Introduction
For coin collectors and history enthusiasts alike, the Mercury dime series holds a special place in the annals of American numismatics. Struck from 1916 to 1945, these beloved 90% silver coins showcase the remarkable artistry of acclaimed sculptor Adolph A. Weinman and serve as tangible reminders of a pivotal era in U.S. history. Among the series‘ later issues, the 1942 Mercury dime stands out for its substantial mintages, intriguing varieties, and enduring popularity with collectors. In this comprehensive guide, we‘ll delve into the 1942 Mercury dime from a collector‘s perspective, exploring its value, rarity, history, and tips for building a high-quality set.
Historical Context
To fully appreciate the 1942 Mercury dime, it‘s essential to understand its place within the broader historical context of U.S. coinage. In 1916, the U.S. Mint embarked on a significant redesign of the nation‘s silver denominations, seeking to replace the staid Barber designs that had been in use since 1892. For the dime, Mint officials commissioned Adolph A. Weinman, a renowned sculptor and student of the legendary Augustus Saint-Gaudens.
Weinman‘s design, featuring a youthful Liberty wearing a winged cap, was a radical departure from previous dime motifs. Its striking beauty and modern sensibility quickly captured the public‘s imagination, even as the Wing Liberty cap‘s resemblance to the Roman god Mercury led to the coin‘s enduring nickname: the "Mercury" dime.
The World War II Era
By 1942, the United States had entered World War II, and the Mercury dime played a vital role in the nation‘s wartime economy. The Philadelphia, Denver, and San Francisco Mints worked overtime to meet the increased demand for coinage, striking Mercury dimes in record numbers. The 1942 issues alone accounted for over 315 million dimes, making them among the most abundant in the series:
| Mint | Mintage |
|---|---|
| P | 205,410,000 |
| D | 60,740,000 |
| S | 49,300,000 |
These substantial mintages ensured that the 1942 Mercury dime would remain plentiful in circulation for decades to come, even as collectors began to appreciate the issue‘s numismatic significance.
Key Features and Varieties
Regular Issues
The regular 1942 Mercury dimes from the Philadelphia, Denver, and San Francisco Mints share the same basic design elements. The obverse features a left-facing portrait of Liberty wearing a winged cap, surrounded by the inscriptions "LIBERTY" and "IN GOD WE TRUST," with the date below. The reverse depicts a fasces symbolizing unity and strength, with an olive branch signifying peace, flanked by the legends "UNITED STATES OF AMERICA" and "ONE DIME." The Denver and San Francisco issues include a small "D" or "S" mintmark above the fasces, while the Philadelphia coins lack a mintmark.
Full Bands (FB) Designation
Among regular issue 1942 Mercury dimes, those with fully separated horizontal bands on the reverse fasces are highly prized by collectors. Designated as "Full Bands" (FB) by third-party grading services like PCGS and NGC, these coins exhibit exceptional strike quality and visual appeal. Because the reverse bands are opposite the highest points of relief on the obverse, they often lack full definition, making FB examples true condition rarities.
Overdates: 1942/1 and 1942/1-D
The most notable varieties in the 1942 Mercury dime series are the extremely rare 1942/1 and 1942/1-D overdates. These errors occurred when two obverse dies from 1941 were repunched with a 1942 date and pressed into service. The result is a clear "42" over "41" overdate visible on the coins. With only a handful of examples known for each variety, the 1942/1 and 1942/1-D rank among the most valuable and sought-after Mercury dimes.
Proof Issues
In addition to the circulation strikes, the Philadelphia Mint produced 22,329 proof Mercury dimes in 1942 for sale to collectors. These specially prepared coins exhibit mirrorlike fields, frosted devices, and exceptional strike quality. While more available than the overdates, the 1942 proof issue is still scarce in gem condition and commands significant premiums over regular issues.
Value and Rarity
As a collector, understanding the value and rarity of the 1942 Mercury dime is essential for building a high-quality set. The following table provides a comprehensive breakdown of representative values for regular issue coins in various grades, along with FB and proof examples:
| Grade | 1942 | 1942-D | 1942-S | 1942 FB | 1942-D FB | 1942-S FB | 1942 Proof |
|---|---|---|---|---|---|---|---|
| Good-4 | $2.50 | $2.50 | $2.50 | N/A | N/A | N/A | N/A |
| VF-20 | $3.50 | $3.50 | $3.50 | N/A | N/A | N/A | N/A |
| AU-50 | $5.00 | $5.25 | $5.50 | N/A | N/A | N/A | N/A |
| MS-63 | $20 | $22 | $25 | $40 | $45 | $50 | $500 |
| MS-65 | $32 | $35 | $40 | $125 | $150 | $175 | $600 |
| MS-67 | $325 | $600 | $1,000 | $5,000 | $8,000 | $25,000 | $1,250 |
| MS-68 | $2,000 | $4,500 | $10,000 | $30,000 | $50,000 | $100,000+ | $7,500 |
As the table illustrates, the value of a 1942 Mercury dime can vary widely based on its condition, mintmark, and strike quality. While circulated examples trade near their bullion value, gem uncirculated coins command significant premiums, especially with the coveted FB designation. The 1942-S FB dime, with its lower mintage and superior striking characteristics, is particularly scarce in the highest grades, with the finest known example, a PCGS MS68+FB, realizing $64,625 at auction in 2021.
Overdates and Auction Records
For the 1942/1 and 1942/1-D overdates, rarity and desirability drive astronomical values. The 1942/1, with an estimated mintage of just 10,000 to 15,000 pieces, is a major rarity in any grade. The finest known, a PCGS MS67FB example, sold for $108,000 in 2019, while even well-worn pieces can bring over $3,000. The 1942/1-D is even rarer, with only 5 confirmed examples known. The most recent sale was a PCGS AG3 that brought $73,438 in 2016, and any 1942/1-D would likely command a six-figure sum today.
Collecting Strategies
Building a High-Grade Set
For collectors seeking to assemble a top-quality set of 1942 Mercury dimes, focusing on certified examples in MS-65 or better condition is essential. Look for coins with strong luster, minimal marks, and well-struck devices, particularly on the reverse fasces. FB examples are worth the premium for their exceptional eye appeal and rarity.
When buying high-grade 1942 Mercury dimes, stick with PCGS- or NGC-certified coins from reputable dealers. Be wary of any uncertified coins advertised as FB, as these may have been artificially enhanced to simulate the designation. Study the grading standards carefully, and don‘t hesitate to ask for additional photos or opinions before making a significant purchase.
The Mercury Dime Short Set
For collectors on a budget, or those seeking a more attainable goal, the Mercury Dime Short Set is an excellent option. This approach focuses on the series‘ final five years, from 1941 to 1945, when the Philadelphia, Denver, and San Francisco Mints all struck Mercury dimes. A complete Short Set includes 15 coins, with the 1942 issues serving as an affordable anchor.
When building a Short Set, aim for coins in the MS-63 to MS-65 range, with an emphasis on eye appeal and originality. Look for sets with matched toning, consistent luster, and minimal distractions. A high-quality 1942 Mercury Dime Short Set can be assembled for under $1,000, making it an ideal entry point for new collectors or those with limited budgets.
Cherrypicking Circulated Coins
For collectors who enjoy the thrill of the hunt, cherrypicking circulated 1942 Mercury dimes can be a rewarding pursuit. While these coins are abundant in lower grades, finding problem-free examples with original surfaces and strong details is a challenge.
When searching through junk silver lots or albums, look for 1942 dimes with even wear, minimal marks or damage, and attractive toning. Pay close attention to the reverse fasces, as even lightly circulated coins can show partial band separation, adding to their appeal. Don‘t overlook the 1942-S issue, as its lower mintage and superior striking characteristics make it a prime candidate for cherrypicking.
Appreciating the Artistry
Beyond their numismatic value, the 1942 Mercury dimes are truly miniature works of art that showcase the skill and vision of designer Adolph A. Weinman. Born in Germany in 1870, Weinman immigrated to the United States as a teenager and studied under the renowned sculptor Augustus Saint-Gaudens. By the time he was commissioned to design the Mercury dime in 1916, Weinman had already established himself as a leading figure in American sculpture, with major works including the iconic "Union Soldiers and Sailors Monument" in Baltimore and the grand facade of the Morgan Library in New York City.
Weinman‘s design for the Mercury dime is a testament to his artistic genius and mastery of classical form. The obverse portrait of Liberty, with her intricate winged cap and flowing hair, is a study in grace and movement, while the reverse fasces and olive branch symbolize the nation‘s strength and commitment to peace. The interplay of texture and relief, from the delicate feathers on Liberty‘s cap to the crisp lines of the fasces rods, demonstrates Weinman‘s keen eye for detail and ability to create a compelling composition on a small canvas.
As you hold a 1942 Mercury dime in your hand, take a moment to appreciate the artistry and craftsmanship that went into its creation. Imagine Weinman carefully sculpting the original plaster models, meticulously refining each element until it met his exacting standards. Picture the skilled engravers at the U.S. Mint, painstakingly transferring Weinman‘s vision onto steel dies, ensuring that every detail was faithfully reproduced. Finally, consider the massive presses that struck these coins, imparting the designs onto silver planchets at a rate of over 100 per minute, day after day, to meet the needs of a nation at war.
Conclusion
The 1942 Mercury dime is a fascinating and rewarding issue for collectors of all levels. With its rich history, stunning design, and wide range of collecting opportunities, it offers something for everyone from the novice to the seasoned numismatist. Whether you‘re drawn to the challenge of assembling a high-grade set, the thrill of cherrypicking circulated coins, or the satisfaction of owning a piece of American art, the 1942 Mercury dime is a worthy addition to any collection.
As you embark on your journey with this iconic coin, remember to approach it with a spirit of curiosity, patience, and appreciation. Study the subtle variations in strike quality, surface preservation, and toning that make each example unique. Seek out the knowledge and guidance of experienced collectors and dealers, and never stop learning about the fascinating history and nuances of the series.
Above all, enjoy the process of building your collection and the sense of connection it brings to a bygone era. The 1942 Mercury dime is more than just a piece of silver; it‘s a tangible link to a pivotal moment in American history, a testament to the enduring power of artistic expression, and a reminder of the shared values that unite us as a nation. By preserving and cherishing these coins, we not only honor the past but also create a legacy for future generations of collectors to enjoy and appreciate.
