The 1873 ‘No Arrows’ Seated Liberty Dime Sold for $2 Million at Auction
The numismatic world was abuzz when a unique 1873 ‘No Arrows’ Seated Liberty Dime fetched an astounding $3.6 million at a recent auction.
This remarkable sale not only underscores the coin’s rarity but also highlights the fervent interest among collectors for exceptional pieces of American coinage history.
The 1873 ‘No Arrows’ Seated Liberty Dime: An Overview
The Seated Liberty Dime, designed by Christian Gobrecht, was minted from 1837 to 1891. The 1873 ‘No Arrows’ variant is particularly significant due to its unique history and extreme scarcity.
Historical Context
In 1873, the Coinage Act mandated changes in the weight of certain silver coins, including the dime. To denote this modification, arrows were added beside the date on the coin.
However, a limited number of dimes were produced without these arrows before the act’s implementation, making the ‘No Arrows’ dimes exceedingly rare.
The Carson City Mint and Its Rarity
The Carson City Mint, operational during the late 19th century, produced a limited number of ‘No Arrows’ dimes in 1873.
Records indicate that 12,400 such dimes were minted. However, due to the Coinage Act’s requirements, most were melted down, leaving only a single known survivor today.
Significant Auction Sales
The 1873 ‘No Arrows’ Seated Liberty Dime has a storied auction history, reflecting its increasing value over the years:
| Year | Auction House | Sale Price |
|---|---|---|
| 1996 | Bowers & Merena | $550,000 |
| 2004 | Bowers & Merena | $891,250 |
| 2012 | Stack’s Bowers | $1,880,000 |
| 2023 | Heritage Auctions | $3,600,000 |
The most recent sale in 2023 set a new record, nearly doubling its previous auction price.
Factors Contributing to Its Value
Several elements contribute to the coin’s exceptional value:
- Uniqueness: As the only known surviving specimen of its kind, its singularity cannot be overstated.
- Historical Significance: The coin represents a pivotal moment in U.S. minting history, marking the transition mandated by the Coinage Act of 1873.
- Condition: Graded as MS-65, the coin boasts a mint state condition, enhancing its desirability among collectors.
The 2023 Auction: A Landmark Event
In January 2023, Heritage Auctions presented this unique dime, and it realized a staggering $3.6 million. This sale not only set a new record for this particular coin but also underscored the robust market for rare numismatic treasures.
The 1873 ‘No Arrows’ Seated Liberty Dime’s journey—from a routine minting to becoming a million-dollar artifact—epitomizes the allure of numismatics. Its rarity, historical context, and pristine condition make it a crown jewel for collectors and a testament to America’s rich coinage legacy.
FAQs
Why is the 1873 ‘No Arrows’ Seated Liberty Dime so rare?
Due to the Coinage Act of 1873, most ‘No Arrows’ dimes were melted down to comply with new weight standards, leaving only one known survivor.
What does ‘No Arrows’ signify on the Seated Liberty Dime?
‘No Arrows’ indicates the absence of arrows beside the date, denoting coins minted before the Coinage Act of 1873’s weight change mandate.
How does the Coinage Act of 1873 relate to this dime?
The act required changes in coin weights, leading to the addition of arrows on coins minted afterward. ‘No Arrows’ dimes were produced just before this change.
