At a Glance: 1940s Dime Value
- All 1940s dimes contain 90% silver (0.0723 oz per coin) — today’s melt value is approximately $5.26
- The decade spans two designs: Mercury dimes (1940–1945) and Roosevelt dimes (1946–1949)
- 1945 is the last Mercury dime; 1946 is the first Roosevelt dime — both carry type-transition premiums
- Full Bands (Mercury) and Full Torch (Roosevelt) designations double or triple value in uncirculated grades
- The 1942/1 overdate is the decade’s biggest variety and is worth $500–$2,500+ depending on grade
- All struck at three mints: Philadelphia (no mint mark), Denver (D), San Francisco (S)
Why 1940s Dimes Are Special
The 1940s is the only decade in American dime history that produced two entirely different designs. Adolph Weinman’s Winged Liberty Head — the Mercury dime — ran from 1916 through 1945. Within months of FDR’s death in April 1945, the Treasury commissioned John R. Sinnock’s Roosevelt dime, which debuted January 1946.
Collectors building either series meet in this decade. Mercury collectors need 1940–1945, Roosevelt collectors need 1946–1949, and decade-set builders need all thirty mint/year combinations.
Unlike 1940s pennies, which underwent wartime composition changes from copper to steel to shell casings, dimes stayed 90% silver throughout. Same weight, same silver content, completely different coin.
1940s Dime Values by Year
In circulated condition, most 1940s dimes trade near their silver melt value of approximately $5.26. For detailed breakdowns, see individual year guides linked below.
Complete 1940s Dime Value Chart
| Year | Mint | MS-60 | MS-65 FB/FT | Key Notes |
|---|---|---|---|---|
| 1940 | P | $10 | $32 | Final pre-war Mercury year |
| 1940 | D | $14 | $38 | — |
| 1940 | S | $16 | $85 | FB scarce from S-mint |
| 1941 | P | $9 | $28 | 175M struck at Philadelphia |
| 1941 | D | $12 | $42 | — |
| 1941 | S | $15 | $75 | Doubled die obverse varieties |
| 1942 | P | $9 | $26 | 1942/1 overdate exists |
| 1942 | D | $12 | $36 | — |
| 1942 | S | $14 | $135 | FB very scarce |
| 1943 | P | $9 | $25 | — |
| 1943 | D | $11 | $35 | Repunched mint mark (FS-501) |
| 1943 | S | $12 | $65 | — |
| 1944 | P | $9 | $24 | Highest mintage Mercury year |
| 1944 | D | $11 | $30 | RPM varieties exist |
| 1944 | S | $12 | $42 | — |
| 1945 | P | $10 | $26 | Last Mercury dime |
| 1945 | D | $11 | $32 | — |
| 1945 | S | $14 | $55 | Micro S variety — 20–50% premium |
| 1946 | P | $8 | $22 FT | First Roosevelt dime |
| 1946 | D | $9 | $25 FT | — |
| 1946 | S | $10 | $28 FT | RPM variety exists |
| 1947 | P | $8 | $20 FT | — |
| 1947 | D | $9 | $22 FT | — |
| 1947 | S | $10 | $28 FT | Lower mintage S-mint |
| 1948 | P | $8 | $20 FT | — |
| 1948 | D | $9 | $22 FT | — |
| 1948 | S | $10 | $30 FT | — |
| 1949 | P | $12 | $30 FT | Lower mintage — semi-key |
| 1949 | D | $14 | $35 FT | — |
| 1949 | S | $22 | $65 FT | Lowest mintage 1940s dime (13.5M) |
Values from PCGS, NGC, and recent Heritage Auctions data. All 1940s dimes contain 0.0723 oz silver — check the today’s silver spot price for the current melt value.
The Two Designs: Mercury vs. Roosevelt
Mercury Dimes (1940–1945)
Weinman’s obverse depicts Liberty in a winged cap (symbolizing freedom of thought — the Mercury nickname is a misnomer that stuck). The reverse shows a fasces wrapped with an olive branch.
The key grading feature is Full Bands (FB) — completely separated horizontal bands on the reverse fasces. Weak strikes blur these bands together. FB coins command 40–150% premiums over non-FB examples at the same grade.
Roosevelt Dimes (1946–1949)
Sinnock’s design debuted January 30, 1946 — what would have been FDR’s 64th birthday. The reverse features a torch flanked by olive and oak branches.
The premium designation is Full Torch (FT) — sharp separation on the horizontal bands crossing the torch on the reverse. Mint mark location for 1946–1964 Roosevelt dimes: reverse, near the torch base (moves to obverse after 1968).
Composition (Same All Decade)
- Composition: 90% silver, 10% copper
- Weight: 2.50 grams
- Diameter: 17.9 mm
- Silver content: 0.0723 troy ounces per coin
- Edge: Reeded
- Current melt value: approximately $5.26
Compare 90% silver coin pricing across dealers for the lowest premium on constitutional silver dimes.
Most Valuable 1940s Dime Varieties & Errors
1942/1 Mercury Dime Overdate — Up to $25,000+
A 1941-dated die was repurposed by punching “2” over the “1,” leaving visible traces of the underlying digit. Philadelphia mint only. Two die states exist: the strong overdate is visible at a glance; the weak overdate requires magnification.
| Grade | Strong Overdate | Weak Overdate |
|---|---|---|
| G-4 | $500–$700 | $350–$500 |
| F-12 | $800–$1,200 | $600–$800 |
| VF-20 | $1,200–$1,800 | $800–$1,200 |
| EF-40 | $2,000–$3,500 | $1,500–$2,500 |
| MS-63 | $8,000–$12,000 | $5,000–$8,000 |
| MS-65 FB | $15,000–$25,000+ | $10,000–$18,000 |
Authentication essential — counterfeits exist. See 1942 dime value guide for full coverage.
1943-D Repunched Mint Mark (FS-501)
The Denver “D” shows doubled or tripled punching visible under 5x magnification. Premiums of $20–$400+ depending on grade. See 1943 dime values.
1945-S Micro S Variety
A noticeably smaller mint mark — roughly half the normal “S” punch size. Commands 20–50% premium in higher grades. See 1945 dime values.
1946-S Repunched Mint Mark
Evidence of repunching on the “S.” Less dramatic than 1943-D RPM but collectible. See 1946 dime values.
Other Notable Varieties
1941 doubled die obverse varieties across multiple die pairs. 1944-D RPM varieties. Off-center strikes (10–20%) sell for $75–$200. Wrong-planchet errors (dime on cent planchet) are worth $1,000+ when authenticated.
Silver Content & Melt Value
Every 1940s dime contains 0.0723 troy ounces of pure silver — approximately $5.26 melt value at current spot. This is the hard price floor: no 1940s dime will ever trade below its silver content.
For stackers buying by weight:
- $1 face value (10 dimes) = 0.723 oz silver
- $10 face value (100 dimes) = 7.23 oz silver
- $100 face value (1,000 dimes) = 72.3 oz silver
Circulated 1940s dimes trade near melt, making them efficient for accumulating constitutional silver. Calculate exact value with the silver coin melt values calculator or check the live silver spot price. Compare 90% silver coins closest to spot across dealers.
1940s Dime Mintage Figures
| Year | Philadelphia | Denver | San Francisco | Total |
|---|---|---|---|---|
| 1940 | 65,350,000 | 21,198,000 | 21,560,000 | 108,108,000 |
| 1941 | 175,090,000 | 45,634,000 | 43,090,000 | 263,814,000 |
| 1942 | 205,410,000 | 60,740,000 | 49,300,000 | 315,450,000 |
| 1943 | 191,710,000 | 71,949,000 | 60,400,000 | 324,059,000 |
| 1944 | 231,410,000 | 62,224,000 | 49,490,000 | 343,124,000 |
| 1945 | 159,130,000 | 40,245,000 | 41,920,000 | 241,295,000 |
| 1946 | 255,250,000 | 61,043,500 | 27,900,000 | 344,193,500 |
| 1947 | 121,520,000 | 46,835,000 | 34,840,000 | 203,195,000 |
| 1948 | 74,950,000 | 52,841,000 | 35,520,000 | 163,311,000 |
| 1949 | 30,940,000 | 26,034,000 | 13,510,000 | 70,484,000 |
1944 Philadelphia’s 231.4 million is the highest single-mint Mercury dime output ever. The 1949-S at 13.5 million is the lowest mintage of any 1940s dime. Total decade production: approximately 2.3 billion.
Mintage alone doesn’t determine value — Full Bands/Full Torch status matters more than survival numbers for most dates.
How to Grade Your 1940s Dimes
Circulated (G-4 through EF-40): In circulated condition, these dimes trade near melt regardless of specific grade. The numismatic premium begins at About Uncirculated.
About Uncirculated (AU-50/53): Trace wear on Liberty’s hair (Mercury) or Roosevelt’s cheekbone. Most original luster present.
Mint State (MS-60 through MS-67+): No wear. Graded by contact marks, luster, and strike quality.
Full Bands / Full Torch: The designation that drives premiums. On Mercury dimes, both sets of horizontal bands on the fasces must show complete separation. On Roosevelt dimes, the torch bands must be fully split. Not every mint state coin qualifies.
When to submit for grading: If the coin appears MS-63+ or is a key variety (1942/1, RPM, Micro S). For circulated 1940s dimes trading at melt, professional grading isn’t cost-effective.
Collecting Strategies
Complete decade set — All 30 coins (P/D/S, 1940–1949) in circulated grades runs $160–$200. The 1949-S is the toughest piece.
Type set — One Mercury + one Roosevelt from the 1940s captures the transition. An MS-65 FB/FT pair costs $50–$75.
Silver stacking — Buy circulated 1940s dimes at melt or near-melt premiums. Browse junk silver coins or check closest-to-spot silver.
Cherry-picking — Hunt dealer bins for the 1942/1 overdate, RPMs, and unattributed FB coins. A 1942/1 in any grade is a $500+ find.
Frequently Asked Questions
Are 1940s dimes silver?
Yes — all contain 90% silver. The composition didn’t change until 1965.
What’s the most valuable 1940s dime?
The 1942/1 overdate in MS-65 Full Bands: $15,000–$25,000+.
Why did the design change in 1946?
FDR died April 1945. His portrait went on the dime due to his connection with the March of Dimes polio campaign. The Roosevelt dime debuted January 30, 1946.
What does Full Bands mean?
Completely separated horizontal bands on the Mercury dime’s reverse fasces — a sign of superior strike quality. Adds 40–150% to value at the same grade.
Should I clean my 1940s dimes?
Never. Cleaning destroys original surfaces and permanently reduces value.
Are 1940s dimes good for stacking silver?
Yes — abundant, recognizable, and trade near melt in circulated condition. Ten dimes = $1 face value = 0.723 oz silver.
Where’s the mint mark?
Mercury dimes: reverse, near the bottom rim left of the fasces. Roosevelt dimes (1946–1964): reverse, near the torch base.
Related Guides
- Dime Values by Year: Complete Guide (1892–Present)
- 1940s Penny Value Guide
- What Dimes Contain Silver?
- Silver Dime Melt Values Calculator
- 1945 Dime Values & Mercury Dimes Worth Money
- 5 Valuable Roosevelt Dimes Worth Money
- 90% Silver Coins Best Price Closest to Spot
- Junk Silver Coins
Last updated: May 2026. Values approximate, based on PCGS/NGC price guides and recent auction results. All 1940s dimes contain 0.0723 oz silver — check the silver spot price for today’s melt value.
