The 1928 Mercury Dime No Mint Mark is worth anywhere from $3 in worn condition to over $1,500 in pristine mint state. Known officially as the Winged Liberty Head dime, this classic American coin is a favorite among collectors for its beautiful design and silver content.

Condition	Estimated Value (Philadelphia)
Good (G-4)	$3.00 – $4.00
Fine (F-12)	$5.50 – $7.00
Extremely Fine (XF-40)	$12.00 – $15.00
Uncirculated (MS-60)	$35.00 – $45.00
High Grade (MS-65+)	$150.00 – $5,000+

Understanding the 1928 Mercury Dime History

Finding an old dime in a jar of change or an inherited collection is always a thrill. If you hold a 1928 Mercury Dime with no mint mark, you are holding a piece of American history from the Roaring Twenties. These coins were minted in Philadelphia, which at the time did not use a mint mark on its coinage.

To ensure you aren’t overlooking a hidden gem, using a top coin identifier app can help you verify the date and origin instantly. The 1928 Philadelphia issue had a healthy production run of over 19 million coins, making it relatively common in lower grades but scarce in high-quality conditions.

The design by Adolph A. Weinman features Lady Liberty wearing a winged Phrygian cap, symbolizing liberty of thought. However, the public often mistook the figure for the Roman god Mercury, which is how the “Mercury Dime” name stuck. Because these coins are 90% silver, they always have a “melt value” regardless of their condition, but their numismatic value can be much higher.

If you are curious about the technical aspects of grading, the CoinKnow app offers detailed visual guides to help you distinguish between a heavily circulated coin and a collector-grade specimen.

How to Identify the No Mint Mark Variety

When examining your 1928 dime, the first thing to check is the reverse side. Look at the bottom left, near the word “ONE.” If there is no small letter “D” (Denver) or “S” (San Francisco), then your coin was minted in Philadelphia.

The absence of a mint mark is actually standard for this year’s Philadelphia production. While “no mint mark” coins are often rumored to be rare errors, in this case, it simply indicates the location of origin. Still, the 1928 dime value remains strong because of its silver content and age.

Collectors often look for “Full Bands” (FB) on the reverse. This refers to the horizontal bands holding the bundle of sticks (fasces). If these bands are clearly separated with a distinct line, the coin’s value skyrockets. Most coins found in pocket change will have these bands worn flat, but a sharp eye or the CoinKnow app can help you spot these high-value details.

Mint Mark	Location	Mintage Volume
None	Philadelphia	19,480,000
D	Denver	4,115,000
S	San Francisco	7,400,000

Grading and Its Impact on the 1928 Mercury Dime Value

The condition of your coin is the single most important factor in determining how much it is worth. Coins are graded on a scale from 1 to 70. Most 1928 dimes found today fall into the “Good” to “Very Fine” categories.

A coin in “Good” condition will show significant wear, with Lady Liberty’s hair and the feathers on her cap looking flat. At this level, the value is mostly tied to the price of silver. However, if the coin looks like it just came from the bank—shiny, with no scratches and full detail—it could be an “Uncirculated” coin worth hundreds.

Reviewing the current market prices for mint state 1928 dimes shows that a jump from MS-63 to MS-65 can double or triple the price. Even a small amount of wear on the highest points of the design can demote a coin from “Mint State” to “About Uncirculated” (AU).

For those who aren’t experts, the CoinKnow app provides an easy way to compare your coin against high-resolution photos of graded examples. This helps you manage your expectations before heading to a local coin shop.

Silver Content and Melt Value of the 1928 Dime

Even if your 1928 Mercury Dime is in terrible shape, it is never just worth ten cents. These coins are composed of 90% silver and 10% copper. In the world of precious metals, they are often referred to as “junk silver,” though there is nothing junk about them.

The silver weight of a Mercury Dime is approximately 0.07234 troy ounces. When silver prices are high, the base value of the coin rises accordingly. For many Americans, these coins serve as a hedge against inflation.

Silver Price (Per Oz)	Melt Value of One Dime
$20.00	~$1.45
$25.00	~$1.81
$30.00	~$2.17

Key Errors to Look For in 1928 Dimes

While the 1928 Philadelphia dime is generally consistent, error collectors are always on the lookout for anomalies. Errors occurred during the minting process and can result in significant price premiums. Common errors include “Off-Center” strikes, where the design is pushed to one side, or “Double Dies,” where the letters or date appear slightly doubled.

One interesting thing to check for is the “Lamination Error,” which happens when the silver/copper alloy peels or cracks. While these don’t always add huge value, they make the coin unique to collectors of minting mishaps.

If you suspect you have an error coin, don’t clean it! Cleaning a coin with chemicals or brushes will ruin its numismatic value. Instead, use an app like CoinKnow to identify the specific error type and see what similar pieces have sold for at auction.

Where to Sell Your 1928 Mercury Dime

Deciding where to sell is just as important as knowing the value. If your coin is worth less than $10, selling it to a local coin shop or a bullion dealer is the easiest path. However, if you have a high-grade 1928 dime or one with Full Bands, you might consider an auction house or a specialized online marketplace.

Platforms like eBay are popular for selling individual dimes, but be sure to take clear, high-resolution photos of both the front and back. Buyers want to see the “no mint mark” area and the condition of the fasces bands.

Always get a second opinion if you think you have a high-value coin. Professional grading services like PCGS or NGC can certify the coin’s grade, which makes it much easier to sell for top dollar to serious collectors.

FAQ

Q: Why doesn’t my 1928 Mercury Dime have a mint mark?

A: In 1928, the Philadelphia Mint produced coins without a mint mark. This was standard practice and simply identifies the coin as being struck at the main U.S. Mint facility.

Q: Is a 1928 dime made of real silver?

A: Yes, all Mercury Dimes minted between 1916 and 1945 are 90% silver and 10% copper. They are highly sought after for both their historical and metal value.

Q: What is a “Full Bands” Mercury Dime?

A: A Full Bands (FB) dime is an exceptionally well-struck coin where the horizontal lines on the reverse’s fasces (the bundle of sticks) are completely separated and distinct. These coins command much higher prices.

Q: Should I clean my 1928 dime to make it look silver again?

A: No! Never clean your coins. Collectors prefer the natural patina or “toning” that develops over decades. Cleaning can reduce the value of a rare coin by 50% or more.