1894-S Barber Dime

The story of the 1894-S

Production at San Francisco fell off a cliff in 1894. Only 24 were made, against 2.5 million the year before. That drop is why the 1894-S is the one people look for. In 1895 the figure was 1.1 million.

The other mints made far more that year: 1894 alone came to 1.3 million, roughly 55417 for every 1894-S. If you're checking a pile of 1894 coins, the S is the one to look for. In the whole series, its mintage sits closest to the 1895-O (440,000) and the 1913-S (510,000).

Of the 25 Barber Dimes San Francisco struck between 1892 and 1916, this is the scarcest. No Barber Dime of the 1890s had a smaller run.

More on the 1894-S

Mint records show that San Francisco struck just 24 dimes in 1894, all with proof surfaces. Why it struck so few has never been settled. Researchers have suggested a die test, a small entry made to balance the coinage accounts or a favor for local bankers. A popular story says Superintendent John Daggett gave three to his daughter Hallie, who spent one on ice cream, but no record supports it. What is better documented is that the chief coiner reportedly sold two or three pieces in 1894 and that two uncirculated examples went into an early collection later bought by Louis Eliasberg.

Only about ten are believed to survive. The 1894-S is one of the most famous rarities in American coinage and a significant rarity in any condition. If you think you have one, the odds are overwhelming that it is an 1894 dime with an added or altered mint mark, or an outright counterfeit. A genuine coin has proof surfaces and a traceable history, so authentication by a major grading service is essential.

Hard times and the rarest dimes (1894 to 1897)

Demand for new coins was weak during the depression of the mid-1890s and Barber dime mintages show it. Philadelphia struck 1,330,000 in 1894, 690,000 in 1895 and 2,000,000 in 1896 before rebounding to 10,868,533 in 1897. New Orleans never reached a million in these four years, with 720,000 in 1894, 440,000 in 1895, 610,000 in 1896 and 666,000 in 1897. San Francisco made 1,120,000 in 1895 and 1,342,844 in 1897, so its coins of those years are scarce but not keys.

This is where the rarities of the series cluster. The 1895-O, with 440,000 struck, is the key among regular business strikes and is usually found heavily worn. The 1895 is the scarcest Philadelphia date. The 1894-O, 1896-O, 1896-S (575,056) and 1897-O are semi-keys. Above them all sits the 1894-S, of which San Francisco struck just 24 pieces in proof format for reasons that have never been fully explained. Only about ten are believed to survive.

Scarce dates attract altered and counterfeit coins, so a key date from these years deserves a slow, careful look. Check the mint mark under magnification for a clean outline, the right size and no seam where it meets the field. Then compare the date digits with each other for matching style and spacing. Worn examples of the key dates still carry a collector premium, while the Philadelphia 1897 is a common date that trades close to metal value in low grades.

Elsewhere in US coinage in 1894

The San Francisco Mint struck just 24 dimes dated 1894, one of the most famous rarities in American coinage.