1794 Flowing Hair Half Dime. LM-3. Rarity-4. MS-64 (PCGS). OGH. A truly spectacular survivor from this inaugural issue, the surfaces are toned in shades of gold, lavender and sapphire across each side. Considerable luster blankets the fields and complements the impressive sharpness of the design elements. Absolutely captivating to examine under a light source and among the finest known for both the variety and the overall issue.Writing in the 1998 book <em>Federal Half Dimes: 1792-1837</em>, Russell J. Logan and John W. McCloskey describe the 1794 LM-3 as, “A scarce die marriage that is difficult to locate in mint state.” In fact, it has been nearly a decade since our August 2010 sale of the MS-67 (NGC) Cardinal Collection specimen for $132,250, which is the last time we handled an Uncirculated example.Discounting the "pattern" 1792 Half Disme that was prepared in temporary facilities before construction of the actual Mint building, the 1794 is the first Half Dime attributable to the United States Mint. It is one of only two issues in the short-lived Flowing Hair series designed by Robert Scot, the total mintage of which is 86,416 pieces. The vast majority of those coins were delivered from 1795-dated dies, and the mintage of the 1794 is estimated at just 7,756 pieces by Logan and McCloskey in their aforementioned Half Dime book. In addition to its historic significance, therefore, the 1794 is such an important coin in U.S. numismatics because of its scarcity even in circulated grades. Mint State coins are nothing short of rare, especially from a market availability standpoint, such is the strong demand that this issue enjoys among advanced collectors. With superior quality and eye appeal, this piece is surely destined for an advanced PCGS Registry Set. Just 12 coins have been certified finer across all varieties. From the Macon Collection.
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