1962 Roosevelt Dime: A Silver Entry in U.S. Coin History
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The 1962 Roosevelt dime sits at an interesting crossroads – it carries real silver content, modest collector appeal, and a price point that makes it one of the most accessible entries into U.S. silver coins. Struck in both Philadelphia and Denver, these dimes are 90% silver and date from the final stretch of silver dime production before the U.S. Mint switched to clad coinage in 1965. Whether you are stacking silver by the roll or filling out a Roosevelt dime set, the 1962 issue deserves a close look.
With silver spot currently around $76 per ounce, the melt value of a single 1962 Roosevelt dime sits near $5.50 – more than 55 times its face value. That alone makes these coins worth pulling from circulation or picking up at coin shows. Add in the numismatic angle, and certain high-grade or Full Bands examples can command prices well above melt. Here is everything you need to know.
Historical Background of the Roosevelt Dime Series
The Roosevelt dime launched in January 1946, just months after President Franklin D. Roosevelt died in April 1945. The U.S. Mint moved quickly to honor FDR, replacing the long-running Mercury dime with a new design by Chief Engraver John R. Sinnock. The obverse shows Roosevelt’s left-facing portrait alongside “LIBERTY,” “IN GOD WE TRUST,” and the date. The reverse features a torch flanked by an olive branch and an oak branch, with “UNITED STATES OF AMERICA,” “ONE DIME,” and “E PLURIBUS UNUM.”
The connection to the March of Dimes was deliberate. Roosevelt had co-founded the National Foundation for Infantile Paralysis, which later became the March of Dimes, and the dime was seen as a fitting tribute. The series ran in 90% silver from 1946 through 1964 – a 19-year window that collectors now call the silver era of Roosevelt dimes.
By 1962, production was running at full speed. The Kennedy administration’s economic climate drove high coinage demand, and 1962 ranked as the fourth-highest mintage year in the entire silver Roosevelt run. That high output is why 1962 dimes are common today, but it also means they are easy to find in all grades – a plus for set builders.
1962 Roosevelt Dime Types and Mintages
Three distinct versions of the 1962 Roosevelt dime exist, all sharing the same 90% silver composition.
| Type | Mint | Mintage | Key Feature |
|---|---|---|---|
| 1962 (Philadelphia) | No mintmark | 72,450,000 business strikes | Standard strike |
| 1962-D | Denver (“D” mintmark) | 334,948,380 | Highest mintage of the three |
| 1962 Proof | Philadelphia | 3,218,019 | Mirror-like fields |
The 1962-D is by far the most common, with nearly 335 million coins struck. Finding one in circulated condition is easy. The Philadelphia business strike is less common but still abundant. Proofs, struck specifically for collector sets, show sharp detail and polished fields – cameo examples with frosted devices carry the strongest premiums.
Mintmarks appear on the reverse, below the torch. A “D” means Denver; no mark means Philadelphia. This trips up newer collectors who expect mintmarks on the obverse – for Roosevelt dimes, always check the reverse.
Composition, Weight, and Silver Content
Every 1962 Roosevelt dime is made of 90% silver and 10% copper. The coin weighs 2.5 grams and measures 17.9 mm in diameter. Pure silver content works out to 0.0723 troy ounces per coin – about 2.25 grams of actual silver.
Live Silver Spot Price – Accurate Precious Metals Refineries
At the current silver spot price of roughly $76 per ounce, the melt value of a single coin is approximately $5.50. That is the floor for any worn or common example. Post-1964 dimes – the clad versions – contain no silver at all, so always verify the date before buying or selling a Roosevelt dime as silver.
A quick way to confirm silver content: weigh the coin. A genuine silver Roosevelt dime hits 2.5 grams. A magnet test also helps – silver is non-magnetic. For higher-value pieces, XRF analysis provides a precise read on metal content without damaging the coin.
Silver stackers sometimes buy 90% silver Roosevelt dimes by the roll or bag as a cost-effective way to accumulate silver. At $76 spot, roughly 14 to 15 dimes equal one troy ounce of silver – a fractional and historically significant way to hold the metal.
1962 Roosevelt Dime Value by Grade
High mintages keep most 1962 dimes near melt value unless they are in exceptional condition. Grade matters most at the top end of the scale.
| Condition | 1962 (P) Value | 1962-D Value | Proof Value |
|---|---|---|---|
| Good/Fine (circulated) | ~$5.50-$6 | ~$5.50-$6 | N/A |
| Extremely Fine / About Uncirculated | $6-$10 | $6-$10 | N/A |
| Mint State MS-63 to MS-65 | $15-$50 | $15-$50 | $10-$20 (PF-65) |
| MS-66 / MS-67+ | $100-$500+ | $100-$500+ | $200-$500+ (PF-67+) |
| Full Bands (FB) MS-65+ | $100-$500 | $100-$500 | N/A |
| Top Pop / Error Coins | $500-$2,200+ | $500-$2,200+ | $500+ |
The Full Bands (FB) designation deserves special attention. It refers to the horizontal bands on the torch’s center being fully separated and clearly defined. Striking quality in the silver era often fell short of this standard, so FB examples are genuinely scarce even on common-date coins like the 1962. A 1962 MS-65 FB can bring $100 to $500 or more depending on the registry population.
Auction results confirm the ceiling. MS-67+ examples have sold for around $2,200. A 1962-D with a curved clip error graded by NGC brought about $25 – undervalued relative to its rarity as an error coin. Slabbed coins from PCGS or NGC typically command a 20% to 50% premium over raw examples of the same grade.
For more context on how 1962 dimes compare across the decade, the Roosevelt dime value guide covers the broader series in detail.
Full Bands and Proof Varieties Explained
Full Bands (FB)
The torch on the reverse has horizontal bands at its center. For a coin to earn the Full Bands designation, all lines in those bands must be complete and unbroken – no merging, no weakness. This requires a well-struck coin from fresh dies on a properly prepared planchet.
Because the Mint prioritized volume over striking quality in the early 1960s, many 1962 dimes show weak or merged bands. That makes FB examples harder to find than the raw mintage numbers suggest. Collectors building registry sets actively hunt them.
Proof Coins
The 3.2 million 1962 proof dimes were struck at Philadelphia using specially polished dies and planchets. The result is mirror-like fields with sharply defined devices. Standard proofs in PF-65 trade for $10 to $20. Deep Cameo (DCAM) examples – where the devices show heavy frosting against mirror fields – are far scarcer and can reach $200 to $500 or more in top grades.
Errors and Varieties Worth Knowing
No major doubled-die varieties are documented for 1962 the way they exist for 1963 or 1964-D. But mint errors do show up:
- Clipped planchets – a curved or straight edge missing from the coin, caused by a misaligned planchet strip during blanking. These are the most common 1962 errors.
- Off-center strikes – the design is shifted, leaving a blank crescent on one side. The more dramatic the offset, the higher the value.
- Die cracks and cuds – raised lines or blobs from a cracked die. Minor cracks add little; large cuds on key design elements are more collectible.
Most “errors” brought to dealers turn out to be post-mint damage – dings, scratches, or environmental wear that mimics an error. Genuine errors need professional grading. The tool can help you check whether a coin has already been slabbed and graded by PCGS or NGC.
How the 1962 Dime Fits Into the Silver Era
The silver era of U.S. coinage ended abruptly. From 1946 through 1964, dimes, quarters, and half dollars were struck in 90% silver. Rising silver prices in the mid-1960s made the metal content worth more than face value, so the Mint shifted to copper-nickel clad in 1965. The history of U.S. silver coinage covers this transition in depth.
The 1962 Roosevelt dime sits near the end of that era. It preceded the surge in silver prices and the hoarding that followed. Coins from 1962 circulated widely, which is why worn examples are still found in old jars and estate collections today. The 1959 and earlier dates, explored in our 1959 Roosevelt dime guide, show similar patterns – common in circulated grades, scarce in gem condition.
For collectors, the silver era run from 1946 to 1964 is a natural set to build. The 1962 is an inexpensive filler. The real challenges in the set are the 1949-S, 1950-S, and 1951-S – key dates with lower mintages that command genuine premiums.
Buying and Storing 1962 Roosevelt Dimes
Where to Buy
Rolls and bags of circulated 90% silver dimes appear regularly at coin shows, estate sales, and online auctions. For uncirculated or proof examples, Heritage Auctions and similar platforms list graded pieces with verifiable sale histories. Buying slabbed coins from PCGS or NGC removes grading uncertainty for anything above MS-64.
For raw coins under MS-63, the melt value is the anchor. Pay close to spot-equivalent and you cannot go far wrong. For gem or FB pieces, check the NGC Census population before paying a premium – some grades have dozens of examples, others have just a handful.
Storage
Silver tarnishes when exposed to air and humidity. Store 1962 dimes in airtight 2×2 flips or a quality coin album. Avoid PVC holders – the plasticizer breaks down over time and leaves a green residue that damages surfaces. Handle coins by the edge, not the face. Cotton gloves prevent oils from fingertips transferring to the coin.
Selling Your 1962 Roosevelt Dimes
Selling silver dimes is straightforward when you know what you have. Circulated examples trade at or near melt. Gem and FB coins deserve a proper appraisal before selling – a coin worth $500 should not go into a bulk silver lot.
Check the current silver spot before any sale. At $76 per ounce, a roll of 50 circulated 1962 dimes contains about 3.6 troy ounces of silver – worth roughly $275 in melt value. Dealers typically pay melt plus a small percentage for common silver; more for graded gems.
If you have silver coins to sell, Accurate Precious Metals offers competitive pricing based on live spot rates. Local customers in Salem, Oregon can bring coins in for a same-day assessment. If you are anywhere else in the country, the mail-in service makes selling simple – request a free insured shipping kit, send your coins, and receive payment quickly. Both options come with transparent pricing and no pressure.
Common Misconceptions About the 1962 Roosevelt Dime
Why Buy or Sell with Accurate Precious Metals
Accurate Precious Metals has been buying and selling precious metals for over 12 years from its Salem, Oregon location, and has earned more than 1,000 five-star reviews from customers across the country. Unlike a pawn shop, Accurate Precious Metals focuses exclusively on precious metals – gold, silver, platinum, palladium, coins, bars, jewelry, and diamonds. That specialization means you get knowledgeable assessments and pricing that reflects the actual market.
For 1962 Roosevelt dimes specifically, the team can evaluate condition, check for Full Bands, and price both common silver rolls and higher-grade individual coins accurately. As an NGC Authorized Dealer, Accurate Precious Metals can also help with grading submissions for coins that might benefit from a slab.
Inventory includes 90% silver Roosevelt dimes and a wide range of other silver coins and bullion products, all priced against live spot. Gold IRA services are also available for investors looking to hold precious metals in a retirement account.
Whether you are in Salem or across the country, selling is easy. Visit the physical location for an in-person offer, or use the mail-in service to send coins from anywhere in the U.S. with free insured shipping. Reach the team at (503) 400-5608 or visit AccuratePMR.com to get started.
Frequently Asked Questions
How much silver is in a 1962 Roosevelt dime?
Each 1962 Roosevelt dime contains 0.0723 troy ounces of pure silver. The coin is 90% silver and 10% copper, weighing 2.5 grams total.
What is a 1962 Roosevelt dime worth today?
With silver at approximately $76 per ounce, the melt value is about $5.50 per coin. Circulated examples typically sell near melt. Gem uncirculated coins (MS-65+) can bring $50 to $200 or more, and Full Bands examples in top grades have sold for over $2,000 at auction.
How do I tell a 1962 Philadelphia dime from a 1962-D?
Check the reverse of the coin, below the torch. A “D” means Denver. No mintmark means Philadelphia. The 1962-D had a much higher mintage – nearly 335 million versus about 72 million for Philadelphia.
Are 1962 proof dimes worth collecting?
Standard 1962 proofs in PF-65 trade for $10 to $20. Deep Cameo examples with heavy frosting on the devices are scarcer and can reach several hundred dollars in top grades. They are worth collecting if you find them at reasonable prices.
What does Full Bands mean on a Roosevelt dime?
Full Bands (FB) refers to the horizontal bands on the torch’s center being fully separated and defined. It requires a well-struck coin. FB examples carry significant premiums over non-FB coins of the same grade because striking quality in the silver era often left the bands merged or weak.
Is a 1962 Roosevelt dime magnetic?
No. Silver is non-magnetic. If a coin claiming to be a 1962 silver dime sticks to a magnet, it is not silver. This is a quick first test, though XRF analysis gives a definitive read on metal content.
Where can I sell my 1962 Roosevelt dimes?
Accurate Precious Metals buys silver coins including 1962 Roosevelt dimes. If you are in Salem, Oregon, visit in person. From anywhere else in the U.S., use the mail-in service at AccuratePMR.com for free insured shipping and fast payment.
