1894-S Barber Dime Coin Crossed $5 Million Mark, Still in Circulation
The 1894-S Barber Dime is one of the most famous and mysterious coins in United States history. Experts estimate that if a PR67 example were to appear at auction today, it could easily break $5 million. This coin is a true treasure among collectors, often referred to as one of the “Big Three” U.S. coin rarities, alongside the 1804 Silver Dollar and the 1913 Liberty Nickel.
The Barber Dime Series Overview
Before we dive into the specifics of the 1894-S, it helps to understand the Barber Dime series:
- Designer: Charles E. Barber (U.S. Mint Chief Engraver)
- Years of Issue: 1892–1916
- Metal Composition: 90% silver, 10% copper
- Weight: 2.5 grams
- Diameter: 17.9 mm
The series featured Liberty on the obverse (front) and a wreath design on the reverse.
Why Is the 1894-S Barber Dime So Rare?
Only 24 pieces were ever minted in San Francisco in 1894, making it one of the lowest mintages in U.S. coin history.
But why only 24?
There are a few popular theories:
- Accounting Adjustment: The San Francisco Mint may have needed to balance its annual financial records and produce a small number of dimes to do so.
- Special Proofs for VIPs: Some experts believe these were struck as special proof coins for Mint officials and collectors.
- Private Gifts or Bonuses: A few coins may have been handed out to bankers or friends of the Mint superintendent.
- Melted Down: Out of the 24 made, it’s widely believed that 10 were melted down, leaving only 14 or fewer known examples today.
Out of the original 24 minted, only 9 to 12 coins are confirmed to still exist today, and some are in private collections, while others are occasionally displayed at numismatic exhibitions.
What Is the Value of the 1894-S Barber Dime in 2025?
Because of its rarity, condition, and fame, the 1894-S Barber Dime holds immense value.
| Grade/Condition | Estimated Value (2025) |
| Circulated (G-VG) | $1.2 million – $1.6 million |
| Uncirculated (MS) | $2 million – $3 million+ |
| Proof (PR64–PR66) | $3.5 million – $4.5 million |
| Top Condition (PR66+ or PR67) | $5 million or more |
Recent Record Sales:
- In 2016, a PR66 example sold for $1.997 million.
- In 2020, another sold for $1.44 million at auction.
- Experts estimate that if a PR67 example were to appear at auction today, it could easily break $5 million.
Final Summary
| Feature | Details |
| Name | 1894-S Barber Dime |
| Mint | San Francisco |
| Year Issued | 1894 |
| Total Mintage | 24 coins |
| Current Known Examples | 9–12 |
| Metal | 90% Silver, 10% Copper |
| Estimated 2025 Value | $1.2 million – $5+ million |
| Still Exists? | Yes – but very rarely |
Final Thoughts
The 1894-S Barber Dime remains one of the most coveted and enigmatic coins in the world. With its razor-thin mintage, captivating backstory, and jaw-dropping value, it’s not just a coin, it’s a piece of American history wrapped in silver.
