1919-D 10C MS66 Full Bands PCGS....

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Momentous 1919-D Mercury Dime, MS66 Full Bands

1919-D 10C MS66 Full Bands PCGS. The current online PCGS Population Report indicates a mere five pieces certified in MS66 Full Bands and--interestingly enough, and indicative of this issue's difficulty at this rarefied altitude--there are none finer at that service. The finest examples at NGC are several MS65 Full Bands pieces, although there are some MS66 and one MS67 there lacking the Full Bands designation (3/09).
As the United States emerged from the fear and anxiety of World War I, which saw a cease-fire in November 1918 and officially ended in June 1919, it might have been thought that a surge in mintage figures for silver coins would be observed between 1918 and 1919. In fact, the opposite occurred. The Great War had the effect of largely making silver coins disappear in most countries around the world. The price of silver between 1916 and 1919 saw a slow and steady rise from 50 cents an ounce to its peak in November 1919 at more than $1.38/ounce. The demand for silver in India was particularly acute, threatening to destabilize the British Empire's "Jewel in the Crown." The mass meltings of silver dollars mandated by the Pittman Act of 1918 were actually carried out in 1919 and 1920, largely occurring too late to affect the silver price. The federal authorities' response to the crisis appears to have been somewhat mixed and muted--the Philadelphia Mint continued making considerable numbers of silver coins, and a record number of cents in 1919 that would stand until 1940--but the branch mints in Denver and San Francisco did make noticeably smaller numbers of dimes, quarters, and half dollars than in 1918.
The Denver Mint's output of dimes was thus less than half of the previous year (as was San Francisco's), and it appears that die economy was also the order of the day, as many pieces show peripheral weakness. The importance of this issue is stressed by the PCGS Set Composition table, which awards a whopping 10 points each to this issue, along with the 1916-D and 1918-D, in the Full Bands Basic Set, Circulation Strikes.
The present example is only the fourth time we have handled a specimen in this grade, although it appears not to be one of the previous offerings as far as we can tell. The highly lustrous surfaces are basically silver, but generously tinged with glimpses of honey-gold and pinkish-gold on both sides (especially so on the reverse). The all-important central bands are not only split but fully raised, separating this piece from nearly all of its siblings. Light strike weakness appears only on the lower diagonal, and the letter tops are bold. For pedigree purposes we note a tiny mark on the reverse rim above the U of UNITED that appears dark at first glance. Serious Mercury dime specialists will immediately recognize the extreme significance of this opportunity. Population: 5 in 66 Full Bands, 0 finer (3/09).
From The Joseph C. Thomas Collection.(Registry values: N7079)

Coin Index Numbers: (NGC ID# 23H9, PCGS# 4925, Greysheet# 4536)

Weight: 2.49 grams

Metal: 90% Silver, 10% Copper

View all of [The Joseph C. Thomas Collection, Part Two ]

View Certification Details from PCGS