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Lot
5565

1792 H10C Half Disme, Judd-7, Pollock-7, R.4, VG10 PCGS....

2013 January 9-14 US Coin FUN Signature Auction - Orlando #1181

 
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Auction Ended On: Jan 10, 2013
Item Activity: 10 Internet/mail/phone bidders
2,218 page views
Location: Orange County Convention Center
North/South Building
9400 Universal Blvd.
Orlando, FL 32819

Description:

Famous 1792 Half Disme, VG10
Judd-7, Pollock-7
First Circulating U.S. Coin
1792 H10C Half Disme, Judd-7, Pollock-7, R.4, VG10 PCGS. Although the 1792 half disme has traditionally been collected with the pattern series, most present-day numismatists consider the issue to be the first U.S. coin struck for circulation. Authority for this view comes from an unimpeachable source, President George Washington himself. In his November 1792 address to Congress, Washington remarked, "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 number of coins produced also argues strongly for the business-strike nature of this premier U.S. Mint product, as somewhere between 1,500 and 2,000 pieces were originally struck. Later accounts suggest the coins were distributed by Washington himself, either through presentation to European dignitaries or as gifts to friends. The majority of examples seen today are worn, suggesting that the issue circulated extensively at, or near, the time of issue.
While the coins were produced under the authority of the Mint Act of April 1792, using Mint personnel and equipment, the 1792 half dismes actually predate the opening of the first U.S. Mint building by a few months. The Mint facilities were not ready to begin coinage operations in the summer of 1792, and much of its equipment was stored in the cellar of Philadelphia sawmaker John Harper on Sixth Street, about a block away. It was here that the half dismes were struck, on July 12, 1792 according to Thomas Jefferson's household account book. From this modest beginning, the 1792 half disme has become one of the most important and valuable issues in the U.S. coinage series. The surviving population is estimated as 250-400 pieces in all grades.
The present coin is well-centered on the obverse, with date and legend easily legible. The portrait is complete in outline and retains some interior detail. The reverse is not quite as sharp, but the surfaces of both sides show only minor abrasions with pleasing silver-gray and golden-brown patina. Population: 3 in 10, 72 finer (11/12).(Registry values: P9) (PCGS# 11020)

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