The United States Mint has a long, proud tradition of striking coins for the federal government that, at one point in time, were the most beautiful specimens in circulation. With all due respect to modern money, the Mint saves its best designs today for commemorative bullion and proof coin programs.
During the early history of the US Mint, and the early 20th century in particular, coins were struck by the US Mint featuring designs that have stood the test of time to earn a position on the list of finest American coin designs every. For a variety of reasons, some of these coins have become the rarest coins in US history. From the federal government’s collection program during the Great Depression to one-time mintages, there are numerous coins that could make the list of the 5 rarest United States coins.
In this post, we’re going to highlight four of those coins, and ask JM Bullion fans to chime in with their guesses as to which US coin is the rarest of all time.
#5: 1916-D Mercury Dime
Mercury Dime design features were created by Adolph A. Weinman the same year he developed the iconic Walking Liberty design for the nation’s half-dollar coin. The Mercury Dime featured a left-profile of Lady Liberty wearing a winged cap that was reminiscent of the Roman god Mercury, hence the coin’s name. It was also one of the few coins of its age not to feature a bald eagle on the reverse, which instead depicted a Roman fasces. This is known as a symbol of unity and strength.
The popularity of the 1916-D Mercury Dime is the result of a two-fold scenario. First, the mintage was a relatively modest 264,000 coins. While there are still plenty of these available today in varying conditions, it is the other factor that adds rarity to this coin; demand. So many collectors covet this coin in their catalog that few of them every go on sale. The average 1916-D Mercury Dime, in well-worn but damaged condition, goes for around $1,000 from an authorized dealer.
#4: 1901-S Barber Quarter
Charles E. Barber served as the sixth Chief Engraver of the United States Mint from 1879 to 1917 when he passed away. He is credited with a great deal of currency designs, including the image set known as the Barber Quarter. In production from 1892 to 1916, the Barber Quarter featured a right-profile portrait of Liberty on the obverse and the heraldic eagle of the United States on the reverse.
The 1901-S Barber Quarter is one of the rarest US coins because of its high value and very low mintage. Only 72,664 coins were struck in this year. As a result, the average value ranges from $5,000 to upwards of $20,000 for moderately circulated specimens.
#3: 1916 Standing Liberty Quarter
There’s room for debate on the positioning of two and three in this list. The 1916 Standing Liberty Quarter occupies a unique place in American coining history for a number of reasons. The design from Hermon Atkins MacNeil is one of the more unique in that it was the only coin design in American history to ever feature a bare-breasted depiction of Miss Liberty. The reverse design featured the American bald eagle in full flight.
What makes this coin rare isn’t the lack of clothing on Liberty throughout the series, but rather just on this 1916 issue. In 1917 the US Mint altered the obverse design to give Miss Liberty a chain-mail breast plate. But the uniqueness doesn’t end there. The Standing Liberty Quarter replaced the Barber Quarter, and would itself be replaced in 1932 by the iconic quarter image we all know today, featuring the left-profile bust of President George Washington.
Only 52,000 of the 1916 Standing Liberty Quarters were ever struck, which means the combination of age and low mintage have led to low availability today. The average value for low-grade, uncleaned and undamaged specimens today is around $5,000.
#2: 1893-S Morgan Silver Dollar
You can’t turn on the TV in the middle of the day or wee hours of the morning without seeing an infomercial for Morgan Silver Dollars. The Morgan Silver Dollar brought an end to the hiatus in US silver dollar coin production with its release in 1878, and remained in circulation through 1904, with a brief revival in 1921.
While 100,000 of these coins were struck in 1898, it’s not so much the rarity as the love of this design among modern collectors that makes it rare. The vast majority of coin collectors want a Morgan Silver Dollar in their catalog, but not everyone can have one. The 1893-S Morgan Silver Dollar goes for an average of $7,000 in grades of Very Fine, but runs over $100,000 for decent uncirculated specimens.
#1: Can You Guess?
UPDATE: The most rare US Coin is the 1933 Saint-Gaudens $20 Gold Double Eagle Coin!
Congrats to our Facebook Contest winner, Steve Kast!
Thanks to everyone who participated!
If you were waiting for us to tell you the rarest US coin, it won’t be that easy this week. Right now is your chance to weigh in and engage with JM Bullion. This week’s blog post is a contest that offers our devoted readers and social media followers the opportunity to win an exciting prize, if you can correctly guess the rarest coin in US history. The JM Bullion reader that guesses the correct coin has the chance to win a JM Bullion Fleece Pullover Jacket.
Here’s how you can participate in this fun contest and potentially win the prize from JM Bullion:
- This blog post will go live the morning of Friday, March 18, 2016. In order to win, you must be the first person to comment on our Facebook page’s accompanying post after 12:00 PM Central Standard Time (CST). The first reader to comment on the Facebook post after 12:00 PM CST with the correct answer wins a free JM Bullion Fleece Pullover Jacket.
American coinage history is full of examples of iconic and beloved coin designs. Keep in mind as you guess the initial mintage of the coin, as well as the conditions that led to its removal from circulation. The rarest coin in US Mint history is also the most expensive of the group.
For the full contest rules and restrictions, please see the following:
NO PURCHASE NECESSARY TO ENTER OR WIN
- Posts time stamped BEFORE 12:00 PM CST are disqualified from the contest
- Only 1 entry per person on the JM Bullion Facebook page
- No duplicate entries or ‘edits’
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ELIGIBILITY
The Contest is open to legal residents of their respective countries where not prohibited by law, who are eighteen (18) years of age or older at the time of entry who have Internet access, an active Facebook account, and a valid e-mail account prior to the beginning of the Contest Period.
PUBLICITY
By participating, each entrant grants JM Bullion permission to use his/her FACEBOOK profile name, likeness or comments for publicity purposes without payment of additional consideration, except where prohibited by law.
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JM Bullion reserves the right to adjust or shut down the contest at any time, and the right to investigate any tampering before determining a winner. This contest is not endorsed, promoted, or administered by FACEBOOK.
Good luck!
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