The determination of Mercury's magnetic moment from the spatially and temporally limited observations obtained by the Mariner 10 mission is dependent upon the assumed nature of both the intrinsic planetary magnetic field and that of the magnetospheric current systems. In this paper the methods that have been used for this purpose are reviewed. The results that have been obtained are then considered in comparison with the constraints placed on the planetary field by the solar wind dynamic pressures and stand-off distances inferred from the Mariner 10 magnetic field data by Slavin and Holzer (1979) which are consistent with an effective dipole moment of 6 ± 2 × 10 22 G cm 3. It is found that the models which fit the observations with substantial quadrupole and octupole moments are not consistent with the magnetospheric boundary conditions, presumably owing to incorrect assumptions regarding the magnetopause position, incorrect assumptions regarding solar wind dynamic pressure, and/or averaging over temporal variations in the Mariner 10 data.