Completing this Mercury Head Dime collection worth trying?

The 1921's will wait here patiently either way I go with them. Don't call it a comeback!

 

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Now a question:

The 1877 IHC has a mintage of 852500. It was saved when it came out.

Six years earlier, the 1871-S half dime came out. It was not saved, and completely ignored. It has a mintage of 161000.

Why?

 

I would forget the 16-D and fill the open holes with coins that match the color and grade of the rest of the set.

 

Those PCGS estimates are a complete fantasy and can't be remotely accurate. The mintage for both is over one million and modern style collecting in the US dates back to the 1930's. These coins aren't remotely old enough where the survival rate can possibly be that low.

I checked the NGC population reports and there are about 1000 for each, with all of the FB as MS. These coins aren't worth enough where low grade (as in circulated) graded examples will have hardly any duplicates.

I also checked eBay just now and though I can't filter out the actual examples, 1213 listings came back in the results for 21 and 21-d.

I'd say the actual number is at least 10 times the estimates you provided, if not a lot more. Because if it was not, the price would be much higher and it would be a lot harder to buy.

 

The 16-d is a "key" date in all grades. I suppose the 21 and 21-d might be to Mercury dime collectors (that's how I used to think of it) but I don't believe those who don't collect the series think so in equal proportion.

I suspect there are proportionately a large number of collectors who speculate in key dates, including the 16-d, who do not collect the series. Also, per my prior post, I don't believe the PCGS estimates for the 21 and 21-d are remotely accurate.

 

I'd complete the set minus the 16-D and then spend the 16-D money on a low mintage, low survivor Liberty Head gold coin.

(I personally do not plan to buy a 16-D anytime soon, but if you want to, go ahead, as long as it's slabbed. Authentication tips here: http://tinyurl.com/zvpqe3u)

 

Does anyone else think that because the 16 D was faked. And, due to that fact it has to be checked and re checked by the tpg to authenticate. Thus causing the rarity/ high price?

 

Not me. I don't see how fakes would make the price higher -- only lower, as they satisfied demand from naive collectors. And the 1916-D (and 1909-S VDB) were priced out of proportion to their scarcity long before TPGs came into existence.

 

Correct. My 1965 Red Book lists the 16-d at $1000 in "UNC". The 09-S VDB at $335. Both of these coins were very expensive at the time, far higher relatively versus today compared to collector income and net worth and also (much) higher versus other coins which have surpassed them since.

 

Recently read an article that explains the 1877 IHC, while the mintage was listed at 852K, it's very likely that only 250,000 or so were actually minted. You may want to research that. If I can find the link again, I will post it.

 

I believe you'll find that the actual availability of the 21s Mercury dime is greater than estimated by PCGS, readily available on eBay and other sites. It would seem impractical for anyone with "Common Sense" to spend more for grading than they would realize by a sale.

Although the grading/shipping/insurance costs for a 1st tier TPG is considerable, many of us will risk the expense, hoping that the "top tier" TPG may grade to the A.N.A. published standard. The results are often erratic.

The published standard for VG8 Mercury dime is as follows, "Obverse: Entire head is weak, and most details in the wing are worn smooth. All letters and date are clear. Rim is complete., Reverse: About half the vertical lines in the fasces are visible. Rim is complete. Here is a certified VG08 example of a seemingly scratched both Obverse and Reverse, incomplete Reverse rim with ? fasces vertical lines.
http://www.ebay.com/itm/1916-D-Merc...522422?hash=item2a69e947f6:g:970AAOSwY0lXR81y

I've also attached a copy of a certified G06 coin, which is believed to meet/exceed? the VG8 standard used by the same certifying TPG for the previously linked VG8 graded coin.

I've a 1916D Mercury coin that has virtually identical criteria for grading except it has a fully outlined Obverse hair-line, minimal scratches on the reverse, has both full rims, and a segment of majority vertical lines in the fasces is seen. It was returned by the same TPG graded G04. I offered that coin in this venue at "fair market" G04 price, without interest.

I've another 1916D Mercury coin that has detail meeting the published G04 standard, certified by the same TPG which is unmarked, Obverse rim shown, full date, completely outlined Reverse fasces. It was returned as AG03 grade.

Based on personal observations, I believe that the best value for locating authentic desired date/condition Mercury dimes, can be realized by purchasing from those offered on Ebay.

JMHO

 

I've got my Mercury Dime collection in a Dansko Album, and I've been gradually filling the holes over the years I've been collecting. The one coin I'm missing- and I guess this is the one just about everybody is missing is the "Ta Da": 1916-D. I'll keep looking, but I haven't found one , in the condition I want, for the price I want to pay. My philosophy is that if you look long enough, you'll find it in the place you least expect.

I have a Peace dollar set that is AU to UNC and I needed a 1928 in either condition to complete the set. I kept waiting for the right one to come to me and one day a friend passed away and his wife asked me to liquidate her husbands collection. He had two 1928s in Au to UNC conditions. I sold his coins, at a nice profit for his two daughters who were in college, and in gratitude they sold me one of the 1928s at less than wholesale price. They wanted to give it to me, but I wouldn't take it, so we finally compromised and I bought it at a very good price. They still got the money they needed and I got the coin I was looking for.

 

Be very patient finding the 16-D that you like. Also, and this is imperative IMHO, get a certified PCGS or NGC coin.There are many many fake 16D's out there!!

 

I totally agree with you, but there's two reasons I would tend not to get a certified one: 1) I'd hate to break open the slab to put it in my album (I know some people just put a note in the slot that they have it certified) and 2) I'm good friends with the owners of a local jewelry shop and they have one of those very expensive machines that you put a coin/jewelry into the top, close the lid, push the button and it tells you what metal it is and the percentage of the metal. I just had an Athena/Owl Ancient checked for my wife and the machine read 89% silver, that plus the size and weight were right so I bought it with the condition that I would send it to NGC Ancients for certification. I'd do the same with any raw 1916-D Mercury that I was considering buying raw.

 

Mont - be very very careful - the metal content machine detection is insufficient to determine a genuine 16-D. About 90% of these mercury dimes out there are counterfeit. I have seen several examples of these, and it is amazing what people can do to doctor up a coin. Do a lot of research as you will be spending a lot of money for this. But to be safe, buy certified through NGC or PCGS.

 

An article by eBay: http://www.ebay.com/gds/1916-D-merc...spot-them-and-avoid-/10000000001222100/g.html

An article by PCGS: http://www.pcgs.com/News/Counterfeit-Detection-Alert-I-264000-Minted-500000-Known-To-Existi

Hmmm! They state that exactly 500000 are known to exist. IMHO, Statements may be credible as the grades on the 1916D four specimens cited in my previous post.

You Decide!

 

Both Dimedude2 and imrich, I surrender. You've both convinced me to buy a certified 1916-D Mercury dime instead of a raw one if I find one I can afford. I have the album of Mercury Dimes, but it's not a series I'm really into, as a result, I had no idea how many of them were counterfeited.

Thanks to the both of you I have learned something new, I guess the old saying "you're never to old a coin collector to learn something new" is true.

I maintain the coin club I belong to collection of counterfeit coins as an educational tool for our members, I'm adding a few to the end of this post. I'm just posting scans not photos, just because I'm lazy. Notice how the "Silver Eagle" is to big for the blank it's minted on. None of them react to a magnet. The fake $5 Indian Head is zinc and copper.

 

The date on the "Silver Eagle" is 1906...

 

I guess the counterfeiter wasn't to bright.

 

If you do buy a certified 1916-D dime, do not crack it out for the album. Instead, buy an additional 1916 in the same grade as the certified 16-D and put it in its spot in the album. If you ever sell the slabbed 16-D, you'll have to take the 16 out of its slot in the album.