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Lot: 1772
Auction: 1116   		1942/1 10C MS66 Full Bands PCGS....
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Ended: Sep 17, 2008
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Buyer's Premium: 15% of the successful bid (minimum $9.00 per lot)
Description
Phenomenal 1942/1 Mercury Dime Overdate
MS66 Full Bands, Tied for Finest Certified


1942/1 10C MS66 Full Bands PCGS. FS-101. At an earlier time, many numismatists understood little about the mechanism that produces such startling overdate errors as the 1918/7-D Buffalo nickel, the 1918/7-S Standing Liberty quarter, the 1943/2-P Jefferson nickel, and the 1942/1-P and D Mercury dimes. Lacking a detailed knowledge of the process of hub, die, and coin production and the procedures involved in moving from one calendar year's coinage to the next, it was a simplistic but understandable assumption that many numismatists made, that the errors were produced simply by reengraving a digit for the later year over that of the earlier. Today there is little excuse, with the wealth of information available both online and in print to researchers, to make such a leap.
When the 1942/1-P and D errors were produced, the P-mint version, being much more bold and obvious, was recognized outside the Mint within a short time. The D-mint, a subtler overdate, went unrecognized for nearly 20 years; according to Lange, it was first mentioned in Numismatic Scrapbook in November 1960. When news of the 1942/1-P issue earlier surfaced in that same publication, in March 1943, among the more preposterous theories propounded--by no less a luminary than Chief Engraver John R. Sinnock--was that the error was produced when a 1941 dime was overstruck with a 1942 die! According to Lange, "Perhaps realizing the incredible nature of this explanation, he [Sinnock] then presented readers of [Numismatic Scrapbook editor Lee] Hewitt's publication with a streamlined rendition of what is now known to have been the actual cause--the use of two differently dated working hubs in the sinking of a single working die."
Lange continues with a direct quote from Sinnock, more credibly disputing the theory that a 1941 die might have been reengraved to read 1942:

In September of each year we start engraving the numeral in the new master die for the following year. We have no punches for these numerals since they were sculptured in the first place we follow the individual style of each sculptor. From this master die a working "hub" is drawn. This is re-touched if necessary, then hardened. This hub is used to fabricate all the working dies for that year. About one thousand dies with new date must be ready by January 1st of each year.

Because the error was published so soon after its creation, hobbyists began examining all 1942 dimes they encountered, leading to the many AU examples known today. Lange points out, however, that true Mint State coins are rare. The certified population data bear that out: While NGC and PCGS have each certified a few dozen Uncirculated examples, that is a far smaller number than those who desire an example of this popular variety.
Of course, Full Bands examples are rarer yet, and in MS66 Full Bands, this splendid example is one of only a half-dozen so certified at PCGS, and there are none finer (8/08). NGC has graded two coins MS66 Full Bands.
For starters, the overdate is incredibly bold on this piece, a naked-eye variety nearly as obvious as the 1955 Doubled Die cent. Not only the central horizontal bands on the reverse are split and rounded, but also the top and bottom bands. The top diagonal is full and, as often seen, the lower diagonal shows slight weakness where it joins the nearby olive leaf. The silver-white surfaces exhibit just a hint of golden-gray toning; radiant luster washes from both sides in copious quantities. The surfaces are almost entirely frosty, although under a loupe small patches in the left obverse field and behind Liberty's head display the shiny prooflike attributes that Lange calls "die burn," the result of die overpolishing.
This piece is simply the finest quality either obtainable or imaginable, a prize for the Registry Set collector or 20th century series enthusiast.(Registry values: N7079) (#5037)

Auction Name: 2008 September Long Beach, CA US Coin Signature Auction #1116
Description: Heritage Numismatic Auctions offers U.S. and World coins, medals, and tokens in our Signature Auctions & Final Session Sales, held in conjunction with some of the largest numismatic conventions. These sales feature award-winning cataloging and photography. Call or e-mail one of our Consignment Directors to learn about selling through Heritage.
Auction Type: Signature: !! Heritage Live: After Internet bidding closes, live bidding will take place through www.HA.com/Live. Your secret maximum bid placed prior to the live event will compete against the live bids. To maximize your chances of winning, enter realistic secret maximum bids on our site. Many of our proxy bidders are successful at winning lots in these auctions, and usually below their secret maximum. You can also place last minute bids directly with us by e-mailing Bid@HA.com or calling 1-866-835-3243. (Important note: Due to software and Internet latency, live bids may not register in time, so enter realistic proxy bids.)

This lot is in:  Signature Floor Session (Live Floor, Live Phone, Mail, Fax, Internet, and Heritage Live) (lots 1-4546)
Internet bidding ends at 10:00PM CT the night before the floor session for this lot. During the live auction event, bidding in person is encouraged, and Heritage Live includes streaming audio and often video during the event.

Item Activity: 8 Internet/mail bidders, 2,327 page views



Previous Prices from Heritage Auctions
Lot Date Grade Service Realized
Auction 388, Lot 2089 Saturday, November 5, 2005 66 PCGS $46,000.00
Auction 334, Lot 6115 Friday, November 7, 2003 66 PCGS $46,000.00
Auction 384, Lot 2566 Saturday, September 24, 2005 66 NGC $33,350.00
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PLEASE NOTE: All prices realized reflect the final hammer price PLUS the buyer's premium in auctions that charge a buyer's premium. Each item has a notation at the top of the listing indicating whether that lot included a buyer's premium. Example: A item that sells with a final hammer price of $100 and a 15% buyer's premium will display with a price realized of $115. All information listed is intended to be as accurate as possible, but errors are possible. Please use this guide carefully and inform us of any inaccuracies.

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