1921-D Mercury Dime

The story of the 1921-D

Production at Denver fell off a cliff in 1921. Only 1,080,000 were made, against 19 million the year before. That drop is why the 1921-D is the one people look for. After that, Denver didn't make another until 1924.

1921 came to 1.2 million, so neither mint's 1921 coin is much scarcer than the other. In the whole series, its mintage sits closest to the 1931-D (1,260,000) and the 1926-S (1,520,000).

Only the 1916-D has a lower mintage among Denver's 25 Mercury Dimes. No Mercury Dime of the 1920s had a smaller run.

More on the 1921-D

Denver's 1,080,000 dimes of 1921 are the second lowest mintage of the series after the 1916-D. That figure represents a drop of roughly 95% from Denver's 19,171,000 of 1920. Denver was the only branch mint striking dimes in 1921, but its silver was mostly going into Morgan dollars, of which it struck more than 20 million that year.

Some specialists argue that the 1921-D is harder to find than the 1916-D in nice condition, because so few were set aside. Most survivors are heavily worn. Fortunately many were well struck: more than half of the uncirculated survivors show full center bands. Small die cracks are not a problem; they are part of a coin's character. Check that the D is crisp and properly placed and that the date reads 1921 clearly, then grade from the hair and fasces. Expect a collector premium in any grade, with uncirculated pieces bringing far more.

A slump, a missing year and the 1921 semi-keys (1921 to 1925)

After the war the economy turned down and the Mint had plenty of dimes on hand. Silver was also going into Morgan dollars under the Pittman Act. Philadelphia struck just 1,230,000 dimes in 1921 and Denver 1,080,000, down from 59 million and 19 million the year before. San Francisco made none. No dimes at all were struck in 1922, the first year without them in nearly a century.

The 1921 and 1921-D are the semi-keys of the series. Few were set aside when new, so most survivors are heavily worn and uncirculated pieces are scarce. Production resumed in 1923 with 50,130,000 at Philadelphia and 6,440,000 at San Francisco. Denver struck no dimes that year, so a 1923-D Mercury dime is a counterfeit, whatever its condition. From 1924 all three mints were active again, with the branch mints making between about 5.1 and 7.1 million each and Philadelphia about 24 to 26 million.

Even a well-worn 1921 or 1921-D with a readable date carries a collector premium, so a coin with a clear date and full rims deserves a careful look before it goes in a pile of common silver. The branch mint coins of 1924 and 1925 are easy to find in worn grades but are often softly struck, which makes sharp uncirculated pieces with full bands difficult. The 1925-D, at 5,117,000, is the lowest mintage of those years.

Elsewhere in US coinage in 1921

Morgan dollar production resumed to replace the coins melted under the Pittman Act. In December the Peace dollar by Anthony de Francisci was introduced, struck in high relief that first year.