Mercury dimes are valuable coins that have intrigued collectors for years. Minted between 1916 and 1945, many of these coins are commonly found, but there are a few rare ones that are worth millions of dollars. In this article, we will take a closer look at three Mercury dimes that have fetched over $1 million at auctions. We will explore what makes these coins so rare and valuable, as well as the important factors that collectors consider when looking for these treasures.
1. 1916-D Mercury Dime: The Rare and Valuable Treasure
The 1916-D Mercury Dime is one of the most sought-after coins in the Mercury dime series. With a very low mintage of only around 264,000 coins, it is one of the rarest coins in this collection. The 1916-D Mercury Dime is particularly valuable if it has the “Full Bands” feature, which is a special quality that makes it stand out from other coins.
Key Features:
- Mintage: Around 264,000, the lowest in the series.
- Mint Mark: ‘D’ indicating the Denver Mint.
- Composition: 90% silver, 10% copper.
- Design: The coin features Lady Liberty wearing a winged cap on the front (obverse) and a fasces (a bundle of sticks) with an olive branch on the back (reverse).
Notable Sales:
- In 2010, a specimen graded MS67 with Full Bands sold for $207,000.
- Another example sold for an astonishing $1.5 million, showing how valuable these coins can be.
Factors That Affect the Value:
- Low Mintage: The small number of these coins makes it highly desirable among collectors.
- Full Bands: Coins with fully struck horizontal bands on the fasces are worth much more.
- Condition: Coins in excellent condition (like MS67) are priced significantly higher.
2. 1942/1-D Overdate Mercury Dime: A Rare Error Coin
Another rare Mercury dime is the 1942/1-D Overdate Mercury Dime. This coin is special because it was produced due to a mistake made during the minting process, which resulted in the overlapping of the digits “1” and “2” in the date. This die error makes it an extremely rare find.
Key Features:
- Overdate Error: The digits ‘1’ and ‘2’ in the year overlap, creating a distinct error.
- Mint Mark: ‘D’ for Denver.
- Composition: 90% silver, 10% copper.
Notable Sales:
- Some 1942/1-D Mercury Dimes have sold for over $100,000, depending on their condition.
Factors That Affect the Value:
- Rarity: The overdate error is not common, making this coin highly desirable among collectors.
- Condition: Well-preserved coins with clear overdate features are the most valuable.
3. 1938-S Mercury Dime: A High-Grade Gem
The 1938-S Mercury Dime is another valuable coin, especially if it is in top condition. With a mintage of approximately 8,090,000, it is more common than the 1916-D and 1942/1-D dimes, but it is still highly valued, especially if it is graded highly by professional evaluators.
Key Features:
- Mintage: About 8,090,000.
- Mint Mark: ‘S’ denoting the San Francisco Mint.
- Composition: 90% silver, 10% copper.
Notable Sales:
- In 2019, a 1938-S Mercury Dime graded MS68+ with Full Bands sold for a record-breaking $364,250.
Factors That Affect the Value:
- Condition: The coin’s quality is crucial. Higher grades with Full Bands are far more valuable.
- Eye Appeal: Dimes with attractive toning and strong luster are more in demand.
What Does “Full Bands” Mean?
In the world of coin collecting, you may have heard the term “Full Bands” (FB) used to describe Mercury dimes. This designation refers to the horizontal bands on the fasces (the bundle of sticks) on the reverse side of the coin. To receive the Full Bands (FB) label, the bands must be well-defined and distinct. This shows that the coin was struck perfectly, and coins with this feature are often 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 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 Coin Collectors
If you’re looking to start or grow your coin collection, here are a few tips that can help you identify valuable Mercury dimes:
- Examine Details Carefully: Use a magnifying glass to check the date, mint mark, and the Full Bands feature on the reverse side of the coin.
- Assess the Condition: Coins that are in excellent condition with clear features, like the Full Bands, will be more valuable.
- Get a Professional Opinion: Consult with a reputable coin grading service to get an accurate evaluation of the coin’s worth.
While most Mercury dimes are not worth a fortune, there are some rare specimens that are highly valuable. These coins are sought after for their history, rarity, and unique features. If you’re lucky enough to find one, it could turn out to be a valuable treasure!
Guilderland Historical Society
FAQs
Why are some Mercury Dimes worth over $1 million?
Certain rare Mercury Dimes, like the 1916-D and 1942/1-D, are valuable due to low mintage, unique errors, and excellent condition.
What does “Full Bands” mean on a Mercury Dime?
“Full Bands” refers to clear, distinct horizontal bands on the fasces, indicating a well-struck coin.
How can I tell if my Mercury Dime is valuable?
Examine the coin for features like low mintage, Full Bands, and overall condition to assess its value.