The Mercury Dime is one of the marquis offerings of the US Mint, though it hasn’t been produced for quite some time. First introduced in the early 20th century, the Mercury Dime was put to use by US citizens as it was a very useful coin. Today, collectors are eager to get their hands on these pieces of US history, but only at the right price.
Seeing as collectors naturally strive to acquire only coins that are in excellent condition, collecting Mercury Dimes becomes difficult. Not only are there 2 to 3 different types of these coins minted every year, they were often circulated heavily and therefore in poor condition.
When it comes to collectors and coins as old as the 1923 Mercury Dime, the condition of the coin is everything. Before ever purchasing a piece this old, you will see collectors closely inspect the condition of the coin so that they can identify any and all imperfections.
Under normal circumstances, the process of judging and assessing the condition of a coin as old as the 1923 Mercury Dime is something that is best left to professional grading services. With that said, we know that not everyone can afford or has time to get their coins graded. Knowing this, we have provided some grading specifications below to familiarize you with the characteristics of a graded Mercury Dime.
Uncirculated: A coin that is graded as being Uncirculated is one that never saw time on an open exchange market. These pieces were instead taken right off the production line and kept in a safe place over the years. This high grade is indicative of coins that have retained all of their texture and imagery, and even some of their original shine.
Extremely Fine: Graded to be Extremely Fine, Mercury Dimes in this condition are ones that have only been circulated for a short period of time. These coins will have retained most of their texture and imagery and will only show light signs of wear. For collectors, these coins are a great addition.
Fine: Coins that receive this grade will have been exchanging hands for a good bit of time and will have incurred some damage during that time. You will find that the heaviest damage is typically found in the form of the smoothing of the images and inscriptions. Most often, the most significant smoothing can be found near the pillar and around the wings of Lady Liberty’s headpiece.
Good: Good is the grade given to coins that were circulated for decade upon decade. These coins will have incurred any number of different types of damage, including scratching, chipping, and even bending. The imagery and inscriptions will be difficult to make out and the coin will appear very worn.
When it comes to giving the Mercury Dime a price, there are two things you must consider. First, you must consider the type of coin it is. Because most years saw multiple types of Mercury Dimes produced, the type of coin matters a lot. Beyond this, it is all about condition. As was made clear above, collectors are willing to pay a lot more for coins that have been well-preserved. The chart below will give you a good idea as to what the price of a graded 1923 Mercury Dime will be if you are given the type.
|1923 Mercury Dime||$3||$3.50||$7||$16|
|1923 Mercury Dime (S)||$3||$8||$65||$105||Source: Red Book|