The Full Bands (FB) or Full Split Bands (FSB) designation refers to the two bands on the reverse torch. They should be split with lines without any break, an indication of a strong strike. Proof coins are assumed to have split bands. Business strikes, however, may not.
This is how PCGS defines Full Bands:
“The bands on a Mercury Dime are found within the fasces design element, serving as the main reverse device that resembles a bundle of sticks and an axe wrapped within vines of olive leaves. Binding all these elements together are the bands, which are shown as three sets of twin belts. The Full Bands designation is granted to Mercury Dimes in which the central (middle) set of bands shows a complete split in the middle.”
Here is an example of split bands from one of my dimes.
Mercury dimes with split bands command higher prices. For instance, an MS65 1927 dime retails for $175. One with the FB designation is worth $400 more.
Here’s the reverse of a 1927 dime being offered on HiBid. The seller states that this is full bands.
It’s somewhat difficult to tell from this photo without enlarging the photo, which I did with an app:
With the enlarged photo, I can tell this is not full bands. The left side is mushy with breaks in the lines.
The search for full bands in Mercury dimes is a great way to spend your hobby time rather than look for so-called errors that click-baiters hype on social media. Go through the series and identify years and mint marks that bring premiums. Others may not have that grading skill.
Case in point: In a recent HiBid auction, I spotted this 1945 dime being offered in a lower-tier slab. This is the holy grail of full bands in the series, worth $10,000 at MS63. At MS67, the coin retails for $65,000.
I looked at the photos and won the coin with a $120 bid.
The obverse of this coin actually may be MS67, although I think it will grade MS66:
Here’s the reverse:
I am sending the coin raw to PCGS and will inform you later about the grade. I don’t think it will earn full bands because the lines are slightly broken in the middle of the bands. Nevertheless, with a nearly complete full bands on this coin, it should sell for hundreds of dollars because of the demand for this coveted designation on the 1945-P coin.
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