Buying a 1916-D dime

With the economy as bad as it is I have been investing in HARD assets in a attempt to at least keep even with inflation. I figure with our government spending insane amounts of cash and printing more each day it wont be long before our saved cash wont be worth anything. I have been buying rare coins to put into a safe deposit box for later sale in retirement. I am considering buying this dime shown in the photos here. Any opinions on this dime would be appreciated! THANKS!!!!

 

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Welcom to coin talk! Buying hard assets, including coins, is fine. But it all depends on what you pay; and making sure that what you get is genuine, undamaged, and worth what you paid in the condition you acquired.

All things considered, bullion coins are more for investing and numismatic coins are more of a hobby and passion [although you can make some money too]. The bid/ask spread on numismatic coins is higher than for bullion.

 

It is a very good looking dime in great condition, probably going to sell in the $4000-$4500 range. A bit expensive for myself, but it would be a quality piece to squirrel away for a few years in my opinion.

 

Several things going for it.
PCGS slab is a plus.
Grade looks correct. I compared it to my PCGS F-12. This one is definitely better.
I'd say it all comes down to price now.
Greysheet Bid is $2900.
Coin Values is $4500.
It would be nice to get it for something in the $3500-4000 range.
BUT since it's a key coin that may not happen.

 

I will be buying this dime from a reputable dealer at a cost below listed price. As for gold I have also been buying 100 oz. bars for some time. I do enjoy looking at U.S. coins they are a work of art. I like this dime and I have found others in the same grade for less money but those are unslabed and I understand this dime is counterfeited often I figured it was worth paying a little extra getting it in a slab. My wife and I are 50 years old and have been blessed with more then enough money to retire on at this time all our homes and properties are paid for. We have found that our savings in CDs are not paying anything close to inflation at this time. We feel that in the next 10 years inflation will skyrocket making our savings dwindle a lot!. Basically we are looking for a good place to stash the cash and protect the value. The dimes price is $3200 I thought it was a fair price

 

Take your time purchasing a 1916-D dime. There are more counterfeits out there than there are genuine. Also, without any questions, even if you are an expert, make sure the dime is certified by a top grading service (NGC, PCGS). I know there are many who dislike the grading services, but purchasing a 1916-D dime without assurance of authenticity can easily lead to disappointment.

 

Considering it's only 10% above greysheet, and less than 20% of the difference between the greysheet and Coin Values, I personally consider $3200 an excellent price.

I look for coins to be priced less than 60% of the difference between the greysheet and Coin Values.
Obviously the lower the better.
I'd probably fall all over myself getting my wallet out for something in the 20% range.

Only thing I would suggest that you consider is getting a higher grade one.
The old "best you can afford" theory.

 

I'd love to have that dime..That's in just the condition I would buy one if I could afford it.

 

I believe the Comex gold futures contract is 100 ounces. You might be better off taking delivery of their warehouse receipt than leaving 100 ounce bars in your house or in a bank vault.

 

I agree with kanga

That sure is a nice PCGS 1916-D!!!!

 

It's a great coin to have, no doubt. But coins as an investment or even a hedge has more often than not led to little if any gains. The dollar is indeed on the rise, so if you are going to buy a coin like this, I'd buy it soon. But, buy it because you like it, otherwise you might just have another coin sitting around forever waiting to appreciate to a level you deem fit to sell at a profit, which might never happen.
Guy~

 

I believe that you can go to the PCGS website and look up the serial number on the slab to validate the coin.

The 16-D is often counterfeited, so you would always want this certified by a Tier One grading company. That goes for just about any significant numismatic purchase, actually. But, certainly, this is a nice coin in mid-grades at a reasonable price.

 

It's not a counterfeit I just verified the cert. number. It is a very nice coin (way out of my price range). I think $3200 is an awesome price!

 

Well, if you look at the famous collections, you have to admit that if these people had put the money into their main line of work, they would have come out ahead. As stellar as the Bass, Norweb, Eliasberg, Trompeter, Pittman etc., etc., sales were, they did not keep up with inflation. Coins, like gold, are a static investment. However, the theory of diversification argues for some placement in a conservative arena. Nonetheless, some of the famous coins -- like the Type III 1804 Dollar that was auctioned in Cincinnati at the CSNS last week -- were turned over in a matter of a few years, as soon as they were profitable.

 

There are many many 1916 d's out there that have never been certified. BU rolls exist. I'm just saying that a bunch could come on the market at anytime (unlike the 1895 O dime).

 

Buying 100 oz. gold bars!..for some time..at $500 oz that's $50,000 a whack...at $750 that's $75,000...

I dare say..with this kind of swag..I wouldn't worry too much about whether or not the dime is slightly over-priced..

 

GOOD POINT!
I thought about this very thing when considering this dime, but did some studying about the year this dime was made and found that not many people collected coins in 1916 and I don't think many rolls of these dimes in uncirculated condition were put away
The Washington Post jumped the gun and reported the first examples were released July 1, 1916, as planned. But this was not the case at all. Soon came reports of problem after problem the Mint was having preparing the designs for full-scale production. By the time the Mercury dime went into circulation, it was nearly four months late. The new quarter and half dollar took even longer to arrive.
However, they were well worth the wait, especially the dime. Critics described it as “quite an improvement over the old issue,” “a silvern beauty,” “far more beautiful than any since the Draped Bust issue.”
If the dime’s symbolism went unrecognized by the public, no one seemed to care very much. Weinman himself wrote a letter to The Numismatist explaining that the Mercury dime symbolized freedom of thought. To most people, however, the image represented not Liberty but Mercury, the speedy messenger of the gods in mythology. Weinman’s dime will forever be known as the Mercury dime, whether the label is accurate or not.
The symbolism on the dime’s reverse also broke new ground. There was no eagle, no wreath. Instead a bundle of rods around an ax dominated the reverse. The fasces supposedly symbolized unity and authority. At least that was the case in ancient times.
But when Woodrow Wilson was in the White House and the United States had not yet gone to war, no one seemed to know what to make of the dime’s reverse. Some people thought it pictured a golf bag and clubs, so they called it the “golf dime” for a while.
Because production of Mercury dimes began so late in the year, people might have expected the 1916-dated dimes to be rarities. Texas dealer B. Max Mehl, and Treasury officials, sent out word this would not be the case, and that there would be more than enough new dimes to go around.
The information, however, was not entirely accurate. At the Denver Mint, only 264,000 1916-dated Mercury dimes were struck. THERE WERE FEW COIN COLECTORS IN THE WEST, so the new dimes slipped into circulation and not many uncirculated examples were set aside...... I am no expert with coins (I DO LOVE TO OWN THEM THOUGH) I do believe in researching in dept all purchases I make when spending money! My wife thinks I am obsessive when doing so but I think its a responsible habit! (it took me two months to find a TV to buy)LOL! I do wish to thank all here for their opinions on my dime and I plan to be here on this forum for a long time and learn all I can!

 

by the way Danr, I looked at the 1895-O dime you spoke about and I do like its look! I may start looking for one of them too! THANKS

 

Put that history part aside, go to a coin show and see how many nice 1916 d's are there and how many 1895 O's are there.

 

That is the proof, I was talking about the New Orleans mint one.