Posted by In a remarkable turn of events, a rare 1916-D Mercury Dime was discovered inside an old lunchbox, leading to an astonishing sale price of $85,000.
This unexpected find has captivated numismatists and collectors worldwide, highlighting the enduring allure of rare coins.
The Discovery
The coin was found nestled within a vintage lunchbox, tucked away in an attic for decades. Upon inspection, experts identified it as the elusive 1916-D Mercury Dime, a coin renowned for its rarity and historical significance.
Its exceptional condition and the presence of Full Bands (FB) on the reverse elevated its value considerably.
Historical Significance of the 1916-D Mercury Dime
The 1916-D Mercury Dime holds a special place in American numismatic history:
- Low Mintage: Only 264,000 were minted in Denver, making it the lowest mintage of the Mercury Dime series.
- Design: Featuring Lady Liberty with a winged cap, symbolizing freedom of thought, the coin’s design is often mistaken for the Roman god Mercury, hence its nickname.
- Transition Coin: It marked the shift from the Barber Dime to the Mercury Dime design in 1916.
Factors Contributing to the High Value
Several elements contributed to the coin’s impressive sale price:
- Condition: The coin’s pristine state, with minimal wear, significantly increased its value.
- Full Bands (FB): Coins exhibiting fully separated horizontal bands on the fasces are rare and highly sought after.
- Authentication: Graded and certified by reputable services like PCGS or NGC, ensuring its authenticity and condition.
Value Comparison
| Grade | Estimated Value (USD) |
|---|---|
| Good (G-4) | $1,350 – $2,000 |
| Very Fine (VF-20) | $3,500 – $4,500 |
| Extremely Fine (EF-40) | $5,500 – $7,000 |
| Mint State (MS-60) | $12,000+ |
| MS-67 Full Bands (FB) | $207,000+ |
Note: Values can vary based on market demand and coin condition.
Identifying a Genuine 1916-D Mercury Dime
To determine if you possess a genuine 1916-D Mercury Dime:
- Obverse (Front): Features Lady Liberty wearing a winged cap.
- Reverse (Back): Depicts a fasces and an olive branch.
- Mint Mark: Look for a small “D” on the reverse, to the left of the bottom of the fasces, indicating it was minted in Denver.
- Full Bands (FB): Coins with fully separated horizontal bands on the fasces are more valuable.
Due to the high value, many counterfeits exist. It’s advisable to have the coin authenticated by reputable grading services like PCGS or NGC.
The discovery and subsequent sale of the 1916-D Mercury Dime for $85,000 underscore the enduring fascination with rare coins. This event serves as a reminder that valuable treasures can be hidden in the most unexpected places.
Whether you’re a seasoned collector or a curious novice, it’s worth examining those old boxes and containers—you never know what you might find.
FAQs
How can I verify the authenticity of a 1916-D Mercury Dime?
Look for the “D” mint mark on the reverse side, to the left of the fasces’ base. For confirmation, have the coin evaluated by professional grading services like PCGS or NGC.
What does “Full Bands” mean, and why is it important?
“Full Bands” refers to the distinct, fully separated horizontal bands on the fasces on the coin’s reverse. Coins with this feature are rarer and more valuable.
Are there common counterfeits of the 1916-D Mercury Dime?
Yes, due to its value, the 1916-D is frequently counterfeited. Some fakes involve adding a “D” mint mark to a 1916 Philadelphia dime. Always consult a professional for authentication.