The dime was the first coin made by the U.S. Mint, even before any Mint building existed. George Washington ordered the first run of dimes in 1792, which were made on a borrowed press kept in the owner’s basement.
The first dime produced in a U.S. Mint building was struck in 1796. The earliest 10-cent coins pictured Lady Liberty, either in bust or full profile form. From 1916 to 1945, designers put wings on Liberty’s head, leading people to mistake her for Mercury. (Today, these dimes are referred to as Mercury Dimes.) President Roosevelt’s image first appeared on the dime in 1946.
Traditionally, dimes were predominately silver, though some early ones were made of copper due to a silver shortage. The Coinage Act of 1965 removed all silver, replacing it with a combination of copper and nickel.
Like other coins, the most valuable dimes survive the years in mint condition. This does not mean the coin appears as it did when it was minted. Changes in coloration are normal and even expected. Cleaning a coin may detract from its value. The dimes that command the most value are in excellent condition and rare, due to various reasons, including production errors, small quantities produced or large quantities melted for their silver content.
Two organizations certify coins, the Professional Coin Grading Service (PCGS) and the Numismatic Guaranty Corporation (NGC). Both use the Sheldon Scale to assign a numerical rating, from 1 to 70. Coins rated 60 or higher are also referred to as “mint” state coins and are considered the most valuable.
These are 25 of the most valuable dimes, and they are worth a combined $8.6 million.
Bottom Line: 1916 D Full Band Mercury Dime
In 1916, the U.S. Mint modernized the dime, transitioning to a design created by Adolph A. Weinman. While the San Francisco Mints continued to produce the old Barber dimes and the Philadelphia Mint produced both versions, the Denver Mint only produced the new design. By November, the number of dimes had met the national demand, so the Denver Mint ceased producing dimes.
Only 264,000 1916 D dimes were produced. The PCGS has graded 24 dimes full band with varying mint certifications. The full band designation indicates that the coins were struck from fresh dies, resulting in greater detail in the central band on the reverse side of the coin.
This is one of the six highest-rated mint full band dimes of this year. A 1916 D dime in slightly lower condition brought $152,750 at auction in 2013 while one in 2015 brought $94,000. Yet another 1916 D dime in almost as good condition also sold at auction in 2015 for $43,475.
