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.
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 had the lowest mintage of the entire 29 year history of the Mercury Dime series.
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.
- 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.
Conditions and 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.
Grading Conditions of the 1916-D Mercury Dime
Good (G4)
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)
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.
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.
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.
