A coin collector in Tampa just paid $2 million for something normally worth only 10 cents — a dime.
You read that correctly — one dime was recently auctioned off in Florida for $1,997,500. Just $2,500 shy of two big fat millions.
The coin wasn’t just any ol’ dime — it’s one of the rarest coins in the world.
The collector, who chose to remain anonymous, purchased an 1894-S dime.
“The 1894-S Barber dime is a classic rarity in American coinage, often grouped with the 1804 dollar and the 1913 Liberty nickel as The Big Three of the United States numismatic rarities,” Heritage Auctions said in a press release.
“The 1894-S remains the most famous, mysterious, and elusive coin in the entire Barber series and has been the stuff of collector dreams since it was first mentioned in the numismatic press by Augustus Heaton in 1900.”
Approximately 2.5 million of these dimes were minted in San Francisco; however, only 10 are known to still exist.
A financial crisis in 1893 caused the demand for coins to plummet — almost every dime during that time was melted down. Only 19 of these dimes ended up going into circulation.
Many coins that end up in auctions such as the Heritage Auction are usually priced in the hundreds of dollars. Very rarely do coins sell into the thousands or millions.
A world record was broke in 2013 with a 1794 silver dollar auctioning for $10,016,875.
That silver dollar better be kept in safes within safes…
The United States actually minted 7 of the top 10 most expensive coins in the entire world, which is an impressive feat considering all of them were purchased for over $3.75 million.
The dime that was purchased is part of what is known as “The Big Three” of coin rarities.
The other two coins that make up The Big Three are the 1804 silver dollar and the 1913 Liberty nickel. Both of those coins sold for millions of dollars as well.
If you happened to be one of the ridiculously lucky ones to have an 1894-S dime, Heritage Auction would pay you $10,000 just for letting them see the piece and authenticate it!
Maybe it’s about time to thoroughly check your change drawer…