The 1940 Dime comes from a series called Mercury Dimes, which has become very popular with collectors. If you’re wondering whether or not your 1940 Dime is worth a lot of money, then you’ve come to the right place!
Here we’ll guide you through how much the 1940 Dime is worth, help you understand its different varieties, and answer some FAQs. By the end, you’ll have all the info you need. Let’s get started by checking out our 1940 Dime value chart.
Story Stages
1940 Dime Value Chart
|
Coin Grade |
MS/PR60 |
MS/PR65 |
MS67/PR68 |
MS68/PR69 |
|
1940 No Mint Mark Dime |
$7 |
$50 |
$500 |
$4,500 |
|
1940 No Mint Mark Proof Dime |
$100 |
$200 |
$4,000 |
$15,000 |
|
1940 D Dime |
$8 |
$30 |
$200 |
$2,000 |
|
1940 S Dime |
$8.50 |
$50 |
$400 |
$5,000 |
1940 Dime Value by Mint Mark
In 1940, the dime was made in three different locations, with four different varieties of coin being made in total. There were regular circulated coins made in Philadelphia, Denver, and San Francisco, with Philadelphia also being responsible for making proof coins.
With Denver and San Francisco coins, they added a little “D” or S” respectively to denote that they were made in that location. However, at this time, Philadelphia didn’t add any mint mark to their coins which is why we refer to these as “No Mint Mark” coins.
The 1940 Dime is a part of what’s called the Mercury Dime series. That’s because many thought the figure on the obverse of the coin (the head side) resembles the Roman god Mercury. However, the image is actually meant to be the goddess, Liberty. Due to this, they are also called Winged Liberty Head dimes.
Designed by Adolph A. Weinman, the value of these coins can change a lot depending on where they were made and their condition. Let’s have a look at all the individual coins in detail to check out their value.
1940 No Mint Mark Dime
If you read our section above, you’ll know that the No Mint Mark Dime comes out of Philadelphia. Historically, their mint has been responsible for making the highest percentage of coins in any given year and 1940 was no different, as they made nearly two-thirds of all 1940 dimes.
In total, 65,350,000 dimes were made at the mint so you might expect them to have very little value, but that’s not true. These coins were heavily circulated and therefore finding them in near-perfect condition is rare.
According to Coin Value Checker, If you have one that is in worn condition, then you’ll be pleasantly surprised to know that they are worth well above their $0.10 face value. That’s because they are made of 90% silver, which means it has a modern-day melt value of a little under $2.
The coin would need to be in extremely good condition to be worth more than its melt value. In good condition, you may get around $3. At an MS60 level, that rises to only $7. If you’re not sure what we mean by ‘MS60’, check out our brief explainer below.
At the very highest levels of grading, the value can skyrocket. MS67 is nearly the highest grading a circulated coin such as this can realistically achieve. At that level, you can expect to receive at least $500 for your coin.
The record for a 1940 No Mint Mark dime is $35,250. That was for an MS68 coin sold in 2019. There were two extra features that made that coin extra valuable as it had a Full Bands designation, and also beautiful coloring. We’ll talk more about that in the next section.
While over $35k was the record, most MS68 coins sell far below that. The average is around $4,500, which is still impressive for such a highly circulated coin.
1940 D Dime
So, Full Bands designation, what is it? Well, on the reverse of the coin is the depiction of a fasces. A fasces is a symbol that shows an axe bound by wooden rods. On the 1940 dime it is also surrounded by olive branches.
On the Mercury Dime, you can see seven of these rods bound by three sets of bands. For Full Bands designation, these rods should be perfectly intact, and you should see clear distinction to all of the bands bounding them. Even a small amount of wear can blur the lines between the bands.
It doesn’t matter where the coin was made, having a Full Bands (FB) designation can dramatically increase its value.
21,198,000 dimes were made in Denver in 1940, so they must be worth much more than Philadelphia coins, right? Well, no! And the reason is that a lot of Denver coins have survived in good condition.
The mint struck their coins very well in 1940 which means many specimens graded at MS68 still exist today. The record sale for a 1940 D Dime is just $3,565, with the average being around $2,000. For an MS67 coin, you can expect that average to drop to around $200.
Even though Denver produced the smallest number of circulated coins, the important factor is how many have survived in good condition to the present day. And it’s still easy to find Denver coins in near-perfect condition.
1940 S Dime
The 1940 S Dime sits somewhere in between Philadelphia and Denver in terms of quality and quantity. It made a similar number of coins to Denver at 21,560,000 but fewer of these have survived in perfect condition today.
Due to this, on average S coins are worth more than D coins. This is shown by the record sale price being $9,775 for an MS68 coin sold in 2000. As with both Philadelphia and Denver, these coins need to be in Mint State to be worth much more than their melt value.
We’ve talked about the mint marks, but where can you find them on the Denver and San Francisco coins? It’s on the reverse of the coin at the bottom, just to the right of the “ONE” in “ONE DIME”. It’s only small but not too difficult to spot.
It’s also important to talk about the color of these coins. Many remain in their shiny nickel, but others can oxidize and turn into a wonderful range of rainbow colors. If these colors are particularly beautiful, they can add to the value of the coin.
1940 No Mint Mark Proof Dime
In modern times, proof coins are made for collectors and struck on polished planchets, with the highest quality dies. However, in 1940 they were mainly created for testing out the new die and for archiving purposes. These coins were never meant for circulation.
Due to that, they are expected to be in near-perfect condition. In 1940, only 11,827 of these coins were made in the Philadelphia Mint. You may think that with such a low number, these coins can be extremely valuable.
However, they may not be worth quite what you’d expect. As they have always been kept in perfect condition, they are still easily available.
That being said, the record price for one of these coins is still an impressive $15,295 for a PR69-rated coin. Even in lower grades, you can still expect to get over $100 for them due to their scarcity.
1940 Dime Value Grading
Each coin is graded on a scale of 1 to 70, with 70 being a coin in perfect condition. Only coins rated at 65 or above usually have significant value. Along with that number, you’ll see either ‘MS’ or ‘PR’. ‘MS’ stands for Mint State and is given any coin graded over 60, and ‘PR’ stands for Proof.
1940 Dime Value Errors
Along with coins in near-perfect condition, coins can also have added value if they had an error in the manufacturing process. Let’s look at some of the common errors with the 1940 dime.
Uncentered Broadstrike
When striking a coin, a collar is meant to keep it in place and ensure that the design is perfectly placed on the coin. However, sometimes this doesn’t happen which can lead to blank spaces on the edge of the coin. For any coin in mint state, this could make the coin worth $100 or more.
Repunched Mint Mark
A repunched mint mark is just that, a mint mark that has been punched twice. When this happens, the second strike may not be perfectly aligned with the first. This can be very hard to spot but can add value to the coin.
Doubled Die
A doubled die is effectively a more dramatic version of the repunched mint mark. Here, the whole coin was struck twice, which can mean a doubling of all the design elements. The more dramatic this double die, the more expensive the coin will be.
1940 Dime Value – FAQs
Is a 1940 dime silver?
Yes, the 1940 Dime contains silver at 90%. The rest of the coin is made from copper. This gives the coin a melt value in today’s market of just under $2.
What year of dime is worth money?
Any year of dime can be worth a lot of money. There are two ways a coin can be worth a lot of money and that’s if they are in near-perfect condition, or if they are an error coin. If you have a coin that matches this criteria, it’s a great idea to have it graded.
How can you tell if a dime is rare?
If you are holding a dime coin that looks as if it was struck yesterday, then it’s most likely very rare. Most of these coins were made in very high quantities so they are only rare if they are in the highest levels of mint states.
Conclusion
A 1940 Dime is often only worth its melt value but if you have one if fantastic condition, it could be worth much more! Using a Coin Value Checker can give you a great idea of whether you just own a standard coin or something much more special.
