1792 H10C Half Disme, Judd-7, Pollock-7, R.4 -- Obverse Damage -- NGC Details. AU....
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It is possible under several circumstances for winning bids to be between increments. It is also possible for an existing bid to be outbid by less than a full increment, sometimes by only $1. This usually happens when two bidders feel that a lot is worth about the same amount, but one places an off-increment bid. Generally when this happens, the Current Bid was much lower than the high secret maximum bid when the off-increment bidder placed his bid.
For example: On Tuesday, you bid $1500 against Bidder A's Maximum Bid of $1000, raising Current Bid to $1100. Then on Thursday, Bidder B, seeing a Current Bid of $1100, guesses the final price and decides to bid $1501, outbidding your Maximum Bid by $1. You would now have to bid $1600 through Heritage Internet bidding or $1550 on Heritage Live (if available for the auction) to possibly win that lot. Next time, maybe you'll bid $1502 and outbid Bidder B by $1!
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Reserve (If Any) Not Posted Yet:
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Consignor Has Not Yet Submitted a Reserve:
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This lot is being sold without a consignor reserve. (Note: By law, consignors may still bid under certain conditions, but they are responsible for paying the full Buyer's Premium and Seller's Commission if they do.)
Reserve Not Met:
A reserve has been posted on this lot, but no bids have met the reserve. The current bid has been set to the reserve amount, and the next bid will meet the reserve.
Reserves have been posted for this auction, and there is a reserve on this lot that has already been met.
Lots bearing estimates and without Consignor Reserve shall open at Auctioneer's discretion (usually 25% to 60% of the low estimate).
What's This?The owner of this item has indicated that they would sell this item at the amount, although their acceptance of your offer is required before the item can be purchased.
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Not SoldThis indicates an item that did not sell at auction because it did not receive bids equal to or greater than the reserve (minimum bid) amount set by the consignor, or the opening bid.
Opening Bid:Lots bearing estimates and without Consignor Reserve shall open at Auctioneer's discretion (usually 25% to 60% of the low estimate).
Extended Payment Plan
Available on select items as noted on the item page in the bidding area.
- Minimum invoice total is $2,500.
- You may take up to four (4) months to pay the balance (monthly payments of at least 1/4th of invoice total).
- Minimum down payment is 25% within two weeks of the sale date. All down payments made beyond this 2 week window will require a 35% down payment, and the term will be shortened to 3 months.
- Subject to a refundable 3% set-up fee, which will be paid as part of your 1st monthly installment. This fee will be refundable upon completion of the plan if the following conditions are satisfied:
- There is no penalty for paying off early.
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- With pre-approved credit application
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Note: This offer may not be available on some items.
Terms and Conditions
Extended Payment Plan for Heritage Owned Inventory Items(excludes Virtual Bourse, Comic Market and Virtual Sports Show)
- Minimum invoice total is $2,000.
- You may take up to 6 months to pay the balance (monthly payments of at least 1/6th of invoice total).
- Minimum down payment is 20%.
- Payments (including the down payment) must be made on-time per your specific EPP schedule (there will be a brief grace period).
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- There is no penalty for paying off early.
- Non-dealers only
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Note: The extra increment won't be placed until the item is up for live bidding, so it is possible that you could be outbid by a bid placed prior to live bidding, such as another proxy bid, live proxy bid, mail bid, etc., which could result in your losing the lot by that one increment. For the same reason, it is also possible that a currently losing bid with bid protection placed could potentially win the lot once the lot is subject to live bidding and the Bid Protection increment(s) is placed.
First Circulating Coin Struck on
Equipment From the U.S. Mint
The Old French word "disme" refers to one-tenth, in the United States' case that part of a dollar, linguistically related to Latin decima pars, also meaning the tenth part. By the time the Mint struck its first silver half dimes in the newly opened facility, in 1794 -- bureaucratic requirements limited the 1793 coinage to copper cents and half cents -- the "s" in disme had been dropped, in favor of the anglicized "dime." Despite their listing as a pattern in the Judd reference (Judd-7), the 1792 half dismes were coins intended to circulate, and circulate they did. It is difficult to make a firm estimate either of the original number minted -- most numismatists guess 1,500 pieces, based on the surviving evidence -- or the number that survive today. The variance there is wider, but somewhere from 100 to 300 survivors is in the ballpark.
The number of survivors is, at any rate, far less important than the number of collectors who desire to obtain an example of the 1792 half disme, a coin for which a strong case could be made that it is the most important U.S. Mint circulation issue, simply because it was the first -- even if it did predate the actual Mint structure by a few months. (The 1787 Fugio cents or coppers were also a circulating issue, the first struck under the authority of the United States, but they were not struck on U.S. Mint equipment or under Mint auspices, as the Mint itself did not yet exist.)
President Washington referred to the 1792 half disme issue in his November 1792 address to Congress: "There has also been a small beginning in the coinage of half dimes, the want of small coins in circulation calling the first attention to them."
The 1792 half dismes, as mentioned, were not only a monetary precursor of the silver coinage that followed, they were also stylistic precursors. Just as "disme" became "dime," the legend LIBERTY PARENT OF SCIENCE AND INDUSTRY, variously abbreviated or not on the 1792 half dismes, silver center cents, Birch cents, and the silver and copper 1792 dismes, became simply on the 1793 and later Mint issues -- LIBERTY. The right- or left-facing female Liberty personification, in many different incarnations and interpretations, would become a standard for all circulating coinage of the 18th and 19th centuries, until the portrayal of "dead presidents" (unfortunately) prevailed.
A collector could spend a lifetime assembling a tiny set of coins representing the first U.S. Mint issues of the various denominations and metals in the finest obtainable (or affordable) condition. A short list of such issues might include:
--1792 half disme, Judd-7 (circulating Mint issue, but not struck in the Mint building)
--1793 Liberty Cap half cent and 1793 Chain AMERI. (Sheldon-1) cent. The latter is considered the first coin struck in the U.S. Mint facility in 1793.
--1794 Flowing Hair half dime (first of the denomination struck in the Mint)
--1794 half dollar and 1794 silver dollar
--1795 half eagle
--1796 dime and 1796 No Stars quarter eagle
It is exciting to consider that the assembling of a collection of nine coins could be a life's work for some history-minded numismatist. The present piece might put such a collector far along the path, as it offers a wealth of detail with one drawback that might make it more affordable. The surfaces are glossy golden-brown and blue-steel overall, showing semiprooflike reflectivity on both sides and only a trace of actual wear. Most of the original detail remains, and a few minor contact marks appear, but the coin has a deep attempted puncture at 10 o'clock on the obverse, as though the coin were being holed for suspension. The attempted puncture does not penetrate to the reverse, but the surfaces are a tad wavy. This coin is still quite attractive and would be an exceptional example if not for the obverse damage. Even in this condition, it is inconceivable that this coin will not attract serious competition from multiple bidders.
Service and Handling Description: Coins & Currency (view shipping information)