The Mercury dime, minted between 1916 and 1945, remains a beloved coin among collectors. While most are relatively common, a select few have become legends in numismatics, selling for over $1 million at auction. This article spotlights three extraordinary Mercury dimes, unraveling the details behind their immense value and appeal.
1. 1916-D Mercury Dime
The 1916-D Mercury Dime is a cornerstone of rare U.S. coinage, celebrated for its scarcity and the prestigious “Full Bands” designation.
Key Features:
- Mintage: Only 264,000, the lowest in the Mercury dime series.
- Mint Mark: ‘D,’ representing the Denver Mint.
- Composition: 90% silver, 10% copper.
- Design: Lady Liberty wearing a winged cap on the obverse, with a fasces and olive branch on the reverse.
Notable Sales:
- A 1916-D graded MS67 with Full Bands sold for $207,000 in 2010.
- Another top-grade example fetched a staggering $1.5 million, setting a benchmark for this iconic coin.
Why It’s Valuable:
- Low Mintage: With such a limited production, it’s a must-have for Mercury dime enthusiasts.
- Full Bands: Fully separated horizontal bands on the reverse fasces elevate its value.
- Condition: Coins in pristine grades command significant premiums.
2. 1942/1-D Overdate Mercury Dime
This variety captures attention due to a striking minting error, where remnants of both 1941 and 1942 dates overlap.
Key Features:
- Error Type: Overdate, with both ‘1’ and ‘2’ visible in the date.
- Mint Mark: ‘D,’ indicating the Denver Mint.
- Composition: 90% silver, 10% copper.
Notable Sales:
- High-grade examples of this coin have surpassed $100,000 at auction.
Why It’s Valuable:
- Rarity: The overdate error makes it a highly coveted piece.
- Condition: Clear overdate details in top grades significantly enhance its desirability.
3. 1938-S Mercury Dime
Renowned for its exceptional quality in high grades, the 1938-S Mercury Dime is a collector favorite.
Key Features:
- Mintage: Approximately 8,090,000.
- Mint Mark: ‘S,’ denoting the San Francisco Mint.
- Composition: 90% silver, 10% copper.
Notable Sales:
- In 2019, a specimen graded MS68+ with Full Bands sold for a record $364,250.
Why It’s Valuable:
- Condition: Flawless examples with Full Bands are incredibly rare.
- Eye Appeal: Coins with striking toning and luster attract premium bids.
The Importance of the ‘Full Bands’ Designation
A coin earns the “Full Bands” (FB) designation when the horizontal bands on the fasces are fully separated and sharply defined. Coins with this feature, indicating a superior strike, are significantly rarer and more valuable.
Summary of Notable Mercury Dimes
| Year | Mint Mark | Mintage | Notable Sale Price | Key Feature |
|---|---|---|---|---|
| 1916 | D | 264,000 | $1.5 million | Lowest mintage in the series |
| 1942/1 | D | N/A | Over $100,000 | Overdate error |
| 1938 | S | 8,090,000 | $364,250 | High-grade with Full Bands |
Tips for Collectors
- Examine Details: Inspect the date, mint mark, and band details with a magnifying glass.
- Evaluate Condition: Higher-grade coins with sharp features fetch top dollar.
- Seek Professional Grading: Use reputable services like PCGS or NGC to authenticate and grade your coins.
While most Mercury dimes are valued modestly, a few rare specimens stand out for their historical significance and extraordinary condition. Keeping an eye out for these treasures could lead to a rewarding discovery.
FAQs About Rare Mercury Dimes Worth Over $1 Million
1. What makes the 1916-D Mercury Dime so valuable?
The 1916-D Mercury Dime is highly valuable due to its extremely low mintage of just 264,000 coins, making it the rarest in the Mercury dime series. Its value increases exponentially when the coin features the “Full Bands” designation and is in excellent condition.
2. What is the significance of the “Full Bands” designation?
The “Full Bands” designation refers to the horizontal bands on the fasces (reverse side of the Mercury dime) being fully separated and sharply struck. This indicates a superior strike quality and rarity, which significantly enhances the coin’s value.
3. How can I identify the 1942/1-D Overdate Mercury Dime?
Look closely at the date under magnification. The 1942/1-D Overdate Mercury Dime shows remnants of both a ‘1’ and a ‘2’ overlapping in the date. This unique die error makes it a sought-after variety.
4. Why is the 1938-S Mercury Dime included in this list despite a higher mintage?
While the 1938-S Mercury Dime had a relatively higher mintage of 8,090,000, its value lies in its exceptional condition and eye appeal. High-grade examples with the “Full Bands” designation and attractive toning have fetched record-breaking prices.
5. How can I determine the value of my Mercury dime?
To assess your coin’s value:
- Inspect its date, mint mark, and overall condition.
- Check for special features like the Full Bands designation or unique errors (e.g., overdates).
- Have the coin professionally graded by services like PCGS or NGC for an accurate valuation.
6. Are all Mercury dimes valuable?
Most Mercury dimes are common and have modest value, primarily tied to their silver content. However, rare dates, mint errors, and coins in exceptional condition can command significantly higher prices.
7. What should I look for when collecting Mercury dimes?
Focus on key date coins (like the 1916-D), varieties (such as the 1942/1-D Overdate), and coins with the Full Bands designation. Additionally, prioritize coins in high grades and with excellent eye appeal.
8. Where can I buy or sell rare Mercury dimes?
You can buy or sell rare Mercury dimes through:
- Online marketplaces like eBay or Heritage Auctions.
- Coin shows and numismatic conventions.
- Local coin dealers or collectors’ networks.
- Always ensure you deal with reputable sources to avoid counterfeit coins.
9. How do I know if my Mercury dime has Full Bands?
Use a magnifying glass or loupe to examine the fasces on the reverse of the coin. If the horizontal bands are fully separated and distinct, your coin may qualify for the Full Bands designation.
10. Can a regular collector find one of these rare Mercury dimes?
While rare, it’s possible to discover valuable Mercury dimes in inherited collections, estate sales, or even by carefully searching through circulated coins. Always keep an eye out for key dates and mint errors.
11. Are professionally graded Mercury dimes worth more?
Yes, professionally graded coins from services like PCGS or NGC often fetch higher prices due to their guaranteed authenticity and detailed condition evaluation.
12. How can I protect my rare Mercury dimes?
Store your coins in protective holders, such as slabs or air-tight cases, to prevent damage. Keep them in a temperature-controlled environment and avoid handling them directly to preserve their condition.