By Greg Reynolds for CoinLink

Photos used with permission and courtesy of Legend Numismatics

Only one 1870 San Francisco Mint half dime is known to exist. It was on display on Oct. 27 & 28 at the first CoinFest, at the East Greenwich (CT) Civic Center. Please see my separate article about the CoinFest event. Most collectors have either never heard of the 1870-S half dime or do not know much about it.

The most famous coins are not the rarest. Almost all collectors know about 1909-S VDB and 1914-D Lincolns, 1877 Indian Cents, 1913 Liberty Nickels, 1894-S, 1895-O and 1916-D dimes, 1901-S and 1913-S quarters, 1916 and 1918/7-S Standing Liberty Quarters, and other key dates in series that are avidly collected. Moreover, 1804 silver dollars are the most famous of all coins. As fifteen 1804 dollars are known, there are quite a few other coins that are rarer. Most collectors are not familiar with the rarest U.S. coins.

There are three, privately owned U.S. coins that are each unique. Before itemizing the three, it makes sense to emphasize that I am referring to privately owned coins. There are unique pieces in the Smithsonian, and these are more complicated, for at least two reasons. Most unique pieces in the Smithsonian are patterns rather than true coins. Those unique pieces that are definitely true U.S. coins are not necessarily distinct dates. The issue of whether a particular die variety is a separate date is often controversial. There is no doubt that the three privately owned unique U.S. coins are true coins and are distinct dates. (more…)

by Greg Reynolds for CoinLink

Of the twenty-four dimes that were reportedly minted in San Francisco in 1894, only ten are believed to exist today. On Oct. 17, Stack’s auctioned a Proof-64 1894-S dime, for $1,552,500. The auction was held at the Parker Meridien Hotel in midtown Manhattan. The consignor wishes to remain completely anonymous. As the new owner of this 1894-S dime is a “new player” in the game of acquiring really great rare coins, I will refer to this dime as the “New Player’s” 1894-S.

An understanding of this auction record involves more than just a description of the bidding activity. It is necessary to discuss the two other 1894-S dimes that have sold at auction for more than $1 million each. Furthermore, there is the pertinent point that higher grade pieces are often worth multiples of lower grade coins. In addition, the demand for extremely rare coins has increased markedly over the past ten years, particularly since 2003. Moreover, 1894-S dimes are more highly demanded than several other Great Rarities. The aesthetic characteristics of this particular 1894-S dime are also an important factor

This ‘New Player’s’ 1894-S has a nice overall look. It is not very bright, but it is not dark. It is somewhat brilliant. The hair and headband of Miss Liberty, and much of the wreath, feature a cameo contrast. The white glow of these areas contrasts really well with the fields, which feature blends of blue and gray, with purplish overtones. There is a light blue tone about UNITED STATES OF AMERICA. The fields on the obverse (front) are partly covered with a neat, pale orange overtone. The reverse fields are more gray than blue, though appear very purplish when the coin is tilted at certain angles. (more…)