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The 1931-S Mercury Dime is worth anywhere from $8 in worn condition to over $350 in high-grade mint state. While many old dimes are only worth their silver melt value, this specific San Francisco minted coin is a “semi-key date” that holds significant premium value for collectors and casual finders alike.
| Condition / Grade | Estimated Value |
|---|---|
| Good (G-4) | $8.00 |
| Fine (F-12) | $12.50 |
| Extremely Fine (XF-40) | $35.00 |
| Uncirculated (MS-60) | $115.00 |
| Choice Uncirculated (MS-65) | $240.00+ |
Why the 1931-S Mercury Dime is a Rare Find
Finding a 1931-S Mercury Dime in your pocket change or an old jar is like finding a small piece of history that survived the Great Depression. During the early 1930s, the United States was in the depths of economic turmoil, and the demand for new coinage plummeted. As a result, the San Francisco Mint produced a relatively small number of these dimes compared to other years. If you are unsure if you have a genuine rarity, using a top coin identifier app can help you confirm the date and mint mark instantly.
Most Mercury Dimes from the late 1920s and late 1940s were minted by the tens of millions. However, the 1931-S had a mintage of only 1.8 million coins. In the world of numismatics, low mintage often translates to higher market prices. Today, collectors actively seek out this “S” mint mark variety to complete their sets, which keeps the demand high.
If you’re using the CoinKnow app to track your collection, you’ll see that this coin is categorized as a semi-key date. This means it isn’t as rare as the legendary 1916-D, but it is much harder to find than a common 1941 or 1944 dime. Because so many were used heavily during the Depression, finding one in “uncirculated” condition is quite a challenge for the average hunter.
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How to Identify the 1931-S Mint Mark
The first step in determining your coin’s value is confirming it was actually struck in San Francisco. The “Mercury” Dime (which actually depicts Young Liberty in a winged cap) features the mint mark on the reverse side. Look at the bottom of the coin, to the left of the bundle of rods (the fasces). You are looking for a small “S” stamped near the rim.
Your Old Coin Could Be Valuable!
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If the space is blank, it was minted in Philadelphia and carries a different value. If there is a “D,” it was minted in Denver. Interestingly, the 1931-D and 1931-S have similar survival rates and values, making both highly desirable. You can check the latest 1931 dime value to see how the different mints compare in today’s market.
Identifying the mint mark can be tricky if the coin is dirty or worn. We recommend using a magnifying glass or the high-resolution zoom feature on CoinKnow to ensure you aren’t misreading the letter. A “D” that is slightly damaged can sometimes look like an “S,” and vice-versa, which could change the valuation of your find.
Your Old Coin Could Be Valuable!
Identify It & Know Its Real Value — Free Download
| Mint Mark | Mintage Quantity | Rarity Level |
|---|---|---|
| 1931 (Philadelphia) | 3,150,000 | Common/Scarce |
| 1931-D (Denver) | 1,260,000 | Semi-Key Date |
| 1931-S (San Francisco) | 1,800,000 | Semi-Key Date |
Grading Your 1931-S Mercury Dime
Condition is everything when it comes to silver coins. Most 1931-S dimes you find in circulation today will be in “Good” or “Very Good” condition. This means Liberty’s hair will be flat, and the feathers in her cap will be indistinguishable. Despite this wear, the coin is still worth much more than its silver content because of the date.
For those lucky enough to find a coin with sharp details, the price jumps significantly. On the reverse, look at the horizontal bands that wrap around the bundle of sticks. If these bands are clearly separated with no merging, the coin is likely in “About Uncirculated” or “Mint State” condition. Expert collectors look for “Full bands” (FB), which refers to the most pristine strikes.
Detailed 1931-S Mercury Dime premium pricing shows that a jump from a standard Mint State 63 to a Mint State 65 with Full Bands can represent a difference of hundreds of dollars. Before selling, always compare your coin to high-resolution grading photos to ensure you aren’t underestimating its worth.
Your Old Coin Could Be Valuable!
Identify It & Know Its Real Value — Free Download
The Silver Content Factor
Even if your 1931-S dime is so worn that the date is barely visible, it still holds “intrinsic” value. All Mercury Dimes minted from 1916 to 1945 are composed of 90% silver and 10% copper. This means that as the price of silver fluctuates on the global market, the floor price of your dime changes too.
As of today, the silver melt value of a Mercury dime is roughly $1.80 to $2.20. However, you should never sell a 1931-S for just its melt weight! Because of its low mintage, its collector value (numismatic value) is almost always 4 to 10 times higher than the silver value.
When searching through “junk silver” bags, smart investors keep an eye out for these specific dates. Using the CoinKnow price guide allows you to see the current “melt vs. collector” spread so you can make informed decisions when buying or selling at local coin shops.
Your Old Coin Could Be Valuable!
Identify It & Know Its Real Value — Free Download
| Metal Composition | Weight | Silver Content |
|---|---|---|
| 90% Silver, 10% Copper | 2.50 grams | 0.0723 oz |
Tips for Selling Your Mercury Dime
If you decide you want to cash in on your 1931-S Mercury Dime, avoid taking it to a generic “We Buy Gold” kiosk or a pawn shop. These businesses often pay only melt value or a small fraction of the collector price. Instead, seek out a reputable local coin dealer or an online auction platform.
Before you go, make sure you do not clean the coin. This is the most common mistake beginners make. Cleaning a coin with chemicals or even a soft cloth can leave microscopic scratches that ruin its numismatic value. Collectors prefer a dirty, toned, or “original” looking coin over one that has been artificially polished.
Check recent sales on eBay or professional auction houses to see what people are actually paying. Often, a coin will have an “asking price” of $50 but only actually sell for $30. Keeping your expectations realistic based on the actual grade of the coin will help you secure a fair deal.
Frequently Asked Questions
FAQ
Q: Where is the mint mark on a 1931-S Mercury Dime?
A: The mint mark is located on the reverse (back) of the coin. Look at the bottom left, just beside the torch-like bundle of sticks (the fasces). You will see a small “S” if it was minted in San Francisco.
Your Old Coin Could Be Valuable!
Identify It & Know Its Real Value — Free Download
Q: Why is the 1931-S more expensive than my 1944 dime?
A: It comes down to mintage numbers. The Denver and San Francisco mints produced very few dimes in 1931 because of the Great Depression. While nearly 430 million dimes were made in 1944, only 1.8 million were made in San Francisco in 1931.
Q: Should I get my 1931-S Mercury Dime graded by PCGS or NGC?
A: Generally, it is only worth paying for professional grading if the coin is in “Uncirculated” condition or higher. If your coin is worth less than $50, the cost of grading might exceed the value of the coin itself.
Q: Is a 1931-S dime made of real silver?
A: Yes, all Mercury Dimes are made of 90% pure silver. This gives them a “base” value that rises and falls with the silver market, in addition to their value as collectibles.