The 1942 Mercury Dime is one of the most iconic coins in America, highly sought after by collectors for its artistic design and historical importance. While the majority of these dimes are relatively affordable, certain rare variations, particularly error coins, can fetch tens of thousands of dollars. Let’s take a closer look at what makes some 1942 Mercury Dimes so valuable and appealing to numismatists.
Overview of the 1942 Mercury Dime
Also known as the Winged Liberty Head Dime, the Mercury Dime was minted from 1916 to 1945. Designed by sculptor Adolph Weinman, the coin features Lady Liberty adorned with a winged cap, which symbolizes freedom of thought and is often confused with the Roman god Mercury. The reverse side displays a fasces, representing unity, alongside an olive branch, symbolizing peace.
In 1942, the demand for coins surged due to World War II, resulting in a high production volume. More than 300 million dimes were minted at the Philadelphia, Denver, and San Francisco mints. Despite this large mintage, certain variations of the 1942 Mercury Dime are considered highly valuable because of their rarity or unique features.
Why Some 1942 Mercury Dimes Are Worth Over $10,000
Several factors contribute to the high value of specific 1942 Mercury Dimes, including mint errors, rarity, and special designations. Here’s what collectors often seek:
- The 1942/1 Overdate Error
One of the most sought-after variations is the 1942/1 overdate error, found in dimes from the Philadelphia and Denver mints. This mistake occurred when a 1941 die was re-stamped with a 1942 date, resulting in a visible overlap of the “1” beneath the “2.” This rare error significantly boosts the coin’s value, particularly in high grades.Notable Sales: A Philadelphia-minted 1942/1 dime graded MS67 with a Full Bands designation sold for an impressive $108,000. Even coins in lower grades can command prices exceeding $6,000, depending on their condition.
Rarity of Denver Mint Versions: The 1942/1-D (Denver) overdate error is especially scarce, with only a few known examples, making it one of the most valuable dimes in American coin collecting. - The “Full Bands” (F.B.) designation is a hallmark of quality that collectors highly prize. On the reverse side of the Mercury Dime, “Full Bands” indicates that the horizontal bands on the fasces are completely separated, signifying a sharp and well-struck coin.
- Market Value
- High-grade Full Bands dimes can fetch prices over $10,000. For instance, a 1942-S Mercury Dime graded MS68 with the Full Bands designation sold for $65,000.
- Grading Impact
- Coins with the Full Bands distinction typically command higher prices, especially in mint-state grades like MS67 or MS68.
- Value of Regular 1942 Mercury Dimes
- While some rare 1942 dimes can be extremely valuable, the majority of 1942 Mercury Dimes are relatively affordable, particularly those without errors or Full Bands designations.
- Circulated Coins: Standard 1942 Mercury Dimes in circulated condition generally range from $2 to $5, largely due to their silver content.
- Uncirculated Coins: Uncirculated coins graded MS65 or higher can vary in price from $20 to $600. However, coins with Full Bands in these higher grades may exceed this price range.
What is the value of a 1942 Mercury Dime in average condition?
In circulated condition, a standard 1942 Mercury Dime is typically valued between $2 and $5, mainly due to its silver content.
How can I identify a 1942/1 overdate Mercury Dime?
The 1942/1 overdate error features the “42” stamped over “41,” resulting in a noticeable overlap. These coins are rare and valuable, especially when found in higher grades.
What does the Full Bands designation mean?
The Full Bands (F.B.) designation indicates that the bands on the fasces depicted on the reverse side of the coin are completely separated, signifying a sharp strike. Coins with this designation, particularly in high mint states, can be worth considerably more.
