1792 Half Disme. LM-1, Judd-7, Pollock-7. Rarity-4. Silver. Reeded Edge. VG Details--Holed (PCGS).A pleasing example of this iconic American rarity. The hole through the B of LIBERTY is smooth and well patinaed, indicating a considerable time spent cherished as jewelry long ago. The obverse remains otherwise uniformly bold, while the reverse shows patches of wear on either side of the eagle. Golden tan and olive brown hues dominate the complexion, with areas of darker slate-grey surrounding the central elements. A significant example that is both original and delightful to examine in-hand. Unlisted in the exhaustive census compiled by the authors of 1792: Birth of a Nations Coinage (Smith, Orosz, and Augsburger 2017).On October 15, 1792, George Washington received a report from his Secretary of State Thomas Jefferson that made note that there has been also a small beginning in the coinage of the half dismes, and included this milestone in his Annual Address to Congress that November. Struck from $75 of silver bullion deposited by Jefferson, the coins were produced in the cellar of John Harpers shop several blocks from where the first United States Mint was still being readied. Jefferson took delivery of 1,500 half dimes on July 13, 1792, and apparently distributed the new coins far and wide, as almost all of the few hundred known specimens are in low grades and often damaged. Indeed, many have been found throughout the Eastern Seaboard, including heavily worn examples found in New Jersey as well as Washingtons and Jeffersons home state of Virginia. Ever since the very beginnings of American numismatics, the 1792 half dismes with their direct connections to the nations Founding Fathers have been among the most coveted of all federally issued coins regardless of condition. Steeped in history, this affordable example of one of the most significant American issues should not be overlooked.Ex Heritages sale of January 2019, lot 3554.
