In a recent and astonishing discovery, rare coin collectors and historians were abuzz when a 1916‑D Mercury dime— one of the United States’ rarest circulation dimes—was unearthed from a time capsule hidden beneath a church floor.
This extraordinary find has been valued at approximately $26,000, offering a remarkable glimpse into numismatic history and early 20th-century coinage.
What Makes the 1916‑D Mercury Dime So Rare?
- Limited Mintage: The Denver Mint produced merely 264,000 Mercury dimes in 1916—the lowest output for any circulation Mercury dime.
- Mint State Survivors: Only about 700 examples remain in Mint State (uncirculated) condition, with around 600 identified as Full Bands (FB)—a premium classification.
- Collector Demand: Recognized as a key date, third only to such staples as the 1909‑S VDB Lincoln cent, the 1916 Standing Liberty quarter, and the 1916‑D Mercury dime itself. The rarity was highlighted when collectors began filling coin boards in the mid‑20th century.
The Church Time Capsule Discovery
During a renovation project at an early 20th-century church, workers uncovered a sealed time capsule beneath the floorboards. Inside lay:
- Old parish records
- A newspaper clipping from 1916
- The now-famous 1916‑D Mercury dime, encased in protective sleeves
Experts quickly authenticated the coin as genuine, graded at MS63 (Mint State 63), with Full Bands detailing intact. Armed with this grade, auctioneers and numismatic authorities estimated its value at around $26,000—consistent with market trends for similar specimens.
Price Breakdown by Grade
| Grade | Description | Approximate Value |
|---|---|---|
| G4 (Good) | Heavily circulated | $1,500 |
| F12 (Fine) | Moderate detail remains | $3,750 |
| XF40 (Extremely Fine) | Sharp wear, most features clear | $8,500 |
| MS60 (Uncirculated) | Mint-quality, minimally handled | ~$22,500 |
| MS63 FB | Time capsule coin grade | ~$26,000 |
| MS64 FB | Higher gem quality | ~$37,500 |
| MS65–MS66 FB | Premium gem—to ultra-rare | up to $72,000 |
Historical Context of the 1916‑D
- Adolph A. Weinman, famed sculptor, designed the Mercury dime, introduced in 1916 as a replacement for the Barber dime.
- Late-year minting: Production began late in the year, overlapping with final Barber dime production.
- Reallocation of Mint tasks: The Denver Mint shifted its focus mid‑November 1916 to produce over 6.5 million Barber quarters to fulfill urgent orders, halting Mercury dime production early.
Why the Church Coin Is So Valuable Today
- Pristine Condition: An MS63 FB grade ensures exceptional eye appeal and crisp details—rare for over‑century-old circulation coins.
- Full Bands (FB) Detail: Tightly struck and sharply separated bands on the fasces, a hallmark of premium quality.
- Authenticity Guaranteed: Verified through reputable grading services, adding trust for buyers.
- Standout Provenance: The story—found in a 100-year-old church time capsule—adds historical flavor, driving collector interest and emotional value.
Notable Auction Results
- An MS66+ FB specimen sold for $72,000 in 2020.
- A high-grade MS67 FB example fetched $204,000 in the same year.
- A Spring 2023 Stack’s Bowers auction presented an MS‑grade 1916‑D for $28,800.
These figures show the explosive demand for high-grade Mercury dimes with strong strike characteristics and documented provenance.
The Broader Market
As of mid‑2025, market guides estimate:
- Circulated pieces: $850–$12,650 depending on wear
- Uncirculated MS quality: $20,000 and above
- Full Bands designation: Adds thousands more in value
Market trends show enduring appreciation as high-grade survivors become scarcer and demand among collectors increases.
The remarkable discovery of a 1916‑D Mercury dime from under a church floor, graded MS63 Full Bands, and valued at $26,000, is a modern testament to the enduring mystique of American coinage.
With its limited mintage, historical significance, and exceptional condition, this dime is a rare treasure. Enthusiasts and collectors will surely keep an eye on future sales, especially as other high-grade specimens continue to fetch six-figure sums.
Stories like this continue to prove that everyday relics from the past may hold incredible value and historical importance.
Frequently Asked Questions
1. What makes a 1916‑D Mercury dime so valuable?
Due to its very low mintage of 264,000 and relative scarcity in uncirculated condition, the 1916‑D is a key date in the Mercury dime series. Grades above MS60 command significant prices due to collector demand and rarity.
2. What does Full Bands (FB) mean?
A Full Bands designation indicates sharply struck horizontal bands on the fasces on the reverse of the coin. This detail is a sign of a premium-quality strike and can significantly boost a coin’s value.
3. How does the time capsule discovery affect value?
While coin grade and rarity are primary value drivers, the story behind the coin—such as its discovery in a church time capsule—adds historical appeal and collector intrigue, often increasing auction interest and sale price.