The 1994-D Roosevelt Dime PCGS MS66FB is a fascinating example of how a seemingly common modern coin can have significant value to collectors, thanks to a combination of history, specific production characteristics, and grading standards.
The History of the Roosevelt Dime
The Roosevelt dime series began in 1946, shortly after the death of President Franklin D. Roosevelt in 1945. The dime was chosen to honor him not only because he guided the country through the Great Depression and most of World War II, but also due to his strong personal connection to the denomination. Roosevelt, who suffered from polio, helped found the National Foundation for Infantile Paralysis, which was later renamed the March of Dimes. The organization’s name came from a fundraising campaign that encouraged people to send a dime to the White House to support polio research. The Roosevelt dime replaced the beloved “Mercury” dime, which had been in production since 1916.
The Roosevelt dime was designed by Chief Engraver John R. Sinnock. The reverse design features a torch symbolizing liberty, flanked by an olive branch for peace and an oak branch for strength and independence. From 1946 to 1964, the coins were struck in 90% silver. However, due to rising silver prices, the Coinage Act of 1965 changed the composition of dimes (as well as quarters and half-dollars) to a copper-nickel clad composition, which is what is used today.
The Significance of a 1994-D Dime
The 1994-D Roosevelt Dime was minted at the Denver Mint. The “D” mint mark is located on the obverse, below the date. In 1994, the U.S. Mint produced a massive number of dimes, with the Denver Mint alone striking over 1.3 billion coins. This high mintage means that circulated examples and even most uncirculated coins are very common and hold little premium over their face value.
However, the specific grade of “PCGS MS66FB” is what elevates this particular coin’s value.
Understanding the “PCGS MS66FB” Grade
- PCGS (Professional Coin Grading Service): This is one of the most respected third-party grading services in the world. Collectors trust their grading and authentication process.
- MS66: “MS” stands for “Mint State,” indicating the coin was never in circulation. The numerical grade of 66 on the Sheldon Scale means the coin is a high-quality uncirculated specimen with a sharp strike and good luster. It may have a few minor nicks or scratches, but they are not in prominent locations.
- FB (Full Bands): This is a key designation for Roosevelt Dimes. It refers to the details of the horizontal bands on the torch on the reverse of the coin. A coin with the “FB” designation has a strong, complete strike, with all the horizontal bands on the torch clearly separated and defined. Many Roosevelt dimes, especially from the clad era, have a weak strike that makes these bands appear mushy or incomplete. The presence of “Full Bands” is a mark of exceptional quality and is highly sought after by collectors, making the coin a “conditional rarity.” PCGS began attributing this designation in 2003, citing demand from collectors.
The combination of a high grade (MS66) and the “Full Bands” designation means that this coin, while from a high-mintage year, is a rare find in such pristine condition and with such a strong strike. This is why it commands a premium over its more common counterparts.
The value of a 1994-D Roosevelt Dime in PCGS MS66FB condition can be quite a bit more than its face value, as this is considered a conditional rarity. Its value is determined by a few key factors:
- The High Grade (MS66): The “MS66” grade signifies a coin with a strong strike and excellent preservation, placing it in the top tier of coins from this year.
- The “Full Bands” (FB) Designation: As we’ve discussed, the “FB” designation is crucial. It confirms the coin’s superior strike quality, which is often lacking on Roosevelt dimes from this era. This is a primary driver of the premium value.
- Market Demand and Condition: The final value is influenced by the current market. While the PCGS Price Guide and other resources provide an estimated value, actual sales on auction sites like eBay or through major auction houses can vary.
Recent Sales and Estimated Value
Based on recent market data, a 1994-D Roosevelt Dime in PCGS MS66FB condition can sell for a range of prices. Prices can fluctuate, but here is a general idea of what to expect:
- Retail/Price Guide Value: Price guides like PCGS’s own and others often list a value that reflects what you might pay from a dealer. This value can be in the range of $60 to $80, or even a bit higher depending on the specific coin’s eye appeal (e.g., toning, luster).
- Auction Prices: Looking at recent auction results, you can find sales in a similar price range. For example, some have sold for around $60 to $82, with some examples in the past selling for even higher.1
- Higher Grades: It’s worth noting that coins with a slightly higher grade, such as MS67FB, can command a much higher price, with some auction records exceeding $150 or even more, showing how a single point in the grade can make a significant difference.
That’s an excellent point and a critical detail for a coin like this. When we add that specific PCGS population data, the story of the 1994-D Roosevelt Dime in MS66FB condition becomes even more compelling.
The True Rarity Revealed by Population Data
The PCGS Population Report for the 1994-D Roosevelt Dime with the “Full Bands” designation paints a very clear picture:
- PCGS MS66FB: Population of just 28. This is an astonishingly low number given the mintage of over 1.3 billion coins. This means that for every million 1994-D dimes produced, fewer than one has been certified by PCGS in this specific, high-quality grade with the Full Bands.
- PCGS MS67FB: The population is even lower at just 11. This highlights the extreme difficulty of finding a coin that is not only a “Full Bands” example but also nearly flawless.
- PCGS MS68FB: The single coin in this grade is the ultimate pinnacle of rarity for this date and type. It is a “one-of-a-kind” specimen that commands the highest premium, as evidenced by its auction record of $1,680.
What This Means for Value and Collecting
Your observation about the population data is the single most important factor in understanding the value of this coin.
- Conditional Rarity, Amplified: The term “conditional rarity” is an understatement here. We’re not just talking about a coin that is difficult to find; we’re talking about a coin that is practically non-existent in its top grades relative to its massive production. The low population of MS66FB coins makes it a very difficult coin to acquire for set builders.
- The “FB” Designation is Everything: While other surrounding coins might have populations approaching a thousand in MS66, those numbers are for coins without the “Full Bands” designation. This is the key differentiator. The weak strike on most Roosevelt Dimes means a non-FB MS66 coin is far less valuable and not nearly as rare. The “FB” is what collectors are paying for.
- The Price Premium is Justified: The low population data directly explains the price premium. A common MS66 1994-D dime might be worth only a few dollars. However, the MS66FB, with its tiny population of 28, is a highly sought-after item that can sell for $60-$80, and even more for a coin with exceptional eye appeal. The difference is not just a numerical grade; it’s a difference in rarity of hundreds or thousands of times.
- A “Top Pop” Coin: A collector who owns a 1994-D MS67FB is in an elite group of only 11 people. The owner of the MS68FB coin holds a unique piece of numismatic history. This sense of exclusivity and the challenge of finding such a coin drives the value for serious collectors and investors.
In conclusion, your specific population data points are not just an add-on—they are the heart of the story for the 1994-D Roosevelt Dime MS66FB. They prove that a coin can be incredibly rare and valuable, not because of its mintage number, but because of how few have survived in a state of absolute perfection.
