1948 Dime Value (2026 Guide): Errors List, “S” , “D” & No Mint Mint Mark Worth

The 1948 Roosevelt Dime is a fascinating 90% silver coin from the early years of a beloved American series. Its value depends on three things: which mint made it, what condition it’s in, and whether it has the prized Full Bands strike quality.

A circulated example typically trades near its silver melt value of around $3–4. But a perfectly preserved Philadelphia specimen with Full Bands sold for $8,050 at auction — showing just how wide the value range can be.

 

1948 Dime Value By Variety

Here’s what your 1948 dime might be worth depending on its condition and where it was minted. If you know the grade of your coin, you can find the exact price below in the Value Guides section.

Also Read: Roosevelt Dime Value (1946-Present)

 

Top 10 Most Valuable 1948 Dime Worth Money

The chart reveals auction records spanning from 2005 to the present day. A 1948 Philadelphia MS68 Full Bands dime leads the list at $8,050, the highest price ever recorded for this date.

A 1948-S MS68 Full Bands specimen achieved $4,465 at Heritage Auctions in April 2016, while a 1948-D MS68 sold for $4,313 at Heritage in November 2005. These results reflect the premium collectors place on coins combining exceptional preservation with sharply struck torch band details.

MS67 and MS68 grades dominate the top ten positions, showing how powerfully condition drives value in the Roosevelt dime series. At the lower end of the top ten, MS67 specimens range from $432 to $1,375 — even one grade below MS68 commands serious collector interest.

Multiple auction entries for the same mint and grade confirm this is not a flash-in-the-pan market. Serious buyers have competed consistently over two decades for the finest examples.

 

History of The 1948 Dime

The Roosevelt dime was introduced in 1946 to honor President Franklin D. Roosevelt, who guided the nation through both the Great Depression and World War II. His personal fight with polio and his founding of the March of Dimes made the ten-cent coin an especially meaningful tribute.

Less than a month after Roosevelt’s death in April 1945, Representative James Hobson Morrison introduced legislation to replace the Mercury dime. The bill quickly passed and was signed by President Harry S. Truman.

Chief Engraver John R. Sinnock was assigned to create the design, though much of the actual execution was carried out by his assistant, Gilroy Roberts — who would later become Chief Engraver himself. Sinnock’s initial concept was rejected in late 1945, but the revised version gained approval the following January.

Sinnock’s original reverse design actually showed a hand grasping a torch, which was scrapped in favor of the cleaner final version. The obverse presents Roosevelt’s portrait, while the reverse features a torch flanked by olive and oak branches — symbols of liberty, peace, and strength.

There was also early controversy over Sinnock’s initials “JS” on the coin. Some people mistakenly claimed they stood for Joseph Stalin during the tense Cold War climate of the late 1940s. The accusation was false, but the controversy lingered.

By 1948, the Roosevelt dime was firmly established in U.S. coinage. The coin was the third year of the series, struck at all three active Mint facilities. No proof coins were produced in 1948 due to cost-cutting measures during postwar economic recovery.

All three mints maintained the traditional 90% silver and 10% copper alloy composition used through 1964. The Coinage Act of 1965 later ended silver use in dimes, transitioning to copper-nickel clad coinage — which is why pre-1965 Roosevelt dimes like the 1948 carry a meaningful silver premium.

Also Read: Top 100 Most Valuable Roosevelt Dimes Worth Money List

 

Is Your 1948 Dime Rare?

Use the CoinValueChecker App to instantly check your 1948 dime’s rarity, grade, and current market value with just a photo.

 

Key Features of The 1948 Dime

The 1948 Roosevelt dime showcases distinctive design elements with inscriptions, denominations, and national mottos that define this iconic American coin.

The Obverse Of The 1948 Dime

Franklin D. Roosevelt’s left-facing portrait dominates the obverse, with “LIBERTY” inscribed along the left side and “IN GOD WE TRUST” positioned below the chin. Designer John R. Sinnock’s initials, JS, appear at the cutoff of Roosevelt’s bust, to the left of the date.

The Reverse Of The 1948 Dime

The reverse displays a torch in the center representing liberty, flanked by an olive sprig on the left symbolizing peace and an oak branch on the right representing strength and independence. “E PLURIBUS UNUM” (out of many, one) curves across the field behind these design elements.

“UNITED STATES OF AMERICA” identifies the issuing nation along the top, while “ONE DIME” specifies the denomination at the bottom.

For coins from Denver and San Francisco, the mint mark (D or S) is positioned on the reverse side at the base of the torch, just above the “E” in “ONE.” Philadelphia coins bear no mint mark.

Other Features Of The 1948 Dime

The coin has a reeded edge, measures 17.9 mm in diameter, weighs 2.50 grams, and has a thickness of 1.35mm. The composition consists of 90% silver and 10% copper, containing 0.0723 troy ounces of pure silver.

At current silver prices, this gives the coin a silver melt value of approximately $3.52, establishing a firm price floor below which problem-free coins should not trade.

Also Read: Top 100 Rarest Dimes Worth Money (Most Expensive)

 

1948 Dime Mintage & Survival Data

The 1948 Roosevelt Dime demonstrates varying mintage levels across three facilities. The Philadelphia facility achieved the highest mintage at 74,950,000 coins, followed by Denver with 52,841,000 pieces, and San Francisco with 35,520,000 pieces.

The combined total production for 1948 exceeded 163 million coins across all three mints. This represents the fourth-lowest total mintage of the entire silver Roosevelt dime era (1946–1964), which adds some collector interest to the date as a whole.

The survival distribution shows that approximately 7,495,000 Philadelphia-mint dimes remain today, alongside 5,284,100 Denver specimens and 3,552,000 San Francisco pieces. All three mint marks maintain an identical 10% survival rate, suggesting uniform circulation and storage patterns across the decades.

That means roughly one in ten original 1948 dimes still exists in some form — making surviving high-grade examples especially meaningful to collectors building complete date sets.

Also Read: Top 70+ Most Valuable Mercury Dimes Worth Money (Chart By Year)

 

The Easy Way to Know Your 1948 Dime Value

To determine your 1948 dime’s value, examine its mint mark (D, or S) and condition, as these two factors directly impact worth. Circulated coins typically hold a base silver value of around $3–4, while well-preserved uncirculated examples can fetch $10–20 or more.

Rather than manually comparing your coin to grading charts and researching current market prices, simply use the CoinValueChecker App to instantly identify your dime’s mint mark, assess its condition through AI-powered image recognition, and receive real-time accurate valuations based on current silver prices and collector demand.

 

1948 Dime Value Guides

The 1948 Roosevelt Dime series comprises three distinct varieties from Philadelphia, Denver, and San Francisco mints, each identifiable by their mint mark location on the reverse near the torch base.

Philadelphia coins carry no mint mark. Denver-minted dimes, marked with “D,” are recognized as the most consistently well-struck variety of the three facilities. San Francisco specimens, identified by the “S” mint mark, are known for bright and frosty luster, though peripheral design elements near the coin’s edge can occasionally show weakness due to die erosion.

All three varieties share a 90% silver composition. Condition and strike quality are the two factors that most directly determine collector value.

1948 Dime Varieties:

• 1948 No Mint Mark Dime (Philadelphia)
• 1948-D Dime (Denver)
• 1948-S Dime (San Francisco)

 

1948 No Mint Mark Dime Value

The 1948 Philadelphia dime was struck in the largest quantity of the three mints — 74,950,000 coins — yet it is the most difficult of the three to find with a sharp strike. Die quality at the Philadelphia facility during this period varied significantly from one working die to the next.

Most 1948-P dimes show weak separation on the torch bands, meaning Full Bands examples are genuine condition rarities. When examining your coin, look at the two pairs of horizontal bands on the torch under magnification. If both pairs show clear, unbroken separation lines, you may have a Full Bands coin worth sending to PCGS or NGC for certification.

At MS65, a standard strike example is worth around $20, while a Full Bands MS65 commands approximately $26 — a modest premium at that grade. The gap widens dramatically higher up: an MS67 without Full Bands brings roughly $45, while an MS67 FB commands around $160 or more.

At the top of the market, the auction record for this variety stands at $8,050, achieved by a PCGS MS68 Full Bands example in 2009. A standard MS68 Philadelphia dime reached $1,100 in 2021.

For collectors on a budget, standard uncirculated pieces from Philadelphia offer an accessible entry point. Those seeking investment potential should prioritize strike quality — an FB designation at high grade will far outperform a non-FB coin at the same numerical grade.

The following table chronicles this coin’s complete auction history.

Recent market activity over the past year shows steady collector interest in this accessible silver piece.

 

1948-D Dime Value

The 1948-D dime earned a strong reputation as the most consistently well-struck variety among all three 1948 mints. Denver’s quality control delivered sharper details across Roosevelt’s portrait and the torch’s intricate elements throughout the production run.

This consistency makes locating Full Band examples comparatively easier here than searching through Philadelphia strikes, where die quality fluctuated dramatically. It also means the Denver issue offers collectors a more reliable path to high-grade certified coins.

With approximately 52.8 million pieces produced, Denver strikes trade around $12–$18 for MS60–MS63 grades. Premium MS65 specimens reach $30–$50 or more, and the real scarcity begins at MS67 and above, where certified examples can command $250 or higher.

The all-time auction record for this variety is $4,313, set by a PCGS MS68 Full Bands example sold at Heritage Auctions in November 2005. No MS68 FB has since surpassed that mark, indicating the rarity of top-pop examples.

For collectors building complete date-and-mint sets, the 1948-D represents an excellent middle-ground choice. It offers superior strike quality without the steep premiums attached to San Francisco issues.

The historical auction records for this type are a key reference for its valuation.

The market activity chart reveals collector demand for the 1948-D issue.

 

1948-S Dime Value

The 1948-S dime represents the scarcest of the three 1948 varieties with just 35,520,000 coins produced, the lowest mintage of the year. It typically commands higher premiums in uncirculated grades compared to its Philadelphia and Denver counterparts.

In MS63 condition, these dimes reach around $8–$12 at current market prices. MS68 examples climb into the $1,250–$2,500 range, even without Full Bands.

The auction record stands at $4,465, achieved in April 2016 when Heritage Auctions sold an MS68 Full Bands specimen. Current buy-now prices for PCGS MS68 FB examples are listed at $1,450 on dealer networks, down from the 2016 auction high but still reflecting strong demand.

San Francisco strikes from 1948 display distinctive frosty, bright luster — a characteristic San Francisco trademark. However, peripheral design details near the edge can show weakness from die erosion, so examine the entire coin, not just the torch bands.

The combination of silver content, lower mintage, and collectible appeal makes the 1948-S an attractive option for both beginning collectors and more serious investors. Even in average condition, the coin holds value above its silver melt worth.

Historical auction records document the coin’s consistent collector appeal.

Market activity over recent months continues to reflect increasing interest in this issue.

Also Read: 16 Rare Dime Errors List with Pictures (By Year)

 

Rare 1948 Dime Error List

Post-war production pressures led to quality control challenges at U.S. Mint facilities in 1948. The result was several notable die varieties and striking errors that specialists actively seek today.

These manufacturing anomalies occurred during the early years of Roosevelt dime production, when die-making processes still relied heavily on manual operations and skilled hand work. Understanding the difference between genuine errors and common imitations is critical before paying any premium.

1. 1948-S/S RPM FS-501 Errors

The S over S repunched mint mark is the most commonly encountered error on 1948 Roosevelt dimes. San Francisco Mint workers manually punched mint marks onto working dies during production. When the punch struck twice without perfect alignment, a shadow or doubled “S” was created.

This variety is catalogued as FS-501 in the Fivaz-Stanton reference guide, CONECA RPM-001, and Variety Vista RPM-001. The key diagnostic feature is a portion of the underlying “S” visible to the southeast of the primary “S” — the secondary impression appears as a distinct outline beneath and to the right of the final mint mark.

Post-war staffing shortages and rushed production schedules made these errors more frequent in 1948 than in later years. The practice of hand-punching mint marks onto individual working dies continued until 1989, when the U.S. Mint modernized by placing mint marks directly on master hubs.

Current market values show this variety selling between $45 for average uncirculated specimens and up to $377 for premium examples. High-grade examples with clear S/S doubling and Full Bands designation can exceed $500 at auction.

An important caution: some sources have reported a 1948-D RPM variety, but this attribution is not confirmed by PCGS, NGC, or major reference guides. Raw examples of claimed D RPM varieties have surfaced on retail platforms for $80–$145, but collector caution is advised — seek expert authentication before paying any premium.

2. 1948 DDR FS-801 Errors

A doubled die reverse (DDR) occurs when the working die receives multiple, misaligned hub impressions during production. On authentic 1948 examples catalogued as FS-801, you can see doubling on “UNITED STATES OF AMERICA” and “ONE DIME,” with lighter doubling visible on the torch flame tips.

Genuine doubled dies show equally raised primary and secondary images — unlike mechanical doubling, where the secondary impression appears flattened or shelf-like, as if one side was slightly smeared. Always use magnification and compare your coin to certified reference photos before drawing conclusions.

An important warning: some coins advertised as “1948 DDR” are actually showing machine doubling (also called shelf doubling or strike doubling), a common post-strike anomaly that carries no numismatic premium. This type of false doubled die is not recognized by PCGS, NGC, or the Fivaz-Stanton guide. Never pay a premium for a claimed doubled die without certification from a major grading service.

For genuine FS-801 examples, uncirculated coins have sold for amounts ranging from approximately $25 to over $500 depending on grade and the strength of doubling. Full Bands specimens achieve premium prices. Market data suggests this error typically trades around $338 for high-grade uncirculated pieces.

3. 1948 Off-Center Strike Errors

An off-center strike occurs when the planchet isn’t properly centered between the dies at the moment of striking, resulting in part of the design being pushed off the edge of the coin.

During post-war production in 1948, quality control was not as rigorous as in later decades, making these errors more likely to slip through. When a planchet shifted before the hammer die descended, the design landed off its intended position — creating a coin with blank space where detail should be.

Value depends on the degree of displacement. Minor 10–15% shifts can bring $10–$20. Extreme examples where 50% or more of the design is missing — yet the date remains clearly visible — can fetch hundreds of dollars or more. Coins must be struck at least 5% off-center to register significant collector value.

The more off-center the strike, the more visually dramatic and valuable the coin. Collectors specifically prize examples where the date is still readable despite heavy displacement, since dating provides positive identification.

4. 1948 Clipped Planchet Errors

A clipped planchet error happens before the coin is even struck. During the blanking process, metal strips are fed through a press that punches out circular planchets. If the strip is misaligned or fed too quickly, the punch overlaps a previously cut hole — creating an incomplete planchet with a curved or straight section missing from the edge.

Most 1948 clipped planchet dimes show elliptical or curved clips along the edge. Straight clips are less common and slightly more valuable, occurring when blanks are cut from the very end of a metal strip.

To verify a genuine clip, check that both the obverse and reverse show the same area of missing metal — the clip goes through the entire coin. Also look for the natural rim curving into the clipped area; a sharp, filed edge indicates damage rather than a mint error.

A practical weight check also helps: a normal dime weighs 2.5 grams, so a 10% clipped example should weigh approximately 2.25 grams. Clipped planchet dimes in mint state condition typically fetch around $30 for minor clips. Larger clips of 15–20% can bring $50–$100 in uncirculated grades.

GreatCollections has offered a 1948 Roosevelt Dime struck on an elliptical planchet — a particularly dramatic form of this error — certified NGC MS-62. Unusual planchet shapes command higher premiums than standard curved clips.

 

Where To Sell Your 1948 Dime?

Whether you choose local coin dealers, online marketplaces, auction houses, or direct buyer platforms, selecting the right venue can significantly impact both your selling experience and the final value you receive.

Check out now: Best Places To Sell Coins Online (Pros & Cons)

 

1948 Dime Market Trend

*Market Trend Chart showing the number of people paying attention to this coin.

 

FAQ About 1948 Dime Value

1. Is the 1948 dime made of silver?

Yes, the 1948 Roosevelt Dime contains 90% silver and 10% copper, weighing 2.5 grams with approximately 0.0723 troy ounces of actual silver content.

This silver composition was standard for Roosevelt dimes from 1946 through 1964. The Coinage Act of 1965 ended silver use in circulating dimes, transitioning production to a copper-nickel clad composition that continues today.

The silver content gives 1948 dimes a firm melt value of approximately $3.52 at recent silver prices. That means even the most heavily worn examples are worth more than face value.

2. How much is a 1948 dime worth in circulated condition?

A circulated 1948 dime in average worn condition (grades Good through Fine) typically sells for $3–$6, slightly above its silver melt value.

In lightly worn About Uncirculated grades, values climb to around $6–$10 depending on eye appeal and mint mark. The San Francisco issue carries a small premium over Philadelphia and Denver in these grades due to its lower original mintage of 35.5 million coins.

Heavily worn examples that show smooth, flat surfaces with barely readable inscriptions trade essentially at the silver melt price, roughly $3.52. Even these worn coins have intrinsic value — they are not worthless.

3. What does Full Bands mean on a 1948 dime?

Full Bands (FB) is a special designation awarded by PCGS for Roosevelt dimes that show complete, unbroken separation of both the upper and lower horizontal bands on the reverse torch.

PCGS officially introduced this designation in September 2003. NGC uses a slightly stricter standard called Full Torch (FT), which also requires the vertical lines of the torch to show full definition — so an FB coin from PCGS may not qualify for NGC’s FT designation.

Most 1948 dimes — especially from the Philadelphia Mint — do not qualify for Full Bands because the dies were not always pressed with enough force to bring up sharp torch detail. When you find one that does qualify, the premium over a non-FB example can be dramatic, sometimes multiplying value by five times or more in the highest grades.

4. What errors can be found on 1948 dimes?

The most sought-after 1948 dime errors are the S/S Repunched Mint Mark (catalogued FS-501), off-center strikes, and clipped planchet errors.

The 1948-S/S RPM FS-501 is the best-documented variety, showing a secondary “S” impression to the southeast of the primary mint mark. It is listed in the Fivaz-Stanton guide, CONECA, and Variety Vista. Premium examples with clear doubling sell for $45–$377 or more.

Off-center strikes and clipped planchets are the most visually dramatic errors. Off-center examples with 50%+ displacement and a visible date can bring hundreds of dollars. Clipped planchet dimes sell for $30–$100 depending on clip size.

One caution: claims of a 1948 Doubled Die Reverse affecting the lettering are mostly machine doubling, not a true hubbing error. This type carries no numismatic premium and is not recognized by PCGS or NGC.

5. Why was Roosevelt chosen for the dime design?

Roosevelt was honored on the dime because of his founding of the March of Dimes in 1938, an organization created to fight polio — a disease he himself contracted in 1921 at age 39.

The March of Dimes fundraising method literally asked Americans to mail dimes to the White House, making the ten-cent coin a deeply personal symbol for Roosevelt. After his death on April 12, 1945, it felt natural to honor him on the denomination most associated with his legacy.

The Roosevelt dime was first struck on January 19, 1946, at the Philadelphia Mint — a date chosen to coincide with what would have been his 64th birthday.

6. How do I find the mint mark on a 1948 dime?

Turn the coin over to the reverse (tail) side and look at the lower left area, near the base of the torch. The mint mark is a small letter positioned just above the “E” in “ONE DIME.”

A “D” means the coin was minted in Denver. An “S” means it came from San Francisco. If you see nothing in that spot, the coin was made in Philadelphia — Philadelphia coins carried no mint mark until a “P” was introduced in 1980.

The mint mark can be difficult to see on heavily worn coins. A 5x magnifying loupe or a close-up photo under good lighting makes identification much easier.

7. What is the most valuable 1948 dime ever sold?

The most valuable 1948 dime ever sold is a Philadelphia (no mint mark) MS68 Full Bands example, which achieved $8,050 at auction in 2009.

The second-highest price on record is $4,465, set in April 2016 when Heritage Auctions sold a 1948-S MS68 Full Bands specimen. The 1948-D auction record stands at $4,313, also a Heritage sale, in November 2005.

These prices reflect the extreme rarity of MS68 examples with Full Bands — the combination of technical grade and strike quality that collectors prize above all else.

8. Were proof 1948 dimes ever made?

No proof 1948 dimes were produced. Proof coinage — struck with specially polished dies on mirror-finish planchets — was suspended at the U.S. Mint during 1943 due to wartime demands, and it was not revived until 1950.

This means there are no special collector versions of the 1948 dime with cameo (CAM) or deep cameo (DCAM) designations, unlike many later Roosevelt dimes. Every 1948 dime in existence is a business strike intended for everyday circulation.

The absence of proofs actually increases the importance of high-grade, well-struck business strikes for collectors seeking the finest known examples of this date.

9. How do I tell if my 1948 dime is a good investment?

The best investment potential in 1948 dimes lies with certified high-grade examples — particularly MS67 and above — with the Full Bands designation from PCGS or Full Torch from NGC.

Standard circulated examples trade near their silver melt value, which fluctuates with the silver spot price. They offer silver exposure but limited collector premium growth.

The real appreciation potential is in certified MS67+ FB examples, where population figures are low and buyer demand from registry set collectors remains consistent. The 1948-S is the most conditionally scarce of the three varieties, often commanding higher premiums at equivalent grades compared to the Philadelphia and Denver issues.

10. What is the difference between PCGS Full Bands and NGC Full Torch?

PCGS and NGC use different terms and standards for recognizing sharp strike quality on Roosevelt dimes, and the difference matters to buyers.

PCGS awards the “Full Bands” (FB) designation when both the upper and lower horizontal bands on the reverse torch show complete, unbroken separation, with no significant marks across the bands. This designation has been in use since September 2003.

NGC uses the term “Full Torch” (FT) and applies a stricter standard: in addition to the horizontal band separation required by PCGS, the vertical lines of the torch must also show full definition and separation. A coin in a PCGS FB holder will not automatically qualify for NGC’s FT designation.

For budget-conscious collectors, PCGS FB is more readily available and still carries a significant premium over non-FB examples. For registry set completists or those seeking the absolute finest quality, NGC FT represents the higher bar.