The 1942 Mercury Dime is one of America’s most famous coins, prized by collectors for its artistic design and historical significance. While most of these dimes are affordable, certain rare variations, especially error coins, can be worth tens of thousands of dollars. Here’s a closer look at what makes some 1942 Mercury Dimes so valuable and sought after by numismatists.
Overview of the 1942 Mercury Dime
The Mercury Dime, also called the Winged Liberty Head Dime, was minted from 1916 to 1945. Designed by sculptor Adolph Weinman, the coin features Lady Liberty with a winged cap, symbolizing freedom of thought, often mistaken for the Roman god Mercury. The reverse side depicts a fasces (symbolizing unity) and an olive branch (symbolizing peace).
In 1942, the demand for coins surged due to World War II, leading to high production numbers. Over 300 million dimes were minted across the Philadelphia, Denver, and San Francisco mints. Despite this high mintage, certain 1942 Mercury Dime variants are highly valuable due to their rarity or unique characteristics.
Why Some 1942 Mercury Dimes Are Worth Over $10,000
Certain factors, including mint errors, rarity, and special designations, drive the high value of specific 1942 Mercury Dimes. Here’s what collectors look for:
1. The 1942/1 Overdate Error
One of the most valuable variations is the 1942/1 overdate error, found in dimes from the Philadelphia and Denver mints. This error occurred when a 1941 die was re-punched with a 1942 date, creating a noticeable overlap of the “1” under the “2.” This rare mistake greatly increases the coin’s value, especially in high grades.
- Notable Sales: A Philadelphia-minted 1942/1 dime graded MS67 with a Full Bands designation sold for $108,000. Even in lower grades, 1942/1 dimes can fetch upwards of $6,000 based on their condition.
- Rarity of Denver Mint Versions: The 1942/1-D (Denver) overdate error is particularly rare, with fewer known examples, making it one of the most expensive dimes in American coin collecting.
2. Full Bands Designation
The “Full Bands” (F.B.) designation is a marker of quality that collectors highly value. On the reverse side of the Mercury Dime, Full Bands refers to the horizontal bands on the fasces being fully separated, which indicates a sharp and well-struck coin.
- Market Value: High-grade Full Bands dimes can be worth over $10,000. For example, a 1942-S Mercury Dime with an MS68 grade and Full Bands designation sold for $65,000.
- Grading Impact: Coins with the Full Bands distinction generally command higher prices, particularly in mint-state grades like MS67 or MS68.
Value of Regular 1942 Mercury Dimes
While certain rare 1942 dimes can be incredibly valuable, most 1942 Mercury Dimes are affordable, especially those without errors or Full Bands distinctions.
- Circulated Coins: Regular 1942 Mercury Dimes in circulated condition, due to their silver content, are typically worth $2 to $5.
- Uncirculated Coins: Uncirculated coins graded MS65 or higher can range from $20 to $600. Coins with Full Bands in these higher grades, however, can exceed this range.
| Coin Type | Grade | Estimated Value |
|---|---|---|
| 1942 Mercury Dime (Regular Issue) | MS63 | $20 |
| 1942 Mercury Dime (Regular Issue) | MS65 | $600 |
| 1942 Mercury Dime (Full Bands) | MS67 | $5,000 |
| 1942/1 Mercury Dime (Overdate) | MS67 FB | $108,000 |
| 1942-S Mercury Dime (Full Bands) | MS68 FB | $65,000 |
| 1942/1-D Mercury Dime (Overdate) | MS67 | $125,000 |
Key Factors Influencing the Value of 1942 Mercury Dimes
Several factors influence the value of 1942 Mercury Dimes, especially the rare ones:
- Mint Errors: Coins with minting errors, like the 1942/1 overdate, are highly desirable. These errors are unusual, making them prized by collectors.
- Condition and Grade: Higher-grade coins (MS or Mint State) tend to be more valuable, especially those with minimal wear. The Full Bands designation can further elevate the coin’s worth.
- Rarity: While most 1942 Mercury Dimes are common, rare variants like the 1942/1 and 1942/1-D overdates are scarce, leading to greater demand and higher prices.
The 1942 Mercury Dime represents an interesting piece of American history and remains popular among collectors. While most are affordable, certain variations and errors can fetch prices in the thousands, making it a worthwhile find for any collector.
What is the value of a 1942 Mercury Dime in average condition?
In circulated grades, a standard 1942 Mercury Dime is valued between $2 and $5, primarily based on its silver content.
How can I identify a 1942/1 overdate Mercury Dime?
The 1942/1 overdate error shows the “42” struck over “41,” creating a visible overlap. Coins with this error are rare and valuable, particularly in higher grades.
What does the Full Bands designation mean?
Full Bands (F.B.) refers to the fasces bands on the reverse side of the coin being fully separated, indicating a sharp strike. Coins with this designation, especially in high mint states, can be worth significantly more.
