1940 Proof Mercury Dime

Coin Details

Auction Record

$15,295 PR69 01-12-2005 Heritage Auctions

Description

The 1940 Proof Mercury Dime is a proof dime struck at the Philadelphia Mint, part of the Mercury Dimes 1916-1945 series. With a mintage of 11,827, this is an extremely rare issue — the lowest mintage among 4 mint variants, representing only less than 1% of total production. The obverse features young Liberty wearing a winged Phrygian cap, symbolizing freedom of thought — often called the "Mercury" dime despite not depicting the Roman god and the reverse displays a Roman fasces — a bundle of rods with an axe — entwined with an olive branch, symbolizing strength through unity tempered by peace. Struck during the Great Depression, when mintages dropped sharply and the United States abandoned the gold standard in 1933. As a proof issue, this coin was struck multiple times on specially prepared polished planchets using polished dies, producing mirror-like fields and frosted design elements prized by collectors. Struck at the original U.S. Mint facility, in continuous operation since 1792. Estimated market value is approximately $230. Struck in 90% silver, 10% copper, weighing 2.5 grams, 17.9 mm in diameter, with a reeded edge. Cataloged as PCGS #5075.