In a remarkable turn of events, a woman stumbled upon a 1916-D Mercury Dime while sorting through her late grandmother’s jewelry box.
Unbeknownst to her, this small silver coin, minted over a century ago, is one of the most coveted pieces among numismatists. Its rarity and pristine condition have now placed its value at an astonishing $127,000.
The Significance of the 1916-D Mercury Dime
The 1916-D Mercury Dime holds a special place in the world of coin collecting. Minted in Denver, only 264,000 of these dimes were produced, making it the lowest mintage of the Mercury Dime series.
Designed by Adolph A. Weinman, the coin features Lady Liberty donning a winged cap on the obverse, symbolizing freedom of thought, and a fasces with an olive branch on the reverse, representing unity and peace.
Factors Contributing to Its High Value
Several elements contribute to the high valuation of this particular coin:
- Low Mintage: With only 264,000 coins minted, the 1916-D Mercury Dime is exceptionally rare.
- Full Bands Designation: Coins exhibiting fully separated horizontal bands on the fasces are classified as “Full Bands” (FB), indicating a strong strike and adding significant value.
- Mint State Condition: Coins graded as Mint State (MS) are uncirculated and retain their original luster. Higher MS grades correlate with higher values.
Notable Auction Sales of 1916-D Mercury Dimes
To understand the coin’s market value, consider the following notable auction sales:
| Grade | Designation | Sale Price | Year |
|---|---|---|---|
| MS67 | Full Bands | $195,500 | 2010 |
| MS67 | Full Bands | $128,800 | 2001 |
| MS67 | Full Bands | $207,000 | 2010 |
These figures underscore the coin’s desirability and the premium collectors are willing to pay for top-grade specimens.
Authentication and Certification
Given the coin’s value, authentication is paramount. Reputable grading services like PCGS and NGC provide certification, ensuring the coin’s authenticity and condition.
It’s worth noting that the 1916-D Mercury Dime is one of the most counterfeited U.S. coins, often involving the addition of a fake “D” mintmark to a 1916 Philadelphia dime. Therefore, purchasing certified coins is highly recommended.
The Woman’s Windfall
Upon discovering the coin, the woman sought professional appraisal. Experts confirmed it as a genuine 1916-D Mercury Dime in exceptional condition, likely graded as MS66 or MS67 with Full Bands.
The coin’s estimated value of $127,000 has transformed a simple family heirloom into a life-changing asset.
This extraordinary find serves as a reminder of the hidden treasures that may lie unnoticed in our homes. The 1916-D Mercury Dime’s combination of rarity, historical significance, and pristine condition make it a standout piece in numismatic circles.
For collectors and enthusiasts alike, it exemplifies the thrill of the hunt and the potential rewards of coin collecting.
FAQs
What makes the 1916-D Mercury Dime so valuable?
Its low mintage of 264,000, combined with high-grade condition and Full Bands designation, contribute to its rarity and high market value.
How can I verify if my Mercury Dime is authentic?
Consult reputable grading services like PCGS or NGC for authentication and certification, especially since counterfeit versions are common.
Are other Mercury Dimes valuable?
Yes, certain dates and mintmarks, especially those with low mintage or unique features, can be highly valuable, particularly in high-grade conditions.