1993 marked one of the last years in the 20th century that the Philadelphia Mint would strike less than one billion dimes. Included in the official mintage of 766,180,000 coins, the United States Mint sold a total of 1,297,431 Uncirculated Mint Sets in 1993.
Despite the mintage figures, the modern Mint’s level of quality control in 1993 was quite high, which means there are few official varieties. In fact, VarietyVista only lists one: ODV – 015: Straight G of God. Additionally, the total population of Full Bands/Full Torch designated examples for 1993 represents a 34% increase over that of 1992 and a 596% increase over the 1991 population.
The Market for the 1993-P Dime
In MS 65, the 1993-P dime is readily available for between $1 and $5. In fact, all grades from MS 65 and below are found easily in circulation. For coins that have been well preserved in high Mint State grades, the value does start to climb, and in MS 66 the 1993-P sells for an average of $12 at auction. Move one grade higher, and this type becomes much less common, with NGC and PCGS together certifying a total population of only 165 pieces.
A straight MS 67 can sell for an average of $17 to $18, but this rarity is slightly misleading. While MS 67s are definitely more uncommon than mid-MS grades, many examples exist that have not been submitted for grading. Specimens graded MS 68, however, are a different story. With only three certified examples known, this grade is a true conditional rarity. The last straight-graded MS 68 to come to auction in 2018 sold for $200.
Pieces designated as Full Bands or Full Torch command a significant premium over straight-graded examples. So, what does it take to get an FB/FT designation? The coin must display a reverse torch that has two distinct pairs of upper and lower horizontal bands. This is not only a factor of circulation condition but also of strike quality. While coins graded as low as MS 60 can receive an FB/FT designation, PCGS records MS 65 as the lowest grade with a FB/FT designation, and NGC reports MS 66.
Full Torch and Full Band examples graded MS 65 or 66 command an average price of $30 to $40, with MS 67 FT/FB examples worth $50. When an MS 68 last came to public auction in 2018, it sold for a record (non-error) price for this grade of $333. Please note that the PCGS CoinFacts auction record price of $2,990 (and a slightly lower priced example which sold for $2,760) are both for a mislabeled $10 gold eagle.
A number of error types have come to market and commanded significant prices. For example, an MS 66 double denomination with a Lincoln cent overstruck on the 1993 dime sold for $556 in 2018. Besides errors, all examples in grades lower than Mint State command no premium over face value. These coins are numismatically useful only to fill out a date or type set.
Most of the obverse design consists of a left-facing bust of the beloved late 32nd President of the United States, Franklin Delano Roosevelt (served 1933-45). In the northwest quadrant, directly in front of Roosevelt’s face, is the standard legend LIBERTY. Below the president’s chin in smaller letters is the moto IN GOD WE TRUST. Directly below the neck truncation on the bust are the designers’ initials (JS). Placed at a slightly higher line than the motto and to designer’s initials right is the date (1993). Unlike earlier dimes struck before 1965 that have the mintmark on the lower reverse to the left of the torch, the “P” mintmark is on the obverse above the date (1993).
Centered in the reverse design is a flaming torch symbolizing liberty. The torch sits between the olive branch of peace on the left and the oak branch of victory on the right. Split into four parts between the branches and torch is the USA’s traditional moto: E PLURIBUS UNUM. Since the words are divided as follows, E PLU / RIB / US U / NUM, there are centering dots between each word. This central design is completely surrounded by the words UNITED STATES OF AMERICA at the top and the slightly larger denomination ONE DIME on the bottom.
The edge of the 1993 P Roosevelt dime is reeded with 118 reeds.
John R. Sinnock became the eighth Chief Engraver of the United States Mint upon George T. Morgan’s death in 1925, holding the position until his own death on May 14, 1947. In addition to being chosen by Mint Director Nellie Ross to design both the new Roosevelt dime and Franklin half dollar in 1946, Sinnock is responsible for engraving the 1926 Sesquicentennial American Independence half dollar and gold $2.50 for the 150th anniversary of the United States of America. Sinnock also helped sculpt the US Army’s modern Purple Heart medal for Military Merit by soldiers wounded in combat.
|Year Of Issue:||1993|
|Mint Mark:||P (Philadelphia)|
|Alloy:||75% Copper, 25% Nickel|
|OBV Designer||John R. Sinnock|
|REV Designer||John R. Sinnock|