1792 half disme

The coin is {{Cvt|16.5|mm}} in diameter. The obverse depicts the head of Liberty and the inscription {{small|LIB. PAR. OF SCIENCE & INDUSTRY}}, "Liberty, parent of Science and Industry."{{Cite web|url=https://www.amrevmuseum.org/read-the-revolution/forged-in-philadelphia|title=Forged in Philadelphia - Museum of the American Revolution}} The reverse shows {{small|UNI. STATES OF AMERICA}} and {{small|HALF DISME}} along with an eagle and a star.{{Cite web|url=https://coinauctionshelp.com/Half_Disme_First_U.S._Coin_Minted.html?amp=1|title=1792 Half Disme (Deem) First Coin US Coin Image, Facts|website=coinauctionshelp.com}}

When speaking to the House of Representatives in November 1792, President Washington mentioned the "want of small coins in circulation" and stated that he had begun work on establishing a U.S. Mint and that some half dismes had been produced already. At this point, most of the personnel had been hired, but the Mint's buildings and machinery were not yet ready. As a result, the half dismes, which had been struck in or around July 1792, were produced using the private facilities of local craftsman John Harper, although under the auspices of official Mint personnel. In his personal log book, Secretary of State Thomas Jefferson recorded the receipt of 1,500 specimens on July 13.

Because of President Washington's connection with these early coins, numismatic folklore holds that the portrait on the obverse is that of First Lady Martha Washington and that some of the coins were struck using melted-down silverware from the Washington household.

{{cite book

|author1=Garrett, J. |author2=Guth, R.

| title = 100 Greatest U.S. Coins

| year = 2003

| publisher = H.E. Harris & Co

| location = Atlanta, GA

| isbn = 0-7948-1665-7

| page = 35

}}

However, there is no solid evidence for either of these assertions.

{{cite web

| url = http://www.stacks.com/lotdetail.aspx?lrid=AN00005592&fs=true

| title = 1792 half disme. Judd-7, Pollock-7. Rarity-4

| year = 2004

| work = Stack's: Rare Coins for Sale: Numismatic Auctions

| publisher = Stack's, LLC

| quote = The legend part of the story has it that George Washington personally donated tableware to be melted for the silver, and in return received these pieces to give as gifts to VIPs. Another bit of folklore is that the image is of Martha Washington, which does not square at all with reality (for example, a contemporary portrait of Martha Washington, an image of which is in our research file, looks nothing at all like the portrait on the half disme).

| accessdate= 22 April 2007 | archiveurl= https://web.archive.org/web/20070314180023/http://www.stacks.com/lotdetail.aspx?lrid=AN00005592&fs=true| archivedate= 14 March 2007 }}

To the contrary, evidence uncovered from Thomas Jefferson's memorandum book shows that he provided "75 (Mexican) Silver Dollars" and received the first 1,500 half dismes. He then spent those coins on his trip home to Monticello.{{Cite web|last3=Augsburger|first1=Pete |last1=Smith |first2=Joel J. |last2=Orosz |first3= Leonard|title=A More Accurate History of the 1792 Half Disme|url=https://blog.money.org/coin-collecting/history-of-the-1792-disme|access-date=2021-09-04|website=blog.money.org|date=14 July 2020 |language=en}}

Although the exact number is not known, it is believed that between 2,000 and 3,500 specimens were produced. Approximately 10% of these survive today; one expert estimated between 250 and 400 half dismes exist, and most appear to have been used in circulation for some time. An about{{clarify|date=August 2024}} uncirculated (AU55 on the Sheldon coin grading scale) 1792 half disme was auctioned for $138,000 on July 24, 2004.{{cite web|url=http://www.anrcoins.com/lotdetail.aspx?lrid=AN00005592|title=American Numismatic Rarities, the Oliver Jung Collection, July 24, 2004|date=2004-07-24| accessdate= 21 August 2006 }} A 1792 half disme graded MS65 was valued in 2018 on the American reality television series Pawn Stars at $500,000–600,000.{{cite web |date=2018 |title=Pawn Stars |url=https://www.youtube.com/watch?v=yTKbcAKbQtU&list=PLZ8FA96YO7hdBGCbGQLlLC55lUSVFBpNj&index=14 |access-date=10 February 2022 |website=Pawn Stars - Youtube}} A specimen strike from the Starr collection, graded MS67 by PCGS, sold for $1,322,500 on April 26, 2006. The highest numerically graded piece, an NGC MS68, sold for $1,500,000 by private treaty transaction in 2007.{{cite web|url=http://news.coinupdate.com/finest-known-half-disme-0651/ |title=Finest Known 1792 Half Disme To Be Displayed}}

Although nearly all 1792 half dismes were produced in a silver alloy, a unique pattern piece in copper is also known.

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{{reflist}}

• [http://www.coincommunity.com/coin_histories/half_disme_1792.asp 1792 Half Disme Complete History]
• [https://web.archive.org/web/20060209103928/http://www.coinresource.com/guide/photograde/pg_05cBirchHalfDisme.htm CoinResource.com - Birch Half Disme 1792]

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Category:Five-cent coins of the United States