1920-S Mercury Dime: How AU Details (Cleaned) vs. Full Bands Impacts Value from $10 to $1,000

The Make-or-Break Details in Mercury Dime Grading

What transforms a common pocket change relic into a numismatic treasure? When evaluating a 1920-S Mercury Dime like PCGS Certification #56578806, the difference between a $10 curiosity and a four-figure rarity lies in microscopic details: the crispness of Liberty’s wing tips, the integrity of the fasces bands, and that elusive cartwheel luster whispering of mint condition. As a professional grader who’s handled thousands of Winged Liberty Head dimes, I’ll reveal how to spot the telltale signs separating ordinary coins from premium-priced Full Bands specimens.

Historical Context: Why the 1920-S Mercury Dime Matters

Born amid the roaring twenties at the San Francisco Mint, the 1920-S Mercury Dime hides extraordinary collectibility beneath its modest 19.68 million mintage. Two factors create its condition rarity:

• Strike Struggles: S-Mint presses often failed to fully define the fasces’ delicate horizontal bands
• Survival Scarcity: Wartime silver melts claimed most pristine examples before collectors could save them

PCGS census data shows only 176 survivors graded MS65 or better. When you find one with Full Bands? Prepare for heart-pounding auctions where they command 300-500% premiums over regular strikes.

Anatomy of a Full Bands Designation

The Strike Quality Imperative

Achieving Full Bands (FB) status requires three crisp, separated horizontals on the fasces. Under 5x magnification, your 1920-S specimen reveals:

• Top band: Pristine separation like a knife’s edge
• Middle band: Slight weakness at the right terminus
• Lower band: Minimal blending with adjacent elements

“I’ve seen worse with the FB designation.” – Forum User Jim

While borderline, this strike would likely qualify if not for the surface whispers we’ll discuss next.

The Cleaning Conundrum

PCGS’s “92 – Cleaned” designation stems from two heart-sinking traits:

• Field Disturbance: Telltale multidirectional hairlines beneath the toning
• Edge Burnishing: That unnatural shine along the reeds where a cloth wiped away history

The attractive golden-brown patina plays a cruel trick – hiding flaws from casual eyes but never from a grader’s loupe. As one forum veteran observed: “Cleaned by burnishing. It will not straight grade.”

Grading Factors: AU Details vs. Straight Grade Potential

Wear Patterns Analysis

Your coin wears its history like a map of lost potential:

These markers scream AU55-AU58… if only the surfaces hadn’t been altered.

Luster and Eye Appeal Assessment

Original luster should dance like moonlight on mercury. Your dime shows:

• Obverse: Fading cartwheel radiance fighting through blue-gray toning
• Reverse: Muted reflections with golden-brown hues clinging to protected areas

That haze between stars and rim? The ghost of cleaning past – enough to make NGC graders nod grimly with their PCGS counterparts.

The $900 Question: To Resubmit or Not?

Let’s talk numismatic value based on recent market pulses:

• AU Details (Cleaned): $10-$25 (a coffee table curiosity)
• AU58 FB: $400-$600 (the dream scenario)
• MS63 FB: $1,200+ (white whale territory)

Three possible resubmission outcomes:

1. Grader’s Mercy: AU58 FB (a $500 payday)
2. Reality Check: Confirmed details grade ($50 loss after fees)
3. Nightmare Fuel: Environmental Damage label (numismatic purgatory)

“The question becomes throwing good money after bad… limited upside, lots of possible downside.” – Forum User TomB

My hard-won advice? Keep it sealed. That hairline scratch near “EPU” is a landmine waiting to detonate your hopes.

Long-Term Strategy for Problem Coins

If you’re determined to chase a straight grade:

1. Patience Prescription: Let 2-3 years of sulfur-free storage deepen protective toning
2. Forensic Recheck: Use angled light to hunt persistent hairlines
3. NGC End Run: Their graders sometimes forgive antique cleanings if surfaces stabilized

Remember: Since 2016, PCGS has certified just seven 1920-S dimes as AU58 FB. This rare variety deserves cautious optimism – but only if you confront its flaws with unflinching honesty.

Conclusion: A Cautionary Tale with Silver Linings

Your 1920-S Mercury Dime embodies numismatics’ cruel beauty – a coin with Full Bands potential shackled by past sins. While the cleaning damage relegates it to “educational specimen” status for most collectors, treasure the knowledge gained. As forum members noted, your sharp eye for strike details and grading nuances proves you’re ready to land that four-figure Mercury dime. Sometimes the real collectibility lies not in the holder’s label, but in the wisdom earned through the hunt. Keep that loupe close and that passion closer – your rarity awaits.

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