1967 Roosevelt Dime: Why Gem Coins Are Scarce

A 1967 Roosevelt dime is about as far from a conventional rarity as a U.S. coin can get. More than 2.244 billion were struck for circulation, and PCGS says examples remain easy to locate through about MS66. Yet the same grading service describes MS68 coins as scarce and says pieces displaying Full Bands detail are very scarce in any grade.

That strange combination is what makes the coin worth another look. Numismatic News recently highlighted the 1967 dime as a classic example of a coin produced in enormous quantity but not necessarily preserved in equally enormous numbers at exceptional quality. The article argues that collectors largely ignored these dimes when they were new because mintages had exploded, mint marks had disappeared and enthusiasm for contemporary circulation issues had fallen sharply.

The result is a useful lesson for modern collectors. A huge mintage can make the date common without making every level of condition common. When billions of coins are struck quickly for circulation and few collectors bother saving pristine rolls, genuinely superior survivors can become much harder to locate than the headline mintage suggests.

TL;DR

Record production: The 1967 Roosevelt dime had a mintage of 2,244,007,320, making ordinary examples extremely common.
Condition changes the story: PCGS says coins through roughly MS66 are generally easy to locate, while MS68 examples become scarce.
Full Bands matter: Any 1967 circulation strike showing Full Bands detail is described by PCGS as very scarce.
No mint mark is normal: The absence of a mint mark on a regular 1967 dime is part of the issue’s normal production history, not an automatic error.
Special Mint Sets differ: The 1967 SMS dime belongs to a separate special-strike category with a reported mintage of 1.86 million.
High grade needs context: A common-date dime can become interesting when strike, surfaces and preservation move far beyond what most surviving pieces offer.
My practical rule: Do not save every 1967 dime. Save the pieces that show unusually strong surfaces, sharp reverse bands or Special Mint Set characteristics.

The 1967 Dime Came From a Strange Period for U.S. Coin Collectors

To understand why so few collectors cared about pristine 1967 dimes at the time, you have to look at what had happened to U.S. coin collecting only a few years earlier. Numismatic News describes the early 1960s as a strong period for the hobby before the national coin shortage, rising silver prices and widespread hoarding changed the atmosphere around circulating coinage.

Collectors were caught in the middle of a much larger monetary transition. Silver disappeared from the dime and quarter beginning in 1965, the half dollar moved to a reduced-silver composition and conventional annual proof sets temporarily gave way to Special Mint Sets. The new clad coinage looked radically different from the silver coins that had circulated only a short time earlier.

Huge mintages discouraged people from saving new dimes

The production numbers did not help collector enthusiasm. Numismatic News points out that the 1965 Roosevelt dime had already crossed 1.6 billion pieces, a staggering jump from earlier annual totals. By 1967, the mintage reached 2,244,007,320.

A collector seeing numbers that large had little reason to imagine a normal 1967 dime becoming difficult to find. If more than two billion existed, saving rolls could look pointless compared with pursuing older silver coins or established key dates.

That logic was mostly correct for ordinary examples. PCGS still says circulated coins and Mint State pieces through about MS66 are readily available. The surprise appears only when you start demanding unusually clean surfaces, stronger strikes and top-end preservation.

The clad composition changed the collecting environment

The 1967 circulation dime weighs 2.27 grams and uses a copper-nickel clad composition rather than the silver alloy used through 1964. PCGS lists the metal as 75% copper and 25% nickel over a pure copper center.

That matters because the 1967 dime was part of a completely different collecting environment from the silver Roosevelt dimes that came before it. Collectors were not looking at a continuation of the old series under identical conditions. They were looking at a new metal, extraordinary production volume and fewer traditional collecting signals.

My guide to coins worth money is useful here because it explains why mintage is only one part of the value equation. A coin can be common by date while still becoming challenging at a particular grade or strike quality.

Record Mintage Does Not Mean Record Quality

The central idea behind this coin is simple: producing billions of dimes solves a supply problem, but it does not guarantee billions of beautifully preserved coins.

Coins intended for circulation are produced to function as money. They are struck, handled in bulk, moved through Mint equipment, packed into bags or containers and eventually distributed through the banking system. Contact with other coins can begin before a piece ever reaches someone’s pocket.

PCGS draws the line around the highest Mint State grades

PCGS describes the 1967 Roosevelt dime as easy to find through circulated grades and about MS66. It says MS67 examples remain reasonably accessible, while MS68 pieces are scarce with relatively few known.

That gives us a better way to understand the issue than simply saying “1967 dimes are rare in high grade.”

Condition Level	General Collector Picture	What Changes
Circulated	Extremely easy to find	Wear dominates the surfaces
MS60-MS66	Generally available	Uncirculated, but contact marks and strike quality vary
MS67	Still attainable	Cleaner surfaces and better overall eye appeal become important
MS68	Scarce	Very few marks and stronger preservation are required
Full Bands	Very scarce	Reverse torch-band detail becomes a separate strike challenge

The exact market can move, but the grading pattern is the important part. The condition bottleneck arrives far above the grades most collectors will encounter in random circulation pieces.

A huge mintage can actually work against surface quality

High-volume production can create more opportunities for contact marks and inconsistent strikes. That does not mean every 1967 dime was poorly made, but it helps explain why a surviving coin with unusually clean surfaces can stand apart from billions of technically identical pieces.

This is also why raw mintage numbers should never be treated as a complete rarity measure. Mintage tells you how many were struck. It does not tell you how many survived without wear, how many avoided heavy marks or how many show the sharpest possible design detail.

Full Bands Is Where the Search Gets More Serious

The reverse of a Roosevelt dime carries a central torch with horizontal bands. On better-struck examples, those bands show strong separation and detail. Grading services use strike designations such as Full Bands to identify coins that meet specific requirements in this area.

For 1967, this is a much more demanding target than simply finding an uncirculated dime.

PCGS calls Full Bands examples very scarce

PCGS states that any 1967 circulation-strike dime displaying Full Bands details is very scarce. That immediately separates two different collecting questions:

Finding a 1967 dime: Easy because billions were struck.
Finding an exceptional 1967 dime: Much harder when the search requires superior strike and preservation.

The key is not to confuse strong-looking torch detail with an automatic Full Bands designation. Grading companies apply specific standards, and small interruptions, weakness or contact in the relevant bands can prevent a coin from qualifying.

Strike and grade are related but not identical

A coin can have relatively clean surfaces but weaker central details. Another may show a strong strike but enough marks to hold down the numerical grade. That means collectors pursuing the best 1967 Roosevelt dimes need to look at both dimensions.

A simple inspection order helps:

Surface preservation: Check Roosevelt’s portrait, the open fields and reverse for distracting marks.
Torch bands: Examine the central horizontal bands for complete, uninterrupted definition.
Luster: Look for strong original Mint luster rather than dull or altered surfaces.
Rim quality: Check for hits or damage that affect overall eye appeal.
Color and spotting: Haze, stains or environmental damage can matter even on otherwise sharp coins.

My guide to the best coin grading companies is useful when the difference between an ordinary Mint State dime and an exceptional strike begins to matter financially.

The Missing Mint Mark Is Not the Error to Chase

One feature regularly causes confusion with mid-1960s coins: the missing mint mark.

A normal 1967 circulation dime has no mint mark, so the absence of one is not by itself evidence of an error. PCGS lists the regular issue under Philadelphia and reports the full 2.244-billion-piece mintage under that issue.

The no-mint-mark period was part of the era

The source article explains that mint marks were removed during this period as part of emergency steps intended to discourage collecting and hoarding. That means collectors should not approach a 1967 dime using the same expectations they might apply to later dates with ordinary P, D or S mint distinctions.

The practical lesson is important because marketplace listings sometimes make ordinary features sound rare. A seller can describe a coin as a “1967 NO MINT MARK dime,” but that wording alone does not identify a special variety.

Real varieties require specific diagnostics

PCGS lists a recognized doubled-die obverse variety for the 1967 circulation strike in addition to the standard issue and Full Bands category. That is the kind of distinction collectors should research: a recognized die variety with repeatable diagnostic characteristics, not simply a normal feature presented as unusual.

My guide to what an error coin is can help separate genuine Mint-made abnormalities from ordinary design characteristics, circulation damage and misleading seller descriptions.

Special Mint Set Dimes Belong in a Separate Conversation

The 1967 Special Mint Set dime deserves its own category because it was not simply another random circulation coin.

PCGS lists the 1967 SMS dime as a special strike with a mintage of 1,860,000. It uses the same basic 2.27-gram clad composition as the circulation issue, but Special Mint Set pieces were produced and distributed specifically for collectors rather than entering the market through normal circulation channels.

SMS quality can vary substantially

Collectors sometimes hear “Special Mint Set” and assume every piece should look like a modern proof. That is not the right expectation.

Within 1967 SMS dimes, PCGS recognizes standard special strikes as well as Cameo and Deep Cameo examples. The Deep Cameo category is particularly interesting because stronger contrast between the devices and fields can create a dramatically different visual appearance.

PCGS records a 1967 SMS Deep Cameo dime auction result of $9,988 for an SP68 example sold by Heritage in 2014. That isolated result should not be treated as the value of an average SMS dime, but it demonstrates how far the market can separate exceptional special-strike quality from ordinary examples.

Do not compare an SMS dime directly with a circulation strike

The two versions come from different production contexts and should be evaluated separately.

Feature	1967 Circulation Strike	1967 Special Mint Set Dime
Reported mintage	2,244,007,320	1,860,000
Intended distribution	General circulation	Collector sets
PCGS category	Regular Strike	Special Strike
Main quality targets	High Mint State, Full Bands	High SP grade, Cameo, Deep Cameo
Typical source today	Change, rolls, collections	Original or broken-up SMS sets

If you find a 1967 dime in an old Mint set, keep its original context in mind before pulling it out and treating it like a circulation piece.

What a 1967 Dime Is Actually Worth Depends on Which One You Have

The word “value” gets messy quickly with this issue because most examples are ordinary while the top end of the market depends on quality.

NGC’s current Coin Explorer describes circulated 1967 Roosevelt dimes as low-value coins, while PCGS likewise emphasizes how easy the issue is to obtain in most conditions. That makes the basic coin a poor candidate for sensational “rare dime” claims.

Ordinary circulated pieces are not the story

A worn 1967 dime has no precious-metal premium because it is clad rather than silver. It also has no scarcity advantage because billions were struck.

The interesting categories are instead:

Exceptionally preserved business strikes
Strongly struck Full Bands examples
Recognized die varieties
Premium-quality SMS pieces
Cameo or Deep Cameo SMS coins

That is why two coins sharing the same year can belong to completely different markets.

Certification only makes sense when the coin justifies it

Grading a common circulated 1967 dime would usually make little economic sense. The calculation changes when a coin appears capable of an unusually high grade, shows Full Bands characteristics or belongs to an exceptional SMS category.

Before paying grading fees, I would compare the coin with certified images and recent sales at the exact grade or designation being considered. My guide to valuing old coins provides a more useful framework than starting with an isolated asking price.

How I Would Search Rolls or Old Collections for a Better 1967 Dime

The 1967 Roosevelt dime is not a coin I would search by simply pulling every example and hoping age creates value. I would search specifically for quality.

First pass: eliminate ordinary circulated coins

Any piece with obvious wear is unlikely to be the condition-rarity story discussed here. Set aside coins that still show complete Mint luster and minimal signs of circulation.

Second pass: compare surfaces

Once you have uncirculated candidates, compare them side by side. Look for which coins have the fewest marks on Roosevelt’s portrait, the fields and the reverse.

The following details deserve particular attention:

Cheek and portrait: Large marks on Roosevelt can limit eye appeal quickly.
Open fields: Clean areas around the portrait can separate better survivors.
Torch detail: Strong central bands deserve closer magnified inspection.
Original luster: Dull or disturbed surfaces are less promising.
Edge integrity: Significant rim hits can undermine an otherwise strong coin.

Third pass: inspect the reverse strike

This is where the Full Bands possibility comes into play. Use magnification and compare the central bands with images of certified examples rather than guessing from one coin in isolation.

A sharply struck reverse combined with strong surfaces is far more interesting than an ordinary bright 1967 dime.

Fourth pass: keep SMS material separate

If you are searching an old collection that contains 1965-1967 Special Mint Sets, do not mix those coins immediately with loose circulation pieces. Original packaging can help preserve context, and Cameo or Deep Cameo characteristics should be evaluated under the correct special-strike standards.

The Bigger Lesson Is About Condition Rarity

The 1967 Roosevelt dime is useful because it challenges a common collecting shortcut: low mintage equals rare, high mintage equals worthless.

That rule fails once condition enters the market.

Mintage measures production, not surviving perfection

The Mint made more than 2.2 billion 1967 dimes, but the number tells us nothing about how many avoided contact marks, received an unusually sharp strike or survived nearly six decades with exceptional surfaces.

That gap creates condition rarity.

A coin does not need to be rare in every grade to become challenging at the very top.

Collector behavior also shapes future availability

Numismatic News makes another important point: collectors were not especially motivated to save 1967 dimes when they were new because the mintage looked overwhelming.

If more people had saved original rolls specifically looking for exceptional pieces, today’s high-grade supply might look different. Instead, much of the production fulfilled its intended purpose and entered circulation.

That creates an interesting paradox. The very feature that made the coin seem uncollectible at the time, its enormous mintage, may have contributed to fewer people deliberately preserving spectacular examples.

My Takeaway: Do Not Hunt 1967 Dimes for Rarity, Hunt Them for Quality

The 1967 Roosevelt dime is not a hidden key date. With more than 2.244 billion circulation strikes produced, ordinary examples are exactly what you would expect them to be: extremely common.

The better collecting angle begins once you stop asking, “How many were made?” and start asking, “How many look this good?”

PCGS says MS68 circulation strikes are scarce and Full Bands examples are very scarce. Special Mint Set pieces create another lane where high grade, Cameo contrast and Deep Cameo quality can produce much stronger collector interest.

That makes the 1967 dime an excellent teaching coin. You can have billions of examples and still create scarcity at a specific level of quality.

If you find one in change, there is no reason to get excited simply because it lacks a mint mark. If you find an exceptionally clean, sharply struck example in an old roll or collection, however, slow down and inspect it carefully.

The date is common. The right coin may not be.

Frequently Asked Questions About the 1967 Roosevelt Dime

Is a 1967 Roosevelt dime rare?

No, ordinary examples are extremely common. PCGS reports a mintage of 2,244,007,320 and says examples remain easy to locate through most circulated and lower Mint State grades. The issue becomes more difficult at MS68 and with Full Bands detail.

Is a 1967 dime with no mint mark valuable?

The missing mint mark alone does not make a 1967 dime rare because normal circulation strikes from this period were produced without mint marks. Value depends instead on condition, recognized varieties, strike quality and whether the coin is a Special Mint Set piece.

What does Full Bands mean on a 1967 Roosevelt dime?

Full Bands refers to strong separation in the horizontal bands of the torch on the reverse. PCGS describes any 1967 circulation-strike dime with qualifying Full Bands detail as very scarce.

What is a 1967 Special Mint Set dime?

The 1967 SMS dime is a special-strike collector issue produced during the years when normal annual proof sets were temporarily suspended. PCGS reports a mintage of 1,860,000 and recognizes standard, Cameo and Deep Cameo versions.

Should I have a 1967 dime professionally graded?

Most ordinary 1967 dimes do not justify grading fees. Certification becomes more worth investigating if the coin appears exceptionally high grade, has strong Full Bands detail, shows a recognized variety or is an unusually attractive Cameo or Deep Cameo SMS piece.