An extremely rare 1975 coin that was hidden for decades has just surfaced and sold for a whopping $500,000.
ONE extremely rare coin The whereabouts, which has remained a mystery since the late 1970s, was sold for just over $500,000.
The coin was minted in 1975 by the United States Mint in San Francisco, features President Franklin D. Roosevelt and is one of two coins known to exist without the distinctive “S” mint mark.
Three sisters from Ohio inherited the coin after the death of their brother, who kept it in a bank vault for more than 40 years.
The coin sold for $506,250 in an online auction that ended Sunday, according to Ian Russell, president of GreatCollections, an auction house based in Irvine, California.
GreatCollections via AP
The only other known example of the “1975 ‘no S’ proof coin” sold at auction in 2019 for $456,000 and a few months later was sold again to a private collector.
The San Francisco mint produced more than 2.8 million special uncirculated “proof” sets in 1975, which included six coins and sold for $7. A few years later, collectors discovered that two coins in that set were missing the mint mark.
Russell said two sisters from Ohio, who wished to remain anonymous, told him they inherited one of the coins but that their brother and mother bought the first error coin discovered in 1978. for $18,200, equivalent to about $90,000 today. Their parents, who ran a dairy farm, saw the currency as a financial safety net.
