The Mercury Dime, also known as the Winged Liberty Head Dime, was introduced in 1916, replacing the less popular Barber Dime. This US Mint silver coin quickly gained favor due to its artistic depiction of Lady Liberty, which bore a resemblance to the Roman god Mercury.
The Mercury Dime features Lady Liberty donning a Phrygian cap with wings, symbolizing freedom of thought. Designed by Adolph A. Weinman, who also crafted the Walking Liberty Half Dollar, this coin showcases Lady Liberty facing left, surrounded by the inscriptions “Liberty,” “In God We Trust,” and the year of mintage. The reverse depicts a Roman fasces and an olive branch, representing America’s readiness for war and desire for peace.
Weinman’s inspiration for the Winged Liberty Head is believed to have been Elsie Stevens, the wife of poet and lawyer Wallace Stevens. The design of Victory from the Union Soldiers and Sailors Monument located in Baltimore, Maryland, also influenced Weinman's creation.
Throughout its mintage from 1916 to 1945, the Mercury Dime saw little design change. However, two specific issues are notable for collectors: the 1916-D and the 1942 overdates from the Philadelphia Mint. Coins featuring Full Split Bands on the reverse, indicating clear separation of the bands holding the fasces, are particularly valuable. These coins, struck with well-defined dies, are rare in high grades due to their detailed design.
The design's symbolic elements, such as the fasces and olive branch, reflect America's military readiness and peaceful intentions. These features contributed to the coin's appeal, making it a beloved piece among collectors.
The imagery for the Mercury Dime was determined by a competition held by the US Mint to find new designs for the dime, quarter, and half dollar. Adolph A. Weinman won this competition, despite facing off against then-Chief Engraver Charles E. Barber. The Mercury Dime was produced until 1945 when it was replaced by the Roosevelt Silver Dime.
Due to reduced demand caused by the Great Depression, the Mint ceased production of Mercury Dimes during the years 1932 and 1933. This hiatus adds another layer of historical context to the Mercury Dime's legacy.
In 2016, to celebrate the centennial of the Mercury Dime’s debut, the US Mint released a special Gold Mercury Dime. This commemorative strike honored the historical significance of the original coin and provided a modern take on a classic design.
Mercury Dimes are highly sought after by numismatic enthusiasts. They are commonly available through coin and bullion dealers in both certified and junk silver forms. While most Mercury Dimes are easy to find, the 1916-D and the 1941/1942 overdates are exceptions.
The value of these dimes depends heavily on their condition. Each Mercury Dime contains 2.50 grams of silver, currently valued at over $2 for its silver content alone. In circulated condition, these coins typically sell for about $1 over their silver value. Uncirculated coins in MS 60 condition can fetch $6-8, while MS 65 grades might be valued around $25. Coins in MS 68 condition can command prices up to $200.
Factors such as condition, mint mark, year of mintage, and the presence of a Full Split Band significantly affect the value of Mercury Dimes. Collectors should seek coins with well-preserved details to ensure higher values, and consult a grading service such as the Numismatic Guaranty Company (NGC) or the Professional Coin Grading Service (PCGS) for confirmation of authenticity and condition.
The Mercury Dime stands as a testament to American numismatic artistry and history. Although commonly collected, there are rarities within this series that can become extraordinary pieces in any collection. Over time, these coins may appreciate in value, making them an excellent addition for both new and seasoned collectors. At Bullion Hunters, we offer expert advice and a wide selection of collectible coins. Visit our website or contact us to explore our inventory and broaden your collection with timeless numismatic treasures.