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1916-D Mercury Dime and Other Valuable Dimes

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The 1916-D Mercury Silver Dime is one of the most sought-after coins in American numismatics. It was the inaugural year for the Mercury Dime series and is a prized piece among collectors due to its low mintage, historical significance, and rarity.

The value the 1916-D Mercury can vary widely based on condition, with high-grade examples commanding significant premiums.

All branches of the US Mint were transitioning from the Barber to the Mercury in 1916 and the Denver branch faced limited demand for dimes and focused more on producing other denominations, resulting in the mintage of only 264,000 Mercury dimes.

1916 Mercury Dime Mintage

  • Philadelphia Mint (No mint mark): 22,180,080
  • San Francisco Mint (S): 10,450,000
  • Denver Mint (D): 264,000

The 1916-D Mercury Dime had the lowest mintage of the entire 29 year history of the Mercury Dime series.

1916-D Rarity

  • Exceptionally Low Mintage The Denver Mint produced only 264,000 dimes in 1916, the lowest of any Mercury Dime.
  • First Year of Issue: Being the first year of issue for the Mercury Dime series adds historical significance and desirability among collectors.
  • Mint Mark Location: The “D” mint mark is located on the reverse side of the coin, to the left of the fasces (a bundle of rods) and below the olive branch.

Value Ranges

The value of a 1916-D Mercury Dime varies greatly depending on its condition, or grade. Understanding the different grading conditions is essential when assessing the coin’s value. These coins are over one hundred years old and many were circulating for decades before being discovered by a collector in some spare change.

Good (G4)

Example of a 1916 Mercury Dime in Circulated, but Good or Fine condition
Circulated 1916 Mercury in good to fine condition

In Good condition, the 1916-D Mercury will still appear heavily worn. Most of the major design elements, such as Lady Liberty’s profile and the fasces (the symbol of strength and unity) on the reverse, will be significantly worn down. The details in Liberty’s hair will be nearly flat, and the winged cap will have lost most of its details. The inscription “LIBERTY” may still be visible but faint. The “D” mintmark (signifying Denver) on the reverse might be worn but should still be visible.

Value Note: Even in this worn condition, the rarity of the 1916-D Mercury gives it a high value compared to other coins with examples in this condition fetching $800 to $1,000.

Fine (F12)

A Fine 1916-D Mercury will show moderate wear. Liberty’s profile will be more defined, though the hair will still be mostly worn flat. The wings on her cap will show basic outlines but lack finer details. On the reverse, the fasces will show the distinct shape of the axe but will be missing finer lines. The “D” mintmark will be clear.

Significance: This condition appeals to budget-conscious collectors who want to own the quintessential key date without paying the premium for higher grades.

Extra Fine (XF40)

Example NGC Certified 1942/41-D Mercury Dime Graded XF40

In a Very Fine condition, there is noticeable detail in Liberty’s hair and winged cap. Some individual strands of hair will be visible, though not fully sharp. The winged cap will also show more depth and separation between the wing elements. On the reverse, the fasces and axe will begin to show sharper lines. The lines running through the fasces will still be partially worn but clearly visible.

Value for Collectors: Collectors who prefer more detailed coins may target this grade as a balance between affordability and maintaining the coin’s historical aesthetics with prices ranges from $6,000 to $10,000.

Almost Uncirculated (AU50)

In Almost Uncirculated condition, the 1916-D Mercury will have only light wear on the highest points of the design. Liberty’s hair and the wings on her cap will have most of their detail intact, though there may be slight wear on the highest points. The reverse will show sharp details on the fasces, with clear lines separating the bands and distinct textures on the axe.

Significance: For collectors, an AU50 example represents a coin that is very close to mint state but comes at a significantly lower price than a fully uncirculated example.

Certified 1916-D Mercury Dimes

Investors and collectors should strongly consider focusing on certified 1916-D Mercury Dimes when adding one to their collection.

Counterfeits of this dime are common due to the coin’s rarity and high value. Purchasing a coin certified by a reputable grading service like PCGS or NGC helps to ensure that the coin is genuine.

The condition of a coin can greatly affect its value, so having a third-party grade ensures transparency and trust in the market. When consider this coin as an investment, third-party certified coins come with a guaranteed grade.

Certified coins are more liquid and easier to sell because having it authenticated and graded by a third-party makes it a safer investment should you decide to sell down the road.

1916-D Values

Here are the general value ranges based on the coin’s condition:

1916-D Mercury Dime VG

The highest values are for coins in Mint State (MS) condition, which exhibit no wear and retain their original mint luster.

Collectors should be wary when buying this coin due to the presence of counterfeits that have found.

History of the Denver Mint

The Denver Mint officially began coin production on February 1, 1906. The first coins were struck at the Denver Mint on February 1, 1906. The first coins to be produced were $20 double eagles, however, the history of the Denver Mint dates back to the discovery of gold in the Rocky Mountains in 1858.

Like other gold rushes, the discovery of gold deposits in the area led to a massive influx of settlers and created a need for a local refining and minting facility to process the gold found in the area.

In 1860, a private mint known as Clark, Gruber & Company was established in Denver that produced territorial gold coins that were used locally.

The United States Treasury purchased the Clark, Gruber & Company mint in 1862 for $25,000, with the intention of turning it into a federal mint. The facility originally operated as an assay office where gold could be deposited and exchanged for coins produced at other mints.

In 1895, Congress authorized the establishment of a new mint facility in Denver. Construction began in 1897, and the new Denver Mint building was completed in 1904.

Throughout the 20th century, the Denver Mint became one of the largest producers of coins in the United States. The mint continues to produce billions of coins annually for circulation, as well as commemorative coins, coin sets, and medals.

Coins produced at the Denver Mint are distinguished by the “D” mint mark.

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What Dimes Contain Silver?

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Silver Dimes

Before 1965, U.S. dimes were minted with an alloy containing 90% silver. These coins, often referred to as “junk silver,” derive their value primarily from their silver content rather than numismatic value.

Mercury Silver Dimes (1916-1945)

The Mercury Silver Dime was continuously minted by the US Mint from 1916 until 1945. These coins feature Lady Liberty on the obverse wearing a phrygian cap, often mistaken for the Greek God Mercury due to the winged hat.

  • Design: The Mercury Dime, officially known as the Winged Liberty Head dime, features Lady Liberty wearing a phrygian cap with wings on the obverse. This design is often mistaken for the Roman god Mercury, hence the name.
  • Composition: Each dime contains 90% silver and 10% copper.
  • Historical Significance: Designed by Adolph A. Weinman, the Mercury Dime is considered one of the most beautiful U.S. coins.

Mercury Dime Key Dates

1916-D

  • Mintage: 264,000 Denver Mint
  • Significance: Exceptionally low premier mintage of the Mercury dime from the Denver mint.
  • Value: Extremely rare and highly sought after by collectors. Coins in circulated, but good condition, can command up to $1,000. While graded Mint State 1916-D Mercury Dimes specimens can fetch over $35,000.

1921 and 1921-D

  • Mintage: 1,230,000 (Philadelphia) and 1,080,000 (Denver)
  • Significance: Both the 1921 and 1921-D are low mintage years due to reduced coin production during the post-World War I economic slump.
  • Value: These dimes are scarce and command high prices, especially in uncirculated condition.

1942/1 and 1942/1-D Overdates

  • Mintage: Unspecified; these are error coins.
  • Significance: These overdate coins show a “1” underneath the “2” in the date. They are rare and highly prized by error coin collectors.
  • Value: Values can range significantly based on condition, often starting at several hundred dollars and going up into the thousands.

Roosevelt Silver Dimes (1946-1964)

The Roosevelt Silver Dime was introduced in 1946 and was minted with a 90% silver alloy until 1964. Beginning in 1965, the mint introduced the clad Roosevelt Dime that is still in use today.

  • Design: Introduced in 1946, the Roosevelt Dime honors President Franklin D. Roosevelt. The obverse features his portrait, designed by John R. Sinnock.
  • Composition: Like the Mercury Dime, it contains 90% silver and 10% copper.
  • Introduction Reason: The dime was introduced shortly after Roosevelt’s death as a tribute to his legacy, particularly his role in founding the March of Dimes.

Roosevelt Silver Dimes Key Dates

1949-S

  • Mintage: 13,510,000
  • Significance: The 1949-S is a key date because of its relatively low mintage compared to other Roosevelt dimes.
  • Value: In high grades, this coin can be quite valuable.

1950-S

  • Mintage: 20,440,000
  • Significance: Another semi-key date due to its lower mintage and the demand from collectors.
  • Value: Prices vary based on condition, but it is more valuable than most other dates in the series.

1951-S

  • Mintage: 31,630,000
  • Significance: This year had a higher mintage than 1949-S and 1950-S but still is considered a key date due to collector demand.
  • Value: Similar to the 1950-S, it holds a premium in higher grades.

Silver dimes, like all 90% silver US coinage are sometimes referred to as “junk silver”. This is a common term adopted from the coin collecting industry for coins that have little to no numismatic value. Their value lies strictly in the silver content.

Junk silver dimes are a great way to start investing in silver. They are fractional and you can buy them close to spot price.

Silver Dimes in Circulation

The Roosevelt Dime was introduced in 1946. Billions of silver dimes were minted up until the debasement began in 1965. While many have been smelted over the years for their melt value, there are still plenty available in the wild. Depending on the availability of unsearched bank rolls in your area, coin roll hunting can be a great way to stack junk silver.

The easiest way to tell if you have a silver dime is by looking at the date. All dimes that were minted prior to 1965 contain 90% silver content. If your dime is from 1964 or earlier, then it is a silver dime.

Silver Dime Values

At the very minimum, a silver dime is worth its weight in silver. A 90% silver dime has an overall gross weight around 2.5 grams. Therefore, it has roughly .0715 ozt of silver. Based on the spot price, the intrinsic value of the silver is worth far more than the face value, which is the primary reason that the government stopped the use of silver and made the switch to clad coins.

An easy way to estimate the value of your silver dimes is that each $1.00 Face Value, or ten silver dimes, contains .715 troy ounces of silver. This is a commonly accepted weight that takes into consideration that there may be some wear and tear from circulation.

For more information about which silver dimes may be key dates and have some numismatic value.

You can easily compare online dealer prices for 90% silver dimes:

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Silver Dimes

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Silver Dimes

Until 1965, U.S. dimes were composed of 90% silver and 10% copper. However, because of rising silver prices, the U.S. Mint decided to continue debasement of coinage by changing the composition of dimes to a copper-nickel alloy, starting with the clad coin production in 1965. The US Mint not longer issues silver dimes, instead, today’s dimes are of an alloy that is 91.67% copper and 8.33% nickel.

Silver dimes are ten-cent coins that were minted from 1796 to 1964, made from an alloy called “coin silver.”

Six different styles of silver dimes had been issued by the US Mint before 1965. Those include the Draped Bust, Capped Bust, Seated Liberty, Barber, Mercury, and Roosevelt designs.

Until 1965, U.S. dimes were composed of 90% silver and 10% copper. However, because of rising silver prices, the U.S. Mint decided to continue debasement of coinage by changing the composition of dimes to a copper-nickel alloy, starting with the clad coin production in 1965. Today’s dimes are of an alloy that is 91.67% copper and 8.33% nickel.

Silver Dime Variations

  1. Roosevelt Silver Dimes (1946-1964): These feature a portrait of President Franklin D. Roosevelt on the obverse side.
  2. Mercury Dimes (1916-1945): Despite the name, these actually depict a young Lady Liberty wearing a winged cap, which was mistaken for Mercury, the Roman messenger god.
  3. Barber Dimes (1892-1916): Named after their designer, Charles E. Barber, these dimes feature the head of Liberty on the obverse.
  4. Seated Liberty Dimes (1837-1891): These depict Liberty seated on a rock, holding a shield in one hand and an olive branch in the other.
  5. Capped Bust Dimes (1809-1837): These feature a portrait of Liberty wearing a cap, along with an eagle on the reverse.
  6. Draped Bust Dimes (1796-1807): These feature a portrait of Liberty with flowing hair and draped bust.

Collectors seek out silver dimes for their historical and numismatic value, while investors purchase them for their silver content as a hedge against economic instability or inflation. The industry refers to this as “junk silver,” although the term doesn’t reflect on the condition or value of the coin but rather means that its value comes primarily from its metal content rather than its rarity or collectibility.

Face Value Bags of Junk Silver

Online bullion dealers typically offer 90% silver dimes based on the face value that each contains. For example, each $5 Face Value standard bank roll of silver dimes has fifty individual pieces minted Pre-1965. Each circulated silver dime contains approximately .0715 troy ounces, with each standard $5 Bank Roll of silver dimes having a total of 3.575 troy ounces ASW.

Buying $100 Face Value bags of silver dimes provides one thousand individual dimes. These face value bags a popular way for new collectors to better understand the many rare dates, die variations, mint marks and error coins that are available. The intrinsic value of this bag is much higher than the face value due to the silver content of the coins.

Books About Silver Dimes

Pre-made Ten-Cent Coin Albums from Dansco and Whitman are an easy way for collectors to keep things organized and are available from Amazon and other retailers.

As a reference guide, many coin dealers use the spiral bound Guide Book of United States Coins, typically referred to as the “Red Book”, to help with pricing of collectible coins. The publish updates the guidebook each year making it one of the most common guidebook for collectors and investors alike.