[Facts] Mercia
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I've always heard MER-sha for the given name and MER-see-a for the Anglo-Saxons; however, I'm not sure how far back you want to go for your "traditional" pronunciation. To the ancient Romans (who probably wouldn't have used it as a name)? To the Anglo-Saxons? To the good old days when English-speakers were encouraged to strive for Received Pronunciation?