1916-D Mercury Dime. MS-65 FB (PCGS). CAC. Here is a condition rarity Gem Mint State example of the famous 1916-D Mercury dime. Mottled reddish-russet and champagne-apricot peripheral toning gives way to softer pinkish-silver iridescence toward the centers. The strike is impressively sharp overall with the focal features particularly noteworthy. Fully frosted in finish with very well preserved surfaces, this lovely coin will serve as a highlight in another advanced Mercury dime set.<p>In 1916, Adolph A. Weinmans Winged Liberty dime design entered production. Over 22 million were coined at Philadelphia and another 10 million at San Francisco that first year and were released to the general public en masse in late October. They circulated widely in the East and in the West. Numismatists sought out high grade examples of the new design and were satisfied. At the Denver Mint, the dimes were not a priority denomination at that time and so when production started, it was not in large numbers. On November 24, the Denver Mint received a rush order for 4,000,000 quarters of the outgoing Barber type to supplement the roughly 2.5 million already struck. The production of dimes was immediately halted to divert resources toward that effort, by which time only 264,000 dimes had come off the press. A legendary key date was born.<p>These few coins were mostly distributed in Montana and the Upper Midwest in November of the year, where not many coin collectors saved the issue and certainly not in high grade. The true rarity of this issue was not revealed until interest in collecting the series by mintmark took off in the 1930s and the hunt was on. Ever since, generations of collectors have searched accumulations of Mercury dimes in the hope of finding this rarity. As most 1916-D dimes saw extensive circulation before they were found by numismatists, finding even a mid-grade example is challenging. Today, most specimens grade no better than VG. Only 1% of the 10,000 estimated by PCGS to survive would qualify as Mint State. Of those, only about 10% are graded at the Gem level and above. Fortunately, the issue was well struck and the bands on the fasces on the reverse are often clearly defined. In a collection where only the best would do, this is a standout coin and destined to find a home in another world class cabinet. From the Larry H. Miller Collection. From the Larry H. Miller Collection.
