1927-S Mercury Dime : A Collector’s Guide

By Charles Morgan and Hubert Walker for CoinWeek Notes …..
 

1927 was a banner year for progress in America. Charles Lindbergh crossed the Atlantic Ocean in his plane Spirit of St. Louis, the Ford Model T gave way to the Model A, The Jazz Singer (a film that absolutely could not be made today) starring Al Jolson’s heralded the arrival of the talkies, and Babe Ruth clobbered 60 home runs on the way to leading the New York Yankees’ “Murderer’s Row” to a four-game World Series sweep of the Pittsburgh Pirates.

With all this “good news” came a portent of things to come. In Europe, German central bankers, fearing a bubble in the lending markets, implemented credit restrictions that spiked interest rates, leading to a stock market crash and a return to the economic hard times of the decade before. By late 1929, over two million Germans would be unemployed. This crisis was a significant factor in the rise of the Nazi Party.

Coinage at the San Francisco Mint

The San Francisco Mint struck seven coin denominations in 1927, the most consequential for collectors being the 1927-S Saint-Gaudens Double Eagle. Despite a mintage of over three million, this coin did not circulate to the degree that all other 1927 S-Mint coins did, and only a few hundred survived the gold melt of the late ’30s. The typical example grades MS62 to MS63 and trades for over $50,000 (a bargain compared to the key date 1927-D!).

San Francisco struck all four silver denominations. San Francisco’s production of 2,392,000 1927-S Walking Liberty Half Dollars marked the first halves struck at any branch mint since 1923. As for the 1927-S Mercury Dime, the San Francisco Mint produced 4,770,000 coins. This emission falls on the lower side of a typical S-Mint Mercury Dime, but the issue is not scarce until one reaches Choice or better Mint State grades.

What Is the 1927-S Mercury Dime Worth?

Circulated examples of the 1927-S Mercury Dime routinely sell on eBay for $15 and under in grades up to Fine. Through the upper register of circulated grades, expect to pay between $300 and $500 depending on the coin’s condition. Many of these sell as “raw” coins, so collectors need to be vigilant against counterfeits and harshly cleaned coins.

Less common are coins in Mint State. For these, only buy coins certified by CAC, NGC, or PCGS. A “wholesome” NGC MS62 example sold on eBay in September for $634. In June 2023, a PCGS MS63 sold at Heritage for $1,020.

Examples with Full Bands are preferred by collectors in grades MS65 and above. At present, fewer than 100 examples have been certified at this level, and these coins are priced accordingly. Expect to pay at least $5,000 for an example with above-average eye appeal.

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Market Data and Noteworthy Specimens

Through October 2024, PCGS reports two coins at MS67FB. Both are attached to active PCGS Set Registry sets, one belonging to billionaire collector Dell Loy Hansen. The Hansen MS67FB coin upgraded from MS66+FB to MS67FB; the “MadHatter” coin upgraded from MS66FB to MS66+FB before landing at MS67FB CAC.

Top Population: PCGS MS67FB (2, 10/2024), NGC MS67FB (1, 10/2024), and CAC MS67FB (1:0 stickered:graded, 10/2024).

• PCGS MS67FB CAC #43778058: As PCGS MS66FB #21659562. “The Scheppman Collection,” Heritage Auctions, February 14, 2008, Lot 265 – $19,550; Heritage Auctions, January 7, 2010, Lot 2492 – $19,550. Scheppman Collection on insert. As PCGS MS66+FB CAC #06612850. Heritage Auctions, June 2, 2011, Lot 3405 – $16,100. Upgraded 1/2 point. Top pop, pop one when offered. As PCGS MS67FB #43778058. PCGS User MadHatter’s Registry Set. Imaged on PCGS CoinFacts. Upgraded 1/2 point. Top pop, pop 2. Obverse toned at the top and right side in gold, green, and magenta. Fields toned on the reverse, in lime green and gold. 
• PCGS MS67FB #34590901: As PCGS MS66+FB #34476538. Heritage Auctions, January 4, 2018, Lot 4451 – $13,200. As PCGS MS67FB #34590901. Del Loy Hansen. Imaged on PCGS CoinFacts. Upgraded 1/2 point. Streaky olive and russet toning on the obverse, predominately on the left side. Streaky gold, orange, and green toning on the reverse. Pop 3 when offered.
• PCGS MS66+FB CAC #38270415: GreatCollections, April 19, 2020, Lot 816981 – $15,188.62. Light layers of gold and rose toning.
• CACG MS66FB #844055621: As PCGS MS66FB CAC #07999323. Heritage Auctions, August 11, 2010, Lot 3094 – $21,850. Spray of brown toning. As PCGS MS66FB CAC #39108964. Legend Rare Coin Auctions, August 2020, Lot 105 – $15,862.50. Dipped to Brilliant. “The Warren Collection,” Heritage Auctions, May 5, 2022, Lot 3732 – $15,600. As PCGS MS66FB #45124222. Imaged on PCGS CoinFacts. Long die crack through neck from 6 o’clock. Two diagonal hash marks of surface disruption to the right of the branch. As CACG MS66FB #844055621. Del Loy Hansen; Marketed by DLRC, August 22, 2024, Lot 781421 – $24,800.
• PCGS MS66FB #49599377: As PCGS MS65+FB #45656380. Heritage Auctions, February 9, 2023, Lot 3058 – $5,640; As PCGS MS66FB #49599377. GreatCollections, July 7, 2024, Lot 1374353 – View. Upgraded 1/2 point. Spray of rainbow toning. Squiggly vertical rainbow toning to the left of Liberty’s face.
• NGC MS66FB #6607519-008: Heritage Auctions, March 7, 2023, Lot 23109 – $9,600. Brilliant.
• PCGS MS66FB CAC #31814107: “The Charles McNutt Collection,” Heritage Auctions, January 10, 2019, Lot 4421 – $14,400. Light dusting of gold toning. 
• PCGS MS66FB CAC #35929734: As NGC MS66FB #4478145-005. Heritage Auctions, June 14, 2018, Lot 3892 – $9,000. As PCGS MS66FB CAC #35929734. Heritage Auctions October 11, 2018, Lot 3034 – $15,600. Light dusting of brown toning.
• PCGS MS66FB #84032861: As PCGS MS66FB #84032861. Heritage Auctions, August 2, 2017, Lot 3938 – $14,100. As PCGS MS66FB #36606863. Imaged on PCGS CoinFacts. Tan and muted violet toning throughout. Dark vertical streak on the reverse right field.
• PCGS MS66FB CAC #33428713: As PCGS MS66FB #21264157. “The Stephen and Dianne Stokely Collection,” Heritage Auctions, July 26, 2003, Lot 6682 – $13,225. As PCGS MS66FB CAC #33428713. Heritage Auctions, April 28, 2016, Lot 4598 – $19,975. Light champagne toning.
• PCGS MS66FB #5834967: “The William Dominick Collection,” Heritage Auctions, April 5, 2001, Lot 6238 – $14,950; “The Carnton Colletion,” Heritage Auctions, April 19, 2012, Lot 5076 – $19,550. Wm Dominick Collection on insert.
• PCGS MS66FB #06425372: “The Joshua II Collection of Mercury Dimes, #1 All-Time Finest PCGS Registry Set,” Heritage Auctions, August 12, 2010, Lot 4518 – $12,650. Brilliant.
• PCGS MS66FB #102892724: Heritage Auctions, August 14, 2006, Lot 5154 – $17,825. Scattered brown toning around the upper rim on the obverse. Along the left side reverse rim.
• PCGS MS66FB #50193332: As PCGS MS66FB #5821257. Heritage Auctions, August 18, 2004, Lot 5793 – $11,500. As PCGS MS66FB #50193332. Heritage Auctions, May 5, 2005, Lot 6772 – $18,400. Brilliant. Hit in hair.
• PCGS MS66FB #8355578: “The St. Louis Collection,” Heritage Auctions, January 9, 2003, Lot 6545 – $10,925. Old Green Holder. Brilliant.
• PCGS MS66FB #2864152: Heritage Auctions, November 15, 2001, Lot 5497 – $15,525. Brilliant.
• PCGS MS66FB: “The Louis Bassano Collection,” Heritage Auctions, August 7, 2000, Lot 7008 – $25,300.

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Coin Specifications

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