In a remarkable discovery, a 1916-D Mercury Dime, one of the rarest coins in American history, was found in a sock drawer.
This unexpected find has captivated the numismatic community, as the coin’s rarity and condition make it exceptionally valuable.
Historical Significance of the 1916-D Mercury Dime
The 1916-D Mercury Dime holds a special place in coin collecting due to its limited mintage and unique design.
Minted in Denver, only 264,000 of these dimes were produced, making it the lowest mintage of the Mercury Dime series.
The coin features Lady Liberty wearing a winged cap, symbolizing freedom of thought, and is often mistaken for the Roman god Mercury.
Key Features and Specifications
| Feature | Details |
|---|---|
| Year of Minting | 1916 |
| Mint Mark | D (Denver) |
| Designer | Adolph A. Weinman |
| Composition | 90% Silver, 10% Copper |
| Weight | 2.5 grams |
| Diameter | 17.91 mm |
| Edge | Reeded |
| Obverse Design | Winged Liberty Head (Lady Liberty) |
| Reverse Design | Fasces with Olive Branch |
Rarity and Value
The coin’s rarity is attributed to its low mintage and the fact that many were lost or melted down over time.
The 1916-D Mercury Dime is highly sought after by collectors, especially those in Mint State (MS) condition with Full Bands (FB) on the reverse, indicating a strong strike.
- Circulated Condition: Values range from $1,000 to $13,000, depending on wear.
- Mint State (MS-63 to MS-65): Prices can soar between $20,000 and $50,000.
- MS-67 FB: One such coin sold for $207,000 in 2010.
- Recent Discovery: The sock drawer find, graded as MS-68, has been valued at $7.3 million, potentially setting a new record.
Authentication and Counterfeits
Due to its high value, the 1916-D Mercury Dime is a common target for counterfeiting. Collectors should seek authentication from reputable grading services like PCGS or NGC to ensure the coin’s legitimacy.
The discovery of a 1916-D Mercury Dime in a sock drawer underscores the importance of checking old coin collections.
This rare coin’s historical significance and substantial value make it a prized possession for collectors and a fascinating piece of American numismatic history.
FAQs
Why is the 1916-D Mercury Dime so valuable?
Its value stems from its low mintage of only 264,000 coins, making it the rarest in the Mercury Dime series. High-grade examples, especially those with Full Bands, are exceedingly rare and command premium prices.
What does “Full Bands” mean on a Mercury Dime?
Full Bands” refers to the horizontal bands on the fasces (a bundle of rods) on the coin’s reverse. If these bands are fully separated and well-defined, the coin is designated as having Full Bands, indicating a strong strike and increasing its value.
How can I authenticate a 1916-D Mercury Dime?
To authenticate the coin, consult professional grading services like PCGS or NGC. They can verify the coin’s authenticity, grade its condition, and provide certification, which is crucial given the prevalence of counterfeits.