The period during which the United States dime coin transitioned away from a composition primarily consisting of silver is a notable event in numismatic and economic history. Prior to 1965, dimes were produced with a 90% silver and 10% copper alloy. This gave them intrinsic precious metal value, as the silver content itself held worth. For example, a dime minted in 1964 contains approximately 0.07234 troy ounces of silver.
Escalating silver prices during the early to mid-1960s made it increasingly expensive to continue producing dimes with a high silver content. The intrinsic value of the silver in the coin began to approach, and in some cases exceed, the face value of ten cents. This situation threatened to incentivize melting down the coins for their silver, potentially removing them from circulation. The rising silver prices were fueled by increasing industrial demand for silver and a global shortage.
