The 1916-D Mercury 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.
Its value can vary widely based on condition, with high-grade examples commanding significant premiums.
During 1916, all branches of the US Mint were transitioning from the Barber dime to the Mercury dime. The Denver Mint focused more on producing other denominations and faced limited demand for dimes, resulting in the production of only 264,000 Mercury dimes.
These factors led to the significantly lower output compared to the Philadelphia and San Francisco mints.
Mintage Figures for the 1916 Mercury Dime
- 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 has the lowest mintage of the three mints, making it exceptionally rare. It is the lowest mintage in the Mercury Dime series, which was produced up until 1945.
Rarity of the 1916-D Mercury Dime
- Exceptionally Low Mintage The Denver Mint produced only 264,000 dimes in 1916, the lowest of any Mercury Dime. This low mintage significantly contributes to its rarity.
- First Year of Issue: Being part of 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.
Conditions and Value Ranges
The value of a 1916-D Mercury Dime varies greatly depending on its condition, or grade. Here are the general value ranges based on the coin’s condition:
- Good (G-4): $800 – $1,000 (APMEX)
- Very Good (VG-8): $1,200 – $1,500 (APMEX)
- Fine (F-12): $2,000 – $3,000 (CoinWeek)
- Very Fine (VF-20): $3,500 – $5,000 (LandofCoins)
- Extremely Fine (EF-40): $5,500 – $7,000 (USACoinBook)
- About Uncirculated (AU-50): $10,000 – $20,000 (BullionShark)
- Mint State (MS-60 to MS-65): $15,000 – $35,000+ (PCGS)
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.
Key Characteristics and Grading Considerations
- Strike Quality: Due to the limited production run, the 1916-D dimes often have a weaker strike compared to other years. This is an important factor in grading.
- Wear and Tear: Coins with less wear and clear details are more valuable. Key areas to examine include the wings on Liberty’s cap, the fasces on the reverse, and the overall sharpness of the lettering and rim.
- Luster: Original mint luster significantly impacts the value. Coins that have been cleaned or altered are less desirable.
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.
