Rare No Mint Mark Proof Coins

Modern Proof coins that were struck at the San Francisco Mint, as most Proof coinage has been since 1968, normally bear an “S” mint mark. A small number of these coins have surfaced over the years that lack the mint mark, and they are among the greatest rarities of modern American coins with some of them even being unique. Continue reading to learn more about rare no mint mark proof coins.

1976 “No S” Bicentennial Eisenhower Proof silver dollar

The king of such coins is the 1976 Bicentennial Eisenhower silver dollar Proof coin with no mint mark, or “no S”, that features like all other Eisenhower dollars the dual “1776-1976” inscription below the bust of the former president and general. It is also important to note that these coins are Type 2 examples that have thinner lettering on the reverse inscriptions.

Halfway through 1975 the Mint’s Chief Engraver contacted the designer of the bicentennial reverse, Dennis R. Williams, to ask if he could change the reverse design so that the coins would strike better. Those coins were introduced in 1976 and carry the dual inscription "1776-1976" like all Bicentennial Ike dollars.

Only one example exists to date of this amazing coin that grades PCGS PF66 DCAM and was purchased in 2002 by modern coin expert Mitchell Spivack who considers it “the rarest and most special modern’ U.S. coin in existence.” PCGS currently estimates its value at $850,000. It is also unique in being the only Type 2 Ike Proof dollar struck in 40% silver instead of clad.

The origins of this coin remain a mystery. In 1974 prior to the release of the Bicentennial version of the Eisenhower dollar, trial examples were produced in Proof at the Philadelphia Mint. Some of those trial pieces were struck by artists who won the design competition for this coin and did not have the “S” mint mark because they were struck at the Philadelphia Mint, but they were later destroyed and replaced with coins that have the “S”.

Others were made at the request of Mint Director Mary Brooks for presentation to President Gerald Ford and other dignitaries, but they all carry the “S” mint mark and were Type 1 reverse coins. A few of these coins have survived.

There are no records explaining why examples with the Type 2 reverse were struck in Proof with no mint marks.

In 1977 the coin was discovered in a cash register at the Woodward and Lothrop department store in Washington, DC area. As Ron Guth and Jeff Garrett argue, the coin is likely either a trial piece of the new Type 2 variety, or it was made to be given to dignitaries. Some speculate that if it was the latter, they may have spent the coin not understanding how rare it is!

1975 No “S” Proof Roosevelt dime

With only two examples known to date, this coin is also the #1 ranked modern U.S. coin by longtime researchers and coin dealers Scott Schechter and Jeff Garrett.

The origin of this piece is likely the practice in the late 1960s and early 1970s of producing dies for Proof coins at the Philadelphia Mint and then sending them to the San Francisco Mint too be struck. This is believed to be the reason for the existence of a number of “No S” Proof coins, including the 1968 and 1970 pennies with no “S” and the 1971 nickel of the same type and most importantly the 1975 No S dime.

In 1975 a collector who orders Proof sets from the Mint discovered that two of his 1975 sets had dimes that lacked the “S” mint mark. He later sold both sets to a dealer, and for 30 years the coins did not change hands again. Then in 2011 one of them was sold at auction for $349,600, which is the event that brought the coin to the attention of the public and numismatists.

When the first edition of their book, 100 Greatest U.S. Coins, was released in 2011 (and presumably written in 2010), Schechter and Garrett did not include this coin because they did not believe it existed, but in the 2017 edition it ranks #1!

Because it has now been almost 50 years since the discovery of this coin, most numismatists do not think it is likely that other examples are still out there, but it is possible. And experts believe that what happened is that Mint employees noticed the error and destroyed as many examples as they could.

1990 “No S” Proof Lincoln penny

The 1990 penny struck in Proof with no mint mark is not quite as rare and valuable as the two coins discussed above. PCGS has graded 233 of them, including 67 that grade PF69 DCAM– the top grade.

Currently, this 1990 penny is valued at $2,100 in PF63, $2,500 in PF65 and $5,500 in PF69. The record is $20,700 for a PF69 example sold in 2007.

This coin was first discovered on July 18, 1990 by a collector, and afterwards the Mint announced that some of these coins had been accidentally struck at the San Francisco Mint. It also said 145 examples had been destroyed. The coins were found in both regular Proof sets and Prestige Proof sets from 1990.

It is believed that this error is the result of accidentally processing a die for a mint state 1990 penny as a Proof coin as a result of the practice at the time of adding mint marks by hand to individual dies, which increased the possibility of such errors.

Experts believe the total mintage of this coin was 3,700 – the number of Proof cents that could be made at the time with one die pair minus the 155 the Mint found and the 250 or so that collectors have discovered, unless a smaller number made it out of the Mint because they were discovered in time. So check your 1990 Proof sets!

Sources:

https://coinweek.com/modern-coins/modern-coin-rarities-explained-the-1975-no-s-roosevelt-dime/

https://www.pcgs.com/coinfacts/coin/1976-1-no-s-type-2-silver/62402

Scott Schechter and Jeff Garrett, 100 Greatest U.S. Modern Coins (Whitman, 2017)

FAQ

How many other types of "No S" proof coins exist besides those mentioned in the article?

There are several other types of "No S" proof coins besides those mentioned in the article. These include various denominations and years, such as the 1968 "No S" Roosevelt Dime, the 1970 "No S" Roosevelt Dime, the 1971 "No S" Jefferson Nickel, and the 1990 "No S" Lincoln Cent. Each of these coins shares the common characteristic of lacking the "S" mint mark, which is typically present on proof coins struck at the San Francisco Mint.

What is the process for authenticating and grading a "No S" proof coin?

The process for authenticating and grading a "No S" proof coin involves several steps. First, the coin must be carefully examined by experts to confirm its proof status and the absence of the mint mark. This examination includes checking the coin's mirror-like finish and sharp details, which are indicative of proof coins. After initial verification, the coin is sent to a professional grading service, such as PCGS (Professional Coin Grading Service) or NGC (Numismatic Guaranty Corporation). These services provide a detailed evaluation of the coin's condition, assign it a grade based on their standards, and encapsulate it in a protective holder with a certification label. This certification process helps ensure the authenticity and quality of the coin for collectors and investors.

Are there any specific storage or handling recommendations for maintaining the value and condition of "No S" proof coins?

To maintain the value and condition of "No S" proof coins, specific storage and handling recommendations should be followed. These coins should be stored in a cool, dry environment to prevent damage from humidity and temperature fluctuations. Using airtight holders or capsules designed for coin storage can protect them from dust, dirt, and physical damage. It's essential to handle the coins with clean hands or gloves to avoid oils and dirt from fingers that could tarnish the coin's surface. Additionally, coins should be kept away from direct sunlight and harsh lighting to prevent fading or discoloration. Regularly inspecting and cleaning the storage environment can help preserve the coins' condition and maintain their market value over time.

What are no mint mark proof coins?

No mint mark proof coins are coins that were struck as proofs but do not bear the mint mark typically indicating where they were produced. Proof coins are specially made for collectors and have a higher quality finish compared to regular circulation coins.

Why do some proof coins lack mint marks?

Some proof coins lack mint marks due to minting errors or oversights during production. These errors can make such coins highly sought after by collectors due to their rarity and unique characteristics.

Which no mint mark proof coins are the most valuable?

The most valuable no mint mark proof coins include the 1968 No-S Roosevelt Dime, the 1970 No-S Roosevelt Dime, the 1971 No-S Jefferson Nickel, and the 1990 No-S Lincoln Cent. Their value is driven by their rarity and the fact that they are recognized mint errors.

How can you identify a no mint mark proof coin?

You can identify a no mint mark proof coin by closely examining the area where the mint mark should be. Proof coins typically have a mirror-like finish and sharper details, so the absence of a mint mark in this context indicates a no mint mark proof coin.

What causes a proof coin to be struck without a mint mark?

A proof coin can be struck without a mint mark due to a die error, where the mint mark is inadvertently omitted from the die used to strike the coin. This can occur during the preparation of the dies at the mint.

How rare are no mint mark proof coins?

No mint mark proof coins are quite rare because they result from specific minting errors. The rarity of each coin varies depending on the year and the specific circumstances of the minting error.

What should collectors look for when acquiring no mint mark proof coins?

Collectors should look for coins with high-quality proof characteristics, such as a mirror-like finish and sharp details. Authenticating the absence of the mint mark and ensuring the coin's condition is crucial for maintaining its value.

How are no mint mark proof coins authenticated?

No mint mark proof coins are authenticated by professional grading services like PCGS and NGC. These services verify the coin's proof status and the absence of the mint mark, providing a certificate of authenticity and a grade for the coin.

Have no mint mark proof coins been discovered recently?

No mint mark proof coins are generally discovered soon after they are released, but new finds can still occur as collectors and dealers examine proof sets. Each discovery adds to the understanding of the error and its prevalence.

What impact do no mint mark proof coins have on the coin collecting market?

No mint mark proof coins have a significant impact on the coin collecting market due to their rarity and the interest they generate among collectors. These coins often command higher prices and are seen as unique pieces that add value to any collection.