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The Certified 1923-S Mercury Dime graded AU55 by NGC is a well-preserved example of a semi-key date in the popular Mercury Dime series, which ran from 1916 to 1945. Officially known as the Winged Liberty Head Dime, the coin was designed by Adolph A. Weinman and is widely considered one of the most beautiful small denomination coins in U.S. numismatic history. The 1923-S issue, struck at the San Francisco Mint, holds a special place in the series due to its relative scarcity, especially in higher grades. This AU55 (About Uncirculated) example, certified by the Numismatic Guaranty Company, displays nearly all the features of a Mint State coin but shows minimal wear from brief circulation, making it an appealing option for both advanced collectors and type set enthusiasts.
The obverse of the 1923-S Mercury Dime features the striking image of Liberty wearing a winged Phrygian cap, symbolizing freedom of thought. Often mistaken for the Roman god Mercury, this stylized portrait quickly earned the coin its nickname. On this AU55 specimen, Liberty’s profile retains excellent detail, with just a light touch of wear on the high points such as the cheek, hair above the ear, and the winged cap. The word "LIBERTY" arches boldly around the upper rim, and the motto "IN GOD WE TRUST" appears clearly to the left of Liberty’s neck. The date "1923" is sharp and unsoftened, positioned neatly near the bottom rim. A natural, original patina or soft luster may still be present, depending on the specific characteristics of the individual coin.
The reverse of the coin is equally iconic, showcasing a fasces—an ancient Roman symbol of authority and unity—bound with ribbons and flanked by olive branches, symbolizing peace. Surrounding the image are the inscriptions “UNITED STATES OF AMERICA” and “ONE DIME,” with “E PLURIBUS UNUM” placed to the right of the fasces. On the 1923-S coin, the mintmark “S” for San Francisco is found to the right of the “E PLURIBUS UNUM” inscription. In AU55 condition, the reverse remains impressively detailed, with slight friction on the fasces and olive branches but overall very close to uncirculated quality. The vertical rods of the fasces, axe blade, and fine details of the leaves retain their definition and texture, distinguishing this coin as one of high visual quality despite minor wear.
In terms of production, the 1923-S Mercury Dime had a total mintage of 6,440,000 coins, a relatively low figure compared to many other dates in the series. While not a key date in the strictest sense, it is considered a semi-key, especially desirable in grades of AU and above. San Francisco Mint issues of this era are often plagued by weaker strikes, but many 1923-S dimes exhibit decent definition, particularly in the central elements. However, full band details on the reverse—an indicator of strike sharpness in Mercury Dimes—are rarely seen, even in higher Mint State grades. This makes a sharply struck AU55 example all the more appealing, especially if it retains original surfaces and clean eye appeal.
The Mercury Dime series is composed of 90% silver and 10% copper, with a weight of 2.5 grams and a diameter of 17.9 millimeters. Its composition gives the coin intrinsic value as bullion, but the numismatic premium—especially for scarcer dates like the 1923-S—is determined by condition, rarity, and strike quality. The AU55 grade indicates a coin that has just barely entered circulation or experienced only light handling. It displays no heavy scratches or abrasions, and the devices remain crisp and defined. While it may lack the full luster of a Mint State piece, it still presents well and retains much of the sharpness that collectors seek in higher-grade specimens.
The Numismatic Guaranty Company (NGC), which certified this piece, is one of the most respected grading services in the industry. Coins graded by NGC benefit from guaranteed authenticity, secure encapsulation, and transparent grading standards. An AU55 grade denotes a coin that shows the slightest touch of wear on the highest points but retains nearly complete detail. This makes it an ideal acquisition for collectors who desire a nearly Mint State example without the high cost associated with grades MS63 and above. The NGC holder also helps protect the coin from environmental damage and handling, ensuring that its current condition will be preserved for years to come.
The 1923-S Mercury Dime occupies an important role in building a complete Mercury Dime set, especially for collectors pursuing higher-end circulated or low-end Mint State coins. Given the relatively low mintage and regional limitations of San Francisco Mint coinage during this era, well-struck and attractive examples are not easy to locate. The coin’s combination of scarcity, elegant design, and 1920s vintage appeal makes it a standout in any U.S. silver type set or 20th-century coin collection. For those focusing on certified examples, the AU55 grade offers an excellent blend of affordability, aesthetics, and historical character.
Weinman’s design continues to capture the imagination of collectors even decades after the end of the Mercury Dime series in 1945. In fact, the U.S. Mint has reissued variations of the design in modern commemorative and bullion issues, such as the 2016 Gold Mercury Dime. The enduring popularity of the original Mercury Dime adds further appeal to issues like the 1923-S, which combine genuine scarcity with collectible charm. In particular, AU55 examples are desirable for those who appreciate lightly circulated coins that maintain nearly all their original detail without venturing into premium Mint State pricing tiers.
In conclusion, the Certified 1923-S Mercury Dime AU55 NGC is a prime representative of a semi-key date coin from one of America’s most artistically admired series. With its excellent strike for a San Francisco issue, nearly uncirculated surfaces, and high-quality certification, this coin bridges the gap between circulated affordability and Mint State visual appeal. It remains a strong acquisition for Mercury Dime specialists, 20th-century U.S. coin collectors, and anyone who appreciates the elegance of Weinman’s classic design. A coin like this not only serves as a tangible piece of American history but also offers lasting value in the world of numismatics.