| History of the Mercury Dime | | | | Philadelphia. For the entire series, Philadelphia |
| The year was 1915 and there was a movement | | | | produced 65.9% of all dimes, Denver produced |
| afoot to change the remainder of American | | | | 17.8% of all dimes while San Francisco produced |
| coinage. With the changes to the $10 eagle, $20 | | | | 16.3%, clearly making mint marked dimes a little |
| double eagle, the cent and nickel, it was now time | | | | tougher to get. |
| for changes to the dime, quarter and half dollar. | | | | Production totals exceed 50 million on 6 times |
| Under 1890 law, changes could not be made to a | | | | prior to 1940 but never going over 67 million |
| coin design without approval from congress more | | | | (1939). This totals far exceeded production of the |
| frequently than every 25 years. The Barber | | | | Barber dime but pail in comparison to the later |
| coinage (dime, quarter and half dollar) was to | | | | years of the Mercury dime. In 1941 production |
| reach that mark in 1916 and the mint wasted no | | | | totals skyrocketed with Philadelphia producing 175 |
| time in making the changes, in fact starting the | | | | million dimes. For the last four years of production, |
| process before 1916. | | | | totals never fell below 159 million. A total of 2.6 |
| In 1915, US Mint Director Robert W. Woolley | | | | billion dimes were produced with over half, 56% |
| offered the opportunity to three noted sculptors, | | | | being produced during the last 5 years with the |
| Adolph A Weinman, Albin Polasek and Herman A. | | | | last four coinciding with WWII. An amazing |
| MacNeil to prepare designs for three silver coins. | | | | statistic considering the Mercury dime was in |
| Outside artists, not chief engraver Charles Barber, | | | | production for 30 years. Of course many of |
| supplied designs for the previous six changes and | | | | those years were during the depression where |
| Woolley felt this was a great option. By 1916, | | | | coin production was low for all denominations. |
| Barber was 75 years old but had a track record | | | | When grading Mercury dimes, the grading criteria |
| of being hostile to outside artists designing coins | | | | changes somewhat in Mint State coins. Coins what |
| he thought he should be designing. With three new | | | | are fully struck have what is called Full Split Bands |
| designs, all replacing coins Barber himself had | | | | (FSB). This is in reference to the fasces where |
| designed, it could have gotten unpleasant. The | | | | there are clear and fully defined horizontal bands |
| records suggest Barber was on his best behavior. | | | | with separation between them. Mint State coins |
| In this case it seems he just stepped aside and | | | | with this definition will command premiums over |
| let his assistant George T. Morgan, who had | | | | their counterparts without this designation. |
| designed the Morgan dollar, do all the work. Maybe | | | | Key/Semi Key Dates |
| Barber finally just gave up or was too old too | | | | Clearly, from a non-variety perspective, the |
| fight anymore or just recognized the beauty in | | | | 1916-D is the toughest and most expensive coin |
| the designs. Barber died in February 1917 and was | | | | to obtain. Although not the rarest, is perhaps the |
| replaced by Morgan. | | | | most famous dime in U.S history. Typically, first |
| It is assumed that Woolley intended to award a | | | | year issues are heavily hoarded and collected by |
| different coin to each person. It may not have | | | | the public which typically preserves many coins. |
| been planned this way, but Weinman ended up | | | | Not so with the 1916-d as its rarity initially went |
| getting two of his designs as the winning designs. | | | | unnoticed. With millions of coins coming from |
| One being what would become known as the | | | | Philadelphia and San Francisco, the public had not |
| Walking Liberty Half and the Mercury Dime. | | | | noticed that very few had the Denver mint mark. |
| MacNeil won the design for the quarter with | | | | This is easily determined by the fact that so |
| Polasek getting shut out. | | | | many 1916-D dimes are available in such low |
| Adolph A. Weinman was born in Germany and | | | | grades as so many of them circulated for more |
| came to the US at the age of 10 in 1880. He was | | | | than 30 years. Another clear example is the |
| a student of well known sculptor Augustus | | | | stunning amount of 1916-D dimes discovered in |
| Saint-Gaudens. Saint-Gaudens is also credited with | | | | the "New York Subway Hoard". The collectors of |
| some truly outstanding coin designs. By 1915 | | | | this hoard did not begin collecting until the 1940's. |
| when the design process began, Weinman was | | | | More than 25 years after the release of the |
| widely celebrated as one of the nation's best | | | | 1916-D yet 251 examples of this special coin were |
| sculptors. | | | | in the hoard. |
| The design of the Mercury dime is that of a | | | | Coins in the lowest grade of FA2 or G3 will cost |
| "Winged Liberty" and is based on a bust that | | | | upwards of $500.00 and the prices only go up |
| Weinman did in 1913 of Elsie Kachel Stevens, wife | | | | from there. A VG8 is typically priced at $1300.00. |
| of well-known poet Wallace Stevens, who | | | | While this coin is indeed pricey, it is readily available |
| happened to be tenants of a New York City | | | | from many dealers. |
| apartment building owned by Weinman. The | | | | The second key of the series is the 1921-D |
| winged cap was to symbolize freedom of | | | | followed closely by the 1921-P. Both of these |
| thought. The reverse of the coin depicts the | | | | coins had mintages of just over 1 million. Both of |
| fasces, an ancient symbol of authority, with a | | | | these coins will cost over $50 for a G/VG grade. |
| battle-ax at the top to represent preparedness | | | | From here, the cost of individual coins drops |
| and an olive branch beside it to signify love and | | | | dramatically as the next semi-keys are 1926-S |
| peace and authority. | | | | and 1931-D. Both of these can be had for under |
| Production and release of the new dimes was | | | | $10.00 in low grades. |
| delayed until later in the year of 1916 as the dies | | | | A note about low grades: While you can obtain |
| were not quite ready. The Philadelphia and San | | | | these rarities in low grades, eye appeal is NOT |
| Francisco mint produced Barber dimes much of | | | | their strong point. Coins in AG-G condition typically |
| 1916 to meet demand while Denver ceased | | | | show the date/partial date and mint. It is generally |
| producing Barber dimes in 1914. Once the dies | | | | tough to make out details in the coins as they are |
| were complete, production began with both | | | | well worn. I quote prices in G4 as to give you an |
| Philadelphia and San Francisco cranking out millions | | | | idea of what minimum prices are for keys and |
| of dimes. Denver though produced a mere | | | | semi-keys. Prime examples in the coins noted |
| 264,000 making the 1916-D an instant rarity. | | | | above can run into the 10's of thousands of |
| Shortly after the dime began circulating, many | | | | dollars. |
| people began calling it a "Mercury dime" due to the | | | | While the 1945-P coin is readily available in all |
| wings on the cap. Mercury is the Roman god of | | | | grades, FSB specimens are extremely rare. Many |
| trade, property and wealth as well as messenger | | | | common dates of the 1940's have dozens of |
| to the other gods. The hat, called a Petasus, is | | | | coins graded in the MS-67 range while the 1945-P |
| similar to that worn my messengers during the | | | | currently has only 3 certified PCGS coins. |
| time when Mercury was worshipped. Mercury | | | | Errors |
| gained his speed from his wings. Although not the | | | | Perhaps the best know error in the Mercury |
| original and intended name for the new time, the | | | | series is the 1942/1 overdate. These were |
| term Mercury stuck and that is what it is known | | | | produced at both Denver and Philadelphia with the |
| as today. | | | | Philadelphia variety having popularity near the |
| The Mercury dime served Americans through two | | | | 1916-D. In the lowest grades these coins will cost |
| world wars ending its run in 1945. With the death | | | | over $500.00 and will be hard to distinguish the |
| of Franklin Delano Roosevelt in 1945, there was a | | | | error. It would be suggested to purchase these |
| strong movement to honor the president and in | | | | through a well known dealer and/or buying only |
| 1946 the Roosevelt dime began production and is | | | | certified coins of this error. |
| still used today. | | | | The other well known variety occurred in 1945 |
| Collectibility | | | | and that was a change in the size of the mint |
| General | | | | mark on San Francisco coins. Called "Micro S", |
| The Mercury dime is a wonderful coin for both | | | | many 1945 dated coins have a smaller "S" mint |
| experienced and beginning collectors and is the | | | | mark and sell for a slight premium over regular |
| most popular collected series in its denomination. A | | | | "S" coins. |
| complete set including all keys can be had for | | | | Proofs |
| under $1500.00 but the keys will be in very bad | | | | Proof Mercury dimes are quite beautiful. They |
| condition. A nicer set with all coins graded at least | | | | were only produced for seven years, from 1936 |
| G4 including keys can cost upwards of $2000.00 | | | | to 1942. A complete set in PR-65 condition would |
| or more. If you want to establish a year | | | | cost around $5000.00 |
| collection, you can avoid the big cost of the | | | | Vital Statistics Summary |
| 1916-D but you still will need to shell out $50 or | | | | Key Coin Info |
| more for a 1921 dated dime. Both mints, P or D | | | | Designed by: Adolph A. Weinman |
| (San Francisco did not produce any) are | | | | Issue dates: 1916-1945 |
| considered keys. All other dates should be easily | | | | Composition: 0.900 part silver, 0.100 part copper |
| obtained. Many people collect what is called a | | | | Diameter: 17.9 mm |
| short set consisting of all mints and years from | | | | Weight: 38.58 grains |
| 1934 to 1945 or 1941 to 1945. A short set of BU | | | | Edge: Reeded |
| specimens from 1941 is 1945 is quite attractive. | | | | Business strike mintage: 2,677,153,880 |
| Taking the three keys (discussed in a bit) out of | | | | Proof mintage: 78,648 |
| the equation, all dates and mints can be had for | | | | Proof mintage: 17,353 |
| under $10.00 in G4 condition with the majority of | | | | Keith Scott has been a collector for over 30 |
| them under $3.00. Most coins after 1940 can be | | | | years and owns a small internet-based coin store |
| had for under $1.00 in pretty decent grades. As | | | | at |
| with many coins of the times, Philadelphia was the | | | | Visit his website for a history of US coins, metal |
| main producer of coins while Denver and San | | | | market updates and news about your favorite |
| Francisco were generally much lower than | | | | coins. |