The United States dime, a ten-cent coin, was historically composed of 90% silver and 10% copper. This composition gave the coins a intrinsic metal value alongside their face value. These coins were a staple in circulation for many years.
Rising silver prices in the early 1960s made the silver content of dimes more valuable than their face value. This created a situation where it was profitable to melt down the coins for their silver content, threatening the dime’s role in everyday transactions. The situation necessitated a change in the coin’s composition.