1987-S Roosevelt Dime Proof : A Collector’s Guide

By Charles Morgan and Hubert Walker for CoinWeek Notes …..

In celebration of the San Francisco Mint’s 50th anniversary, an unprecedented 2,263 visitors were allowed to tour the building under heavy guard. The visitors were made to leave their belts, shoes, jewelry, and pocket change with security. All the while, the facility was extremely busy. For in 1987, San Francisco was responsible not only for striking the entirety of the American Silver Eagle issuance but also for the largest issuance of Proof Roosevelt Dimes to date.

While producing these Proof coins, the United States Mint reported that it used up to 10,000 towels every day to clean and polish them!

These coins were only available for purchase as part of special sets and were not intended for circulation. The Mint struck 3,792,233 Proof Roosevelt Dimes for their standard Proof Sets and a further 435,495 for the relatively new Prestige Sets. The standard Proof Sets consisted of five pieces (the Lincoln Cent, the Jefferson Nickel, the Roosevelt Dime, the Washington Quarter, and the Kennedy Half Dollar) sealed in a plastic case and priced at $11 ($28.69 adjusted for inflation). These sets were almost entirely Deep Cameo/Ultra Cameo. In addition to those coins, the Prestige Sets — packaged in a more innovative display booklet — also contained the 1987 Constitution Bicentennial Commemorative Silver Dollar. Prestige Sets were sold by the Mint for $45 ($117.36 adjusted for inflation).

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Expansion of Graded Populations and Impact on Value for Proof 70 1987-S Dimes (2003–2025)

The 1987-S Roosevelt Dime is a modern proof coin from the U.S. Mint’s annual Proof Set, struck with a proof finish featuring mirrored fields and frosted devices. As a cupronickel-clad coin with no precious metal content, its value relies heavily on condition, certification, and collector demand rather than intrinsic metal worth. With a mintage of 4,227,728 pieces (including both regular and Prestige Proof Sets), it is the most common Proof Roosevelt Dime, ensuring a plentiful supply of raw examples.

Despite the growing popularity of modern coin collecting from 2003 to 2025, the expansion of certified top-grade populations (Proof 70 Deep Cameo/Ultra Cameo) has significantly impacted market values. This report explains population growth from grading services like PCGS and NGC and its effect on prices, incorporating certification costs and broader market dynamics.

Population Expansion Over Time

Graded populations track the number of coins certified in Proof 70 condition (PR70DCAM for PCGS or PF70UCAM for NGC). These have surged from 2003 to 2025 due to increased submissions, driven by abundant supply and evolving collector trends.

• Early Years (2003–2007): Populations were minimal as grading modern proofs was less common. PCGS reported 10 PR70DCAM in 2003, rising to 33 by 2005. NGC had 54 PF70UCAM in 2006, edging up to 55 in 2007, reflecting limited initial interest.
• Mid Years (2010): Growth accelerated, with PCGS reaching 93 by 2010, as more collectors submitted coins for certification.
• Recent Years (2025): Explosive increases followed, with PCGS at 1,674 and NGC at 520 as of August 29, 2025 (up from 1,623 and 444 in February 2025). This combined total exceeds 2,190, marking a rise of over 160-fold for PCGS since 2003 and nearly a 10-fold increase for NGC since 2006.

Key drivers of this expansion:

• Abundant Raw Supply: The high mintage of 4,227,728 ensures easy access to Proof Sets, which are often available at an affordable price on secondary markets.
• The Rising Popularity of Modern Coin Collecting: Numismatics has experienced significant growth since 2003, driven by online platforms, perceived investment appeal, low entry costs, and increased participation. However, this hasn’t offset supply growth for top grades.
• Certification Dynamics: Grading fees (~$20 per coin, lower in bulk) create a disincentive for casual submissions but encourage dealers and enthusiasts to grade in volume, especially as premiums for certified coins persist in high grades.

Overall, graded populations (across all grades) are still relatively small: PCGS has certified around 9,000 pieces in total, and NGC has certified over 1,000, underscoring that most coins remain ungraded due to cost-versus-value considerations.

Impact on Market Value

Increased populations have commoditized Proof 70 examples, slashing values through oversupply despite no shortage of raw coins. As with most common modern issues, premiums are low except in the highest grades, and certification often costs more than the coin’s worth below Proof 70.

• Early High Values (2003–2010): Scarcity drove prices, with sales averaging over $200 (inflation-adjusted to 2025 dollars) from 2004 to 2010. Pedigreed examples fetched up to $1,796 adjusted.
• Declining Values (2011–2018): As populations grew, prices fell to approximately $50 by 2012, then to $15 by 2015, and to $5 by 2018, reflecting market saturation.
• Current Low Values (2025): As of August 2025, Proof 70 DCAM/UCAM examples sell for $10–$20, with outliers ranging from $3 to $35. This ~90–95% drop from early peaks highlights supply outpacing demand.

For lower grades:

• Proof 69/68 DCAM/UCAM: $4–$10 (outliers $3–$40), down from ~$20 twenty years ago (e.g., a $70 outlier in 2004).
• Proof 67 and below: Rare auction records (e.g., toned PR67 DCAM at $34 and PR65 CAM at $74 in 2018); most trade privately for minimal value.
• Impaired Proofs: Up to $1, but negligible without certification due to no bullion value.
  Sales typically occur on eBay or at coin shows, with rare instances at major auctions, underscoring their negligible value status.

Market Summary

From 2003 to 2025, the combined graded Proof 70 populations for the 1987-S Dime ballooned from under 100 to over 2,190, transforming it from a scarce premium item to an abundant collectible. While the popularity of modern coin collecting has risen, certification costs and massive supply growth have overwhelmed demand, causing values to plummet by 90–95%. For collectors, this means affordable access, but limited investment upside, unless they focus on outliers like toned or pedigreed pieces. Rarity here is grading-driven, not mintage-based, illustrating the modern nature of numismatics, which is supply-sensitive.

Top Population: PCGS PR70DCAM (1,623, 2/2025), NGC PF70UCAM (520, 8/2025), and CAC PR69DCAM (14, 8/2025).

• PCGS PR70DCDAM: eBay, August 28, 2025 – $11.49. 4 bids.
• PCGS PR70DCAM: eBay, August 28, 2025 – $20. Buy It Now.
• PCGS PR70DCAM: eBay, August 16, 2025 – $17.65. 9 bids.
• PCGS PR70DCAM: eBay, August 14, 2025 – $9.51. 3 bids.
• NGC PF70UCAM: eBay, July 16, 2025 – $10.57. 8 bids.
• NGC PF70UCAM: eBay, July 11, 2025 – $7.50. 6 bids.
• PCGS PR70DCAM #15458573: Heritage Auctions, November 21, 2010 – $126.50; Heritage Auctions, October 30, 2011 – $44.
• PCGS PR70DCAM #15518174: Heritage Auctions, August 30, 2011 – $56.
• PCGS PR70DCAM #73877180: Heritage Auctions, April 27, 2008 – $287.50.
• PCGS PR70DCAM #7705294: Heritage Auctions, August 21, 2007 – $149.50.
• PCGS PR70DCAM #72714260: Heritage Auctions, June 4, 2007 – $149.50.
• NGC PF70UCAM #1540989-033: Heritage Auctions, February 6, 2007 – $35.
• NGC PF70UCAM #1540989-012: Heritage Auctions, January 30, 2007 – $23.
• NGC PF70UCAM #1540989-036: Heritage Auctions, January 28, 2007 – $44.
• NGC PF70UCAM #1540989-008: Heritage Auctions, January 23, 2007 – $31.
• NGC PF70UCAM #1540989-025: Heritage Auctions, January 21, 2007 – $25.
• NGC PF70UCAM #1540989-028: Heritage Auctions, October 3, 2006 – $23.
• PCGS PR70DCAM #72619540: Heritage Auctions, May 1, 2006 – $109.25.
• PCGS PR70DCAM #7705297: Heritage Auctions, March 27, 2005 – $161.
• PCGS PR70DCAM #7705294: Heritage Auctions, February 28, 2005 – $287.50.
• PCGS PR70DCAM #7705269: Heritage Auctions, July 20, 2004 – $230.
• PCGS PR70DCAM #72140369: Heritage Auctions, July 20, 2004 – $207.
• PCGS PR70DCAM #07705299: “The Stephen and Dianne Stokely Collection,” Heritage Auctions, May 2, 2003 – $1,020. “Stokely Collection” on label; “The Eric Kreuter Collection of Proof Roosevelt Dimes,” Heritage Auctions, May 6, 2004 – $276. “Eric Kreuter Collection” on label.

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Design

Obverse:

Most of the obverse design consists of a pensive, 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 motto 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 the designer’s initials right is the date 1987. Unlike dimes struck before 1967 with the mintmark on the lower reverse to the left of the torch, the S mintmark is on the obverse above the date.

Reverse:

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 motto E PLURIBUS UNUM. Since the words are divided “E PLU / RIB / US U / NUM”, there are centering dots between each word. This central design is surrounded by the legend UNITED STATES OF AMERICA at the top and the slightly larger denomination ONE DIME at the bottom.

Edge:

The edge of the 1987-S Roosevelt Dime is reeded with 118 reeds.

Designer

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 dying 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 U.S. Army’s modern Purple Heart medal for Military Merit by soldiers wounded in combat.

1987-S Roosevelt Dime Coin Specifications

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