Roosevelt Dimes: A Brief Overview

Posted by Bullion Shark on Mar 12th 2024

Roosevelt Dimes Value and Collectibility

Once a coin has appeared with the same design for 25 years, the U.S. Mint has the authority to change it without congressional approval thanks to an 1890 law. By 1940 this was the case with the dime, which since 1916 had sported the popular design by Adolph Weinman of a Winged Head Liberty that was also known as the Mercury dime.

The Director of the U.S. Mint, Nellie Tayloe Ross, who had served in the position from 1933 to 1953 wanted to see a more modern design on the ten-cent coin and favored putting Benjamin Franklin there. During World War II the importance of increasing coinage for circulation delayed any design change. Before Ross’ plan could begin, President Franklin D. Roosevelt, who had served as president since 1933, passed away on April 12, 1945.

FDR Coin

President Roosevelt, widely known as FDR, had guided the nation out of the Great Depression and much of the war. On May 3, 1945 Louisiana Representative James Hobson Morrison proposed a bill to put FDR on the dime, and two weeks later Treasury Secretary Henry Morgenthau announced plans for a Roosevelt dime, which were widely supported by coin collectors and the much of the public.

What is the March of Dimes?

In 1938 FDR, who had suffered from polio since 1921, founded the March of Dimes, which funded the development for a vaccine against the disease developed by Dr. Jonas Salk largely with dimes that millions of Americans send to the nonprofit for this purpose in a major campaign also called the March of Dimes. This was another compelling reason for putting FDR on the new dime. Today the group works to better the health of mothers and babies since polio was essentially eradicated.

The task of creating the new dime design fell to Mint Chief Engraver John R. Sinnock, who had served there since 1925, though much of the work was actually done by his assistant Gilroy Roberts. The initial designs and models they prepared were rejected by the Commission on Fine Arts, so alternative designs were created. The commission was still unsatisfied and suggested a new design competition, which the Mint Director declined because the coins needed to be ready in time for the start of the March of Dimes campaign in January 1946.

Sinnock made the bust of FDR a little larger and some other changes, creating the coin we all know and use to this day. The reverse of that design shows the Torch of Freedom from the Statue of Liberty (partly because FDR often spoke of four freedoms) flanked on the left by an olive branch and on the right by an oak branch, which respectively symbolized peace and strength.

Sculptor Selma Burke argued that the design was based on a bas relief plaque of FDR she created, which some people agree could have been an inspiration. But Sinnock in 1933 had sketched FDR in person for his first presidential medal, and accounts from the time state he used that and photos of the president to create his design.

The Roosevelt dime design is one that numismatic author Cornelius Vermeule called “clean, satisfying and modestly stylish” and production began with the first coins struck on January 19, 1946 at the Philadelphia Mint. The release had been planned for February 5 but was moved to January 30 because that would have been FDR’s 60^th birthday. Sinnock became the first Chief Engraver to design a circulating coin since Charles Barber created the dime, quarter and half dollars in 1892 that are known by his name.

Clad and Silver Roosevelt dimes

These coins were made from 90% silver from 1946 to 1964, when as with the quarter and half dollar, their composition was changed to clad, which is a sandwich of cooper-nickel around a core of pure cooper.

The coins struck from 1965 to 1967 bear no mint marks (even though coins were made at the Philadelphia, Denver and San Francisco Mint almost each year) because of a coin shortage that was blamed on collectors.

In 1981 the relief of the bust of FDR on the obverse was lowered considerably to help extend the life of dies. In 1980 the dimes made in Philly started to be struck with a “P” mint mark, while dimes made at West Point during part of the 1970s and 1980s, which normally did not have a mint mark, were made with a “W” for mint sets issued to mark the 50^th anniversary of the debut of the coin.

In 1992 90% silver dimes were once again issued this time for inclusion in annual silver proof sets. In 2015 a special set with a silver dime a silver dollar commemorative depicting FDR and Dr. Salk was released. And in 2019 proof set dimes were changed (along with all other silver coinage) to .999 fine silver.

In 2026 a special dime will be issued for the 250^th anniversary of the nation’s founding in 1776 as part of a one-year program for that event in which all coins will feature a special design.

Most valuable Roosevelt dimes

Because they were issued in large numbers, most Roosevelt dimes are not scarce, and both silver and clad versions can be purchased in rolls, even in silver proof. This is also one of the most affordable modern coins to own as a complete set.

The silver ones have a current melt value of $2.00. However, examples in mint state that are graded are worth considerable premiums, especially for the 1949, 1949-D and 1949-S coins in mint state.

In 1955 only 12,450,181 dimes were struck in the Philly Mint, which was fewer than those made in Denver and San Francisco that year, because of a declining economy. The three dimes from that year are the lowest mintages for the series, but because they were widely saved, they are not considered rare.

There are also valuable error issues like the 1982 coins made in Philly that do not have a “P” mint mark, which are worth at least $50-$100. There are also doubled die coins from 1960, 1963 and 1964-D and off-center coins.

The most valuable dimes are those from the 1970, 1975 and 1983 proof sets that do not have “S” mint marks as they are supposed to. For the 1975 set only two are known to exist with one of them having sold in 2011 for just under $350,000!

The 1983 no “S” proof coin is worth from about $500 in PF60 to several thousand dollars in higher grades, while the 1970 no “S” proof dime is worth from about $500 to $1500.

FAQ

What is the history behind Roosevelt dimes?

The Roosevelt dime was introduced in 1946, shortly after the death of President Franklin D. Roosevelt, to honor his memory and his leadership during the Great Depression and World War II. Roosevelt was also a founding member of the March of Dimes, a charity that initially focused on combating polio, a disease Roosevelt himself suffered from. The dime was chosen to bear his likeness as a tribute to his contributions to the nation and his support for the March of Dimes.

What are the key features of a Roosevelt dime?

A Roosevelt dime features the profile of Franklin D. Roosevelt on the obverse (front) side, designed by John R. Sinnock. The reverse (back) side originally featured a torch, olive branch, and oak branch, symbolizing liberty, peace, and victory, respectively. In 1965, the composition of the dime changed from 90% silver and 10% copper to a copper-nickel clad due to the rising cost of silver. The design has remained relatively unchanged since its introduction.

Which Roosevelt dimes are the most valuable?

The most valuable Roosevelt dimes are generally those minted before 1965, as they are composed of silver. Key dates and mint marks can also affect a dime's value, such as the 1949-S, 1950-S, and the 1955-S. Error coins and those in exceptionally high grades (MS-67 and above) can also be quite valuable. The 1982 No P dime, missing the mint mark, is one of the most notable error coins in the series.

How can I start collecting Roosevelt dimes?

To start collecting Roosevelt dimes, begin by familiarizing yourself with the series' history, key dates, and variations. You can start by assembling a collection from circulation, which will give you a feel for the hobby without a significant initial investment. For more valuable or rare dimes, consider purchasing from reputable coin dealers, auctions, or coin shows. Joining a numismatic club or online forums can also provide valuable insights and opportunities to acquire dimes for your collection.

How do I determine the grade of my Roosevelt dimes?

Determining the grade of Roosevelt dimes involves assessing their condition based on factors such as wear, luster, and the presence of any marks or damage. For beginners, comparing your dimes to grading guides or images of graded coins can provide a rough idea of their condition. For a more accurate assessment, especially for potentially valuable dimes, consider having them graded by a professional grading service like PCGS or NGC.

Are there any rare error Roosevelt dimes?

Yes, there are several known error types within the Roosevelt dime series, including double dies, off-center strikes, and clipped planchets. One of the most famous error coins is the 1982 No P dime, where the Philadelphia mint mark "P" was accidentally omitted. These error coins can be quite valuable, especially in higher grades.

How should I store and care for my Roosevelt dime collection?

To properly store and care for your Roosevelt dime collection, use acid-free holders, tubes, or albums designed for coin storage. This protects the coins from environmental damage, handling, and potential chemical reactions that can tarnish or corrode the metal. Avoid cleaning your coins, as this can diminish their value and appeal to collectors.