One of the most profound Presidents of the United States was that of Franklin D. Roosevelt, or FDR. As the 32nd individual to take the position, Roosevelt was said to have helped the American people regain hope and faith during the most troubling of times. Elected in November of 1932 and sworn in a few months later in 1933, Roosevelt was the leader during the most intense times of the Great Depression. He served as President from 1933 until 1945 when he passed away from ongoing health issues in April of 1945.
Shortly after Roosevelt’s death, his profile was authorized to be on the ten-cent piece, or the dime. Minted from 1946 to the current year, Roosevelt’s high involvement with the March of Dimes organization was the biggest reason for the call to change the Mercury dime design. Ultimately, the dime design would be changed without the need for Congress to be involved at all.
As we near the Roosevelt dime’s 75th Anniversary in 2021, we are forced to think back on all the years and varieties to which the dime itself has been subject to. One specifically? Well, according to Whitman Publishing’s fourth edition of the top 100 United States modern coins, a certain Roosevelt dime year and/or variety makes their list. With authors Scott Schecter and Jeff Garrett behind the wheel with help from some of the most influential coin dealers in the country, we take a closer look at not only this top 100 coin, but a top 10 coin in this edition of our continuing blog series.
#8 - 1968, No S, Roosevelt Dime, Proof
In the mid to late 1960s, the United States was facing a coinage shortage around the nation. The United States Mint likened it to collectors hoarding coins due to the mintmarks on the coins as they shifted from circulating silver to copper-nickel-clad in the coins that occurred between 1965 and 1967. The Mint thought that the removal of mintmarks would give the general public less of a reason to hoard the coins. Simultaneously, there were no Proof or Mint sets released in those years except for the release of the Special Mint Sets that carried prooflike characteristics.
In 1968, mintmarks were eventually included back on coins and the minting of Proof coins returned to the fold. From the beginning of the first issued coins until 1964, all presentation issue coins that were for collectors were produced at the Philadelphia Mint. Although, when the single release of the 1965, 1966, and 1967 SMS Sets was produced, they were minted at San Francisco instead of Philadelphia. While this is deemed significant, those sets were produced during the time in which mintmarks were not included on the coins, not giving collectors any indication of the specialty of the coins. When Proof coins were once again produced, production continued at San Francisco and for the first time, they were seen with the “S” mintmark.
However, in the midst of the first time a Proof coin bored the “S” mintmark, something happened that resulted in the obverse of the Roosevelt dime being struck without it. Most say that this could have been an easy mistake as all the dies are made in Philadelphia and then shipped to the subsequent branch mints. Considering 1968 was the first year for the Proof coins to have mintmarks, it is the most likely of years where an error could have occurred. According to the authors of the 100 Greatest United States Modern Coins, the irony of the 1968 Proof Roosevelt Dime not having a mintmark is grand as the mintmark is the very thing that distinguishes it from all previous Proof coinage.
Errors when it comes to Proof coinage is rare overall. Proof coinage that is missing mintmarks is especially so. The 1968, No S, Roosevelt Dime is among the most of those missing the “S”. Almost all of them were caught and pulled from being released, but a few escaped that fate. Estimates conclude that less than two dozen are in the hands of collectors.
NGC’s census reports that only one has ever been graded in a PF69 condition. While that coin was purchased at auction in 2012 for $28,200, NGC’s price guide values the coin at $40,000. Only three have been certified in a PF68 and two in one grade less (PF67). PCGS has graded a total of 11 in PF68.