What is a 1928-D Mercury Dime Worth? Prices & Grading Guide

The 1928-D Mercury Dime is worth anywhere from $5 in worn condition to over $1,200 in pristine mint state. This silver coin, minted in Denver nearly a century ago, remains a favorite among casual collectors and serious numismatists alike for its iconic design and historical significance.

Condition	Estimated Value
Good (G-4)	$5 – $7
Fine (F-12)	$12 – $18
Extremely Fine (EF-40)	$45 – $60
Uncirculated (MS-60)	$110 – $150
Gem Mint State (MS-65+)	$350 – $1,200+

Understanding the Appeal of the 1928-D Mercury Dime

If you have discovered an old dime in a jar or an inherited collection, the first thing to check is the date and the mint mark. The 1928-D Mercury Dime belongs to the “Winged Liberty Head” series, though it is universally called the Mercury Dime because Liberty’s winged cap resembles the Roman god Mercury.

When searching for information, using a top coin identifier and value app can help you confirm the Denver mint mark quickly. The “D” on this coin is located on the reverse (tails) side, near the bottom left, specifically near the word “ONE.”

In 1928, the Denver Mint produced 4,161,000 of these dimes. While this sounds like a high number, many of these coins were heavily circulated during the Great Depression. Finding one in high-quality condition is a rarity, which is why collectors pay a premium for specimens that still have their original luster. Identifying these subtle details is easier when you use the CoinKnow app to compare your coin against high-resolution library images.

Grading and Determining 1928-D Dime Value

The price of a 1928-D Mercury Dime depends almost entirely on its “grade,” or its state of preservation. Coin collectors use a 70-point scale. A coin that is heavily worn might only be worth its “melt value” (the value of the silver), but even a worn 1928-D usually carries a small premium over common dates because of its lower mintage.

To get an accurate estimate, you should look for specific wear patterns. On the obverse, check Liberty’s hair and the feathers in her wing. On the reverse, the “fasces” (the bundle of sticks) in the center will lose detail as the coin wears down.

If your coin looks brand new, you are looking at a much higher 1928-D high-grade value. High-grade coins are those that never entered general circulation. They maintain a frosty or satin-like appearance and have few scratches or “bag marks.”

Grade Group	Visual Description	Value Range
Circulated	Heavy wear, Liberty’s face is flat.	$5 – $15
Mid-Grade	Some detail in wings, distinct lines on reverse.	$25 – $75
Mint State	Full shine, no wear, sharp details.	$120 – $1,500

Silver Content and Intrinsic Value

Even if your 1928-D Mercury Dime is in terrible shape—perhaps it’s bent, scratched, or completely worn smooth—it still has value. Every Mercury Dime minted from 1916 to 1945 is composed of 90% silver and 10% copper.

This means the “floor” for the coin’s price is tied to the current spot price of silver. However, because the 1928-D is a slightly harder-to-find date than the common 1940s dimes, it almost always sells for more than just its silver weight.

For the most up-to-date 1928 Mercury Dime price information, it is important to track market trends. In recent years, silver coins have seen a surge in interest as both a hedge against inflation and a nostalgic hobby. CoinKnow provides real-time market data so you don’t sell your silver too cheaply.

What are “Full Bands” and Why Do They Matter?

When researching high-end 1928-D dimes, you will often see the abbreviation “FB” or “Full Bands.” This refers to the horizontal bands tied around the fasces on the reverse side of the coin. Because of the way these coins were struck, the central horizontal bands are often blurry or flat.

A 1928-D Dime with “Full FB” (Full Split Bands) means that the lines separating the bands are perfectly clear and distinct. This is a sign of a very “strong strike” from the Denver Mint.

If you possess a 1928-D with these full bands, the value can jump from a few hundred dollars to several thousand. Professional grading services like PCGS or NGC are usually required to officially designate a coin as “FB,” but you can use the CoinKnow photo recognition tool to see if your coin has the potential for this lucrative label.

Condition + FB Status	Estimated Auction Value
MS-63 (No Full Bands)	$180
MS-63 (Full Bands)	$450+
MS-66 (Full Bands)	$1,800+

Common Errors on the 1928-D Mercury Dime

Error coins are a niche but highly profitable segment of coin collecting. While the 1928-D is not as famous for errors as the 1942/1 overstrike, there are still anomalies to look for. These include RPMs (Re-punched Mint Marks), where the “D” appears to have been stamped twice, or die cracks where a thin line of raised metal appears on the surface.

To identify an error, you will need a magnifying glass or a jeweler’s loupe. Look for doubling in the lettering of “IN GOD WE TRUST” or “LIBERTY.”

While mid-range errors might add $20 to $50 to the value, a major mechanical error could triple the price of a standard 1928-D. Always handle your coins by the edges to ensure you don’t leave fingerprints, which can corrode the silver over time and lower the coin’s grade and error visibility.

Summary: Should You Sell or Keep Your 1928-D Dime?

Determining whether to sell or hold your 1928-D Mercury Dime depends on your personal goals and the coin’s condition. If your coin is heavily worn, it serves as a wonderful piece of American history and a solid silver investment. If it is in near-perfect condition, it is a high-value asset that may continue to appreciate.

Before making any decisions, compare your coin to recent auction results. The market for Mercury Dimes is quite liquid, meaning there are always buyers looking for “D” mint marks to complete their sets.

Remember that “cleaning” a coin—even if you think it looks better shiny—will almost always destroy its numismatic value. Collectors prefer a coin with a natural “patina” (the darkening that happens as silver ages) over a coin that has been polished.

FAQ

Q: Where is the mint mark on a 1928-D dime?

A: The “D” mint mark is located on the reverse side of the coin. Look at the bottom left, just to the left of the torch/fasces. If there is no letter there, the coin was minted in Philadelphia.

Q: Is every 1928-D dime made of real silver?

A: Yes, all Mercury Dimes minted in 1928, whether from Denver (D), San Francisco (S), or Philadelphia (no mark), consist of 90% silver and 10% copper.

Q: How much is a 1928-D Mercury Dime worth today?

A: A typical circulated 1928-D is worth about $5 to $15. In rare, uncirculated condition with “Full Bands,” it can be worth over $1,000 at auction.

Q: Does cleaning my 1928-D dime make it worth more?

A: No! Never clean your coins with soap, jewelry cleaner, or cloths. Cleaning leaves microscopic scratches that professional graders can easily spot, which can reduce the coin’s value by 50% or more.