What Is the 2016-W Mercury Dime Centennial Gold Coin?
In 1916, Americans were introduced to three iconic U.S. coin designs: the Mercury or Winged Liberty dime, the Walking Liberty half dollar, and the Standing Liberty quarter. To mark the centennial of the release of these three coins, the United States Mint issued new versions of each in 24-karat (.9999 fine) gold struck at the West Point Mint. Each coin was reworked using state-of-the-art digital design tools and features the date “2016” on the obverse. The reverse of each centennial coin also denotes the coin’s weight and composition.
The 2016-W Mercury Dime Centennial gold coin was released on April 21, 2016. It was struck in an Uncirculated finish so as to resemble the 1916 dime. Its diameter (16.50 mm) is close to that of a regular Mercury dime (17.90 mm) despite containing one-tenth of an ounce of gold – a symbolic nod to the dime’s 10-cent denomination.
Besides describing some of the differences between the new coin and the original, the following video provides a 4K hands-on experience with a “perfect” example certified by NGC as SP70.
A Brief History of the Mercury (Winged Liberty) Dime
The original Winged Liberty dime entered circulation at the end of October 1916 and remained in production for nearly 30 years. Alongside the Walking Liberty half dollar and Standing Liberty quarter, it joined the Indian Head (Buffalo) nickel, the Lincoln cent, the Indian $2.50 quarter eagle and $5 half eagle gold coins, and the Saint-Gaudens $10 eagle and $20 double eagle gold coins in circulation.
It was truly a golden age of U.S. coin design.
Adolph Weinman’s elegant design for the Mercury dime drew heavily from the French Beaux Arts movement of the late 19th century. Its release immediately preceded the Roosevelt dime (1946-Present), and it was the last U.S. dime to be struck entirely in .900 silver.
Heralded for its beauty, the Winged Liberty dime–often referred to as the Mercury dime due to its classically inspired headgear–saw the country through both World Wars and the Great Depression. Its unmistakable design was attached to both the March of Dimes anti-polio campaign and countless Charles Atlas advertisements found in the back of comic books and magazines. When “Yip” Harburg wrote the song “Brother, Can You Spare a Dime?”, it was the Mercury dime he was talking about.
The dime’s use in circulation carried on without incident. The design didn’t have the striking problems of the Buffalo nickel or the Walking Liberty half. Although specialists might seek out perfectly struck examples with Full Split Bands on the reverse (scarce for some issues), the Mercury dime is remembered as an elegant and practical coin; a successful coin that served its purpose and elevated the image of American money.
The Mercury dime’s term of service came to an unexpected end when, on April 12, 1945, President Franklin Delano Roosevelt died. Frail and aged beyond his 63 years, Roosevelt suffered a massive cerebral hemorrhage while on vacation in Georgia. His death reverberated throughout America and the world.
Almost immediately, a movement began to honor Roosevelt on a circulating coin. The dime was the obvious choice as the denomination recalled both Franklin’s battle with polio and his work with the March of Dimes, and on May 17, Treasury Secretary Henry Morgenthau, Jr. announced that the Winged Liberty design would be replaced by a new design featuring the portrait of the late president.
So with that, the stellar 30-year run of the Winged Liberty or Mercury Head dime came to an end. Steadily, the coins in circulation wore down, Mint State examples were hoarded, rare dates and varieties were cherrypicked, and by the time silver coins exited the scene in the mid to late 1960s, only the most worn examples continued to circulate.
Release, Sellout, and Re-Release of the 2016-W Mercury Dime Centennial Gold Coin
As stated earlier, the 2016-W Mercury Dime gold coin was released on April 21, 2016. Priced at $205 USD according to the Mint’s pricing schedule for gold and platinum products at the time, it had a mintage limit of 125,000 pieces and an initial order limit of 10 coins per household. Each piece was sealed in a circular capsule and came with an elegant, custom-designed black-matte hardwood presentation case and a Certificate of Authenticity.
Within 15 minutes of the coin’s noon Eastern Time release on the Mint’s website, the order status had already been changed to “Backorder”. Less than an hour after its release, the 2016-W Mercury Dime gold coin was listed as “Unavailable” by 12:45 PM. This meant that all available…
Read More: 2016-W Mercury Gold Dime : History & Value