1926-S Mercury Dime

The story of the 1926-S

Production at San Francisco fell off a cliff in 1926. Only 1,520,000 were made, against 5.8 million the year before. That drop is why the 1926-S is the one people look for. The next year it made 4.8 million (1927-S).

The other mints made far more that year: 1926 alone came to 32 million, roughly 21 for every 1926-S. If you're checking a pile of 1926 coins, the S is the one to look for. In the whole series, its mintage sits closest to the 1931-S (1,800,000) and the 1931-D (1,260,000).

Of the 25 Mercury Dimes San Francisco struck between 1916 and 1945, this is the scarcest. Within the 1920s it's 3rd smallest of 25, between the 1921 (1.2 million) and the 1928-D (4.2 million).

More on the 1926-S

San Francisco struck only 1,520,000 dimes in 1926, the lowest Mercury dime mintage from that mint and the smallest figure of the 1920s outside the two 1921 issues. The other two mints were far busier that year, with 32,160,000 at Philadelphia and 6,828,000 at Denver, so the S version is the one to watch for when you sort a group of 1926 dimes.

The 1926-S is a semi-key that turns up mostly in Good to Very Good. Many examples were softly struck, so even uncirculated coins can show weak hair detail and indistinct center bands. Full-band pieces are scarce. Read the S carefully, as a weak or filled mint mark can be overlooked. A worn coin with a clear date and mint mark carries a collector premium. For anything better than Fine, look for natural, even wear and original surfaces. Avoid coins that have been polished or whizzed to look brighter.

The late 1920s and the Depression (1926 to 1931)

Philadelphia struck between 19,480,000 and 32,160,000 dimes a year from 1926 to 1929, while Denver and San Francisco usually made between about 4.2 and 7.4 million each. The exception is the 1926-S. San Francisco produced only 1,520,000 that year, the smallest mintage of the decade after the 1921 issues. Most survivors are worn and softly struck. It is a semi-key and scarce in any grade above Fine.

The Depression then cut demand sharply. Philadelphia's output fell to 6,770,000 in 1930 and 3,150,000 in 1931. San Francisco struck 1,843,000 and 1,800,000. Denver skipped 1930 entirely before making 1,260,000 in 1931, the third lowest Denver figure of the series after the 1916-D and 1921-D. The 1931-D is counted among the semi-keys. As with 1923, there is no genuine 1930-D dime; any coin with that date and mint mark is a fake.

Dimes from these years usually turn up in Good to Fine. Their low mintages make the 1930-S, 1931-D and 1931-S more desirable than the Philadelphia dates in every grade. For the common dates of 1926 to 1929, condition and strike decide the premium. Look at the center bands of the fasces and the hair above Liberty's forehead. Then make sure the mint mark at the lower left of the fasces is crisp and properly placed. Every dime of these years is 90% silver, so even the most worn common date is worth more than face value.