Roosevelt Dimes — Silver Issues, Key Dates, Errors & Collector Guide

Franklin D. Roosevelt died on April 12, 1945, after four terms as president. Public support for a commemorative coin was immediate and strong, driven partly by Roosevelt's personal connection to the dime denomination: he had founded the National Foundation for Infantile Paralysis in 1938, which was popularly known as the "March of Dimes" due to fundraising campaigns that asked Americans to send dimes to the White House. Roosevelt himself had contracted polio in 1921 and spent his adult life dealing with its effects — the connection between the coin, the disease, and the man made the dime the obvious choice. The coin entered circulation on January 30, 1946, which would have been Roosevelt's 64th birthday.

Roosevelt Dimes were struck in 90% silver from 1946 through 1964. Starting in 1965, the composition changed to copper-nickel clad over a pure copper core — the same composition used today. The switch was mandated by the Coinage Act of 1965, passed in response to rising silver prices and a nationwide coin shortage caused partly by hoarding. The transition years (1965–1967) saw no mint marks on any denomination. Pre-1965 Roosevelt Dimes can be identified by their date alone — any Roosevelt Dime dated 1964 or earlier is 90% silver and worth above face value for its metal content.

Full Torch (FT) is a strike designation awarded by PCGS and NGC when the horizontal bands on the torch stem on the reverse are fully separated and sharply defined. Like Full Split Bands on Mercury Dimes, Full Torch indicates a sharply struck example rather than one where the bands merge due to a weak strike or die wear. FT examples can command significantly higher prices than non-FT coins at the same numerical grade — sometimes 3× to 10× more on key dates. Strike quality varies considerably by mint and year, with some dates being far more commonly found with Full Torch than others.

The 1968 No S proof is the rarest major error in modern U.S. proof coinage. When the San Francisco Mint resumed striking proof coins in 1968 after the 1965–1967 hiatus, a small number of proof Roosevelt Dimes were struck without the S mint mark due to a die preparation oversight. Fewer than 10 examples are known to exist. The coin was not discovered until years after the fact, and examples have sold for $10,000–$50,000+ at major auctions. Similar No S proof errors exist in other years and denominations, but the 1968 Roosevelt Dime No S is the most significant and famous of the group.

Roosevelt Dimes are one of the best series for beginning collectors precisely because the range is so wide. Pre-1965 silver issues can be found in circulated grades for just above melt value — typically $2–$4 each at current silver prices — making roll-hunting and album-filling genuinely affordable. Many clad-era dates from the 1970s onward can still be found in circulation at face value. The 1996-W special mint issue and the No P/No S error coins add collecting intrigue without requiring a large budget for most dates. The Full Torch designation gives advanced collectors a quality-based challenge within the same series. A Whitman or Dansco Roosevelt Dime album is the classic way to start and is available on Amazon for under $20.

"Junk silver" is the collector and investor term for pre-1965 U.S. silver coins — dimes, quarters, and half dollars — that are sold in bulk based on their silver content rather than numismatic value. The term "junk" refers to the coins being in circulated, non-collectible grades, not to any defect. Pre-1965 Roosevelt Dimes are among the most common and liquid junk silver coins available. A face-value bag of $1.00 in Roosevelt Dimes (10 coins) contains approximately 0.715 troy ounces of pure silver. They are widely sold by bullion dealers like JM Bullion, Money Metals Exchange, and Kitco in rolls, bags, and tubes at modest premiums above spot silver value.