Auction Info
On Sunday, January 23, bidding ends on GreatCollections.com in the auction of a 1972 Roosevelt dime graded PCGS MS66 with Full Bands. A condition census example pedigreed to collector LS Brown, this 1972 dime is an important offering for collectors who are building a PCGS Registry Set of Roosevelt dimes. At the time of publication, bidding has been active, jumping to $167 (USD) with 25 bids and 12 days to go.
Specific Coin info
A cursory look at the 1972 dime’s mintage obscures the true story behind why this GreatCollections offering should interest collectors. With a mintage of 431,540,000, the 1972 Philadelphia Roosevelt Dime is extremely common. From 1970 to 1975, the Philadelphia Mint averaged 462,260,380 coins per year. One should have no problem securing a Mint State example and circulated 1972 dimes still turn up in pocket change.
What makes this example highly unusual is that it has been attributed as “Full Bands”.
PCGS Coinfacts estimates that the survival rate of type in MS 65 and above with full bands is 8,630 out of the issue’s 460+ million mintage. That number seems significantly out of line with the number of coins certified to date. At MS66 FB, this coin is one of only eight in MS66 with only two pieces graded higher: one each in MS67 and MS67+.
In addition, this example is well struck and lightly toned, with above-average eye appeal.
PCGS added the official Full Bands designation to their population report on September 1, 2003, due to popular demand. An announcement in the PCGS Rare Coin Market Report stated that Roosevelt Dimes graded MS60 or higher would be eligible for this new designation.
To be considered a true Full Bands example, each pair of bands across the top and bottom of the torch at the center of the reverse design must be complete. While there can be slight die wear, PCGS requires that the bands must be fully separated, and without any noticeable cuts or marks interrupting the bands. Generally, to qualify for this designation, the coin must be well struck and have sharp details.
While the Full Bands designation is used by PCGS, collectors should note that NGC uses a similar metric called “Full Torch”. A slightly more rigorous designation, Full Torch examples must also have well-defined vertical lines on the torch. If graded by NGC, this example would most likely qualify for both designations.
The discrepancy between the large general mintage of Roosevelt dimes and the survival rate of examples with Full Bands can be attributed to the fact that the dies were either weakly engraved or the coin was weakly struck. Both of which resulted in many examples having mushy reverse details. Interestingly, proof dimes are not given the FB or FT designation, because all proof coins should be well struck with full details.
Collection Info
This handsome coin comes from the Erasmus Hall Collection, which was assembled by the noted New York City physician and medical school professor, Dr. Lawrence S. Brown Jr.
A decorated US Army veteran who fought in the Vietnam War, Dr. Brown has been collecting modern circulating and commemorative US coins since the age of 12. He has assembled some of the most notable registry sets currently posted in the PCGS Set Registry, of which this Roosevelt Dime is part.
Design
Like all current US coins except the Lincoln cent, the Roosevelt Dime’s obverse design is dominated by a left-facing profile of the eponymous president. Located in the northwest quadrant, directly inside of the smooth rim, is the legend LIBERTY. Below the bust’s chin, in smaller letters is the second obverse legend, IN GOD WE TRUST. The date, 1972 is squeezed directly below the neck truncation and to the right of the initials “JS” of John R. Sinnock, the coin’s designer. When this coin was struck, the Philadelphia Mint was not using a mintmark. Eight years later, however, the mint would begin using the “P” mintmark.
Completely encircling the reverse design at the top are the words UNITED STATES OF AMERICA, and on the bottom in slightly larger words is the denomination ONE DIME. The flaming torch, which symbolizes liberty, is showcased as the central feature of this coin’s reverse design. The torch is flanked by an olive branch on the left and an oak branch on the right, which represent peace and victory, respectively. America’s traditional motto E PLURIBUS UNUM is split into four parts (E PLU / RIB / US U / NUM) by the branches and torch. Since the breaks are not between the Latin words, there are centering dots in each word break.
Bidding ends on Sunday, January 23, 2022, 05:26:28 PM Pacific Time (PT).
