By Charles Morgan and Hubert Walker for CoinWeek Notes …..
President Franklin Delano Roosevelt’s portrait on the dime was becoming in 1946.
He was a revered determine for lots of the “Best Technology“: those that lived by means of the Nice Melancholy (1929-39) and prevailed in World Conflict II (1939-45). Although his Administration was not with out criticism (numismatists would possibly lament his 1933 Govt Order 6102 that mandated the recall and melting of numerous gold cash), he nonetheless loved nice recognition each on this nation and overseas and was the nation’s solely four-term president.
After Roosevelt died in workplace, the mourning of the nation gave impetus to honoring him on a circulating coin.
It’s generally accepted that Roosevelt had been bothered by polio, although that analysis has been referred to as into query by latest analysis. As a result of the March of Dimes, which funded polio care and analysis, began throughout Roosevelt’s first time period in workplace, matching the dime to Roosevelt made sense.
Ninety p.c silver Roosevelt dimes have been manufactured from 1946 by means of 1964. The continuous rise within the worth of silver bullion within the early ’60s brought about the United States Mint to interchange the silver in all circulating cash with a copper-nickel clad composition, efficient with 1965-dated cash.
Enterprise-strike clad Roosevelt Dimes have been minted in Philadelphia yearly beginning in 1965 and in Denver yearly since 1968. San Francisco has produced clad Proofs since 1968 and each clad and silver Proofs since 1992. No Proofs have been minted in ’65, ’66, and ’67, although Particular Mint Units with these dates have been produced. The cash for these units have been specifically ready, however the high quality of the end is someplace between Proof and an everyday enterprise strike.
Dimes from 1965 by means of 1967 show no mintmark; Denver (“D”) and San Francisco (“S”) mintmarks from 1968 ahead are positioned on the obverse above the ultimate digit of the date. Philadelphia dimes since 1980 have carried a “P” mintmark, and a “W”-mintmark dime (for the West Level Mint) was issued in 1996. The “P” and “W” mintmarks additionally seem above the final date digit.
Practically all clad Roosevelt Dimes are reasonably priced. Circulation strikes with FB designation (Full Bands, the bands on the torch) and Cameo/Deep Cameo Particular Mint Set cash from 1965 by means of 1967 are priced two to 10 (or extra) instances greater than cash with out these distinctions. Cash with further worth premiums are the No Mintmark points: the 1982 circulation strike and the 1968, 1970, and 1983 Proofs. Prooflike circulation strikes are additionally listed in census/inhabitants experiences.
The 1982 situation marked the centennial of Roosevelt’s start.
The Non-Mint Set Years: 1982-1983
Roll hoarders and coin sellers saved 1982 and 1983 Mint output due to the discontinuation of Mint Units for these two years. And whereas collector enthusiasm for clad points has by no means really taken off, the clad problems with 1982 and 1983 don’t have a backstop of one million or so United States Mint Units to assist collectors fill holes.
Guests to the Denver Mint did have the choice of shopping for a Memento Set that together with one uncirculated instance of every coin struck on the Denver Mint plus a big copper medallion. These units at the moment promote for about $50 every.
Including complexity to the equation, most cash struck for circulation throughout this era have been struck with overused dies and lack the visible “pop” of Mint Set cash.
The 1982-D dime was saved in greater numbers than its Philadelphia Mint counterpart, and due to this, the difficulty sells for under a slight premium over the worth of different uncooked uncirculated dimes of the Nineteen Seventies to early Eighties interval.
The Marketplace for the 1982-D Dime
For a lot of traditional coin sequence, reviewing the inhabitants experiences from NGC and PCGS can present a reasonably deep perception into the supply of Mint State examples. Naturally, one has to have a look at the present information and perceive a couple of caveats.
One is that cash could cross over from one firm to the opposite with out being deleted from the census information. It isn’t uncommon for a similar coin to seem in each corporations’ datasets as there isn’t any reporting requirement for cert quantity deletion on the a part of sellers, collectors, or the competing service. Though it’s potential that this has occurred with the 1982-D Roosevelt Dime, we imagine that that is unlikely to any critical diploma given the coin’s market exercise.
Two, cash in licensed holders are typically upgraded. If a coin is shipped in for reconsideration (a course of the place it stays in its current holder except it upgrades) and warrants an improve, the companies will usually delete the previous cert quantity and alter the inhabitants report back to align with its new grade. If the coin is cracked out and resubmitted as a uncooked coin and upgraded, the coin will presumably be represented within the census information in two locations: on the grade that was beforehand assigned to it and on the grade it’s assigned now. On this scenario, the place the over-reporting is most acute, it’s in grades just under grades, the place the coin’s market worth is dramatically greater. An “in-between” coin that may push to that subsequent profitable grade may be submitted a number of instances, hoping it’s going to ultimately improve. This recreation wouldn’t be performed if it didn’t sometimes work. Within the course of, the info a collector or vendor has to go by is muddied. Once more, with the 1982-D Roosevelt Dime, we don’t see proof of this up up to now.
Third, licensed populations supply extra restricted insights for a contemporary coin sequence, particularly one the place the worth of most examples in most grades is low or equal to or lower than the price of submission. Such is the case with the 1982-D Roosevelt Dime. Let’s take a fast take a look at our April 2024 up to date chart the mixed populations of all cash (Mint State cash and Mint State cash with Full Torch/Full Bands designations).
We will make two assumptions when evaluating the 1982-D Roosevelt dime inhabitants information.
The primary is that solely a fraction of the overall variety of Mint State cash for this situation has been submitted for grading. PCGS’s mathematical method suggests a survival fee of over 400,000 items in Mint State. That is an imprecise quantity, however there isn’t any option to really gauge the variety of cash within the market, collections, rolls, and Federal Reserve Financial institution holdings. That mentioned, it is extremely doubtless that a number of hundred thousand examples from the mintage of over 542 million survive in Mint State and can proceed to outlive for many years, if not a century or extra.
The second assumption that we are able to make is that almost all of the cash submitted for encapsulation have been picked for high quality by their submitters with a need that the cash would earn the FB or FT designation and grade MS66 or higher.
Why MS66? MS66 represents the bottom grade within the census the place a coin will doubtless promote for a revenue. Cash graded decrease have an anticipated retail worth that’s lower than the price of acquisition of the coin plus the price of certification. Sometimes, the sellers succeeded in pre-screening cash on the MS66 degree. Sometimes, these cash have been struck effectively sufficient to earn the FB or FT designations. And fewer ceaselessly, submitters put ahead cash that might earn the Excellent Gem grade of MS67. PCGS graded no instance finer than MS67+, whereas NGC licensed seven (5 with out and two with the FT designation) and one almost good instance within the grade MS69.
How Secure Is the Information?
Trendy coin populations balloon after high-profit-triggering occasions, however provided that the related materials is definitely obtainable on the secondary market. After a 1995-W American Silver Eagle graded PR70DCAM by PCGS introduced $86,654 at an April 2013 public sale, the floodgates opened, and sellers and wholesalers throughout the nation raced to submit 1995-W silver eagles in hopes of quick and straightforward income till the tide rolled out. On the 2013 sale, the licensed inhabitants of the coin on the PR70DCAM degree was simply eight items. The client, recognized solely as an East Coast collector, had bought a coin and a ticking time bomb. At the moment, PCGS has graded 501 examples on the PR70DCAM degree, and one can simply be had as we speak for lower than $14,000.
The 1982-D Roosevelt Dime just isn’t the 1995-W Silver Eagle. It isn’t extensively thought-about an amazing fashionable rarity, and it doesn’t come from a particular set with an unique worth of $999, which saved it elusive for many sequence collectors. It was a standard circulating coin that’s notable as a result of the Mint didn’t situation Uncirculated Coin Units in 1982.
Up to now, the info is neither secure nor unstable. It’s useless within the water with little or no submitter curiosity. This could trigger a Klieg gentle to flash within the eyes of a would-be investor. It’s not that the cash are elusive; it’s the collector or vendor keen to put money into grading them. When document costs for this frequent situation begin to creep up, count on that to alter. Specialist collectors wishing to construct a high-end registry set ought to try and make their very own (i.e., grade their very own) conditional rarities for this situation. In the long term, it’s going to show to be a greater play.
How A lot Is the 1982-D Roosevelt Dime Price?
As a uncooked coin in Mint State, the 1982-D dime sells for between $2 and $3. Examples supplied on eBay with higher-quality images could commerce for $6 to $8 every. We fee this coin as barely extra considerable than the 1982-P, which typically sells for a greenback or two extra.
As soon as licensed, the marketplace for the 1982-D dime adjustments dramatically. On the MS65 degree, the coin is a loser. The everyday instance brings $15 or much less, lower than the submission value. For collectors of contemporary licensed cash, it’s at all times a clumsy place to carry a coin that’s graded decrease than nearly all of cash graded as these cash present no profit within the Set Registry competitors.
At MS66, the standard licensed grade, cash deliver $15 to $20. Few examples have been supplied lately with Full Bands or Full Torch. PCGS CoinFacts suggests a retail worth of $135, however we’ve got been unable to supply public sale information for latest gross sales to assist this quantity.
At MS67, cash with out Full Bands or Full Torch Designations commerce for $80-$100. With Full Bands or Torch designations, a significant worth discrepancy exists between the 2 grading companies. A December 2014 Heritage sale of an NGC MS67FT noticed a worth with Purchaser’s Premium at $117.50, whereas an April 2014 sale of a PCGS MS67FB noticed a document worth of $1,410. Was there really a considerable high quality distinction between the 2 items? We haven’t seen both in hand, so we can not say.
Would the NGC MS68FT cash deliver PCGS MS67FB cash at public sale? Presumably, however too little information exists on both aspect of the ledger to attract concrete conclusions. In August 2018, Stack’s Bowers auctioned one, which introduced $1,140. On the time, the coin was a pop 1, the best identified for the date and designation. At the moment, it’s a pop-two coin with none finer. The second coin offered at GreatCollections in July 2023 for lower than half the earlier sale’s worth.
So, relying on the coin’s situation, one can say {that a} 1982-D Roosevelt dime could be price as little as face worth (for circulated items) to as a lot as $500 to $1,000+ for whichever service purports the coin to be the best identified. That’s fairly a ramification and tons of speculative investing potential for America’s most diminutive circulating coin.
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Market Information and Noteworthy Specimens
A second PCGS MS67+FB was added to the pop report since our April 2024 replace.
Prime Inhabitants: PCGS MS67+FB (2, 10/2024). NGC MS68FT (2, 10/2024), and CAC None Graded (0:0 stickered:graded, 4/2024).
- NGC MS68FT #4836040-002: GreatCollections, July 23, 2023, Lot 1397864 – $513.
- NGC MS68FT #2076690-005: Stack’s Bowers, August 17, 2018, Lot 3134 – $1,140. Good. Diagonal hit throughout higher torch bands.
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Design
Obverse:
A left-facing profile of Roosevelt occupies many of the obverse area. Inside the sleek rim in entrance of Roosevelt’s face is the phrase LIBERTY. The motto IN GOD WE TRUST in smaller letters is positioned under the chin. The date 1982 is squeezed into the area contained in the rim and beneath the neck truncation, to the best of John Sinnock’s initials JS, that are just under and oriented parallel to the sting of the neckline. The mintmark D is situated behind the top between the date and the truncation of Roosevelt’s neck.
Reverse:
Contained in the reverse easy rim, the legend UNITED STATES OF AMERICA and the denomination (in barely bigger letters) ONE DIME are utterly encircled, separated by centered dots. Within the middle is a flaming torch flanked by an olive department to the left and an oak department to the best. Forming a horizontal line by means of the bottom of the torch and each branches is a partitioned E PLURIBUS UNUM, with centering dots separating the three Latin phrases.
Edge:
The sting of the 1982-D Roosevelt Dime is reeded.
Designer
John R. Sinnock (1888-1947) served because the eighth Chief Engraver of the USA Mint from 1925 by means of his dying on Could 14, 1947. He’s accountable for the design of each the Roosevelt dime and the Franklin Half Greenback.
Coin Specs
| Nation: | United States of America |
| 12 months of Challenge: | 1982 |
| Denomination: | 10 Cents (USD) |
| Mintmark: | D (Denver) |
| Mintage: | 542,713,584 |
| Alloy: | .750 Copper, .250 Nickel |
| Weight: | 2.27 g |
| Diameter: | 17.90 mm |
| Edge: | Reeded |
| OBV Designer: | John R. Sinnock |
| REV Designer: | John R. Sinnock |
| High quality: | Enterprise Strike |
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