The United States dime, a ten-cent coin, was historically composed of 90% silver and 10% copper. This composition defined what are commonly referred to as “silver dimes.” These coins were a staple of American currency for decades, circulating widely in everyday transactions.
The inherent value of silver in these coins meant that as the price of silver rose in the early to mid-1960s, the silver content of the dime began to exceed its face value. This created a situation where it became profitable to melt down dimes for their silver, threatening the supply of circulating coinage. Continuing to mint dimes with a high silver content would have required a significant increase in the cost of production, making it economically unsustainable.