1894-S Barber Dime : In the world of numismatics, few coins captivate the imagination and inspire awe quite like the legendary 1894-S Barber Dime.
What appears to be a simple ten-cent piece at first glance is actually one of the most valuable and sought-after coins in American history, with specimens routinely fetching well over a million dollars at auction.
This extraordinary rarity stands alongside the 1804 silver dollar and the 1913 Liberty Head nickel as part of the “Big Three” of American coin collecting—legendary pieces that represent the pinnacle of numismatic achievement.
A Mysterious Origin Story
The tale of the 1894-S Barber Dime begins at the San Francisco Mint, where official records confirm that only 24 specimens were struck in 1894.
The circumstances surrounding their production remain shrouded in mystery despite more than a century of research and speculation.
What makes this story so compelling is not just the coin’s extreme rarity but the persistent questions that continue to fascinate collectors and historians alike: Why were so few minted? Who received them? And what happened to the majority of these coins?
Several theories attempt to explain the coin’s unusual mintage:
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The Banker’s Gift Theory: Some believe that John Daggett, superintendent of the San Francisco Mint, had them struck as special gifts for his banker friends, with each receiving three specimens.
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The Accounting Balance Theory: Another explanation suggests that the mint’s annual audit revealed a $2.40 discrepancy in the books, and these 24 dimes (exactly $2.40 worth) were struck to balance the ledgers.
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The Assay Theory: Some numismatic researchers propose the coins were struck for assay purposes, with five pieces reserved for testing, while awaiting an anticipated order for more dimes that never materialized due to economic conditions.
Whatever the truth may be, the lack of definitive documentation has only enhanced the coin’s mystique and desirability among collectors.
The Famous “Ice Cream” Story
Perhaps the most endearing legend associated with the 1894-S Barber Dime is the famous “ice cream story.”
According to this tale, Mint Superintendent John Daggett gave three of these dimes to his daughter Hallie, instructing her to save them until she was as old as he was (61 at the time), as they would become quite valuable.
However, on her way home, the young girl reportedly spent one of the precious dimes on a dish of ice cream, unaware of its future significance.
While numismatic researchers have cast doubts on the accuracy of this story, noting inconsistencies and a lack of contemporary documentation, it continues to be repeated and cherished by collectors. Interestingly, there are actually two versions of the ice cream story—one involving Hallie Daggett and another involving the daughter of a Ukiah, California banker—further complicating the historical record.
The story’s persistence demonstrates how rare coins often become wrapped in folklore that enhances their appeal beyond their inherent numismatic value.
Known Survivors
Of the original 24 coins struck, only nine examples are confirmed to exist today:
| Specimen Name | Grade | Notable Sale |
|---|---|---|
| Eliasberg Specimen | Proof-65 | Sold for over $1 million |
| Dr. Jerry Buss Specimen | Proof-63 | Part of famous basketball owner’s collection |
| James Stack Specimen | Proof-64 to 66 | Various auction appearances |
| “Ice Cream Specimen” | Good-4/6 | Found in circulation, shows heavy wear |
| Romito Specimen | AG-3 | One of the heavily circulated examples |
| Clapp-Eliasberg Specimen | Proof-65+ | Part of legendary Eliasberg collection |
| F.C.C. Boyd Specimen | Proof-65 | Important provenance |
| Daggett Specimen | Proof | Reportedly owned by mint superintendent’s daughter |
| Brand-Roe Specimen | Proof-65/66 | Sold for $2.16 million in January 2025 |
The above specimens represent the known examples, though it’s worth noting that pedigree research on these coins has sometimes been contradictory.
The remaining 15 coins from the original mintage remain unaccounted for, leaving open the tantalizing possibility that additional specimens might someday emerge from obscurity.
Record-Breaking Values
The 1894-S Barber Dime has consistently broken auction records over the decades:
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In 2005, one specimen sold for $1.3 million
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In 2007, another example achieved $1.9 million
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In January 2025, the Brand-Roe Specimen reached $2.16 million
Even the heavily worn “Ice Cream Specimen” would likely command hundreds of thousands of dollars despite its circulated condition, demonstrating that for the rarest coins, even poor condition doesn’t significantly diminish their value.
The Coin’s Design and Specifications
The 1894-S Barber Dime, like all Barber coinage, was designed by Charles E. Barber, the U.S. Mint’s Chief Engraver from 1879 to 1917. The specifications include:
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Composition: 90% silver, 10% copper
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Weight: 2.5 grams
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Diameter: 17.9 mm
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Edge: Reeded
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Mint Mark: “S” below wreath on reverse
The obverse features Liberty facing right wearing a cap, with the inscription “UNITED STATES OF AMERICA” around the periphery and the date at the bottom. The reverse displays the denomination “ONE DIME” within a wreath, with the San Francisco mint mark “S” below.
All known 1894-S dimes were struck as proofs, featuring a sharp strike and mirror-like surfaces, though the two circulated examples have lost these characteristics due to wear.
Could You Own a Million-Dollar Dime?
The discovery of the “Ice Cream Specimen” in a junk box at Gimbels Department Store in 1957, purchased for just $2.40, illustrates why coin collectors continue to search for rare treasures.
With 15 examples still unaccounted for, could one of these million-dollar rarities be hiding in an old collection, a forgotten coin album, or even circulating unrecognized?
While the odds are astronomically small, they’re not zero. Here’s what to look for:
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Check any Barber dimes dated 1894 for an “S” mint mark below the wreath on the reverse
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The mint mark should be clearly visible unless the coin is extremely worn
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Authenticate any potential find with a reputable professional numismatist or grading service
Even if you don’t stumble upon this legendary rarity, the search itself connects you to the rich history of American coinage and the thrill of the hunt that drives collectors.
Why So Valuable?
Several factors contribute to the extraordinary value of the 1894-S Barber Dime:
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Extreme Rarity: With only nine known examples from an original mintage of just 24 coins, it’s among the rarest U.S. coins ever produced.
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Historical Significance: As an official U.S. Mint product documented in Mint records (unlike some other rarities), it has established historical importance.
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Compelling Narrative: The mysterious circumstances of its creation and the charming “ice cream” story enhance its allure.
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The “Big Three” Status: Its association with the 1804 dollar and 1913 Liberty nickel in the pantheon of American numismatic treasures elevates its desirability.
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Investment Potential: The coin has demonstrated consistent appreciation in value over time.
Lessons for Modern Collectors
The story of the 1894-S Barber Dime offers several insights for today’s collectors:
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Knowledge is Power: Understanding mint marks, dates, and key rarities can make the difference between overlooking a treasure and recognizing its significance.
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Condition Isn’t Everything: While condition certainly matters, extreme rarity can trump grade, as evidenced by the value of even the heavily worn examples.
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Documentation Matters: Keep records of your collection’s provenance, as the history of ownership can add significant value.
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Beware of Counterfeits: The high value of this coin has made it a target for counterfeiters. Always seek professional authentication for any potential rarity.
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Stories Enhance Value: The narrative surrounding a coin often contributes significantly to its appeal and value in the marketplace.
1894-S Barber Dime Conclusion
The 1894-S Barber Dime represents the perfect numismatic storm—extreme rarity, historical significance, compelling stories, and continuous appreciation in value.
While most collectors will never have the opportunity to own this legendary coin, its story continues to inspire the hunt for overlooked treasures and appreciation for the rich history embedded in American coinage.
Whether you’re an established collector or new to the hobby, the tale of the 1894-S Barber Dime reminds us that sometimes extraordinary value can be found in the most ordinary places—even in a simple dime.
And while you may never find one in pocket change, the possibility, however remote, adds an element of excitement to coin collecting that few other hobbies can match.
Who knows? Perhaps one day, the 16th known 1894-S Barber Dime will emerge from an old collection or forgotten corner, writing a new chapter in one of numismatics’ most fascinating stories.