2016 Mercury Dime Centennial Gold Coin Unavailable … For Now

by Mike Unser on April 22, 2016 · 140 comments

2016 Mercury Dime Centennial Gold Coin, Obverse and Reverse

Obverse and reverse sides of 2016 Mercury Dime Centennial Gold Coin

Collectors didn’t have a lot of time on Thursday to order the new 2016-W Mercury Dime Centennial Gold Coin. The 24-karat gold coin went on back order after about 20 minutes and then became unavailable by the 40-minute mark.

"The status of the Mercury Dime 2016 Centennial Gold Coin will remain as currently unavailable until all order reconciliations and order cancellations have been processed," U.S. Mint spokesman Michael White said in a brief statement.

The U.S. Mint set the mintage of the highly-anticipated collectible to 125,000 and it imposed a household ordering limit of 10 pieces.

Many who ordered or tried needed patience. A number of buyers described their difficulties in ordering online because of the volume of traffic, saying they experienced website sluggishness and connection timeouts — especially within the first 10 to 15 minutes.

Curiously, Mint officials didn’t have significant stats available for CoinNews at this writing, such as how many coins sold in the very early going or how many were at its fulfillment warehouse for shipping. We’ll offer more information here as it becomes available.

At $205 per coin, excluding shipping and if they all sold out, the United States Mint would take in orders totaling more than $25.6 million. The collector coins are already selling in the secondary market at significant premiums. Those in original packing have prices from around $295 to $350 while early release MS70s are listed from around $400 to $600.

The gold Mercury dime is one of three .9999 fine gold coins the U.S. Mint will release in 2016 to celebrate popular designs introduced 100 year ago. Launching later in the year are the gold Standing Liberty quarter and the gold Walking Liberty half-dollar. (See mock-ups of these gold coins.)

The centennial issues are struck to weights of 1/10 oz. gold for the dime, 1/4 oz. gold for the quarter, and 1/2 oz. gold for the half-dollar. The 1916-dated coins bearing the original designs have a composition of 90% silver and 10% copper.

{ 40 comments… read them below or add one }

njpba600 April 27, 2016 at 12:02 pm
njpba600 April 27, 2016 at 12:18 pm

The confusing part is some show SP on the label but in the description a few say, Finish – Mint State.

Example:

http://www.ebay.com/itm/2016-W-1-10-Oz-Gold-Mercury-Dime-Centennial-PCGS-SP70-FS-Flag-Label-SKU40776-/381611758292?hash=item58d9d552d4:g:afcAAOSwYmZXH6mh

Seth Riesling April 27, 2016 at 1:14 pm

njpba600 –

Very interesting for sure. The PCGS coins I have seen for sale by MCM in Sarasota, Florida & JM Bullion in Dallas, Texas have the NGC ones listed as SP & the PCGS ones listed as MS graded coins. Check out their websites. It is strange for sure as the Mint states on its website & on the coin COAs inside the boxes of the 3 coins I got yesterday from the Mint as regular “business strike” Uncirculated coins with no special finish. ANACS is also grading these as SP coins. Very strange.

Anyway, they did not sellout on day one & the Mint website says they have 2,490 coins left as of Sunday & will offer them at sometimes if you sign up for the “Remind Me” feature on the U.S. Mint website.

Good luck & thanks for the information!

-NumisDudeTX

Christopher Williams April 27, 2016 at 3:16 pm
Seth Riesling April 27, 2016 at 3:49 pm

Christopher Williams –

Mezack needs a good spanking!
LOL

-NumisDudeTX

Christopher Williams April 27, 2016 at 3:58 pm

Seth-

1,789 for sale in Anacs SP70 graded condition.

Seth Riesling April 27, 2016 at 4:50 pm

Christopher Williams –

Yes, that many in 70 plus he sells coins for Cable Shopping Network also & has a different “exclusive” ANACS label with a limited edition of 1,916 coins in 70 as “a first strike coin” label with serial numbers om label also for $499.95. That means with the 1,789 coins he has for HSN with his “exclusive” ANACS label with “first day of issue” & serial numbers, that he got ANACS to grade 3,705 gold dimes as 70 grade, plus however many he may have got with 69 grade in addition to the 70 grade coins! What a weasel. Lol (and that is not a good laugh!).

-NumisDudeTX

Christopher Williams April 27, 2016 at 4:54 pm

Seth-

Amazing the number of coins Mike “Sold Out, Limited Edition” acquired on the “secondary” market so quickly….

Yeah right.

Seth Riesling April 27, 2016 at 5:13 pm

Christopher Williams –

I guess he pays others to buy the household limit for him like MCM in Sarasota, Florida does, but Mezack actually brags about it with his orange fake tan & arrogant attitude on live cable television shows on HSN & then rips off the uneducated buyers he has hooked on his HSN Coin Collector shows. How shameless!

-NumisDudeTX

Christopher Williams April 30, 2016 at 11:57 am

Mike “Sold Out Limited Edition” Mezack was hawking the “2016 Mercury Gold Dime” on HSN Saturday night (I DVr’d it) and it was stating how he (paraphrasing) “Logged on on 12PM, got kicked off and finally got his coins at 12:11.”

And yet on HSN alone, he had 1,789 coins in SP70 to sell.

Seth Riesling April 30, 2016 at 5:10 pm

Christopher Williams –

I set my cable tv for his show at 1am this morning here in Austin, Texas & laid down earlier & woke up hearing his arrogant voice coming from my living room where the tv is. I thought I was having a nightmare! LMAO. The sad thing is he only has third-rate grading service ANACS graded coins & is asking top $ for them ($499.95) when I know a full-time reputable dealer in California who has top grading service PCGS SP-70 coins for only $350 & the PCGS 69 coins at $295 & coins in OGP/OMP for just $275. (L&C Coins company in Los Alamitos, California)
I don’t see how Mezack sleeps at night! I have never understood how ripoff artists can live with themselves. Mezack could make a lot of money as a regular above the board coin dealer, but his ego is such that he has to be on 3 cable tv channels (HSN, CNBC, & History channel) to feed his big ego. Sad for sure. I hope people wake up some day & sue him major time for fraud & deceptive trade practices.

-NumisDudeTX

Christopher Williams April 30, 2016 at 5:28 pm
Christopher Williams April 30, 2016 at 7:15 pm

What is really interesting, Seth, is that Mike “Sold Out, Limited Edition” Mezack has only sold 300 of the 1,789 available as of 8:15 PM tonight (04/30/2016).

Seth Riesling April 30, 2016 at 8:31 pm

Christopher Williams –

Very interesting for sure! Mezack allso has 1,916 coins with another exclusive ANACS label for his Cable Shopping Network collector catalog & infomercials customers. Maybe he has oversaturated the market on these gold dimes. Plus, many viewers not familiar with these dimes or the nunumismatic hobby might be surprised when they see how small they are (smaller than a Lincoln cent & even a bit smaller than the original silver “Mercury” dime) on tv & decide not to buy them at $499.95 each. Hopefully he will be stuck with alot of them!

-NumisDudeTX

Christopher Williams April 30, 2016 at 8:33 pm

Seth-

Eventually Mezack will have to lower the price on them, which will infuriate those who purchased them at the $499.95 price.

njpba600 April 30, 2016 at 10:07 pm

I just bought one on eBay for $275 (free sh) minus $50 from using one of my credit cards that I remembered had a $50 cash bonus on it. So I actually paid a total of “$225” for it! So I guess it worked out well after all once I realized I had that $50 credit bonus on my cc.

jim May 1, 2016 at 2:09 am

To tell the truth, I was not impressed with the gold dime. Yeah, it’s small and the placement of the coin in the packaging gives a good view of the obverse but not of the reverse. I suppose one can pop the coin out of the packaging but I’d rather not risk it. Sometimes the machine packaging puts the coin in so tightly that I have to take the packaging apart and bend it to work the coin out. I still would prefer a proof version.

Don’t get me wrong about the packaging – I was impressed with the layers of protection provided and the feel of its texture. I can see how this coin can be priced at a $30 premium over the 1/10 oz gold eagle. I still would prefer the option to buy the coin in a simple box and bypass the fancy packaging.

Christopher Williams May 1, 2016 at 9:31 am

Mike “Sold Out, Limited Edition” Mezack.

https://www.youtube.com/watch?v=NNS9nL9nsIU

Christopher Williams May 1, 2016 at 11:33 am

Mike “Sold Out, Limited Edition” Mezack “Expects a complete and total sellout.”

In my opinion, he’ll never sell all 1,789.

Jp May 1, 2016 at 12:25 pm

OK, so here is my take on this Mezack guy you all are talking about. I have not been familiar with this guy or his shows until this ongoing blog about him. Thanks for including the you tube video of his show. I never watch so I am not in the know of him. To me this is a guy who buys and sells coins, not unlike any other coin dealer. He’s merely in the retail coin business. There are thousands of retail coin businesses around the world. EBay is full of them. I cannot fault the guy for selling his coins at whatever price he thinks he can get. There isn’t a coin seller out there who wouldn’t do the same. So there is no fault there. It is the unknowledgeable buyer who buys from him that is at fault, but… as long as they are OK with how much they spent on any coin from him I am sure they are happy. Nothing wrong there either.
You also cannot rip the guy for having so many coins as he has found a way to be able to purchase extra. As long as the US Mint is not colluding with this guy he more than likely is paying a premium for these extra coins. Therefore, he has extra costs, plus the cost of the fancy box he includes and the cost of his TV shows that he has to recoup. Thereby setting the price he needs to sell any coin. Unscrupulous? It’s a matter of opinion. No more so than any jewelry store marks up gold and diamonds 600% or so. (I used to have a buddy that worked in a local jewelry store). I myself don’t buy jewelry because I feel it’s all overpriced.
As long as this Mezack guy isn’t in bed with the Mint , he seems to be taking the risk on these and other coins of his. I’m sure at times he takes a bath on some of this stuff. I myself would not buy any of these dimes from him because EBay has tons of these listed for much cheaper. So, yes, Buyer beware, but also Buyer buy at your own risk. Get an education, look around, and see what the going rate really is. Like you said, he may end up eating up any profits on his investment if no one is willing to buy at his price. I’m sure we ALL have at one time or another made a dumb over priced purchase. I admit I have (several times). But each time I hope to become a little smarter.
I cannot knock this guy. I don’t know him. He’s just a retail coin seller. A bit overpriced albeit. No different the the upcharge from the Mint. Look at the Canadian Mint’s prices! Whooo, over the top as far as I’m concerned.Where’s the complaining now?
OK, I’m ready to be Nuked from all of you…. Let me have it, but before you do, just really think about where I am coming from.
Jim, I’m still with you on all the excessive packaging that could be eliminated.

Christopher Williams May 1, 2016 at 1:25 pm

JP-

There’s no “nuking” here. We all have an opinion.

In the future though, please “space” your paragraphs to make it easier for all of us to read your comments.

I’m mainly an autograph hobbyist, but I have always loved coins. I joined here to learn, but I’ve been watching Mike “Sold Out, Limited Edition” Mezack for a long time….

I remember a long time ago buying MS70 coins from HSN. I was very excited to own them. I opened them up and low and behold, all five coins had dings on them. Obvious dings. HSN has always been great about refunds and they returned my money immediately upon receiving my return.

That put a sour taste in my mouth about Mezack.

Then I remember a few times Mezack stating “These are sold out at the US Mint.”

So during the course of one airing after with him stating the aforementioned, I immediately logged on to the US Mint website and made a purchase of an item Mezack claimed was “Sold Out.”

That’s the stuff that angers us; not so much his pricing. If people want to over-pay for a coin, that is their business. He does have his loyal buyers.

Just last night he stated the Mercury Gold Dimes were “sold out in 18, 19 minutes.” Then a few minutes later he states they were “sold out in 21 minutes.”

Of course, they did sell out quickly (40-45 minutes). He embellishes frequently.

Jp May 1, 2016 at 7:12 pm

Christopher Williams-
Forgive the spacing. I wrote that comment in a Word doc and cut and paste it. I guess it didn’t convert well.

You know all kinds of retail people embellish. I watched that you tube video again and Mezack stretches the truth but I didn’t hear any out and out lies.
Unlike our politicians now a days.

One possible good thing about this guy is that by having him keep his price high that may also help drive the market for anyone else who sells coins or for those of us that just collect it can help to keep our investment more valuable.
I do care about my coins holding and also increasing in value. Nothing wrong with that.

Rodney Moore May 5, 2016 at 12:34 pm

JP-
What makes me mad at Mezack – who apparently bought 3,600 coins – is that the people working for him to buy the coins is jamming up the website and then buying coins that have a 5-per-household limit which prevents regular everyday collectors from being able to buy from the mint at the regular un-inflated mint price.
This doesn’t compare at all to jewelry stores that mark up their items 600% because they buy from wholesale places and not from the US Mint that has limits in place to stop this type of thing from happening.
It does make one wonder if he is colluding with the mint, because you’d think if an ordinary citizen did this regularly in such scale that the mint would take action against him.
My take on the guy is that he is harming the regular collectors and maybe souring new entrants into the hobby.

Jp May 5, 2016 at 6:06 pm

Rodney Moore-
Point well taken. I have been frustrated when I have had difficulty ordering a coin from the Mint. The last one I remember most vividly was the Baseball coin fiasco.
Part of the problem was the US Mint’s site though.

If this Mezack guy obtained that many coins you would think the Mint would look into it, but, if he has bought them thru other purchasers I don’t think there is much the Mint can do about it. It sounds like he has been in business for a long time and no doubt has a circuit of regular buyers that he purchases from.

I agree, it’s sad for the true coin collectors.
Maybe the Mint should try beginning a sale on a weekend or in the evening rather than always on a Thursday at Noon.

Christopher Williams May 5, 2016 at 8:38 pm

Rodney-

The number is much higher than the 3,600 you mentioned. Those are just the ones graded ANACS SP70.

The actual number is 3,705.

How many did he have to purchase just to get those 3,705 graded ANACS SP70.

Think about that.

Hilary Lerner May 15, 2016 at 12:46 am

Anybody know the dates of release of the gold centennial quarter and half dollar?

Mike Unser May 15, 2016 at 9:37 am

The U.S. Mint hasn’t provided release dates yet for the half-dollar and quarter centennial gold coins.

BTW, here’s a video of one of the gold Mercury dimes. Tomorrow, May 16, we’ll publish some photos of the dime along with this video.

jim May 15, 2016 at 6:05 pm

Hilary –
The mint knows, they’re just not telling. Or, more likely, whoever’s responsible for updating the product schedule is too lazy to update the schedule. Providing a schedule that’s only 3 weeks out after almost 5 months into the year is ridiculous – another example of poor management by seat-warmer Jeppson. And still having 12 TBD’s at this time of the year shows an incredible lack of control over what’s going on at the mint.

Bilelle May 17, 2016 at 1:00 am

Interesting comments here about the Gold Mercury Dime. If the mint wanted to give the collector a chance with coins like the Gold Mercury Dime they would not set the limit at 10 per household but rather set the limit at 1 for the first four weeks or so and then raise the limit.
I see that the Mint has done some work with addresses that the coins were to be shipped to and stopped orders that exceeded the 10 limit per household.
It looks like the mint has about 6000 of the Dimes left. I sure wish they would introduce the 1 coin per household for these remaining coins so that more collectors would have a chance at obtaining the coin at a better price.
Bilelle

Rodney Moore May 17, 2016 at 9:51 am

Bilelle –
where did you see that the Mint did work with the addresses and stopped shipment on orders that exceeded the ten coin limit?
Thanks!

jim May 17, 2016 at 1:53 pm

Bilelle –
Considering that 6,000 remain after being available almost 4 weeks I think that all collectors, dealers, flippers, etc. have bought all they want and reducing the limit won’t make any difference. The market for this little coin is sated. But your suggestion is not bad. Remember Jeppson who has no interest in supporting collectors is “in charge” so that won’t change any time soon.

Bilelle May 17, 2016 at 2:09 pm

Hi Jim, thanks for your comments. Besides the 1 coin limit for four weeks the other feature I think would help is that anyone who bought on the first day could not buy again until the 4 weeks is up.

Jim I am sure the market at this point may well be satisfied with product. However GREED seems to never go away so that is why I think the restriction of anyone who has received the Gold Mercury should not be allowed to buy in this 4 week period.
I think the fokes at the mint are looking for ways to spread the Gold Mercury Dime around to more individuals at this point.

Rodney Moore May 17, 2016 at 2:13 pm

Jim,
Do you mean the 6,000 that remain that are marked up hundreds of dollars? You mentioned that collectors, dealers, flippers have bought all they want – which may be so at the inflated rates.
However I,other collectors and even flippers, are probably interested in getting some from the mint at the original un-inflated, mint price.
I do hope the mint releases the remainder at a one per household limit because that would be somewhat fair.

Rodney Moore May 17, 2016 at 2:20 pm

There’s no way to go back and edit , so I’ll add:

Jim, initially I thought you mint the 6,000 available was the ones being offered by flippers, but looking back it seems you mint the ones at the mint?
So your comment doesn’t make sense to me if you meant the ones left at the mint. The 6,000 at the mint haven’t been available for people to buy, so that’s why the mint still has them.

jim May 18, 2016 at 1:21 am

Rodney Moore –
My comments were based on Bilelle’s original comment. I assumed Bilelle had some way of knowing or calculating the number 6000 and from his comment that these were available for sale at the mint’s web site. If in fact there are 6000 available at the mint and the mint is just sitting on them then this is another example of Jeppson’s laissez-faire or in other words hands off management style. Jeppson is more and more demonstrating his total lack of competence and needs to be reprimanded and/or removed from his position of dep dir of the mint. I guess it’s time to write a letter to Treasury Secretary Lew (his boss) and see if he can’t get Jeppson to do his job..

Bilelle May 18, 2016 at 7:44 pm

To answer the question about where I got the number just under 6000 coins it was from the mints on data that is always on the mint web site. You have to dig a little to find it but it is there. The Actual number is 5080′ but I think the min it maybe still be checking out orders for violations of the 10 per household.

I really believe the team working on the 2016 Gold Mercury Dime project is waiting until they know that they have satisfied the original set of legitment orders and after that the possible sale of these Dimes that are under the 125,000 mark.

I do think those working on the mechanics of the next mint sale of the 2016 Gold Mercury are weighing fairness in their debates.

From the eyes of a collector, not a dealer or a flipper, I still feel a 1 per household limit, plus a four week period of the 1 per household AND anyone who was able to make a purchase in the original offering would not be eligible to purchase again until the four week 1 per household restriction was up.

I also would think the mint could avoid a repeat of this situation on the other two Centennial Gold Coins by taking a stepped household limit right up front. Another one coin per household limit for a specific period of time and then with another Notice published, move the limit up or remove it all together depending on conditions at that point.
IMHO Bilelle

Don Rasky June 14, 2016 at 3:13 pm

Purchased only one coin. Was told that it was “damaged in transit”. The mint did not contact me on this at all. If I was not constantly checking the web site I never would have known. O.K., damaged in transit and returned to the U.S. Mint. So my question to them was when would it be re-sent, or a substitute sent. The mint told me, several times, that I could not get my a coin, or another, period. They never could say why though. If I bought a coin, damaged in transit (not my fault) why could I not get another one?? They stated that I could only get a refund. Even Wal-Mart will send you another item if the original is damaged in transit (not my fault). Finally got my coin. But what a struggle!! I have read on line of similar stories from others who have gone through the same thing that I did. I wish them luck.

Christopher Williams July 25, 2016 at 9:08 pm

I was watching Mike “Sold Out, Limited Edition” Mezak on Sunday (07/24/2016) night and he was still hawking his inventory of “2016 Mercury Dimes.”

Bolelle July 26, 2016 at 11:59 am

Does anyone have any info from the mint on the status of the 2016 Gold Mercury Dimes that are left over from the 20
Minute Sale? 7-26-16
Bilelle

jim July 26, 2016 at 10:06 pm

I complained to Sec Lew about mint management, product schedule, etc. who then passed the buck to somebody at the mint and the response I got was the following:

“The Mercury Dime Centennial gold Coins proved to be extremely popular, with orders for coins reaching the maximum production limit very quickly once they were placed on sale at noon Eastern Time on April 21. The Mint continues to explore alternatives to ensure a wider distribution of its products.

The Mercury Dime Centennial Gold Coin is currently unavailable. You may register for a ‘REMIND ME’ message [I’ve done so for a couple different products and never have I been reminded] if and when we are taking orders again.”

It sounds to me like they gave it their one shot and once that sold out have moved onto other things. If the law says they have to sell the standing and walking liberty gold coins (still TBD on the product schedule) then I expect they will, but plan on a very short selling window. The Long Beach Coin Expo runs from Sep 08-10 and if I can I’ll go and ask at the mint booth though since they don’t work for the mint directly they probably won’t know anything anyway.

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