diff --git a/app/actions/generate-key.js b/app/actions/generate-key.js
index 08d6376..27f2ebd 100644
--- a/app/actions/generate-key.js
+++ b/app/actions/generate-key.js
@@ -9,8 +9,7 @@ import { mintAndPersist, numEnv } from "@/lib/keys/mint-key";
 /**
  * @typedef {Object} GenerateKeyResult
  * @property {"created"|"exists"|"error"} status
- * @property {string} [rawKey]   present only when status === "created" (shown once)
- * @property {string|null} [keyHint] last-4 hint for masked display
+ * @property {string|null} [rawKey] full key, present for "created" and "exists" (retrievable)
  * @property {string} [message]  human-friendly info/error
  */
 
@@ -35,10 +34,10 @@ export async function generateKey() {
     return { status: "error", message: "Sign in with GitHub first." };
   }
 
-  // Idempotency fast-path: existing active key → masked hint, never mint again.
+  // Idempotency fast-path: existing active key → return it, never mint again.
   const existing = await repo.findByGithubUserId(identity.githubUserId);
   if (existing && existing.status === "active") {
-    return { status: "exists", keyHint: existing.key_hint, message: "You already have a key." };
+    return { status: "exists", rawKey: existing.openrouter_key, message: "You already have a key." };
   }
 
   // Feature gate: live minting stays OFF until the OpenRouter ToS gate clears.
@@ -87,7 +86,7 @@ export async function generateKey() {
 async function resolveConflict(identity) {
   const row = await repo.findByGithubUserId(identity.githubUserId);
   if (row?.status === "active") {
-    return { result: { status: "exists", keyHint: row.key_hint, message: "You already have a key." } };
+    return { result: { status: "exists", rawKey: row.openrouter_key, message: "You already have a key." } };
   }
   // Pending row. If stale, an earlier mint was interrupted — reclaim and retry.
   if (row && isStale(row.created_at, STALE_PENDING_MS)) {
diff --git a/app/dashboard/page.js b/app/dashboard/page.js
index 6c08083..ee2bcf0 100644
--- a/app/dashboard/page.js
+++ b/app/dashboard/page.js
@@ -25,10 +25,10 @@ export default async function DashboardPage() {
     );
   }
 
-  let existingHint = null;
+  let existingKey = null;
   try {
     const row = await repo.findByGithubUserId(identity.githubUserId);
-    if (row && row.status === "active") existingHint = row.key_hint;
+    if (row && row.status === "active") existingKey = row.openrouter_key;
   } catch {
     // DB not reachable (e.g. local without POSTGRES_URL) — show the panel; the
     // server action gates minting and reports a friendly error.
@@ -41,7 +41,7 @@ export default async function DashboardPage() {
     <main>
       <h1>Your key</h1>
       <p className="muted">Signed in as @{identity.githubUsername}.</p>
-      <GenerateKeyPanel existingHint={existingHint} model={model} repoUrl={repoUrl} />
+      <GenerateKeyPanel existingKey={existingKey} model={model} repoUrl={repoUrl} />
     </main>
   );
 }
diff --git a/components/admin/admin-keys-table.js b/components/admin/admin-keys-table.js
index 86654c9..4bdec8b 100644
--- a/components/admin/admin-keys-table.js
+++ b/components/admin/admin-keys-table.js
@@ -1,9 +1,9 @@
-import { maskFromHint } from "@/lib/keys/key-format";
 import { AdminKeyRowActions } from "./admin-key-row-actions";
 
 /**
- * Renders only safe columns: username, masked key hint, status, created date.
- * The `openrouter_key_hash` is NEVER rendered or serialized to the client.
+ * Admin table: username, full key, status, created date. The full raw key is
+ * shown here intentionally (admin-only, gated route). The delete handle
+ * (`openrouter_key_hash`) is never rendered.
  *
  * @param {{ rows: import('@/lib/keys/api-keys-repository').ApiKeyRow[] }} props
  */
@@ -33,7 +33,7 @@ export function AdminKeysTable({ rows }) {
             <tr key={row.id}>
               <td>@{row.github_username}</td>
               <td>
-                <code>{maskFromHint(row.key_hint)}</code>
+                <code>{row.openrouter_key ?? "—"}</code>
               </td>
               <td>{row.status}</td>
               <td className="muted">
diff --git a/components/generate-key-panel.js b/components/generate-key-panel.js
index 7675b67..5f02c3b 100644
--- a/components/generate-key-panel.js
+++ b/components/generate-key-panel.js
@@ -3,19 +3,18 @@
 import { useState } from "react";
 
 import { generateKey } from "@/app/actions/generate-key";
-import { maskFromHint } from "@/lib/keys/key-format";
 import { KeyDisplay } from "./key-display";
 
 /**
- * Generate / existing-key panel. Calls the server action; renders the one-time
- * key on success, the masked hint if a key already exists.
+ * Generate / existing-key panel. Calls the server action; renders the full key
+ * (retrievable) whether it was just created or already existed.
  *
- * @param {{ existingHint: string|null, model: string, repoUrl: string }} props
+ * @param {{ existingKey: string|null, model: string, repoUrl: string }} props
  */
-export function GenerateKeyPanel({ existingHint, model, repoUrl }) {
+export function GenerateKeyPanel({ existingKey, model, repoUrl }) {
   const [state, setState] = useState(
-    existingHint
-      ? { status: "exists", keyHint: existingHint }
+    existingKey
+      ? { status: "exists", rawKey: existingKey }
       : { status: "idle" },
   );
   const [loading, setLoading] = useState(false);
@@ -27,24 +26,11 @@ export function GenerateKeyPanel({ existingHint, model, repoUrl }) {
     setLoading(false);
   }
 
-  if (state.status === "created") {
+  // Both freshly created and previously existing keys render the full value.
+  if (state.status === "created" || state.status === "exists") {
     return <KeyDisplay rawKey={state.rawKey} model={model} />;
   }
 
-  if (state.status === "exists") {
-    return (
-      <div className="panel">
-        <p>
-          Your key (masked): <code>{maskFromHint(state.keyHint)}</code>
-        </p>
-        <p className="muted">
-          The full key is shown only once at creation. Lost it? That&apos;s okay —
-          it&apos;s free; a regenerate flow may come later.
-        </p>
-      </div>
-    );
-  }
-
   return (
     <div className="panel">
       <button className="btn" onClick={onGenerate} disabled={loading}>
diff --git a/components/key-display.js b/components/key-display.js
index 5601e68..a4f6f71 100644
--- a/components/key-display.js
+++ b/components/key-display.js
@@ -3,9 +3,8 @@
 import { useState } from "react";
 
 /**
- * One-time raw key display with a copy button and a prominent "shown once"
- * warning. After this render the key is gone (never re-fetchable) — v1 has no
- * recovery path, which is acceptable for a free key.
+ * Raw key display with a copy button. The key is stored and retrievable on the
+ * dashboard, so this renders both at creation and on return visits.
  *
  * @param {{ rawKey: string, model: string }} props
  */
@@ -24,7 +23,8 @@ export function KeyDisplay({ rawKey, model }) {
   return (
     <div className="panel">
       <p className="warn">
-        ⚠ Copy this key now — it is shown only once and cannot be recovered.
+        ⚠ Keep this key secret — treat it like a password. You can always copy it
+        again here on your dashboard.
       </p>
       <div className="key-box">
         <code>{rawKey}</code>
diff --git a/lib/keys/api-keys-repository.js b/lib/keys/api-keys-repository.js
index 8b0eedf..92080c9 100644
--- a/lib/keys/api-keys-repository.js
+++ b/lib/keys/api-keys-repository.js
@@ -7,7 +7,8 @@ import { getSql } from "@/lib/db/postgres-client";
  * @property {string} id
  * @property {string} github_user_id
  * @property {string} github_username
- * @property {string|null} openrouter_key_hash
+ * @property {string|null} openrouter_key_hash  OpenRouter delete handle (for revoke), NOT a hash of the key.
+ * @property {string|null} openrouter_key        Raw key, stored so users can retrieve it later.
  * @property {string|null} key_hint
  * @property {string} status            'pending' | 'active'
  * @property {string} created_at
@@ -33,17 +34,18 @@ export async function reserve(githubUserId, githubUsername) {
 }
 
 /**
- * Mark a reserved row active with its mint result.
+ * Mark a reserved row active with its mint result. Stores the raw key so it can
+ * be retrieved later, plus the delete handle (`hash`) and last-4 hint.
  *
  * @param {string} id
- * @param {{ hash: string, hint: string }} mint
+ * @param {{ hash: string, hint: string, rawKey: string }} mint
  * @returns {Promise<void>}
  */
-export async function activate(id, { hash, hint }) {
+export async function activate(id, { hash, hint, rawKey }) {
   const sql = getSql();
   await sql`
     update llmapikey.api_keys
-    set openrouter_key_hash = ${hash}, key_hint = ${hint}, status = 'active'
+    set openrouter_key_hash = ${hash}, openrouter_key = ${rawKey}, key_hint = ${hint}, status = 'active'
     where id = ${id}`;
 }
 
diff --git a/lib/keys/key-format.js b/lib/keys/key-format.js
index 3c1057b..6a681ca 100644
--- a/lib/keys/key-format.js
+++ b/lib/keys/key-format.js
@@ -4,8 +4,7 @@
  */
 
 /**
- * Last 4 chars of a raw key, for masked display/storage. The raw key itself is
- * never stored; only this hint is.
+ * Last 4 chars of a raw key, for masked display (e.g. the admin create toast).
  *
  * @param {string} rawKey
  * @returns {string}
diff --git a/lib/keys/mint-key.js b/lib/keys/mint-key.js
index c879be4..328a45e 100644
--- a/lib/keys/mint-key.js
+++ b/lib/keys/mint-key.js
@@ -42,7 +42,7 @@ export async function mintAndPersist(reservedId, githubUserId) {
   }
 
   try {
-    await repo.activate(reservedId, { hash: mint.hash, hint: last4(mint.key) });
+    await repo.activate(reservedId, { hash: mint.hash, hint: last4(mint.key), rawKey: mint.key });
   } catch {
     try {
       await deleteKey(mint.hash); // avoid an orphaned billable key
diff --git a/supabase/migrations/0002_api_keys_store_raw_key.down.sql b/supabase/migrations/0002_api_keys_store_raw_key.down.sql
new file mode 100644
index 0000000..a3288a9
--- /dev/null
+++ b/supabase/migrations/0002_api_keys_store_raw_key.down.sql
@@ -0,0 +1,4 @@
+-- Rollback for 0002. Drops the stored raw key (revocation still works via
+-- openrouter_key_hash). Run manually against the same DB; Vercel rollback does
+-- not revert the database.
+alter table llmapikey.api_keys drop column if exists openrouter_key;
diff --git a/supabase/migrations/0002_api_keys_store_raw_key.up.sql b/supabase/migrations/0002_api_keys_store_raw_key.up.sql
new file mode 100644
index 0000000..e9cf408
--- /dev/null
+++ b/supabase/migrations/0002_api_keys_store_raw_key.up.sql
@@ -0,0 +1,6 @@
+-- Store the raw OpenRouter key so users can retrieve it later (no more
+-- shown-once-only). The key still lives only in the unexposed `llmapikey`
+-- schema (deny-all RLS, reached solely by the server-side direct connection).
+-- `openrouter_key_hash` is retained — it is OpenRouter's delete handle for
+-- revocation, not a hash of the key.
+alter table llmapikey.api_keys add column if not exists openrouter_key text;