Following a small recession in 1922 during which no dimes were made, the United States Mint returned to striking the denomination in 1923, though in relatively small numbers as compared to the dime mintages of the late teens. Also, minting of dimes was confined to only the Philadelphia and San Francisco mints, crimping the overall output of dimes that year.
Below is a glance at the mintage and values for 1923 Mercury dimes:
1923, 50,130,000; $3
1923-S, 6,440,000; $5
*Values are for dimes in a grade of Good-4.
**Beware of 1923-D Mercury dimes – these are counterfeit.
As could be expected given those mintage figures, an uncirculated example from the Philadelphia mint will set you back considerably less than a specimen in a similar grade from the San Francisco mint. While you might spend $50 for a Philadelphia piece grading MS-63, expect to dish out around $400 for a 1923-S dime in the same grade.
If you do buy uncirculated 1923 Mercury dimes, take the time to pursue well-struck specimens that have sharp surfaces, plenty of luster, and good overall eye appeal. Not only will you be more pleased by such pieces, but you might also receive a better return on your investment down the line should you decide to sell them.