1938

By 1938, the Mercury Dime had been in circulation for 22 years and was a familiar sight in American pockets. The Great Depression was easing, and dime production at the main mint reflected a modest but steady demand for small change. Philadelphia struck 22,198,734 pieces that year, a figure that sits in the middle range for the series and well below the massive output of the early 1940s war years. Coins from this date entered everyday commerce immediately, paying for newspapers, streetcar fares, and lunch counter sandwiches across the country. Most surviving examples show moderate to heavy wear because they circulated for decades before collectors began systematically pulling silver dimes from change in the mid-1960s.

Adolph A. Weinman designed the dime in 1916, placing a youthful Liberty wearing a winged Phrygian cap on the obverse and a fasces flanked by an olive branch on the reverse. The composition is 90% silver and 10% copper, weighing 2.5 grams on a 17.9 mm planchet with a reeded edge. Authenticators check the date placement, the sharpness of Liberty's hair details under the wing, and the diagonal bands wrapping the fasces. The Full Bands (FB) designation from PCGS and NGC requires the two horizontal bands across the middle of the fasces to be fully separated and complete from end to end. A 1938 with strong Full Bands commands a meaningful premium over a typical strike, since central strike weakness is common on this date.

The 1938 is readily available in circulated grades and through Mint State 65, with prices climbing steeply at MS-66 Full Bands and above. Heritage Auctions has recorded multiple Gem examples crossing into four-figure territory when the bands are crisp. Collectors building a date and mintmark set find this issue an easy slot, though paying attention to strike quality pays off. For broader background, see the Mercury Dime series history.