Old San Francisco dime sells for $1.8 million
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Old San Francisco dime sells for $1.8 million
This silver dime, one of only nine known surviving examples of the 24 that were struck in 1894 at the San Francisco Mint, was purchased for $1.8 million by Legend Numismatics. Photo: Professional Coin Grading Service.

LINCROFT, NJ.- Who says ten cents won’t buy a cup of coffee anymore? A small silver dime made in 1894 at the San Francisco Mint has been sold for $1.8 million.

“Mint records indicate only 24 dimes were struck at the San Francisco Mint in 1894. Today only nine of them with that date on the front and the letter S mintmark on the back are known to still exist. This was a record price for this particular example,” explained Laura Sperber president of Legend Numismatics of Lincroft, New Jersey. She acquired the coin for $1.8 million on behalf of collector Bruce Morelan of Las Vegas, Nevada.

“Bruce now owns the trifecta of multi-million-dollar United States numismatics: one of the eight known original 1804 U.S. silver dollars, one of the five known 1913 Liberty Head nickels and now one of the nine known 1894 San Francisco dimes. We are looking at the possibilities of publicly exhibiting all three together at a major rare coin show,” said Sperber.

“I’m very excited at the opportunity to own this magnificent coin,” stated Morelan. “Very few collectors have ever owned all of the top three most famous American rarities. I’m proud to join that very exclusive group that includes such legendary 20th century collectors as Baltimore financier Louis E. Eliasberg Sr. who was nicknamed ‘The King of Coins,’ Wall Street investor Col. E.H.R. Green, and former Los Angeles Lakers basketball team owner Dr. Jerry Buss.”

The virtually pristine condition dime was authenticated and certified as Proof 65+ (on the numismatic grading scale of 1 to 70) by Professional Coin Grading Service of Santa Ana, California. Legend Numismatics purchased it from rare coin dealers Kevin Lipton of Beverly Hills, California and John Albanese of Far Hills, New Jersey.

“This was the third 1894-S dime acquired for collectors by Legend since our company’s founding in 1987,” said Sperber.

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