By CoinWeek Notes …..
The 1916-D Mercury Dime stands as a scarce key-date coin from the first year of an iconic American series that ran for almost 30 years.
The Mercury, or Winged Liberty, Dime features an elegant design that draws heavily from the French Beaux Arts movement of the late 19th century.
The United States Mint issued it just before launching the Roosevelt Dime (1946–Present), and it remains the last dime the Mint struck entirely in .900 silver.
Coins Released in 1916 by the US Mint
In the year of the coin’s initial release, Americans were introduced to three iconic U.S. coin designs.
The other two were the Walking Liberty Half Dollar (also designed by Adolph Weinman and the basis of the American Silver Eagle bullion coin’s obverse design) and the Standing Liberty Quarter (designed by Massachusetts-based sculptor Hermon Atkins MacNeil).
These coins joined the Indian Head (Buffalo) Nickel, the Lincoln Wheat Cent, the Indian Head $2.50 Quarter Eagle and $5 Half Eagle by Bela Lyon Pratt, and the Saint-Gaudens $10 Eagle and $20 Double Eagle gold coins.
A Brief History of the Mercury Dime
The original Winged Liberty Dime entered circulation at the end of October 1916. This release marked the start of a nearly three-decade run for one of America’s most admired coin designs.
Collectors quickly embraced the coin’s artistry. The Winged Liberty Dime, better known as the Mercury Dime because of its winged cap, became far more than ordinary pocket change.
Moreover, its elegant Beaux-Arts styling accompanied the nation through World War I, the Great Depression, and World War II. The coin witnessed some of the most challenging periods in American history.
A Cultural Icon
Additionally, the Mercury Dime evolved into a cultural icon. Its recognizable design tied itself to the March of Dimes anti-polio campaign and appeared in Charles Atlas advertisements throughout comic books and magazines.
When E.Y. “Yip” Harburg wrote the Depression-era classic “Brother, Can You Spare a Dime?” in 1932, he referenced this coin. His choice underscored the dime’s connection to everyday American life.
In circulation, the Mercury Dime performed well. Unlike the Buffalo Nickel and Walking Liberty Half Dollar, it avoided major striking problems. As a result, it met commercial needs without controversy.
Collectors today value both its beauty and its practicality. Even so, specialists still chase premium examples. Furthermore, sharply struck pieces with Full Split Bands remain scarce for certain dates, adding difficulty for those building high-grade sets.
Despite these challenges, the Mercury Dime endures as a coin that elevated the look of American money. It served its purpose with efficiency and, at the same time, helped define the artistic legacy of U.S. coinage.
The End of the Mercury Dime
The Mercury Dime’s term of service came to an unexpected end when President Franklin Delano Roosevelt died on April 12, 1945. A transformative president, FDR worked alongside allies to defeat the Axis powers in World War II.
He established a social safety net for millions of Americans after a debilitating global depression and established a system of income distribution that created the vibrant American middle class that ushered in a prolonged period of postwar economic prosperity.
Americans greeted his loss with shock and despair; his funeral tour was reminiscent of the one undertaken 80 years earlier after the traumatic death of Abraham Lincoln.
Movement begins to Honor Roosevelt
Almost immediately, a movement formed to honor Franklin D. Roosevelt on a circulating coin. The dime became the obvious choice because the denomination echoed Roosevelt’s battle with polio and his support for the March of Dimes.
On May 17, Treasury Secretary Henry Morgenthau, Jr. announced that the Mint would replace the Winged Liberty Dime with a new design featuring Roosevelt’s portrait. Morgenthau served under both Roosevelt and Truman, which gave the decision added weight.
The Mint expected the Roosevelt Dime to debut late that year. However, the new coin did not reach the public until early 1946.
With its release, the Winged Liberty Dime’s stellar 30-year run came to an end. Circulating pieces slowly wore down.
Mint State examples disappeared into hoards, and collectors cherrypicked scarce dates and varieties.
Phased Out of Circulation
By the mid-to-late 1960s, as silver coins phased out of circulation, only heavily worn Mercury Dimes remained in daily use.
The early 1980s silver boom caused further losses. Melt buckets consumed tens of thousands of original Mercury Dimes, including some unfortunate key and semi-key dates.
Although the series includes several conditional rarities, collectors primarily remember two standout issues: the 1916-D and the scarce 1942/1941 overdate.
Why Is the 1916-D so Scarce?
The Mercury Dime was produced in quantity in 1916, with 22,180,080 struck at Philadelphia, and 10,450,000 struck at San Francisco. In light of those numbers, Denver’s output of 264,000 is puzzling.
Numismatists have speculated for years that the Denver Mint halted production of the new dime design shortly after an initial production run to devote resources to the production of quarters.
Q. David Bowers notes that the first delivery of 1916-D Mercury Dimes took place on December 29, which means that the 1916-dated dime did not enter into circulation until 1917.
But the coin did circulate, as evidenced by the number of well-worn examples in the marketplace. Mint-state examples are rare, with choice examples bringing over $12,000 in today’s market.
Gems and examples with Full Bands are even more challenging. A nicely toned MS67FB with CAC approval brought a record price of $207,000 in an August 2010 Heritage auction.
As this is one of the most counterfeited U.S. coins (see Jack Young’s recent piece), it is highly recommended that collectors buy only certified examples, even in grades as low as AG-03. Most fakes are accomplished by adding a “D” mintmark to a genuine 1916 dime.
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Market Data and Noteworthy Specimens
The MS67FB top population at NGC has increased from one in April 2024 to four as of this October update. Top pops at PCGS and CACG have remained the same.
Top Population: PCGS MS67+FB (1, 10/2024), NGC MS67FB (4, 10/2024), and CAC MS67FB (4:0 stickered:graded, 10/2024).
- PCGS MS67+FB #38634042: As PCGS MS67FB CAC #38634042. “The D. Brent Pogue Collection, Part VII,” Stack’s Bowers, March 20, 2020, Lot 7050 – $204,000. Pogue novelty insert. Since this sale, the coin has been upgraded by one-half point.
- PCGS MS67FB #6545707: “The Burgess Lee Berlin, M.D., J.D. Collection of Important United States Rarities,” Heritage Auctions, January 4, 2018, Lot 4808 – $96,000.
- PCGS MS67FB #25683814: Heritage Auctions, August 12, 2015, Lot 4000 – $94,130.43. Pale peach toning with rim toning in rust and green.
- PCGS MS67FB CAC #06643835: Heritage Auctions, November 1, 2013, Lot 3563 – $152,750.
- NGC MS67FB #641463-001: Heritage Auctions, July 31, 2009, Lot 1074 – $97,750. Scattered orange and green toning.
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1916-D Mercury Dime Obverse Design
Adolph A. Weinman’s obverse design features Liberty (of Thought) facing to the left. A winged cap adorns her head, tufts of hair curl around the base of the cap on her forehead and behind her ear.
A braid of hair wraps around the base of her neck. LIBERTY wraps around the top of the coin with letters spaced apart.
The letters “E” and “R” are partially obstructed by Liberty’s cap and the motto IN GOD WE TRUST is in the bottom left of the field.
The designer’s monogram (a “W” surmounting an “A”) appears behind Liberty’s neck below and to the left of the “Y” in LIBERTY. The date 1916 appears below the bust truncation to the rear. A subtle basin creates a dish-like appearance in the field.
1916-D Mercury Dime Reverse Design
At the center of the reverse of the 1916-D Mercury Dime, the fasces immediately commands attention, a powerful emblem of governmental authority that dates back to ancient Rome.
To the left, an axe blade extends outward, reinforcing the symbol’s classical meaning. Meanwhile, a curving branch of olive leaves wraps behind the fasces, creating a striking contrast between strength and peace.
Above this central motif, the legend UNITED · STATES · OF · AMERICA arcs along the rim, giving the design a balanced, architectural feel.
Below, the denomination ONE DIME curves along the lower border, and five-pointed stars separate the upper legend from the denomination, adding symmetry and visual rhythm to the composition.
To the right of the word ONE, the small D mint mark identifies the Denver Mint as the issuing facility for this key-date coin.
Additionally, the motto E PLURIBUS UNUM (“Out of Many, One”) appears just to the right of the fasces, positioned slightly below center to complete the design’s classical structure.
Edge: The edge of the 1916-D Mercury Dime is reeded.
About the Designer
Adolph Alexander Weinman, born in Germany, immigrated to the United States as a teenager and quickly immersed himself in the nation’s artistic circles.
He studied and worked under two of America’s most influential sculptors, Augustus Saint-Gaudens and Daniel Chester French, which helped shape his developing style and professional trajectory.
Moreover, Weinman created two of the most iconic designs in U.S. coinage history: the Mercury (Winged Liberty) Dime and the Walking Liberty Half Dollar, both of which debuted during the remarkable “annus mirabilis numismaticus” of 1916.
These designs not only elevated American coin artistry but also cemented Weinman’s reputation as one of the foremost sculptor-engravers of the early 20th century.
In addition, Weinman influenced the next generation of artists. His sons pursued careers as sculptors and coin designers, and he also trained pupils such as Anthony de Francisci, who later designed the Peace Dollar.
Weinman continued contributing to American art until his death in 1952, leaving behind a legacy that still defines classic U.S. coinage.
Coin Specifications
| Country: | United States of America |
| Year of Issue: | 1916 |
| Denomination: | 10 Cents (USD) |
| Mintmark: | D (Denver) |
| Mintage: | 264,000 |
| Alloy: | .900 Fine Silver |
| Weight: | 2.50 g |
| Diameter: | 17.90 mm |
| Thickness: | 1.35 mm |
| Edge: | Reeded |
| OBV Designer: | Adolph A. Weinman |
| REV Designer: | Adolph A. Weinman |
| Quality: | Business Strike |
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I’ve gotten into coins so much in a short time. I have not shared my new hobby. I’d love it if I had some way to see value of my coins. I’ve a few up there $.
EBay has “A guide to United States coins. Red book is retail. Blue book is what dealers might pay.
HOW CAN YOU HAVE YOUR COIN GRADED IF YOU DO’NT KNOW HOW TO FILL OUT THE GRADING APPLICATION ? HOW CAN YOU GET HELP WITH THIS PROBLEM ?
I have a book of liberty dimes . How do I get them graded?
Way, way back in 5th grade I somehow managed to convince the school cafeteria to let a couple of us young collectors scan the daily take. One day a shiny Mercury dime caught my eye. A closer look showed “1916”. Excitedly we flipped it over … only to see a blank next to “ONE”. Oh well, but it was still a *very* nice find some 40+ years after its minting.
Wow…I did not know the history of this coin…nor when and why it changed to the Roosevelt dime.
THE classic! See so many in AG condition!
Great article! Thanks for being a great resource.
The release of 3 beautiful coin designs in 1916 predated my birth by decades. Those coins were my introduction to coin collecting, so they are always significant in my world.
I have several coinss some artinacated and others not .1900 Indain head cent , Buffalo nickles. Walking Liberty coins JFK1/2 dollars bicentiinaul quarters and much more. Looking to sell whole collection or certain coins however I would like to them all .q
I’m interested in. Your Indian head pennies as well as buffalo nichles. Also what year walking liberty and JFK half dollar coins do you have? And what number are you looking to get for said coins??
The new dimes design that are being minted are almost as nice as the Merc…But ya cant beat constitutional silver!!
Another very interesting article.
Im going to go through my mercury dime collection to see if i have 1916-D
Neat!
I have a few old coins, but no Mercury dimes any more
I love Mercury dimes!
I’m old enough to have had many, many Mercs slip away before I had a clue of their value either as a source of silver or potential value as a collectable.
Back then (WAY back then in my case) dimes were valuable because 10 cents could actually buy something. And those tiny, shiny discs labeled Mercury dimes were always beautiful to me.
I’m glad the Whitman Blue Book coin folders plugged up the hole for this coin with the word “RARE” on the plug so I don’t have to worry about filling it!
Nice article. One of my favorite coins. All the coins first issued in 1916 were outstanding.
Best looking conn
Super cool article!
Hope to find one one day.
Learning about these coins is such an interesting glimpse of history.
Mercury dime is one the best design coins ever., Especially toned ones. Thank you for this article.
I remember when these were commonplace.
Dimes are my favorite.
I love mercuty dimes!!! I have many!!
Great history lesson on these dimes. TY!
I sure wish I had more of these dimes. Somehow I ended up with pennies? Great article. Thanks.
Love the Mercs!
Sure would love to have one of these in my collection.
awesome,histiorical coin
I can always hold my gold version.
Wew, I would ike to find a 1916 mercury dime!
Thanks
When I was 8 years old in 1957, I started collecting Mercury dimes. Dad would take me to the bank every Saturday to get 1 or 2 rolls of dimes to look through. In 1960, I found a 1916-D! It may have been AG condition, but I found it!!! WOOHOO!!!
I would love to have a 1916d mercury dime. I m sure anyone would like to have one.
I purchased a 1916-D Mercury dime back in 2006 that I thought I made a great deal on. It wasn’t until 2020 that I found out I bought a Fake. I was so disappointed. I still have not been able to afford to replace it.
TY
Great article. Mercury dimes are one of my favorite coins.
I want 3 of those!
I have my own collection and I am missing the 16D. Great looking coin
I just got one in change, need to check it
I would take a Merc over a Roosevelt any day especially if it’s VF+. Heck, I would take a Barber or anything over a Rosie.
I love the mercury dimes..very cool.
A great coin to own!!
WOW! I can’t even begin to number the things I learned today by reading this article!
I began collecting coins during the pandemic. I purchased a roll of “salted” wheat cents on eBay. Inside, I found a 1916 S Mercury dime. It came back from PCGS graded MS 63. Not worth a lot of money, but how often do you find a 100+ year old coin in mint state from a roll of pennies? I was ecstatic!
Now I know why people are so excited when they find one of these while metal detecting.
Legend in the coin world, passed up a VG coin years ago for 1200.00.
MERCURY DIMES A UNIQUE COIN FOR ANY COLLECTION.
I have been collecting Mercury dimes since i was a child.
I got into colleting so late, I am always looking
This history is fascinating.
This is one of my favorites! As a youngster with a paper route, I eagerly looked forward to the “collection day” when my pocket was full of change. I would excitedly look through the coins at home with the hopes of finding Mercury dimes — especially the early dates. When I saw a 1916, my heart would skip a beat as I turned it over to the reverse, anxiously looking for a “D” mintmark. Sorry to say, I never found one.
my favorite dime
Beautiful dime with incredible toning!
One of my favorite coins, lived revisiting its history! At about 6-7 years old in about 1975, I was walking on one of tue dirt roads around our house and saw something shiny, went to see what it was. It was a 1936 Mercury Dime! I was fascinated as I had never seen a dime or a coin like it before, and this jump started my new hobby.
Mercs are beautiful coins!
A lasting legacy in Amercan coinage.