As a seasoned US coin collecting expert, I'm excited to delve into the fascinating world of the 1939 Mercury dime. This iconic piece of American coinage holds a special place in numismatic history, and understanding its true worth can be both enlightening and potentially lucrative for collectors and investors alike.
A Brief History of the Mercury Dime
Before we explore the specifics of the 1939 issue, let's take a moment to appreciate the rich history of the Mercury dime:
- Designed by sculptor Adolph A. Weinman in 1916
- Officially named the "Winged Liberty Head" dime
- Minted from 1916 to 1945
- Replaced by the Roosevelt dime in 1946
The coin earned its popular nickname due to a widespread misinterpretation of Liberty's winged cap as the wings of the Roman god Mercury. This misconception stuck, and the coin has been affectionately known as the Mercury dime ever since.
The 1939 Mercury Dime: Key Specifications
Let's examine the essential details of the 1939 Mercury dime:
- Composition: 90% silver, 10% copper
- Weight: 2.5 grams
- Diameter: 17.9 mm
- Edge: Reeded
- Designer: Adolph A. Weinman
- Obverse: Winged Liberty (mistaken for Mercury)
- Reverse: Fasces with olive branch
Mintage Figures and Mint Marks
The 1939 dime was produced at three different mints:
- Philadelphia: 67,740,000 (no mint mark)
- Denver: 24,394,000 (D mint mark)
- San Francisco: 10,540,000 (S mint mark)
Additionally, 9,321 proof coins were struck in Philadelphia for collectors.
Factors Influencing the 1939 Dime's Value
Several key factors determine the value of a 1939 Mercury dime:
- Mint mark
- Condition (grade)
- Full Bands (FB) designation
- Errors and varieties
- Silver content
- Market demand
Let's examine each of these factors in detail.
Grading and Condition: The Sheldon Scale
The condition of a coin significantly impacts its value. Numismatists use the Sheldon Scale, ranging from 1 to 70, to grade coins:
- Circulated grades: Good (G-4) to About Uncirculated (AU-58)
- Uncirculated grades: Mint State (MS-60 to MS-70)
For 1939 Mercury dimes, even small differences in grade can lead to substantial price variations, especially in higher grades.
The Crucial Full Bands (FB) Designation
One of the most critical factors in determining a Mercury dime's value is the presence of "Full Bands" (FB) on the reverse:
- Refers to the completeness of the horizontal bands on the fasces
- Indicates a strong, well-struck coin
- Significantly increases value, especially in higher grades
To qualify for the FB designation, the central bands on the fasces must be fully separated and clearly defined.
Comprehensive 1939 Dime Value Guide
Let's break down the value of 1939 dimes by mint mark and condition:
1939 (Philadelphia) No Mint Mark
| Grade | Value Range |
|---|---|
| Good-4 | $2.82 – $3.00 |
| Fine-12 | $3.22 – $3.50 |
| VF-20 | $3.50 – $4.00 |
| EF-40 | $4.03 – $4.50 |
| AU-50 | $4.84 – $5.50 |
| MS-60 | $14 – $16 |
| MS-65 | $55 – $65 |
| MS-67 | $150 – $170 |
| MS-68 | $550 – $600 |
| MS-69 | $8,000 – $8,500 |
1939-D (Denver)
| Grade | Value Range |
|---|---|
| Good-4 | $2.82 – $3.00 |
| Fine-12 | $3.22 – $3.50 |
| VF-20 | $3.50 – $4.00 |
| EF-40 | $4.03 – $4.50 |
| AU-50 | $5.08 – $5.75 |
| MS-60 | $10 – $12 |
| MS-65 | $55 – $65 |
| MS-67 | $110 – $125 |
| MS-68 | $450 – $500 |
1939-S (San Francisco)
| Grade | Value Range |
|---|---|
| Good-4 | $2.82 – $3.00 |
| Fine-12 | $3.22 – $3.50 |
| VF-20 | $3.50 – $4.00 |
| EF-40 | $4.84 – $5.50 |
| AU-50 | $12 – $14 |
| MS-60 | $30 – $35 |
| MS-65 | $150 – $175 |
| MS-67 | $300 – $335 |
| MS-68 | $1,800 – $2,000 |
1939 Proof (Philadelphia)
| Grade | Value Range |
|---|---|
| PR-58 | $90 – $100 |
| PR-63 | $140 – $155 |
| PR-65 | $225 – $250 |
| PR-67 | $600 – $650 |
| PR-68 | $1,600 – $1,750 |
Full Bands Premium
Coins with the Full Bands (FB) designation command significantly higher prices:
1939 (Philadelphia) FB
| Grade | Value Range |
|---|---|
| MS-60 FB | $25 – $30 |
| MS-65 FB | $225 – $250 |
| MS-67 FB | $750 – $825 |
| MS-68 FB | $4,500 – $6,000 |
1939-D FB
| Grade | Value Range |
|---|---|
| MS-65 FB | $85 – $100 |
| MS-67 FB | $160 – $200 |
| MS-68 FB | $900 – $1,100 |
| MS-69 FB | $8,000 – $10,000 |
1939-S FB
| Grade | Value Range |
|---|---|
| MS-65 FB | $550 – $600 |
| MS-66 FB | $1,000 – $1,150 |
| MS-67 FB | $2,260 – $2,712 |
| MS-68 FB | $12,000 – $18,000 |
Rare Errors and Varieties
Errors and varieties can significantly increase a coin's value:
-
Re-punched Mint Mark (RPM): Particularly notable on 1939-D coins, valued at $20 to $25 in average condition.
-
Doubled Die Obverse (DDO): Visible doubling on the obverse, typically worth $40 to $50.
-
Cud Error: Irregular protrusions caused by die breaks, valued at $40 to $45 for prominent examples.
-
Off-Center Strikes: Coins struck off-center by 5% or more can fetch $50 to $100, depending on severity.
Record-Breaking Sales
Some exceptional 1939 Mercury dimes have achieved remarkable prices at auction:
- 1939-D MS-69 FB: $42,300 (Heritage Auctions, 2019)
- 1939 PR-68+ CAM: $21,600 (Stack's Bowers, 2021)
- 1939 MS-68 FB: $12,650 (Bowers and Merena, 2000)
- 1939-S MS-68 FB: $10,350 (Bowers and Merena, 2000)
These record prices demonstrate the potential value of high-grade specimens with the Full Bands designation.
Silver Content Value
As with all pre-1965 dimes, the 1939 Mercury dime contains 90% silver. Its melt value fluctuates with the silver market:
- Silver weight: 0.07234 troy ounces
- At $25/oz silver price: $1.81 melt value
- At $30/oz silver price: $2.17 melt value
While most 1939 dimes are worth more as collectibles, this silver content provides a minimum value floor.
Preservation and Storage Tips
To maintain the value of your 1939 Mercury dime:
- Handle coins by their edges, never touching the faces
- Store in non-PVC holders or albums
- Keep in a cool, dry environment with stable humidity
- Consider professional grading for valuable specimens
- Use cotton gloves when handling high-grade coins
- Avoid cleaning coins, as this can significantly reduce their value
Where to Buy and Sell 1939 Dimes
For buying or selling 1939 Mercury dimes, consider:
- Reputable coin dealers (local and online)
- Online marketplaces like eBay and Heritage Auctions
- Coin shows and exhibitions
- Auction houses for rare or high-value pieces
- American Numismatic Association (ANA) events and resources
Always research current market values and deal with trusted sources. For valuable coins, consider getting them certified by a reputable grading service like PCGS or NGC.
The Collector's Perspective
As a seasoned collector, I can attest to the enduring appeal of the 1939 Mercury dime. Its historical significance, artistic design, and potential for hidden treasures make it a favorite among numismatists of all levels.
For beginners, the 1939 dime offers an accessible entry point into the world of coin collecting. Its relatively high mintage means that circulated examples are readily available and affordable. As collectors gain experience, they can pursue higher-grade specimens, Full Bands examples, and rare varieties.
Advanced collectors often focus on assembling complete sets of Mercury dimes in the highest possible grades. The 1939 issues, while not the rarest in the series, can still present a challenge when seeking pristine, Full Bands examples.
Investment Potential
From an investment standpoint, the 1939 Mercury dime offers several advantages:
- Tangible Asset: Unlike stocks or bonds, coins are physical assets you can hold in your hand.
- Historical Value: As a piece of American history, the 1939 dime has inherent cultural significance.
- Precious Metal Content: The silver content provides a baseline value that tends to appreciate over time.
- Potential for Discovery: There's always the possibility of finding a rare variety or high-grade specimen in circulation or an unsorted lot.
However, as with any investment, it's crucial to do thorough research and consider seeking advice from experienced numismatists or financial advisors.
Conclusion: Unlocking the Value of Your 1939 Mercury Dime
The 1939 Mercury dime is more than just a piece of currency; it's a window into American history, art, and craftsmanship. Whether you're a seasoned collector or a curious newcomer, understanding the factors that influence its value can help you appreciate these coins on a deeper level.
While most 1939 dimes are worth several times their face value due to silver content and historical significance, some can be true numismatic treasures. The key to unlocking your coin's potential lies in careful examination, accurate grading, and an understanding of the market.
As you explore the world of 1939 Mercury dimes, remember that each coin tells a story – of America's past, of meticulous craftsmanship, and perhaps of hidden value waiting to be discovered. Whether you're building a collection, making an investment, or simply appreciating a piece of history, the 1939 Mercury dime offers a rich and rewarding numismatic experience.
