1792 Half Disme. LM-1, Judd-7, Pollock-7. Rarity-4. Silver. Reeded Edge. Genuine--Flattened (PCGS).<strong>EF Details. </strong>This bold and intriguing example delivers strong eye appeal and sharpness to represent this coveted early issue. The dominant slate-grey patina is accented by an underlying silver pearlescence and glints of powder blue in the fields. Libertys portrait is impressively preserved, showing strong profile features and intricate hair detail. The obverse is pleasantly smooth, with a few tiny blemishes and traces of roller marks throughout. A planchet fissure near U of UNITED allows for ready identification of this particular specimen, and a thin scratch below ICA has long worn into the overall complexion. The reverse shows a crazed texture, potentially a result of the noted flattening, thought the overall eye appeal remains considerably strong for the issue. <p>The new reference on 1792 coinage by Smith, Orsoz, and Augsburger entitled <em>1792: Birth of a Nations Coinage </em>(2017) has been a gift to enthusiasts of this early era of the Mint and has helped shed some light on the present example. While the current piece tells an incredibly interesting story, it leaves us with more questions than answers. It is potentially the example offered in Ebenezer L. Masons October 1880 sale of the Smith Cabinet which was described as "large planchet" in lot 1263. Nearly a century later there emerges a similarly puzzling description for a half disme in Frenchs sale of October 1970 that notes "it is possible that the coin was put through rollers or hammered out while under some protection." <p>We first handled this example over 40 years ago in our (Bowers and Ruddys) sale of the Harold A. Blauvelt Collection, where we suggested that "the planchet was round when made and was subsequently somewhat flattened by being placed between two pieces of leather and pounded with a hammer. Good detail remains but the planchet is irregular, slightly larger than normal, and slightly thinner than normal." At some point prior to August 2001 it was certified by XF-45 by PCGS and was offered at auction a couple of times in the following years, before eventually being placed in the current "Flattened" holder which most accurately represents the coins condition. <p>Despite this impairment, it remains an important artifact of U.S. history, drawing strong interest from a wide range of collectors and scholars. It is one of just 166 confirmed survivors of this inaugural issue, offering incredible rarity and significance that is seldom seen. From the Collection of Thaddeus A. Tatum III. Earlier ex Pine Trees sale of May 1976, lot 1; the Harold Blauvelt Collection; our (Bowers and Ruddys) sale of February 1977, lot 997; Dr. Joseph M. Seventko; Heritages sale of August 2001, lot 8301; the Casa Becca del Norte Collection; Heritages sale of January 2008, lot 2740; Heritages sale of January 2009, lot 3657; our (Teletrades) sale of February 2009, lot 1364; Heritages sale of August 2016, lot 3991.<p>Also possibly ex E.L. Masons sale of the Smith cabinet, October 1880, lot 1263; Frenchs sale of October 1970, lot 655.
