A dime struck in 1894 at the San Francisco mint was auctioned Monday for $1,322,500, a coin dealer said.

The winning bidder took part in the sale by phone and was not identified.

The coin, described as being in nearly pristine condition, was one of only 24 dimes made that year at the San Francisco mint (search), whose director had requested them as gifts for visiting bankers.

Just 10 of the dimes are believed to remain.

The coin was consigned to the auction by Bradley Hirst of Richmond, Ind., who bought it for $825,000 six years ago, according to John Feigenbaum, president of David Lawrence Rare Coins (search) of Virginia Beach, Va., the auctioneer.