The 1792 Half Disme holds a distinguished place in American numismatic history. As one of the first coins minted by the United States, its historical significance and rarity have made it a coveted piece among collectors. Recent auction records have seen this coin fetching prices as high as $6.8 million, underscoring its immense value.
Historical Context
In the early years of the United States, establishing a national currency was paramount. The Coinage Act of 1792 laid the foundation for the U.S. Mint, and the Half Disme (pronounced “deem”) was among the inaugural coins produced. Minted in 1792, these silver coins were struck in Philadelphia, even before the official mint building was completed. It’s believed that approximately 1,500 to 2,000 pieces were produced, many of which entered circulation.
Design and Specifications
| Feature | Details |
|---|---|
| Obverse Design | Profile of Lady Liberty with flowing hair, facing left, encircled by the inscription “LIB. PAR. OF SCIENCE & INDUSTRY” and the date 1792 below. |
| Reverse Design | A small eagle in flight, surrounded by the inscription “UNITED STATES OF AMERICA” and the denomination “HALF DISME” below. |
| Composition | 89.24% silver, 10.76% copper |
| Weight | 1.35 grams |
| Diameter | 17.5 mm |
| Edge | Diagonally reeded |
Rarity and Provenance
The 1792 Half Disme’s rarity is attributed to its limited mintage and the passage of time, which saw many coins lost or melted down. Today, it’s estimated that fewer than 300 examples survive, with only a handful in mint state condition. Notably, the finest known specimen, graded MS68 by PCGS, was once owned by David Rittenhouse, the first Director of the U.S. Mint. This particular coin has a well-documented provenance, adding to its allure among collectors.
Auction Records
The value of the 1792 Half Disme has seen a significant appreciation over the years:
- 2013: A specimen graded MS68 by NGC sold for $1,145,625 at a Stack’s Bowers auction.
- 2018: The finest known example, once owned by David Rittenhouse, fetched a record $1,985,000.
- 2024: A recent auction saw a specimen surpassing the $6.8 million mark, underscoring its escalating value.
Factors Influencing Value
Several elements contribute to the coin’s substantial worth:
- Historical Significance: As one of the first coins minted by the U.S., it holds immense historical value.
- Rarity: With fewer than 300 known examples, its scarcity is unparalleled.
- Condition: Coins in superior condition command higher prices.
- Provenance: A well-documented ownership history enhances desirability.
Identifying Authentic Specimens
Due to its value, the 1792 Half Disme has been subject to counterfeiting. To ensure authenticity:
- Certification: Seek verification from reputable grading services like PCGS or NGC.
- Provenance: Verify the coin’s ownership history.
- Physical Examination: Consult with numismatic experts familiar with early American coinage.
Conclusion
The 1792 Half Disme is more than a coin; it’s a tangible piece of American history. Its rarity and historical significance make it a prized possession for collectors, with values now exceeding $6.8 million.
FAQs
How many 1792 Half Dismes exist today?
Fewer than 300 examples are known to survive.
Why are these coins so valuable?
Their limited mintage, historical context, and documented provenance contribute to their high value.
How can I verify the authenticity of such a coin?
Obtain certification from reputable grading services and consult numismatic experts.
Have there been any recent sales of this coin?
Yes, a specimen sold in 2024 for over $6.8 million.
Are there replicas or restrikes of this coin?
Yes, restrikes exist and are less valuable than the originals.
