A rare dime has fetched just under $2 million at an auction in the US.

The 1894-S dime belonging to a private owner was struck at the San Francisco Mint. Only 24 were made, and only nine are thought to still exist.

Experts say the dime is a rare icon in the coin collector's world and is in perfect condition.

Heritage Auctions says an experienced collector, who wishes to remain anonymous, outbid 15 others vying for the piece at the auction in Tampa, Florida. The winner paid $1,997,500.

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