Two Dimes in Circulation Could Make You $1.9 Million Richer
Trending| | By Jason Owen
We’ve seen rare and old coins that could be worth lots of money — including vintage pennies that are worth $200,000. But it turns out that there are two dimes that dwarf that amount because they could each be worth millions. These are the 1894-S Barber dimes. They were produced and designed by United States Bureau of the Mint Chief Engraver Charles E. Barber. As a result, they are considered to be part of the barber coinage.
The origin of these rare dimes dates back to the late 19th century. In the Panic of 1893, Americans were fearful about a mini financial crisis. In fact, the economic recession in 1893 was so bad that demand for new coins plummeted. Any new dimes produced that year had to be melted down.
The exemptions to that were the 1894-S Barber dimes. They were created by San Francisco Mint superintendent John Daggett.
Reportedly, only 24 dimes were minted. Of the nine surviving dimes, seven are no longer circulated, meaning just two of these rare dimes are still out there.
There are numerous theories as to why Daggett commissioned the creation of the dimes. Some historians say the Mint’s annual audit on June 9, 1894 showed a discrepancy of $2.40, which resulted in the creation of the 24 dimes. Some theorists believe Daggett created the dimes as special gifts for him and seven banker friends. Under that deal, Daggett and the bankers received three dimes each.
Another theory says that Daggett gave his daughter, Hallie, three of the coins as a present and she spent one of the dimes on ice cream. Most historians argue that there is no proof of this incident.
Because of the mystery surrounding their origin, the value of the dime has increased over the years. In the late 90s, one of the dimes was sold for $825,000.
“It’s a numismatic giant; the greatest coin I have ever handled,” David Lawrence said after he sold it.
Since then, the price of the dime skyrocketed. In January 2016, one sold for $1.9 million.
Keep an eye out for the two remaining 1894-S Barber dimes — and you could make millions. SHARE this with your friends so they know to look for these coins too!