In a remarkable discovery, a 1916-D Mercury Dime found in a dusty coin box has been appraised at nearly $200,000, highlighting the immense value that rare coins can hold.
This particular dime, known for its scarcity and historical significance, has become a coveted item among collectors and investors alike.
The 1916-D Mercury Dime: A Numismatic Rarity
The 1916-D Mercury Dime is one of the most sought-after coins in American numismatics. Minted in Denver, only 264,000 of these dimes were produced, making it the lowest mintage of the Mercury Dime series.
Its rarity is further amplified when found in Mint State (MS) condition with Full Bands (FB)—a designation indicating a well-struck coin with fully separated horizontal bands on the fasces on the reverse side.
Key Features and Specifications
| Feature | Details |
|---|---|
| Year of Minting | 1916 |
| Mint Mark | D (Denver) |
| Mintage | 264,000 |
| Composition | 90% Silver, 10% Copper |
| Weight | 2.5 grams |
| Diameter | 17.9 mm |
| Designer | Adolph A. Weinman |
| Designation | Full Bands (FB) |
| Highest Auction Price | $195,500 (MS67 FB) |
Why Is the 1916-D Mercury Dime So Valuable?
Several factors contribute to the high value of the 1916-D Mercury Dime:
- Low Mintage: With only 264,000 coins minted, it’s the rarest in the Mercury Dime series.
- First Year of Issue: Being the inaugural year adds historical significance.
- Full Bands Designation: Indicates a strong strike, which is rare for this coin.
- High-Grade Condition: Coins graded MS67 FB have fetched nearly $200,000 at auctions.
How to Identify a Valuable 1916-D Mercury Dime
To determine if you possess a valuable 1916-D Mercury Dime, consider the following steps:
- Check the Date and Mint Mark: Look for the year 1916 and a ‘D’ mint mark on the reverse side.
- Examine the Bands: Use a magnifying glass to inspect the horizontal bands on the fasces. Fully separated bands indicate a Full Bands designation.
- Assess the Condition: Coins with minimal wear and strong luster are more valuable.
- Professional Grading: Submit the coin to a reputable grading service like PCGS or NGC for authentication and grading.
Recent Auction Highlights
| Year | Grade | Designation | Auction Price |
|---|---|---|---|
| 2010 | MS67 | Full Bands | $195,500 |
| 2013 | MS67 | Full Bands | $152,750 |
| 2001 | MS67 | Full Bands | $128,800 |
These auction results underscore the significant value that high-grade 1916-D Mercury Dimes can command in the numismatic market.
Tips for Collectors and Enthusiasts
- Proper Storage: Store coins in acid-free holders to prevent tarnishing.
- Avoid Cleaning: Cleaning can damage the coin’s surface and reduce its value.
- Stay Informed: Keep up with market trends and auction results.
- Join Numismatic Communities: Engage with fellow collectors for insights and opportunities.
The discovery of a 1916-D Mercury Dime worth nearly $200,000 serves as a compelling reminder of the hidden treasures that may lie in old coin collections.
For collectors and enthusiasts, understanding the factors that contribute to a coin’s value—such as rarity, condition, and historical significance—is crucial.
Whether you’re a seasoned numismatist or a curious beginner, the world of coin collecting offers exciting opportunities to uncover valuable pieces of history.
FAQs
What makes the 1916-D Mercury Dime so rare?
Its low mintage of 264,000, being the first year of issue, and the rarity of high-grade specimens with Full Bands make it exceptionally rare.
How can I tell if my Mercury Dime has Full Bands?
Inspect the horizontal bands on the fasces on the reverse side. If they are fully separated and well-defined, the coin may have the Full Bands designation.
Where can I get my coin professionally graded?
Reputable grading services include the Professional Coin Grading Service (PCGS) and the Numismatic Guaranty Company (NGC).
Are there other valuable Mercury Dimes besides the 1916-D?
Yes, other valuable Mercury Dimes include the 1919-D and 1918-D with Full Bands, which have also fetched high prices at auctions.