The 1792 Half Dime, also known as the “Half Disme,” holds a distinguished place in American numismatic history.
Recognized 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 exceeding $1.3 million, underscoring its immense value.
Historical Significance of the 1792 Half Dime
In 1792, the United States was in the nascent stages of establishing its own currency system. The Coinage Act of 1792 laid the foundation for the U.S. Mint and authorized the production of various denominations, including the half-dime.
The 1792 Half Dime is widely considered the first coin struck under this new system, symbolizing the country’s economic independence.
Design and Features
The obverse of the 1792 Half Dime features a left-facing bust of Liberty, adorned with flowing hair, encapsulating the youthful spirit of the nation.
The reverse showcases a small eagle with outstretched wings, encircled by the inscription “UNITED STATES OF AMERICA.” These design elements reflect the artistry and symbolism of the era.
Mintage and Rarity
Approximately 1,500 of these coins were minted in 1792, making them exceedingly rare today. Many were released into circulation, and over time, the majority have been lost or damaged.
It is estimated that only a few hundred survive, with even fewer in mint condition, contributing to their high desirability among collectors.
Auction Records and Market Value
The value of the 1792 Half Dime has seen a significant appreciation over the years. In January 2013, a specimen graded MS68 by NGC sold for $1,145,625 at a Stack’s Bowers auction. This record underscores the coin’s status as a premier collectible.
Factors Influencing Value
Several factors contribute to the high value of the 1792 Half Dime:
- Historical Importance: As one of the first coins minted by the U.S., it holds unparalleled historical significance.
- Rarity: With a limited mintage and few surviving specimens, its scarcity drives demand.
- Condition: Coins in superior condition, especially those graded MS65 and above, command premium prices.
- Provenance: Coins with documented histories or from notable collections often fetch higher prices.
Key Details of the 1792 Half Dime
| Feature | Description |
|---|---|
| Year of Minting | 1792 |
| Mintage | Approximately 1,500 |
| Composition | Silver |
| Diameter | 17.5 mm |
| Design | Obverse: Liberty bust; Reverse: Small eagle |
| Notable Auction | January 2013: MS68 specimen sold for $1,145,625 at Stack’s Bowers auction |
Collecting the 1792 Half Dime
For collectors interested in acquiring the 1792 Half Dime, it’s essential to consider the following:
- Authentication: Due to its value, ensure the coin is authenticated by reputable grading services.
- Condition Assessment: Understand the grading system; even slight differences in condition can significantly impact value.
- Market Research: Stay informed about recent auction results and market trends to make informed purchasing decisions.
The 1792 Half Dime stands as a testament to America’s early efforts in establishing a national currency. Its rich history, coupled with its rarity and the artistry of its design, makes it a centerpiece in numismatic collections. As evidenced by recent auction records, this coin not only holds historical value but also represents a significant investment opportunity for collectors worldwide.
FAQs
Why is the 1792 Half Dime so valuable?
Its value stems from its historical significance as one of the first U.S. coins, its rarity due to limited mintage, and high demand among collectors.
How can I verify the authenticity of a 1792 Half Dime?
Consult reputable coin grading services and seek evaluations from certified numismatic experts to ensure authenticity.
What factors affect the value of the 1792 Half Dime?
Condition, rarity, historical significance, and provenance are primary factors influencing its value.
