When contemplating some of the most intriguing Modern US coins, several
of the No S Proof coins come in mind. In particular, the 1968-S Proof
Dime -- the first date for the Roosevelt Dime Proofs without the "S"
mint mark. After thorough research, experts concluded that the "S" mint
mark was not punched into the die creating this new variety. The mistake
must have been caught by mint employees early in the process as only a
few examples managed to escape. This was also the first date for any
series of US coins where the "S" mint mark was omitted.
Walter Breen's "Encyclopedia of US Coins" reported 6 known at the time
of publishing. However, some experts in the field concluded there were
more than 6 but less than 12 in existence. Currently the PCGS Population
Report shows 15 examples in all grades: six coins in Proof 67 and four
in Proof 68 (without the Cameo designation). For the Cameo designation,
one has been graded Proof 66 Cameo and the three highest graded are in
Proof 68 Cameo. Whatever numbers of examples exist today, we know for
certain it is a very small quantity. We may never know for sure the
exact amount but owning an example with such intriguing history behind
it can be a story of its own.
If one would have acquired an example back in 1999 it would have proven
to be a wise decision. Some of the few major appearances for these coins
have been through major auction firms. For example, in 1999 a PCGS PR 68
example realized $6,038. Since then, the 1968-S "No S" Proof Dime has
appreciated efficiently in price. The most recent sale in 2006 saw a PR
68 Cameo example sell in a Heritage Auction for $48,875. One prior sale
was in 2005 for a PR 68 example which fetched $32,200 at auction.
Since its discovery, the 1968 No "S" proof dime has not only proven to
be scarce but has performed very well in the collectables coin market.
It might be a while until another example makes its next appearance.
This variety is considered by many as a true modern rarity in its own
league. One thing is certain -- the availability will only become
scarcer and with its track record the price might be much higher than
today's prices.