
4Impact of the Panic of 1893
The Panic of 1893 severely impacted the US economy, halting new coin production for months. This crisis explains the limited mintage of Barber Dimes. Some historians suggest the dime's superintendent minted them as gifts for his daughter and banker friends, adding to their mystique.
5Design features of Barber Dimes
Barber Dimes feature Lady Liberty's portrait on the obverse and 'One Dime' with a wreath on the reverse. Unlike modern Roosevelt dimes, this design reflects the era's artistic style. Their rarity and historical significance make them highly desirable among collectors.
6Records in the numismatic world
Rare coins like the Barber Dimes frequently fetch record prices at auctions. Collectors are willing to pay premium prices for historically significant, low-mintage coins. The $1.25 million sale of the 1894 S-Dime highlights the vibrant market for rare coins.
7Role of the San Francisco Mint
The San Francisco Mint played a key role in minting Barber Dimes. Some experts believe the dimes were struck to melt $2.40 worth of leftover silver, while others argue they were special gifts. Regardless, their rarity is undisputed in numismatic circles.
8Collecting as an investment
Rare coins like Barber Dimes are valuable assets for both collectors and investors. Beyond their historical and artistic value, they have strong appreciation potential. The $1.25 million sale of the 1894 S-Dime underscores the profitability of such investments.
Original article: Popular Science — Nadir ABD dimesi 1.25 milyon dolara satıldı