1938-S Mercury Dime Value
Expect a 1938-S Mercury Dime to trade between about $2.70 and $26.50, driven almost entirely by grade, and its metal content alone is worth $2.64 as of 2026-06-01 See the grade table below for exactly where your coin falls.
1938-S Mercury Dime value by grade
| Grade | Estimated value |
|---|---|
| Melt value floor(metal content, 2026-06-01) | $2.64 |
| Good (G-4) | $2.70 to $3.55 |
| Very Good (VG-8) | $2.70 to $3.70 |
| Fine (F-12) | $2.70 to $3.90 |
| Very Fine (VF-20) | $2.85 to $4.20 |
| Extremely Fine (XF-40) | $3.25 to $4.80 |
| About Uncirculated (AU-50) | $3.95 to $5.80 |
| Mint State (MS-60) | $4.95 to $7.25 |
| Choice Unc (MS-63) | $6.75 to $9.90 |
| Gem Unc (MS-65) | $18.00 to $26.50 |
Estimated retail range, updated 2026-06-13. Estimates are modeled from mintage rarity and metal content, not auction records. Actual sale prices vary with certification, eye appeal and market timing.
Current 1938-S Mercury Dime value
At the entry level, well-worn examples bring about $2.70. The same coin in gem uncirculated condition is a $26.50 coin. Grade is everything: two examples of the 1938-S Mercury Dime can differ in price by an order of magnitude based purely on preservation.
1938-S Mercury Dime specifications
- Series
- Mercury Dime
- Year
- 1938
- Mint mark
- S
- Mintage
- 8,090,000
- Composition
- 90% silver, 10% copper
- Weight
- 2.5 g
- Diameter
- 17.9 mm
- Edge
- Reeded
- Designer
- Adolph A. Weinman
- Silver content
- 0.07234 troy oz
Mintage figure: US Mint reports (approximate).
Where is the mint mark on a 1938 Mercury Dime?
On a 1938-S Mercury Dime, the "S" mint mark of the San Francisco Mint sits on the reverse, to the right of the fasces base, left of the E in ONE. A loupe helps: on worn examples the letter can fade into the surrounding devices.
What makes the 1938-S Mercury Dime valuable
A large mintage of 8,090,000 means this issue is common in circulated grades. The interesting money starts in Mint State, where quality, not quantity, sets the price.
Every 1938-S Mercury Dime contains 0.0723 troy ounces of pure silver, currently worth $2.64. That intrinsic value is a hard floor under the price: no matter how worn the coin, the silver inside cannot be graded away.
Context adds the final layer to the 1938-S Mercury Dime. The 1921 and 1921-D are strong semi-keys from the postwar coinage slump, and the 1942/1 overdates are dramatic die-error rarities. Owning this date means owning a piece of that story, and demand for the series as a whole sustains liquidity for every issue in it.
Summary: the 1938-S Mercury Dime is valued between $2.70 and $26.50 as of 2026-06-13. Estimates combine mintage rarity, key-date status and metal content; they are editorial guidance, not an offer to buy.