Ultimate Dime Search

My search for a 1916-D Mercury Dime in VG-8 or VG-10 has been a painful one. At I coin show, I saw plenty of AG's, G's, an F-12 and an F-15. These were all slabbed by creditable grading companies (PGCS, NGC, ANACS). However, no slabbed VG-8 or VG-10 coins were found.

I saw some raw VG's, but I would not go for them. I do not have the knowledge of how to identify a counterfeit 16-D, which I have heard and read are quite prevalent. I talked to one guy who had a raw VG, and he did not see the merit of slabbing the coin. He for the most part (although not quoted) said "why waste $40 on slabbing the coin when it doesn't add value?"

I told him that if he slabbed it, he would pay $50 above his current asking price. Well, he said that primo grading companies would not accept that coin because it was cleaned in the past. Busted!

Overall, this was a great learning experience. Now I know why some dealers will not slab the 16-D despite the tremendous value of the coin over the trading cost. It just goes to show that you should not be shy when asking questions and digging in on the true story.

 

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I would not hesitate to purchase a raw 1916-D from a reputable dealer who is 100% willing to take it in return if you go to have it slabbed and it turns out to be a fake.

 

That would be my approach... buy it slabbed and leave no doubts on either end. Maybe I'm a little conservative, but we are talking about bookoo bucks. Play it safe and keep the transaction as simple as possible.

Anyway, what do you guys know about counterfeit 16s? And will a creditable grading company know the difference 99.9% of the time?

 

In hindsight I agree, having the dealer slab it would be a better approach.

 

1916-D mercury dime

This was an interesting thread. I fully agree with the thoughts that its best to have the dealer get the coin slabbed then buy, versus buy then slab. Please note that the 1916-D mercury dime is the most counterfeited U. S. coin out there! It is estimated that there are any many fakes as genuine ones.

This is one date that I would very careful if you bought it "raw."

That being said, the "PCGS Grading and Counterfeit Detection" book is an excellent resource for determining the authenticty of any rare coin. It points out the diagnostics for the 1916-D that are fairly straightforward.

Houston_Ray

 

I've only seen 2 in my 5 years of collecting...one was slabbed by ANACS a G-4 and the other was raw in a complet set...I asked the dealer if he was going to slab it and he said he didn't know yet....
Post some photos when you get one..
Speedy

 

I used a screenshot of this page as an illustration to my talk on Counterfeits at the Pittsburgh ANA last summer.
http://www.pcgs.com/articles/article1908.chtml

The PCGS Official Guide to Coin Grading and Counterfeit Detection by Travers and Danreuther has a bit less than the webpage, interestingly enough.

I trust any of the Big Four grading sevices, easily enough. Graders tend to be people with a lot of experience who pass tests to get their jobs. I am not a grader, but when I applied to work at Coin World, they gave me a series of coins to identify. Of course, they wanted to know that I knew something, but more to the point, they let me use the library in order to show that I knew how to find out the facts about something.

It is amusing when collectors -- especially old collectors -- say, "I've been collecting for 30 years, I've seen thousands of coins!" Depending on the company and the market a grader might see conservatively 30,000 coins a year (100 coins a day, 300 days a year) -- or more. The material tends to be at the highest end of the scales for grade or rarity.

 

Thanks to ya'll for all this superb information. It certainly was helpful and it confirmed what I've been thinking and how I want to search for this dime. I need to keep patient, which is duable since I have a 2 1/2 year old and a 2 month old.

BTW, I'm new to this forum but have looked at threads for awhile. THere's plenty of interest and knowledge.

 

I would have paid money to be there for this conversation.

In my mind, when someone sells a rare or expensive coin and it is not slabbed (without some valid reason), I am suspicious. Like the guys who sell early silver dollars on eBay unslabbed - and the monkeys who bid on them.

If it is not slabbed, I assume there is some reason why not, and that reason is one I probably would not like to hear.

 

I think the coin was for $900 and I would have paid $950 if it came out VG-8 or better. It was hilarious and a good story. But what did we learn? Do not hesitate to ask questions. And what else? Do your home work and be wary of raw 16-Ds!

 

I bought my 1916D raw at a local coin show. The date and mintmark are identifiable, but it's in terrible shape. Usually, I would recommend against buying raw in such a situation. However, the price was right enough ($200) to make me think long and hard about it. I was worried about it's authenticity, so I took it to my trusted local dealer. He was of the opinion that it is real. He thought I was really lucky to be in the right place at the right time. He even told me what he would give me for it.

And before anyone thinks he said it was real simply to make me feel good, I'm a regular enough customer that he knows he would lose a customer if he "bore false witness." It should also be noted that I'm a minister, and he knows it. I even helped in his son's wedding.

 

Could u Plz, tell me what the 3rd and 4th are? Anacs, I would think and?????? TIA

 

BAck to the great 1916-D Mercury Dime search.

Well, mywife and I are going to the Chicago Coin Show in Rosemont on the 25th to find thid dime in VG8. Any advice would be greatly appreciated. This is the biggest coin show I have ever been to. My goal is to get a nice VG8 Mercury slabbed by NGC or PCGS.

Any advice? Thanks.

 

Back to the great 1916-D Mercury Dime search.

Well, my wife and I are going to the Chicago Coin Show in Rosemont on the 25th to find this dime in VG8. Any advice would be greatly appreciated. This is the biggest coin show I have ever been to. My goal is to get a nice VG8 Mercury slabbed by NGC or PCGS.

Any advice? Thanks.

 

If you're looking for a 1916-D merc, then I'd ensure it's slabbed. Plus buy the coin not the slab, as they say.

Buying a raw 1916-D at a coin show is risky. If you decide to try it, I'd recommend getting the PCGS Guide to Coin Grading and Counterfeit Detection and reading up on 1916-D Mercury dimes. It's the most counterfeited U. S. coin out there. About half of the purported 16Ds are fake.

One challenge you're going to have is finding a 1916-D Mercury in VG condition. There are lots of them in AG3 and lots in XF or better. However, I've found it difficult to find the "middle" circulated grades for this particular coin. There out there, don't get me wrong, but it's not easy to find it.

Once again, very clearly understand grading Mercurys as five points can make a significant difference in the coin's worth for this specific date.

Last piece of advice: be patient.

Regards
Houston_Ray

 

Houston_Ray

Thanks so much for the advice. I am focusing on a NGC or PCGS slabbed Mercury Dime. I do not have the complete confidence buying raw. Call me a wimp, but I'm not taking chances here.

 

Hey DimeDud....

Your not a wimp....I wouldn't buy one raw either...but here is something for you to think about....

I have seen 2 coins...both the same date...same mintmart...both the same grade...but one is from NGC and one is from ANACS...now what I have seen is that the NGC will go for much more $$$ than the ANACS coin...so if I were you I would try to find one that is in a ANACS slab...I would trust them to have a real one...and you also save some $$...and then if a few years you need to sell all you have to do is either sell it the way it is or you can send it to PCGS or NGC for regrading...

That is one reason I like ANACS...most people don't and so you can buy key dates for less.

Speedy