When it involves American coin accumulating, few pieces evoke as an awful lot awe, thriller, and ancient importance as the 1873 No Arrows Seated Liberty Dime. Often dubbed a “coin collector’s dream”, this elusive dime isn’t always only one of the maximum precious dimes ever offered at auction, however additionally a numismatic rarity that shattered expectations with a price tag attaining near $2 million.
Let’s dive into why this specific dime small in length but massive in value has captured the eye of significant creditors, historians, and auction houses round the arena.
The Origin of the 1873 Seated Liberty Dime
The Seated Liberty Dime series became minted from 1837 to 1891 and functions the long-lasting design of Lady Liberty seated on a rock, protecting a defend in a single hand and a pole topped with a liberty cap within the different. It’s an enduring symbol of American resilience and independence. But the year 1873 became particular.
That year marked a transition in U.S. Coinage. Due to a mild growth in the weight of dimes and other silver coins, the Mint started including small arrows beside the date on these coins to denote the alternate.
- Coins struck before this change were made without arrows.
- Coins struck after the change included arrows on either side of the date.
This change happened mid-year, making the “No Arrows” dimes extremely rare, especially those minted in Carson City (CC).
The $2 Million Dime: 1873-CC No Arrows
Among the 1873 No Arrows dimes, the Carson City (CC) mint version is the rarest and most valuable. In fact, only one known specimen exists of the 1873-CC No Arrows Liberty Dime in collectible condition — making it a unique survivor.
Record-Breaking Auction
- Auction Price: Nearly $2 million
- Auction House: Stack’s Bowers
- Buyer: Anonymous private collector
- Grade: PCGS MS-65 (Mint State)
This sale not only set a record for the most valuable U.S. dime ever sold, but also highlighted the intense demand for rare U.S. coins with historic backstories and extremely limited mintage.
Why Is the 1873 No Arrows Dime So Rare?
The rarity of this coin boils down to timing and minting history:
- The Carson City Mint only struck 12,400 dimes in 1873 before the weight change was mandated.
- Most of those coins were likely melted down when the Mint switched to the new standard with arrows.
- Only one known example survived the melt and remains in private hands.
Historical Context
The Carson City Mint, operational from 1870 to 1893, turned into acknowledged for generating coins with exceptional characteristics. The 1873 ‘No Arrows’ dime is assumed to were minted for the duration of a one-day manufacturing run, adding to its mystique and rarity.
Provenance and Auction Details
Over the years, the coin surpassed through numerous extremely good collections, such as the ones of Louis E. Eliasberg and Waldo E. “Pat” Bolen, Jr. In August 2012, in the course of an public sale at a conference of the American Numismatic Association, the dime bought for $1.84 million, putting a report for the maximum luxurious dime ever bought at public sale.
Factors Contributing to Its Value
Several factors make contributions to the excessive value of the 1873 ‘No Arrows’ Seated Liberty Dime:
- Uniqueness: It’s the best known instance, making it a one-of-a-type piece for creditors.
- Condition: Graded Mint State sixty five, it exhibits minimal wear and top notch element.
- Historical Significance: Its connection to the Carson City Mint provides a rich historical layer.
Conclusion
The 1873 No Arrows Seated Liberty Dime is more than just a coin it’s a symbol of American minting history, a collector’s crown jewel, and a testament to the enduring value of rare coins in the U.S. market. For those passionate about historic coin auctions, liberty dime values, or the thrilling chase of uncovering a million-dollar coin, the 1873 No Arrows dime stands as the ultimate prize. In a world where most dimes are worth ten cents, this rare piece redefines what it means to be valuable.
FAQ’s
Why are there ‘No Arrows’ at the 1873 dime?
The absence of arrows indicates that the coin become minted before the U.S. Mint brought arrows to indicate a exchange in weight standards.
How many 1873 ‘No Arrows’ dimes were minted?
Only one such dime is known to exist, making it an extremely rare collector’s item.
Why is the Carson City Mint big?
Coins from the Carson City Mint are notably renowned due to their confined manufacturing and precise characteristics.
