Beloved by both casual and seasoned collectors, the Mercury dime (officially known as the Winged Liberty Head dime) is widely admired for its elegant design and storied background. Minted from 1916 through 1945, this classic ten-cent piece is an essential component of many U.S. coin collections. Below, we explore the fascinating history behind the Mercury dime, its iconic design, notable dates, collecting approaches, and best practices for long-term preservation.
The Mercury dime was designed in 1916 by Sculptor Adolph A. Weinman. On the obverse (front) of the Mercury dime, Liberty appears wearing a close-fitting cap adorned with small wings at the side, emblematic of freedom of thought. The inscriptions “LIBERTY,” the motto “IN GOD WE TRUST,” and the date appear on the obverse as well. On the back, a bundled rod with an axe blade (fasces) symbolizes strength and unity in ancient Roman iconography. It is entwined with an olive branch, signifying peace. Encircling the design are the inscriptions “UNITED STATES OF AMERICA,” “E PLURIBUS UNUM,” and “ONE DIME.” The mint marks are located on the left of the fasces on the reverse near the olive branch. Possible mint marks include “D” (Denver) or “S” (San Francisco). Philadelphia issues have no mint mark for most of the series. Proof Mercury Dimes were struck in limited quantities from 1936-1942.
In the early 20th century, calls for more artistic and modern U.S. coin designs gained momentum. Under an 1890 law, coin designs could be changed after 25 years without additional Congressional approval, paving the way to replace the then-current Barber dime, which had been produced since 1892. In 1916, the U.S. Mint held a limited competition for new designs of the dime, quarter, and half dollar. Sculptor Adolph A. Weinman’s entry for the dime was selected, introducing one of the most admired motifs in American coinage history. Weinman’s obverse depicts Liberty wearing a Phrygian cap with wings symbolizing freedom of thought. Many mistook this winged Liberty for Mercury, the Roman messenger god—hence the coin’s lasting nickname, the “Mercury dime.” From its first release in late 1916, the design captured the public’s imagination and remained a fixture in U.S. pocket change for nearly three decades.
Sculptor Adolph A. Weinman envisioned a portrait of Liberty wearing a close-fitting Phrygian cap—an ancient symbol of freedom—adorned with small wings to represent freedom of thought. Although the portrait was quickly likened by the public to the Roman messenger god Mercury, Weinman’s artistic intention was to personify American liberty in a fresh, modern style that captured the spirit of progress and enlightenment. Released late in 1916, the new dime proved to be an immediate success with the public. Its combination of graceful artistry, symbolic detail, and crisp execution sharply contrasted the stoic, more utilitarian Barber designs, paving the way for a renaissance in American coin aesthetics.
Production of Mercury dimes started just as the United States was on the verge of entering World War I, continued through the prosperous “Roaring Twenties,” and then into the challenging years of the Great Depression. Each of these eras affected how many dimes the U.S. Mint produced. During the 1920s, mintages rose in response to growing economic activity; by contrast, the Depression led to decreased demand for new coins, resulting in smaller production runs in some years. While striking the new design, the Mint had to address technical challenges with the high-relief elements—particularly on the reverse fasces—ensuring that dies were manufactured carefully to capture Weinman’s subtle details. Still, inconsistencies in striking pressure occasionally led to weaker strikes, which later fueled the demand for high-grade or full-band specimens among collectors.
Mercury dimes circulated heavily during the second global conflict, especially as metal consumption and economic policies shifted to support the war effort. Even so, the Mint maintained dime production to satisfy the needs of commerce, producing some of the highest-volume Mercury dime issues in the 1940s.
After the passing of President Franklin D. Roosevelt in April 1945, calls to commemorate his leadership (and his advocacy for polio research through the March of Dimes) spurred the development of a new dime. The last Mercury dimes were produced in 1945; by early 1946, the Roosevelt dime debuted, thus concluding the Mercury dime’s nearly three-decade run. Yet, the Winged Liberty design—celebrated for its blend of neoclassical imagery and modern aesthetics—remains among the most revered coins in American numismatic history.
Several Mercury Dimes are particularly sought after due to low mintages or historically significant runs.
One of the most important factors affecting both collector interest and pricing in Mercury dimes is whether or not the fasces bands on the reverse are fully separated. The high point on the reverse design of the Mercury dime is the two center, horizontal bands that bind the fasces together. On well struck examples, the two bands will show full seperation. On weekly struck coins or coins produced from worn dies, the seperation of the horizontal bands will not be visible.
Full Band Mercury Dime
Image: BrandonBigheart for the photograph; Adolph Weinman for the coin design., via Wikimedia Commons
By focusing on Full Bands, collectors turn even common-date Mercury dimes into prized finds. For key dates like 1916-D or 1942/1 overdates, an FB designation in a high numeric grade can result in exceptionally high auction prices.
A comprehensive set of Mercury Dimes including all mint marks and variations is a challenging and rewarding way to collect Mercury Dimes. Certain varieties can be costly, so patience is essential. If a full-band date-and-mint set is too daunting (or costly), consider specializing in a specific mint mark or year range.
Needless to say, there is no wrong way to collect Mercury Dimes (as long as you're not cleaning them!).
Grading Mercury Dimes can be both an art and a science. Organizations like the Professional Coin Grading Service (PCGS) and Numismatic Guaranty Company (NGC) offer standardized grading. There are lots of resources out there to learn grading (both free and paid). Here are the various grade levels to consider:
Because even small differences in grade and/or the full-band designation can significantly impact a Mercury Dime's value, learning the nuances of coin grading—or consulting a professional grading service—can help protect your investment and ensure fairness when buying or selling.
The Mercury dime is a cultural and artistic touchstone in American numismatics. From its genesis in the era of progressive coinage redesigns to its final bow during World War II, this coin represents not just spare change in our pockets but also a legacy of freedom and innovation. Whether you’re drawn by the challenge of the 1916-D key date, the allure of the 1942/1 overdates, or the pursuit of eye-catching Full Bands examples, the Mercury dime offers endless possibilities for building a unique and rewarding collection. By familiarizing yourself with key rarities, grading nuances (especially regarding Full Bands), and proper preservation methods, you’ll be well on your way to appreciating and cherishing one of the most enduring designs in all of U.S. coinage.
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