The 1792 Half Disme holds a distinguished place in American numismatic history as one of the earliest coins produced by the United States Mint. Its rarity and historical significance have made it a coveted piece among collectors, often fetching remarkable sums at auctions.
Historical Significance
The 1792 Half Disme, pronounced “deem,” is widely recognized as the first official coin minted under the authority of the United States.
Approximately 1,500 to 2,500 pieces were struck in July 1792, even before the Mint’s facilities were fully operational. These coins were produced in the private facilities of local craftsman John Harper, supervised by Mint personnel.
The obverse of the coin features a bust of Liberty with flowing hair, accompanied by the inscription “LIB. PAR. OF SCIENCE & INDUSTRY.” The reverse showcases a small eagle in flight, encircled by “UNITED STATES OF AMERICA” and the denomination “HALF DISME.”
Role in Early American Currency
President George Washington, in his address to Congress on November 6, 1792, referred to these coins as “a small beginning” in establishing a national currency. This highlights their intended role as functional currency for everyday transactions, rather than as experimental or pattern pieces.
Rarity and Survival of the Coins
Over the years, the 1792 Half Disme has become exceedingly rare. Experts estimate that only about 10% of the original mintage survives today, making it a highly sought-after coin. This scarcity, coupled with its historical importance, has driven its extraordinary value in the numismatic market.
Auction Highlights of the 1792 Half Disme
The 1792 Half Disme consistently garners impressive results at auctions. A specimen graded MS68 by NGC was sold by Stack’s Bowers in January 2013 for an astonishing $1,145,625. Similarly, a coin graded AU50 by PCGS fetched $132,000 in April 2022. These figures underscore the coin’s esteemed status among collectors.
Notable Auction Results for the 1792 Half Disme
| Grade | Auction House | Date | Sale Price |
|---|---|---|---|
| MS68 | Stack’s Bowers | January 2013 | $1,145,625 |
| AU50 | Stack’s Bowers | April 2022 | $132,000 |
| F15 | Stack’s Bowers | May 2013 | $58,750 |
Why the 1792 Half Disme Remains Iconic
The 1792 Half Disme represents more than just an early piece of currency; it is a tangible artifact from the United States’ formative years. Its ties to historical figures such as George Washington and Thomas Jefferson further amplify its allure.
For collectors, owning a 1792 Half Disme is not only about its monetary value but also about preserving a piece of American history.
The 1792 Half Disme remains a symbol of early American history and innovation. Its rarity, historical significance, and connection to the origins of the United States Mint ensure its place as one of the most prized coins in the numismatic world. For collectors, the 1792 Half Disme is a treasure that offers a glimpse into the nation’s beginnings.
What makes the 1792 Half Disme so valuable?
The coin’s value is rooted in its status as one of the first U.S. Mint coins, its limited mintage, and its historical significance, including associations with figures like George Washington.
Have there been recent sales of the 1792 Half Disme?
Yes, notable sales include a coin graded MS68 sold for $1,145,625 in January 2013 and a coin graded AU50 sold for $132,000 in April 2022.
How can authenticity of a 1792 Half Disme be verified?
Authenticity can be verified through reputable grading organizations such as the Professional Coin Grading Service (PCGS) or Numismatic Guaranty Corporation (NGC).
