The 1934 Mercury Dime is a historic coin that holds significant value on the open collectors’ market. If you are thinking of venturing into the world of coin collecting, this may be a great first coin to add to your collection.
In this article, we will provide you with a complete guide on everything you need to know before entering the world of coin collecting.
Remember that the world of collecting is very vast and the information that you must handle is very varied to understand the real value of an old coin. We hope that with this guide it will be easier for you to venture into the fascinating world of coin collecting.
1934 Mercury Dime Details
- Category: Mercury Dimes (1916-1945)
- Mint: Philadelphia, Denver
- Mintage: 30,852,000
- Obverse Designer: Adolph A. Weinman
- Reverse Designer: Adolph A. Weinman
- Composition: 90% Silver, 10% Copper
- Fineness: 0.9
- Weight: 2.5g
- ASW: 0.0723oz
- Melt Value: $1.60 (2/11/2023)
- Diameter: 17.8mm
- Edge: Reed
The coin is nicknamed the Mercury Dime because they mistook the main image for that of the Roman god Mercury. This is due to the Phrygian cap with wings on the sides, a very particular element of the Roman god.
But the truth is that the image is that of Lady Liberty with a hat of Etruscan origin, widely used by the people of Eastern Europe and in the entire area of what is now the Balkans.
The Phrygian cap was a badge worn by all freed slaves. It was thought that the hat was the representation of freedom and the element of the wings was added because it wanted to symbolize freedom of thought, however, people ended up relating it to Mercury.
The Mercury Dime was not minted for a couple of years, while the United States was experiencing great economic problems. But in 1934 they were ordered to be minted again.
However, this production was modest and not as many dimes were printed as was customary. In total, 30,852,000 coins were minted in two mints. The Philadelphia and Denver mints.
Observe side
The obverse of the coin features Lady Liberty with a winged cap as the main character. The real name of this coin is Winged Liberty Dime, but as has often happened with many coins, the population is the one who determines the name and with which elements to relate the minted coins.
The Phrygian cap, which has nothing to do with American culture, but is a symbol of the abolition of slavery in Roman times, represents freedom of thought, encouraging education and intellectual training. He also supports the idea of the United States as a state where one has freedom of thought and action.
The image of Lady Liberty with the Phrygian cap had already been criticized before. The Indian Head Cent had been styled with an American feather headdress to replace the Phrygian cap symbol which always looked a bit alienated.
The same thing happened with the Indian Head Penny as with the Mercury Dime, people gave their nicknames and interpretation. It is curious since the Indian Head and the Mercury Dime have in their names someone who is not the protagonist of the coin. The image of Lady Liberty has always been on the two coins, although people have not always recognized it.
The obverse has the words LIBERTY at the top of the coin and the phrase IN GOD WE TRUST at the bottom left. On the lower right side is the year of minting of the coin.
Reverse side
The reverse of the coin has a fasces as the protagonist. A fasces is an element that was seen a lot on Roman shields. The design of this coin took several elements from the Roman civilization since the image represents the power and jurisdiction of a magistrate.
The symbol of a fasces consists of a cluster of tied wooden sticks. It looks like or can be confused with a Roman column. Although the symbol many times appears with an ax on top.
This is the case with the image on the dime. The ax is on the left side and the entire image is decorated with olive branches that represent peace.
Around the coin, we have two phrases at the top UNITED STATES OF AMERICA, and at the bottom ONE DIME. The two sentences are separated by a star from each other and each word is separated by a point.
Finally, the word E PLURIBUS UNUM is located in the lower right part and means: one of many. It is a very common motto on all US coins.
This coin was made at two mints. The Denver and Philadelphia mints. If you want to find the mint mark, you should look on the reverse, just below the olive branch, after the word ONE ends, on the left side of the coin.
Also Read: Top 15 Most Valuable Indian Head Penny Worth Money
1934 Mercury Dime Value Chart
| Quality | 1945 Mercury Dime (Philadelphia) | 1945 D Mercury Dime (Denver) |
| Good | $1.97 | $1.97 |
| Very Good | $2.54 | $2.54 |
| Fine | $3.08 | $3.08 |
| Very Fine | $3.19 | $3.19 |
| Extra Fine | $8.31 | $8.31 |
| Uncirculated | $14 | $39 |
| MS 60 | $28 | $67 |
| MS65 | $56 | $94 |
1934 Mercury Dime Value and Varieties Guide
Mercury Dime had been discontinued for a few years. In 1930 and 1931, its production was reduced as a result of the Great Depression. After two years, production was completely halted, and in 1934 it was timidly revived.
Little over 30 million coins were minted and only two minting houses were used. Usually, the work was divided between Philadelphia, San Francisco, and Denver, but this time it was only minted in Philadelphia and Denver.
These coins are composed of 90% silver and 10% copper and are decorated with reed edges, just like the other dimes that preceded them.
Although Mercury Dimes are coins that were made flawlessly on their die, the tumultuous years in which they were minted led to several anomalies in their production. That’s why Mercury Dimes have so sought after.
Some dimes are indeed more important in specific years, but the 1934 coin has a lot of historical value and also contains errors, which we will look at in greater detail later.
1934 Mercury Dime (Philadelphia)
- Category: Mercury Dimes (1916-1945)
- Mint: Philadelphia
- Mintage: 24,080,000
- Obverse Designer: Adolph A. Weinman
- Reverse Designer: Adolph A. Weinman
- Composition: 90% Silver, 10% Copper
- Fineness: 0.9
- Weight: 2.5g
- ASW: 0.0723oz
- Melt Value: $1.51 (2/26/2023)
- Diameter: 17.8mm
- Edge: Reeded
The Philadelphia mint struck 24,080,000 coins in 1934. It was a small production compared to other years, but we must remember that the dime was discontinued.
This means that there are not many copies on the collector’s market, making this coin a great addition to any collection.
The coins minted in Philadelphia do not have any distinguishing mint marks. They can be worth from 2 to 8 dollars in acceptable conditions. If you manage to get an uncirculated coin, the sum of money will only amount to 14 or 15 dollars. But gem-quality coins can cost anywhere from $30 to $60.
They are ideal coins for people who want to venture into the world of collecting and get a good coin for their collection.
The price is reasonable and very accessible for people who do not have a large budget and want to start their collection.
1934 D Mercury Dime (Denver)
- Category: Mercury Dimes (1916-1945)
- Mint: Denver
- Mintage: 6, 772, 000
- Obverse Designer: Adolph A. Weinman
- Reverse Designer: Adolph A. Weinman
- Composition: 90% Silver, 10% Copper
- Fineness: 0.9
- Weight: 2.5g
- ASW: 0.0723oz
- Melt Value: $1.60 (2/11/2023)
- Diameter: 17.8mm
- Edge: Reed
The Denver Mint minted a total of 6,772,000 coins in 1934. The number of coins produced is much less than the number of the Philadelphia mint, which had to bear more than a third of the production.
This makes the Denver coin much more valuable than the Philadelphia one since very few copies have been preserved to this day.
Coins that have been in circulation and are in good to extra fine condition cost the same, but uncirculated or gem-quality coins start to skyrocket in price when compared to those that come from Philadelphia.
An uncirculated coin, for example, costs 40 dollars, while those of Philadelphia barely reach 15 dollars.
An MS 65 coin can sell for about $10, but on the open market prices can go up to a few hundred dollars more.
Coins minted in Denver have a D as the mint mark. Some have been struck with a larger D than others, but that doesn’t add any value to the coin.
Also Read: Top 15 Most Valuable Roosevelt Dimes Worth Money
1934 Mercury Dime History
The dime was not without controversy before it arose. Charles Barber was the Mint’s chief engraver and for many years presented his designs. He was also accused of holding a public contest with little interest for artists and thus having a free way to submit his designs.
However, with this coin, the story was different, despite the fact that Barber presented his designs, the mint house ended up choosing the artist Adolph Weinman.
Weinman proposed the Mercury Dime as a currency that encouraged citizens to think freely and critically. However, its coin was not completely widespread and it was always associated with the Roman symbols it presented, proof of this is the coin’s nickname: Mercury Dime.
It is said that he used the face of a neighbor to make the design of Lady Liberty. The stories were never confirmed but after many years, the daughter of Elsie Stevens, the alleged model for the coin, confirmed that her mother had told her many times that she was the model for the coin.
This coin was very successful and remained in circulation for more than 25 years. It stopped being minted in 1946 when it gave way to a new dime with the face of former President Roosevelt and was one of the last coins that did not use public people in its designs.
It was a custom of the United States not to mint the faces of public persons so as not to resemble the monarchies from which they had become independent.
1934 Mercury Dime Grading
To help you on the path to becoming a coin expert, you should know that there are several grades and that prices will be greatly affected depending on the grade your coin has.
If your coin has not been in circulation and is of gem quality, the price will be very high. To help you distinguish the grade of your coin, we leave you a video so that you understand all the particularities of the 1934 Mercury Dime.
List of 1934 Mercury Dime Errors
The 1934 Mercury Dime didn’t have any notable quirks or flaws, but all Mercury Dimes have a small flaw in their production. Many of these coins do not have a 100% printed reverse.
Fasces are bundles of sticks or wooden bars on the reverse of the coin. On some coins, the bands that tie the sticks together are not entirely clear.
That is why this fully banded coin has a different value. Full-banded coins can sell for up to thousands of dollars.
So check your currency well. In general, the band in the middle is the one that does not present a separation. But if yours has all the bands separated and very well distinguished, then this is good news, since your coin can become very valuable if it is well cared for.
1934 Mercury Dime FAQ
Is a 1934 Mercury Dime worth anything?
Mercury Dimes from 1934 can be worth between 2 and 15 dollars depending on the quality with which they are preserved. But gem specimens on the open market can be worth as much as $1,000
What’s so special about a mercury dime?
Mercury dimes are very valuable coins that have been in print for many years. Many of them have unique flaws, such as missing full bands, making them highly prized and sought after on the collector’s market.