1942/1 10C AU58 Certification #30861536, PCGS #5036

Ron Guth

The 1942 over 1 Dime is one of the most popular and recognizable of all U.S. coin varieties, and for decades, dealers and collectors have touted it as a great, valuable variety.  The truth is that it is not rare at all, not even scarce, and can be called common based on the high number of pieces in the PCGS Population Report.  However, this statement only holds true for circulated examples because, in Mint State, the 1942/1 Dime is one of the rarest of all the Mint State Mercury Head Dimes.

Warning - collectors should beware of altered dates.  If the date on a potential purchase does not match the image shown above, pass.

Charles Morgan

1942/1 Mercury Dime: The Famous Overdate

Discovered in 1943 by collector Arnold Kohn of Kingston, New York, the 1942/1 Mercury Dime overdate (also a doubled die) gained rapid fame following a feature in the March 1943 issue of Numismatic Scrapbook Magazine. By May of that year, the magazine published the first photograph of the variety. Its popularity was instantaneous, leading to its inclusion in standard numismatic reference guides starting in 1945.

Key Diagnostics

• The Date: A doubled "4" features a distinct notch at the top and behind the base. Traces of the 1941 undertype are visible on the other digits.
• Lettering: Clear doubling appears on the motto IN GOD WE TRUST and the "Y" in LIBERTY.
• Die Markers (Obverse): A diagonal die polish line extends from the crossbar of the "4" to the rim, accompanied by a reflective area behind Liberty’s neck.
• Die Markers (Reverse): A thin die polish line runs from the left side of the fasces base to the olive branch stem.

Production and Provenance

This variety resulted from a hubbing error, where a single die was impressed by both a 1941-dated hub and a 1942-dated hub.

The rarity of the coin is well-documented; notably, 166 examples were identified within the famous New York Subway Hoard. Numismatist Walter Breen also noted that the majority of known uncirculated specimens originated from four original rolls discovered in 1954.

The PCGS Population Report indicates that nearly a quarter of all 1942 Mercury Dimes certified are the 1942/1 overdate. While this reflects the population within PCGS holders, it is not a representative sample of the actual ratio between the error and the standard issue.

Beacuse the 1942/1 commands prices ranging from $350 in Fine 12 to $700 in XF45, there is a significant financial incentive for collectors to submit the overdate in mid-circulated grades. Conversely, no such incentive exists for the 1942 "Perfect Date" unless it is a Mint State example. Despite its scarcity, the 1942/1 remains a highly collectible variety and is slightly more common than its Denver counterpart, the 1942/1-D (#5036, #5037).

Vintage Market Snippet

The coin’s status as a "must-have" rarity was cemented early on. In the June 1961 issue of The Numismatist, dealer Lester Merkin offered an About Uncirculated (AU) example for just $95.

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