One of the most mysterious and sought-after coins in American numismatic history is the 1894-S Barber Dime. This dime has sold for high to $1.9 million at auction, despite just 24 pieces having been produced and only nine known to survive today. Both collectors and historians are still fascinated by its rarity and the mystery surrounding its creation.
The History Behind the Barber Dime: Origins and Legacy
Charles E. Barber, the U.S. Mint’s Chief Engraver, created the Barber Dime, which was manufactured between 1892 and 1916. Lady Liberty is depicted on the coin’s appearance, while the reverse bears a wreath surrounding the value. The 1894-S issue from the San Francisco Mint is an exceptional outlier, even though other years saw significant mintages.
The Mystery of the 1894-S Barber Dime
Several theories attempt to explain why only 24 of these dimes were made:
- Special Gifts: One theory suggests that John Daggett, the Mint’s Superintendent, had the dimes struck as gifts for important bankers and influential people.
- Family Story: A popular tale says that Daggett gave three of the dimes to his daughter, Hallie, telling her to keep them for their future value. However, she reportedly spent one on ice cream, a decision she later regretted when she realized how much it was worth.
- Accounting Reasons: Another explanation is that the San Francisco Mint produced 24 dimes to help balance its accounts at the end of the fiscal year, using leftover silver bullion.
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Rare Surviving Specimens and Their Valuations
Only nine of the original 24 specimens are known to exist today. They are in a variety of states, from very worn to almost perfect proofs. The 1894-S Barber Dime’s significant sales are shown in the table below:
| Year | Auction House | Grade (PR) | Sale Price |
|---|---|---|---|
| 2005 | Unknown | PR66 | $1,300,000 |
| 2007 | Unknown | PR66 | $1,900,000 |
| 2016 | Heritage Auctions | PR66 | $1,997,500 |
| 2019 | Stack’s Bowers | PR63 | $1,320,000 |
| 2020 | Stack’s Bowers | PR65 | $1,440,000 |
Key Factors Affecting Coin Value
The 1894-S Barber Dime is extremely valuable for a number of reasons:
- Extreme Rarity: Its scarcity greatly increases its value, as there are only nine known instances.
- Historical Significance: Collectors are drawn to it because of the enigmatic circumstances surrounding its creation.
- Condition: greater Proof grades, or coins in better condition, fetch greater values.
- Market Demand: Due to the coin’s legendary status, top collectors have a high demand for it.
The Ultimate Guide to Collecting the 1894-S Barber Dime
The 1894-S Barber Dime is a highly sought-after coin, but it’s rare and can be very expensive. For collectors who admire Barber Dimes, focusing on coins from other years might be a more affordable option, offering a chance to explore this fascinating series without spending a fortune.
This coin is famous for its rarity and the mystery surrounding its history. The limited number made and the many theories about how it was created continue to interest collectors and historians alike. As time goes on, the appeal and value of the 1894-S Barber Dime will likely remain strong, ensuring its place in the history of American coins.
FAQs
Q1: Where were the 1894-S Barber Dimes minted?
Ans: The 1894-S Barber Dimes were minted at the San Francisco Mint.
Q2: How can I identify an 1894-S Barber Dime?
Ans: Look for the ‘S’ mintmark below the date, indicating it was struck at the San Francisco Mint.