Earth‐based radar observations of the spin state of Mercury at 35 epochs between 2002 and 2012 reveal that its spin axis is tilted by (2.04 ± 0.08) arc min with respect to the orbit normal. The direction of the tilt suggests that Mercury is in or near a Cassini state. Observed rotation rate variations clearly exhibit an 88‐day libration pattern which is due to solar gravitational torques acting on the asymmetrically shaped planet. The amplitude of the forced libration, (38.5 ± 1.6) arc sec, corresponds to a longitudinal displacement of ∼450 m at the equator. Combining these measurements of the spin properties with second‐degree gravitational harmonics (Smith et al., 2012) provides an estimate of the polar moment of inertia of MercuryC/MR2 = 0.346 ± 0.014, where M and R are Mercury's mass and radius. The fraction of the moment that corresponds to the outer librating shell, which can be used to estimate the size of the core, is Cm/C = 0.431 ± 0.025. Key Points Mercury's obliquity is (2.04 +/‐ 0.08) arcminutes Mercury exhibits a longitude libration of amplitude (37.8 +/‐ 1.4) arcseconds Mercury's moment of inertia is 0.346 +/‐ 0.014