1923

Production of Mercury Dimes resumed in 1923 after the Mint skipped the denomination entirely in 1922, a one-year gap caused by sufficient circulating stock and a Treasury focus on Peace Dollar output. Philadelphia answered with a heavy run of 50,130,000 pieces, and the issue moved into commerce easily during a strong economic stretch. Circulated examples are abundant in nearly every grade, and roll groups survived in enough numbers to keep Mint State coins reasonably available. Strike quality on Philadelphia dimes from this period generally runs stronger than the Denver and San Francisco branches of the same era, which improves the odds of finding a well-defined fasces. Saver enthusiasm picked up again with the resumption of production, and contemporary commentary in numismatic columns of the day noted the return of the type to circulation after the missing year.

Adolph A. Weinman's design remains intact through this date, with Liberty in her winged Phrygian cap on the obverse and the fasces wrapped with an olive branch on the reverse. Composition stays at 90 percent silver, 10 percent copper, 2.5 grams, 17.9 millimeters, reeded edge. The Full Bands (FB) designation, awarded by Professional Coin Grading Service (PCGS) and Numismatic Guaranty Company (NGC) when the two horizontal bands across the central fasces are fully separated, is moderately attainable on the 1923 but commands a clear premium at the upper grades. Detail to examine includes the cheek, the wing feathers, and the lower fasces wraps for indications of original mint luster versus light cleaning. The reeded edge should show even spacing without flat spots that point to a repair or harsh rim work.

For type collectors the 1923 is a friendly target in MS-65, and date-set builders rarely struggle to source one. PCGS and NGC populations show a steep climb in FB grades above MS-66, with high-end examples crossing the block at Heritage Auctions and Stack's Bowers Galleries. Read the full Mercury Dime series history.