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FUN Signature US Coin Sale 1251 4-6 & 8-9 Jan 2017
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Mercury Dimes
1916-D 10C MS66 Full Bands PCGS. From a memorably low first-year mintage of 264,000 pieces, the 1916-D Mercury dime has been the acknowledged key to the series since the 1930s. Despite generous productions of the denomination at the Philadelphia and San Francisco facilities in 1916, the Denver Mint only coined dimes during November of that year. After November 24, all resources at the Western mint were allocated to producing quarter dollars, because a shortage of those coins had developed after the opening of World War I. Since the pending Standing Liberty quarter design was not prepared for mass coinage until December -- and then only at the Philadelphia Mint -- the quarters struck at Denver in late 1916 were of the old Barber design. Quarter production at Denver in 1916 topped 6.5 million coins, the highest coinage of the denomination at that facility since its opening a decade earlier.
Leading up to the design changes of 1916, the Denver Mint coined dimes at a much more aggressive annual rate than any of the other silver denominations. Strong eight-figure mintages in 1911, '12, and '14 supplied commercial demand in 1915, when no dimes were coined at that facility. The 1916-D Mercury was thus the first dime issue struck at that mint in nearly two years. Then in 1917, and extending onward until 1922, dime production in Denver was again a staple of that mint's annual operations. Thus, the 1916-D Mercury dime is something of an anomaly in the D-mint series: a low-mintage key, produced not by a lack of demand for the denomination, as is usually the case, but despite commercial demand.
Many examples of Adolph Weinman's popular new design were saved for their novelty value, but this preserved mainly Philadelphia and San Francisco coins. High-grade examples of the low-mintage Denver issue are far rarer than those of the other two mints. The last MS66 Full Bands PCGS coin that we handled was in our February 2015 PNG Invitational Signature sale, lot 3065, which realized $94,000 in a first generation holder -- a record price for the grade. This delightful Premium Gem is equally sharp and well-preserved and showcases frosty, glowing mint luster with a hint of light champagne toning. Full split bands on the fasces are a rarely seen hallmark at this grade level, and this coin also boasts strong peripheral definition. Eye appeal is terrific. Population: 24 in 66 (2 in 66+) Full Bands, 8 finer (11/16).
1916-D 10C MS66 Full Bands PCGS. From a memorably low first-year mintage of 264,000 pieces, the 1916-D Mercury dime has been the acknowledged key to the series since the 1930s. Despite generous productions of the denomination at the Philadelphia and San Francisco facilities in 1916, the Denver Mint only coined dimes during November of that year. After November 24, all resources at the Western mint were allocated to producing quarter dollars, because a shortage of those coins had developed after the opening of World War I. Since the pending Standing Liberty quarter design was not prepared for mass coinage until December -- and then only at the Philadelphia Mint -- the quarters struck at Denver in late 1916 were of the old Barber design. Quarter production at Denver in 1916 topped 6.5 million coins, the highest coinage of the denomination at that facility since its opening a decade earlier.
Leading up to the design changes of 1916, the Denver Mint coined dimes at a much more aggressive annual rate than any of the other silver denominations. Strong eight-figure mintages in 1911, '12, and '14 supplied commercial demand in 1915, when no dimes were coined at that facility. The 1916-D Mercury was thus the first dime issue struck at that mint in nearly two years. Then in 1917, and extending onward until 1922, dime production in Denver was again a staple of that mint's annual operations. Thus, the 1916-D Mercury dime is something of an anomaly in the D-mint series: a low-mintage key, produced not by a lack of demand for the denomination, as is usually the case, but despite commercial demand.
Many examples of Adolph Weinman's popular new design were saved for their novelty value, but this preserved mainly Philadelphia and San Francisco coins. High-grade examples of the low-mintage Denver issue are far rarer than those of the other two mints. The last MS66 Full Bands PCGS coin that we handled was in our February 2015 PNG Invitational Signature sale, lot 3065, which realized $94,000 in a first generation holder -- a record price for the grade. This delightful Premium Gem is equally sharp and well-preserved and showcases frosty, glowing mint luster with a hint of light champagne toning. Full split bands on the fasces are a rarely seen hallmark at this grade level, and this coin also boasts strong peripheral definition. Eye appeal is terrific. Population: 24 in 66 (2 in 66+) Full Bands, 8 finer (11/16).