Your ordinary dime may not be worth much beyond its face value, but a rare ancestor of these coins might command over $1 million at an upcoming auction.
According to Stack’s Bowers, an 1894-S Barber Dime will soon be auctioned, with an estimated value of $1.5 million, multiplying its original value by 15 million. This unique dime was minted in San Francisco over 130 years ago as part of the Barber series, designed by engraver Charles E. Barber. Beginning in the 1890s, these dimes have attracted collectors, particularly those minted in San Francisco in 1894.
Only nine known examples of the 1894 dimes exist today. Stack’s Bowers Galleries’ Rarities Night will feature one of these dimes, with historical records indicating that only 24 were produced. Three were tested for quality, leaving just 21 in circulation. The fate of the other 12 remains unclear.
Heritage Auction’s records showcase a history of impressive sales for this rare coin. One example sold for $2.16 million last year. Previously, it brought in nearly $1.998 million in 2016. Another 1894 Barber Dime fetched $1.5 million in 2020, showing a significant price increase from $1.035 million in 2005. Bidding for the current auction starts at $1 million on September 1 on Stack’s Bowers website.
While few dimes reach such high values, other notable sales include an 1873-dated dime sold for $3.6 million in 2023. This coin was part of a batch meant to be melted under the Coinage Act of 1873 and is recognized as the only known survivor from that era. Moreover, dimes from 1792, initially called “dismes,” are highly desirable among collectors, with only three examples known to exist. The “finest-known example” sold for nearly $999,000 in 2016.
“Odd items are always set aside but that doesn’t make them rare or terribly valuable,” explained Dustin Johnson, vice president of numismatics at Heritage Auctions.
If you possess a dime or any coin that you suspect might be valuable, seeking expert advice is always prudent.