1921 Mercury Dime

The story of the 1921

Production at Philadelphia fell off a cliff in 1921. Only 1,230,000 were made, against 59 million the year before. That drop is why the 1921 is the one people look for. After that, Philadelphia didn't make another until 1923.

1921-D came to 1.1 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).

Of the 27 Mercury Dimes Philadelphia struck between 1916 and 1945, this is the scarcest. Among the 1920s issues, only the 1921-D had a smaller run.

More on the 1921

Philadelphia struck just 1,230,000 dimes in 1921, a fall of about 98% from the 59,030,000 of 1920. The postwar slump had left the Treasury with plenty of small change. The Mint's attention was on silver dollars under the Pittman Act. The result is a Philadelphia semi-key with a mintage only slightly above the 1921-D's.

A weak strike or a worn die can make the date, LIBERTY and the rim lettering look weaker than the coin's real wear suggests. That makes grading tricky. Judge wear on the high points, the hair above the forehead and the center of the fasces, rather than on the rims. Most survivors are in Good to Fine because few were saved when new. A clear date is essential, since the last digit is what separates this coin from far more common dates. Even a worn piece with a readable 1921 carries a collector premium. Uncirculated coins are scarce and should be bought certified.

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.