Designated a National Historic Landmark in 1991, she now serves as a "Maine windjammer", offering multi-day sailing cruises to tourists.

Her normal sailing rig consists of a mainsail, foresail, two headsails, and no topsails.

[3] Mercantile was built on Little Deer Isle, Maine by members of the Billings family over three seasons, and was launched in 1916.

In 1943 she was briefly involved in the mackerel fisheries of southern New England, before she was sold to Frank Swift and adapted for use as a tourist vessel.

Although she has undergone several ownership changes, she has always operated in the tourist trade out of Camden Harbor.