1794 Flowing Hair Half Dime. LM-4. Rarity-4. AU Details--Planchet Flaw (PCGS). Our firm first offered this lovely 1794 half dime in Stacks April 1969 sale of the fabulous R.L. Miles, Jr. Collection, where it was cataloged as:<p><em>"A needle-sharp strike with some proof-like surface. Struck on an imperfect planchet with a tiny segment missing from the edge below the date. This is a perfect example of the problems the mint had during its first few years. Truly a splendid coin nevertheless, and worthy of a substantial bid in spite of its mint-caused defect."</em><p>We echo that last statement today, for the planchet flaw is extremely minor and does not encroach upon any design elements apart from a few border denticles on both sides. Generally silver-gray in appearance with faint golden overtones evident at isolated viewing angles.<p>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 1998 reference <em>Federal Half Dimes: 1792-1837</em>. In addition to its historic significance, therefore, the 1794 is such an important coin in U.S. numismatics because of its scarcity even in the lowest circulated grades. Mint State coins are nothing short of rare, and sharp AU examples such as this are only marginally less so. With an impressive provenance, as well, this piece is surely destined for inclusion in another advanced cabinet. From our (Stacks) sale of the R.L. Miles, Jr. Collection, Part II, April 1969, lot 388; our (Stacks) sale of September 1975, lot 95. Lot tags included.
