When I was very young, I was intrigued and excited by the come-ons in print ads about “rare and valuable” coins or stamps. We’ve all seen them. They were a magazine staple in the 1960s and still pop up today. In the early ‘60s, comic books were rife with promises telling kids they would have a fortune if they had a one-cent stamp from British Guiana in their collection.
Yes, that stamp was actually worth more than any kid could imagine. The thing is that it was unique, so only one individual could actually be “that” rich person. Three years ago, the stamp traded hands for over $8.3 million. To this day, kids search hopefully for such treasure worth endless riches.
The same held true for “Liberty” nickels dated 1913. Ads from coin dealers promised equal riches for one of those. $50,000 in 1960. $250,000 by 1980. Two years ago, in 2022, one sold for $4.2 million. Only five were ever struck – and those under spurious circumstances. That’s a whole other story unto itself. Either way, kids reading Archie, Superman or Popular Mechanics would dream the dream, “what if ?!?” ....
Few comics are found on drug store shelves these days. Those enticing ads from long ago have been supplanted by online articles. A recent piece in a major online national magazine boasted, “If You Have One Of These Dimes, You’re Sitting On Nearly $2 Million.” I couldn’t resist. I was transported back to the ‘60s. Now older, wiser and more skeptical, I found the story to actually be true, even more so than those earlier comic book promos.
Even though the picture in the story showed the wrong dime – a modern and common Roosevelt variety like we have circulating today – the one the article was referring to was a “Barber” type minted 130 years ago in 1894. Named for the coin’s designer Joseph Barber, it features an allegorical image of Miss Liberty wearing a laurel wreath.
Several million such dimes were struck in 1894 so they’re not exactly rare. That is unless it was minted in San Francisco. Only 24 coins were struck with the “S” mintmark on the reverse. San Francisco Mint superintendent John Daggett personally ordered the scant few to be struck. Of those, he gave three to his young daughter - something illegal today. He told her to save them. Too young to understand, she soon spent one on ice cream. Ooops.
Today, the whereabouts of only nine of those 1894-S dimes are known. As for the rest, several are thought to still be hiding somewhere. So, is it worth looking? I’d say so. In 2016, an anonymous buyer paid just under $2 million for one. It’s entirely possible that some of those missing specimens are still waiting to be found in a forgotten box or sock drawer.
Naturally, no good deed or effort goes unpunished. That’s because, whenever massive sums of money are bandied about, thieves and counterfeiters quickly see abundant opportunity. Ergo, “caveat emptor” or “buyer beware” must always be the watchwords.
Because some of those tiny mint mark letters make such a huge difference in value, some extraordinarily talented yet unscrupulous “artists” have been able to intricately lift off mint mark letters from non-rare versions of copper, nickel, silver or gold coins and deftly insert them onto a common dated variety. The result is an impressive counterfeit.
Such was the case recounted in an edition of The Numismatist hobby publication regarding a fairly common 1921 Buffalo Nickel. The ordinary version of that nickel had a mintage of over 10 million. In uncirculated condition it’s worth about $120. If it were to be a much rarer 1921-S variety, in that same condition, the value would be upwards of $2,000. Clearly, if a dishonest craftsman had the expertise to remove the “S” from a common nickel and insert it onto a 1921 version it would be worth it. That is, if it weren’t detected.
Fortunately, reputable grading and authentication services can quickly determine if coins have some level of fakery applied. That’s why it’s so essential that coins of value (or stamps, baseball cards, comic books or most any collectible of potential worth) be adjudicated by a recognized service.
The days of 1960s comic book coin ads may be gone, but are still reflected in the words from a popular song of that era. “Dreams can come true; it can happen to you, if you’re young at heart.”
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