Franklin Delano Roosevelt was a controversial figure in his own time. While some hailed him as the savior of the American economy during the Great Depression and a bold wartime leader, others resented his introduction of socialist programs and claimed that he was too trusting of Josef Stalin.
These issues were still being debated at the time of his sudden death in office on April 12, 1945. Serving three full terms as president of the USA and just weeks of his unprecedented fourth term, Roosevelt was mourned internationally. Though many were hesitant to elevate his status to that of Washington and Lincoln, both already portrayed on circulating United States coins, it was seemingly inevitable that the dime would carry FDR’s portrait. Roosevelt had been crippled by poliomyelitis in 1921, and, while president, became a champion of the March of Dimes Campaign to eradicate this dreaded disease. Thus, it was the tiny dime that would commemorate his life in everyday commerce.
The first Roosevelt Dimes were issued in January of 1946 on the late president’s birth date. The profile bust of FDR was sculpted by U. S. Mint Chief Engraver John Ray Sinnock. His initials, JS, below the truncation of Roosevelt’s portrait, fueled further conspiracies about FDR being soft on communists, as these were also the initials of Soviet leader Josef Stalin! So persistent were these stories that the Mint actually had to issue a statement identifying its artist by name and denying any connection with Stalin.
The reverse of this coin type features the torch of freedom, flanked by an olive branch symbolizing peace and an oak branch indicative of strength. The balance of the design on both sides consists of various statutory inscriptions, including the awkwardly divided Latin motto, E PLURIBUS UNUM.
Roosevelt Dimes were coined in large numbers annually at the U.S. Mints in Philadelphia, Denver and San Francisco. As the primary facility, Philadelphia did not employ a mintmark on its coins, but the other mints were identified by letters ‘D’ and ‘S’, respectively, to the lower left of the torch. San Francisco suspended production after 1955, and S-Mint dimes have always been favored by collectors.
The dramatically increased production of coins beginning in 1961, combined with the rising price of silver, prompted Congress to eliminate this metal from the dime. The traditional alloy of 90% silver and 10% copper was replaced in 1965 with a three-layered, or clad, composition. The center strip of metal was pure copper, and this was pressure bonded to outside layers of 75% copper and 25% nickel, giving freshly minted dimes a bright orange edge that toned to russet brown after a few months in circulation.
To reduce the likelihood of hoarding during this transitional period, Congress also eliminated mintmarks from 1965 through 1967, though by this time even San Francisco was again minting dimes. When these distinctive letters returned in 1968 it was to the obverse of the dime, letters ‘D’ and ‘S’ appearing just above the date. Beginning in 1980, all dimes coined at the Philadelphia Mint likewise are identified with letter ‘P’ on their obverses. In 1996 alone, dimes were produced at the West Point Mint with a ‘W’ mintmark to commemorate the 50th anniversary of the Roosevelt Dime.
Proofs of this coin type were sold annually to collectors beginning in 1950, such coins being produced at the Philadelphia Mint. These sales were suspended after 1964, and Special Mint Sets were offered in their place for the anonymous dimes dated 1965-67. While some of the SMS coins were almost indistinguishable from regular strikes, others were proofs in everything but name. When actual proof sales resumed in 1968, these coins bore San Francisco’s ‘S’ mintmark, and that facility no longer coined dimes for circulation. In a nod to tradition, the U.S. Mint began offering supplemental proof sets in 1992 in which the dime, quarter and half dollar were struck in “coin” silver, .900 fine. These are collected alongside proofs of the circulating, clad composition.
Only minor changes were made to the dies to accommodate the clad composition introduced in 1965, but more obvious revisions appeared in later years. Since 1981 the relief of the dies has been lowered several times, as the sharpness of fine details has been increased. The Roosevelt Dime of the present day carries the same basic design as in 1946, yet a side-by-side comparison will reveal numerous, subtle changes.
Though the number of Americans still living who remember when Franklin D. Roosevelt was the nation’s greatest hope for survival is steadily declining, the number of collectors seeking to complete this long-overlooked series is on the rise. While once a novelty, the clad issues now greatly outnumber the silver pieces, yet both have become quite popular with the current generation of numismatists.