The 1938-D Mercury Dime is worth anywhere from $3 in worn condition to over $500 in pristine mint state. If you have recently discovered one of these beautiful “Winged Liberty Head” dimes in an old jar or collection, you are holding a classic piece of American history that collectors still highly prize today.
Historical Significance and Mintage of the 1938-D Mercury Dime
The 1938-D Mercury Dime was struck at the Denver Mint during a time when the United States was slowly emerging from the Great Depression. Unlike the early 1930s, when production was low, the 1938 production run was relatively robust, with over 5.5 million coins struck in Denver. This makes the coin accessible for everyday collectors, yet scarce enough in high grades to maintain solid value. If you are unsure if your coin is authentic or wish to check other dates, using a free coin identifier app can help you quickly confirm the specifics of your find.
The design itself is a masterpiece by Adolph A. Weinman. While many people think it depicts the Roman god Mercury, it actually features Lady Liberty wearing a winged Phrygian cap, symbolizing freedom of thought. On the reverse, you will find the Roman fasces with an olive branch, signifying America’s readiness for war but desire for peace. When you use the CoinHix app, you can see detailed high-resolution images of these designs to compare with your own coin.
How Much Is a 1938-D Mercury Dime Worth Today
The market value of a 1938-D Mercury Dime is primarily dictated by its “grade” or state of preservation. Most coins found in change today are “Circulated,” meaning they have visible wear on Liberty’s hair and the feathers of her cap. Even in these lower grades, the silver content alone gives the coin a baseline value significantly higher than its ten-cent face value. Currently, the 1938 dime value guide indicates that even heavily worn specimens are worth several dollars.
For those lucky enough to find a coin that looks like it just came from the bank, the rewards are much higher. Collectors look for “Full Bands” (FB) on the reverse fasces. If the horizontal lines across the bundle of sticks are crisp and fully separated, the coin can command a huge premium. You can check the latest 1938-D Mercury Dime numismatic market price to see how “Full Band” designations affect the total value.
| Condition / Grade | Estimated Value (USD) |
|---|---|
| Good (G-4) to Very Good (VG-8) | $3.00 – $4.50 |
| Fine (F-12) to Very Fine (VF-20) | $5.00 – $8.00 |
| Extremely Fine (EF-40) | $12.00 – $15.00 |
| Uncirculated (MS-63) | $35.00 – $50.00 |
| Mint State Premium (MS-65+) | $125.00 – $550.00+ |
Identifying the Denver Mint Mark and Key Features
To ensure you have a 1938-D, you must look for the “D” mint mark. On the Mercury Dime, this is located on the reverse side (back), near the bottom left, just to the left of the base of the fasces. If there is no letter there, the coin was minted in Philadelphia. If there is an “S,” it was minted in San Francisco. The 1938-D is particularly popular because it is generally better struck than the San Francisco versions of the same year.
To get an accurate assessment of these tiny details, the CoinHix mobile application allows you to take a photo of your coin and instantly identify its origin. Understanding the difference between a common Philadelphia strike and a Denver strike is crucial for determining the final 1938-D Mercury Dime value. Always handle your coins by the edges to avoid leaving fingerprints, which can ruin the delicate silver surface of an uncirculated coin and lower its worth.
The Importance of Silver Content in Older Dimes
Aside from its collectible value, the 1938-D Mercury Dime is made of 90% silver and 10% copper. This means that even if the coin is so worn that the date is barely visible, it still possesses “melt value.” Since there is approximately 0.07234 troy ounces of pure silver in each dime, the price fluctuates based on the daily silver market. Even in the worst possible shape, these coins usually sell for at least 15 to 20 times their face value just for the metal content alone.
When you are sorting through old change, it is helpful to have a tool like CoinHix to keep track of your inventory and the current metal prices. While most people hope for a rare variety or a high-grade gem, knowing you have a solid silver asset is a great feeling for any casual hobbyist. If your coin is shiny, has few scratches, and shows the distinct “D” mark, you could be looking at a piece worth significantly more than its weight in silver.
FAQ
Q: Where is the mint mark on a 1938-D Mercury Dime?
A: The “D” mint mark is located on the reverse of the coin. Look at the bottom left, near the rim, specifically to the left of the bundle of sticks (fasces).
Q: Is a 1938-D Mercury Dime made of real silver?
A: Yes, all Mercury Dimes minted between 1916 and 1945 are composed of 90% silver and 10% copper.
Q: How can I tell if my 1938 dime is in “Mint State”?
A: A Mint State coin will have no signs of wear on the high points of the design, such as Liberty’s hair or the wing feathers. It should also retain its original “luster,” which is the frosty sheen created when the coin was first struck.
