A Dime worth nearly $2 million dollars (2024)

AUCTION RECORD: $1,997,500 • PR66BM • 01-06-2016 - PCGS Coin Facts

The 1894-S Barber Dime is one of the most storied and rare coins in American numismatics, often placed alongside the 1913 Liberty nickel and the 1804 silver dollar as one of the "Big Three" rarities. Only 24 of these dimes were struck at the San Francisco Mint, all in Proof condition, making their existence a significant mystery and the subject of various theories. This particular dime, known as the Gem Daggett specimen, is among the finest known examples and has been highly sought after by collectors.

Historical Context and Theories: The reason for the extremely limited mintage of the 1894-S dimes has been debated among numismatists. One early theory suggested they were struck to balance the books at the San Francisco Mint, while another theory, known as the Presentation Specimen theory, proposed that they were minted as souvenirs for banker friends of the Mint Superintendent, John Daggett. The actual story behind these coins remains partly speculative, with only a few known facts including their Proof strike and the year of mintage.

Pedigree and Collecting History: The pedigree of the 1894-S dimes is as intriguing as their origin, with several specimens having well-documented histories that trace through notable collections and auctions. The Daggett Specimen, in particular, is known for its excellent preservation and has passed through the hands of various collectors, each adding to its lore and desirability.

Condition and Valuation: Certified by PCGS as Proof 65, the Gem Daggett specimen exhibits exquisite light blue and claret coloration with light iridescent toning over mirrored fields, and features sharply defined design elements. Its sale for nearly 2 million dollars highlights its rarity and the high value placed on it by collectors, making it a prized possession in the numismatic world.