1962 Roosevelt Dime Value Guide

The 1962 dime is a 10-cent coin issued by the US Government through their minting center in 1962. As a silver coin, which is more than 60 years old, it can be very valuable in the eyes of collectors.

For this reason, let us tell you more about its composition, design, specifications, and historical milestones. 

What Is the 1962 Roosevelt Dime Made Of?

Today, most US coins are made of base metals such as copper and nickel. However, this wasn’t the case for coins issued before 1965.

The 1962 Roosevelt dime is made of 90% silver and 10% copper. It has the following specifications:

• Value – 10 cents
• Edge – reeded
• Weight – 2.50 grams
• Diameter – 17.90 millimeters

The 1962 dime is part of the Roosevelt dime series, which was first issued in 1946 and is continually issued to this present day. Normally, the Roosevelt dimes are minted in four locations: Philadelphia, Denver, San Francisco, and West Point. However, the 1962 dime was only struck in the Philadelphia and Denver Mint Centers.

Image source: USA Coin Book

The Roosevelt Dime features the image of Roosevelt, the 32nd president of the United States. On the reverse, the images include olive and oak branches. Between these branches is the Liberty Torch.

Roosevelt was an instrumental figure in the founding of the March of Dimes. After he died in 1945, Congress felt that the dime was the ideal US coin for Roosevelt. Thus, starting in 1946, the Roosevelt Dime was born. The design, which John Sinnock prepared, essentially remained the same until this day.

1962 Roosevelt Dime Varieties

The 1962 Roosevelt dime comes in three varieties and only differ on their mint mark and whether they are made as a proof or regular coin.

Here are the 1962 varieties and their mintage:

The Denver and Philadelphia Mint Centers worked together to produce more than 410 million dimes in 1962. This mintage figure is higher than what was produced in 1961 but lower than what was produced in 1963.

Here’s a deeper look at the 1962 dime varieties:

1962 D Roosevelt Dime

Photo Source: PCGS

The Denver Mint produced more than 334 million dimes in 1962. This was higher than what was produced in 1961, just around 209 million. However, in 1963, the Denver Mint produced even more, reaching up to 400 million.

1962 P Roosevelt Dime

Photo Source: PCGS

The Philadelphia Mint produced more than 72 million 1962 dimes. Many of the 1962-P dimes were hoarded by the time they were released. So, you should be able to find a lot of 1962 dimes in top grades. Circulated 1962-P dimes today can be worth around $2 to $2.5.

1962 Proof Roosevelt Dime

Photo Source: PCGS

The 1962 dime also comes in a proof version released from the Philadelphia Mint. Proof coins are special coins made with extra care. It looks more attractive and detailed compared to regular coins. Thus, it is more valuable than other regular coins.

The demand for proof dime coins was high in 1962. Thus, more than 3 million proof dime coins were issued.

List Of 1962 Roosevelt Dime Errors

In 1962, more than 410 million dimes were produced by the US Mint. Thus, it is not difficult to see that errors can easily happen during minting.

When a dime coin with an error comes with unique and rare attributes, it can be very valuable. So, you should also watch out for these error coins.

To help you, here are some of the most common 1962 Roosevelt dime errors:

Clipped planchet

Clipped planchet was perhaps the most common error type that affected the 1962 dimes. This happens during the cutting of the coin. Due to the misfeed of the metal sheets, the planchet cutter hits the wrong area and includes a portion of the previous cut area. This led to the clipped planchet error.

Here’s an example of a clipped planchet error on a 1962 dime:

Image source: eBay

Repunched mintmark

The repunched mintmark (RPM) error happens when the mintmark punch hits the blank coin twice. When there’s a difference in the angle of strike, the mint mark can have a doubling appearance.

Here’s how it looks:

Image source: NGC

Doubled die error

There are times when the die hits the planchet twice. This happens when the planchet holder doesn’t release the coin in time. Usually, the second strike will just hit the same place as the planchet, and the error isn’t that obvious. However, when the second strike hits the coin at a different angle, there is a doubled appearance on the coin’s surface.

How Much Is 1962 Roosevelt Dime Worth Today?

The value of the 1962 Roosevelt dime would primarily depend on its appearance, composition, rarity, and level of preservation. Circulated 1962 dimes usually cost around $1 to $3. It can be worth a lot more if it is in Mint State.

The face value of the 1962 Roosevelt dime is 10 cents, while its melt value is $1.5813. Because it is made of silver, it has a higher melt value than its face value.

There are Roosevelt dimes that are worth more. Some can even be worth thousands of dollars. To give you an idea, take a look at this chart of auction records for each variety:

How Does The Grading System Work?

Professional numismatists joined in the 1970s and established CoinGrading standards, known as the Sheldon Scale. These numismatists now assign grades at key places on the seventy-point scale, using the most regularly utilized numeric points in conjunction with the original adjective grade. The following are the most common coin grades:

• (P-1) Poor – Indistinguishable and probably damaged; if used, must have a date and mintmark; otherwise, rather battered.
• (FR-2) Fair – Nearly smooth, but without the damage that a coin graded Poor often possesses. The coin must have enough detail to be identified.
• (G-4) Fair – Inscriptions have merged into the rims in some areas, and important elements have been mostly erased.
• (VG-8) Very Good- A little weathered, but all primary design elements are visible, albeit faintly. There is little, if any, central detail left.
• (F-12) Good – The item is very worn, yet the wear is even, and the overall design details stand out clearly. Rims are almost completely isolated from the field.
• (VF-20) Very Fine – Moderately weathered, with some finer features still visible. The motto or all letters of LIBERTY are readable. Both sides of the coin have entire rims separated from the field.
• (EF-40) Extremely Fine – Gently used; all gadgets are visible, and the most important ones are bold. The finer details are bold and clear; however, light wear may be seen.
• (AU-50) Uncirculated – Slight evidence of wear on the coin’s design’s high points; it may have contact marks; eye appeal should be adequate.
• (AU-58) Uncirculated Choice – Slight traces of wear, no severe contact marks, almost full mint shine, and great eye appeal.
• (MS-60) Mint State Basal – Strictly uncirculated; no indication of wear on the coin’s highest points, but an unsightly coin with reduced luster, visible contact marks, hairlines, and other flaws.
• (MS-63) Mint State Acceptable – Uncirculated, but with contact scratches and nicks, little reduced shine, but otherwise appealing appearance. The strike is weak to average.
• (MS-65) Mint State Choice – Uncirculated with great mint shine, little contact blemishes, and exceptional eye appeal. The strike is unusually severe.
• (MS-68) Mint State Premium Quality – Uncirculated with superb luster, no obvious contact marks to the naked eye, and exceptional eye appeal. The strike is quick and appealing.
• (MS-69) Almost Perfect Mint State – Uncirculated with perfect brilliance, a sharp and appealing strike, and extremely good eye appeal. A near-perfect coin with minor imperfections in the planchet, strike, and contact markings (seen only under 8x magnification).
• (MS-70) Mint State Perfect – Under 8x magnification, no tiny imperfections are discernible; the strike is crisp, and the coin is perfectly centered on a beautiful planchet. Rarely seen on a coin, this coin is bright and whole, with original luster and exceptional eye appeal.

Where To Buy Or Sell 1962 Roosevelt Dime?

There are different places to buy or sell the 1962 Roosevelt Dime. You can go to coin shops, antique stores, and auction houses. Usually, auctions can bring a lot of rare coins. You can also sell your 1962 Roosevelt dime through auctions, which can potentially help you gain a lot of profit.

Aside from the aforementioned places, you can also go online. Some of the most popular websites where you can buy and sell 1962 Roosevelt dimes are Amazon, eBay, Etsy, Facebook Marketplace, USA Coin Book, Coin Appraiser, and Grey Sheets.

Be sure to only transact with vendors who are reputable and trusted.

FAQs

Does a 1962 dime have silver in it?

The 1962 dime has silver. Specifically, the 1962 dime is made of 90% silver and 10% copper. The actual silver weight of the 1962 dime is 0.0723 oz.

How much is a 1962 P dime worth?

The 1962 P dime has a face value of 10 cents. Its melt value is higher which is around $1.57. Circulated 1962 P dime can be around $1 to $3. However, 1962 P dimes are more valuable. For example, a 1962 P Roosevelt Dime was sold for $2,233 in August 2017.

Where is the mint mark on a 1962 dime?

You can find the mint mark on a 1962 dime’s reverse side. It’s at the left side of the base of the Liberty Torch. The mint mark you’ll find is D.