What is the value of a 1938 Mercury dime?

Answer 1

1938 is not a rare date for Mercury dimes. In lower grades its value is mostly determined by the silver it contains, about 0.072 troy oz.

Look on the back of the coin to see if there's a small mint mark letter next to the E in ONE. It may be blank or there may be a D or S. (The W on the front of the coin is the designer's monogram and not a mint mark; more below)

Numismedia lists the following approximate retail values as of 03/2012:

With average wear, regardless of mint mark: $4

No mint mark (Philadelphia):

Almost no wear - $7

Uncirculated - $11 to $350 depending on quality

"D" mint mark (Denver):

Slightly worn - $5

Almost no wear - $10

Uncirculated - $17 to $225

"S" mint mark (San Francisco):

Almost no wear - $8

Uncirculated - $18 to $690

DISCLAIMER: The retail values quoted are the best available as of the date shown, but may vary significantly due to changes in the precious metals market. Also the wholesale (buying) price of a coin will be less than the selling (retail) price. A reputable coin dealer will be able to give a more accurate valuation based on inspection of the coin.

The W "mint mark"Many people are confused by the W on the front of Mercury dimes. It's the initial of the coin's designer, A. A. Weinman and does NOT stand for the West Point Mint. West Point didn't start striking coins until the 1980s and in any case the mint mark was located on the back side of most US Coins prior to 1968.