Mercury dimes are highly collectible coins from the United States, minted between 1916 and 1945. Among these dimes, there are rare editions that can fetch prices of over $1 million at auctions. These special coins are sought after by collectors because of their unique features, historical value, and limited availability. In this article, we will take a closer look at three such Mercury dimes that are each worth over $1 million. You will learn about their key characteristics, the reasons behind their high prices, and tips for collectors who are interested in these valuable coins.
1. The 1916-D Mercury Dime: A Rare Treasure
The 1916-D Mercury Dime is one of the most famous and valuable dimes in U.S. history. It is special because of its low production, making it a rare find. This coin is highly sought after by numismatists (coin collectors) due to its scarcity and unique features.
Key Features:
- Mintage: Only about 264,000 were made, which is the lowest mintage in the entire Mercury dime series.
- Mint Mark: The ‘D’ mint mark indicates that it was made at the Denver Mint.
- Composition: Like most Mercury dimes, it is made of 90% silver and 10% copper.
- Design: The front shows Lady Liberty wearing a winged cap, while the back features a fasces (a bundle of rods symbolizing strength) and an olive branch.
Notable Sales:
- In 2010, a 1916-D Mercury Dime graded MS67 with Full Bands sold for $207,000.
- Another coin of the same type fetched a massive $1.5 million because of its rarity and condition.
Factors Influencing Its Value:
- Low Mintage: The small number of these dimes produced makes them very rare.
- Full Bands: Coins that have clearly visible and distinct horizontal bands on the fasces (the back design) are especially valuable.
- Condition: The better the condition of the coin, the higher its price. Higher-grade coins, such as those with MS67 or better ratings, can command impressive prices.
2. The 1942/1-D Overdate Mercury Dime: A Mistake That Became Valuable
Another highly valuable Mercury dime is the 1942/1-D Overdate. This coin was made due to a mistake during its minting process. The date on the coin is a combination of the digits from two different years, 1941 and 1942, which makes it a special variety.
Key Features:
- Overdate Error: The coin shows parts of both the “1” and “2” of the year 1942, as it was struck using a die that had not been fully updated.
- Mint Mark: The ‘D’ indicates it was minted at the Denver Mint.
- Composition: Like most other Mercury dimes, it is made of 90% silver and 10% copper.
Notable Sales:
- A high-grade 1942/1-D Mercury Dime has sold for more than $100,000 at auction due to its rarity.
Factors Influencing Its Value:
- Rarity: The overdate error is not commonly found, making these coins very desirable to collectors.
- Condition: Coins that are well-preserved and show clear overdate features are much more valuable.
3. The 1938-S Mercury Dime: Quality and Beauty Combined
The 1938-S Mercury Dime is another highly prized coin, especially for those who value quality and aesthetics. This coin is admired for its excellent design and the high quality of some of the best-preserved specimens.
Key Features:
- Mintage: Around 8,090,000 of these dimes were made, which is relatively high compared to others in the series.
- Mint Mark: The ‘S’ mint mark shows that it was produced at the San Francisco Mint.
- Composition: Like all Mercury dimes, it is made from 90% silver and 10% copper.
Notable Sales:
- In 2019, a 1938-S Mercury Dime that was graded MS68+ with Full Bands sold for an impressive $364,250.
Factors Influencing Its Value:
- Condition: Dimes that are in excellent condition, particularly with the Full Bands designation, are much more valuable.
- Eye Appeal: Coins that have attractive toning or a strong luster are more desirable to collectors.
Understanding the ‘Full Bands’ Designation
One of the key factors that determine the value of Mercury dimes is the Full Bands (FB) designation. This term refers to the horizontal bands on the fasces on the back of the coin. For a coin to receive this designation, these bands must be clearly visible and distinct, indicating a strong and well-centered strike when the coin was minted. Dimes with Full Bands are rarer and, therefore, more valuable.
Tips for Collectors: How to Spot Valuable Mercury Dimes
If you are a coin collector and want to find Mercury dimes that could be worth a lot of money, here are some tips to help you spot the best ones:
- Examine Details: Use a magnifying glass to carefully inspect the date, mint mark, and the horizontal bands on the back of the coin. This will help you identify rare features.
- Check the Condition: Coins in better condition, especially those with sharp details and Full Bands, will generally be more valuable.
- Seek Professional Help: If you’re unsure about the value of a coin, it’s a good idea to get it graded by a reputable coin grading service to ensure its authenticity and value.
Conclusion
While most Mercury dimes are not worth much, certain rare coins from this series have become incredibly valuable. The 1916-D, 1942/1-D Overdate, and 1938-S Mercury dimes are just a few examples of coins that have sold for hundreds of thousands, or even millions, of dollars. Their rarity, historical significance, and excellent condition contribute to their high value. For collectors, finding one of these coins could lead to a huge reward. Always keep an eye out for rare features like the Full Bands designation, and don’t hesitate to get expert advice when purchasing or assessing Mercury dimes.
Guilderland Historical Society
FAQs
What is a Mercury dime?
A Mercury dime is a U.S. coin minted between 1916 and 1945, featuring Lady Liberty on the front and a fasces on the back.
Why are some Mercury dimes worth over $1 million?
Rare Mercury dimes with low mintage, mint errors, or high-quality conditions can fetch prices over $1 million.
What does “Full Bands” mean in Mercury dimes?
“Full Bands” refers to clearly visible horizontal bands on the fasces, a feature that increases the coin’s value.