The 1942/1 Mercury dime has, essentially since its inception, been one of the most popular varieties. This overdate is not only drastic, as the 1942/1 overdate is clearly visible to the naked eye, but it came about around the time of the great boomtime in the numismatic hobby, when many tens of thousands of new collectors began checking their change and building collections.

However, the 1942/1 overdate is essentially a common coin in the circulated grades. It is, however, much rarer in uncirculated levels and especially so with Full Bands details. Perhaps fewer than 300 or so are known in the grades of MS60 or higher; only a few dozen in the grade of MS65 or better, making it one of the scarcest issues in the Gem grades alongside and perhaps even rarer than pieces such as the 1916-D, 1921, and 1921-D. The Philadelphia 1942/1 Mercury dime has Denver-minted counterpart that is of equal popularity. Enthusiasts should be mindful when buying specimens of the 1942/1 Mercury dime, watching for altered dates and all-out counterfeits.