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1792 H10C Half Disme, Judd-7, Pollock-7, R.4, MS64 PCGS....

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Description

1792 Half Disme, Judd-7, MS64
First Circulating U.S. Mint Coinage
Condition Census Example

1792 H10C Half Disme, Judd-7, Pollock-7, R.4, MS64 PCGS. The 1792 half disme is among the most important issues in all of American coinage. Traditionally collected with the pattern series, recent research confirms the 1792 half disme was actually the first circulating coinage struck by the authority of the United States Congress. It set the stage for all that would follow in the development of the nation's monetary system. The 2025 Guide Book lists the mintage for the 1792 half disme as 1,500 to 2,000 pieces. The surviving population probably numbers about 150 examples in all grades, with about 20 specimens in Mint State. Heritage auctions is privileged to offer a Condition Census (MS64 PCGS) example of this celebrated rarity in this important offering.

Design of the 1792 Half Disme, Judd-7
The obverse features a bust of Liberty facing left, with short curly hair and the date below. The inscription LIB. PAR. OF SCIENCE & INDUSTRY is around the border. The reverse showcases a small eagle facing left with wings spread in the center. The denomination HALF DISME and a single star are located below, with the legend UNI. STATES OF AMERICA around. Struck in silver, with a diagonally reeded edge. Die alignment was in medal turn. A unique copper impression is known (Judd-8).

Mintage and Distribution
The Mint Act of April 2, 1792 called for the establishment of a federal mint to strike the nation's coinage. The government was located in Philadelphia at the time, so naturally the nascent Mint was established there. Well-known scientist Dr. David Rittenhouse was appointed Mint Director and he energetically set about the task of finding a suitable location, acquiring the necessary machinery, and hiring the skilled staff to make the institution fully operational. Much of the equipment, including a coin press, was on hand by mid-July and stored in the cellar of sawmaker John Harper's establishment at the corner of Sixth and Cherry Streets, near the site of the prospective Mint building.

Eager to begin coinage as a symbol of national pride and security, Secretary of State Thomas Jefferson deposited $75 worth of silver to be coined into half dismes in early July, before the official Mint building was ready for operations. The coins were struck using the Mint equipment in Harper's cellar and Jefferson took delivery of 1,500 half dismes on July 13, 1792, just before departing Philadelphia on a trip to his home in Monticello. Jefferson spent the half dismes liberally on his trip and recorded using them as tips to servants and gifts to children in his Memorandum Book. President George Washington mentioned this "small beginning" of U.S. federal coinage in his Annual Address to Congress in November 1792.

For many years, numismatists believed the 1,500 coins struck in Harper's cellar constituted the entire mintage of 1792 half dismes. Recent research published by Len Augsburger, Joel Orosz, and Pete Smith in their outstanding reference 1792: Birth of a Nation's Coinage confirms that a second production run was accomplished after the Mint building was fully operational in October 1792. Based on die evidence, the authors also speculate that a third striking period may have occurred later. The mintage for these later striking periods was not recorded, but they were undoubtedly small, validating the Guide Book estimate of 1,500 to 2,000 pieces for the entire mintage.

The 1792 half dismes were widely distributed at the time of issue. Some contemporary recipients diligently preserved specimens as mementos, for their novelty and historic importance, but most examples seen today are heavily worn, testifying to their many years of use in commerce. The 1792 half disme has been a popular issue with collectors since the earliest days of the hobby in this country because of their direct connection to the Founding Fathers and historic significance.

The Present Coin
The present coin is an attractive Choice specimen of this important historic issue, from the celebrated collection of Bruce Sherman. The design elements are well-detailed, with just a touch of the usual softness on some hair strands and the feathers on the eagle's breast. The coin was struck slightly off center on both sides and some light striations show on some obverse dentils. Light recutting is evident on the base of I in UNI and the A in STATES. The well-preserved surfaces are blanketed in vivid shades of steel-blue, amber, and lilac-gray toning, with a mix of satiny mint luster and prooflike reflectivity underneath. Overall eye appeal is outstanding. A Condition Census example of this premier American coinage rarity, this coin has not been publicly offered for more than 20 years. This lot represents an important opportunity for the advanced collector and we expect keen competition from early half dime, pattern, and type collectors alike when this lot is called. The 1792 half disme is listed among the 100 Greatest U.S. Coins. This coin is pictured as #64-4 on page 155 of 1792: Birth of a Nation's Coinage. Population: 8 in 64, 5 finer (2/25).

Condition Census of 1792 Half Dismes
This list is largely based on the census of 1792 half dismes published in 1792: Birth of a Nation's Coinage. Grades are per the last auction appearance, unless a subsequent certification event is known. It is possible that some coins have been resubmitted or crossed over between the grading services since their last public offering.
1. MS68 PCGS. David Rittenhouse; Rittenhouse family; ANA Convention sale (Henry Chapman, 10/1919), lot 56; George L. Tilden; Lindsey Collection (Thomas L. Elder, 6/1921), lot 2029; private collector; unnamed New England museum; Public Auction Sale (Stack's, 10/1988), lot 536; unknown intermediaries; Jay Parrino; "Knoxville Collection" (early 1990s-2003); private collector (2003-1/2007); Steve Contursi (1/2007-7/2007); Cardinal Collection, acquired for $1,500,000; Americana Sale (Stack's, 1/2013), lot 13093, brought $1,145,625 to Brian Hendelson as MS68 NGC, then crossed to an MS68 PCGS holder. This piece was exhibited in August 2013 at the Rosemont ANA World's Fair of Money show along with: the original document, signed by Thomas Jefferson and George Washington, appointing David Rittenhouse as first Mint director; and a silver candlestick formerly owned by Martha Washington (the owner joked that it was one "not melted down" to produce the 1792 half dismes, referring to the old bromide).
2. Specimen 67 PCGS. Virgil Brand; Selections From a Great American Collection (J.C. Morgenthau, 10/1933), lot 77; Floyd T. Starr, purchased on 10/26/1933, via James Macallister; Starr Collection (Stack's, 10/1992), lot 4; Silvano DiGenova; Steven Contursi; Baltimore Auction (Superior, 7/1993), lot 137; Larry Hanks; Great Lakes Collection; Larry Hanks in 1996; Clark Samuelson in 1997;Central States Signature (Heritage, 4/2006), lot 1860; Greensboro Collection, Part II / FUN Signature (Heritage, 1/2013), lot 5570, realized $1,410,000; Oliver Jung; Chicago Signature (Heritage, 8/2014), lot 5545, realized $1,292,500; Robert Rodriguez.
3. MS67 PCGS. Malcolm O.E. Chell-Frost; purchased by John Jay Pittman at the 1948 ANA Convention for $100); John Jay Pittman Collection (David Akers (10/1997), lot 423, realized $310,000; Patrick De Frances, acting as an agent for a private collector.
4. MS66 PCGS. CAC. Dr. J. Hewitt Judd; Auction '80 (Paramount, 8/1980), lot 592; Congressman Jimmy Hayes; Hayes Collection (Stack's, 10/1985), lot 3; Greg Roberts; Clifford Mishler Collection (1997 to 2013); Chicago ANA (Stack's Bowers, 8/2013), lot 4043, brought $793,125; John Albanese, Kevin Lipton, Ryan Carroll, and Anthony Terranova; Cardinal Collection Educational Foundation. Former plate coin in both the Guide Book and the Judd pattern reference. Dr. Judd reportedly traced the pedigree of this example back to David Rittenhouse, first director of the U.S. Mint. Certified in a first-generation old green holder.
5. MS66 PCGS. George M. Parsons Collection (Henry Chapman, 6/1914), lot 1692; Col. James W. Ellsworth (3/1923); John Work Garrett; Garrett Collection-Johns Hopkins University, Part IV (Bowers and Ruddy, 3/1981), lot 2351; Jascha Heifetz Collection (Superior, 10/1989), lot 891; Father Flanagan Boys' Home (Superior, 5/1990), lot 3550; Seymour Finkelstein Collection (Stack's, 10/1995), lot 267; Rarities Sale (Bowers and Merena, 8/2004), lot 1383; ANA Auction (Bowers and Merena, 8/2009), lot 677, realized $552,000; Steven Contursi; offered on eBay from 9/2012 to 1/2013 at $892,500; U.S. Rare Coin Investments (Tom Pilitowski) in 2015; offered on eBay in June 2015 at $729,800; offered on Rare Coin Wholesalers website from August to November 2015 at $695,000; offered again on eBay from March to May 2016 at $729,000. This coin was graded Choice AU by Bowers and Ruddy in the Garrett sale, later certified by PCGS as MS63, later still as MS66 NGC, and most recently graded MS66 by PCGS.
6. MS66 PCGS. Possibly Thomas Cleneay Collection (S,H, & H. Chapman, 12/1890), lot 1627; GNA Sale (Mid-American, 5/1987), lot 721; Chalkley-Ryer Collection (Superior, 1/1990), lot 2354; FUN Signature (Heritage, 1/2014), lot 5176, brought $528,750; ANA Signature (Heritage, 8/2015), lot 3977 (as MS65 PCGS); FUN Signature (Heritage, 1/2017), lot 5563, realized $493,500.
7. MS64 PCGS. Larry Stack's type set; Chris Napolitano; Pre-Long Beach Auction (Ira and Larry Goldberg, 1/2004), lot 1271, realized $299,000. The present coin.
8. MS64 PCGS. Certified Coin Sale (Pacific Coast, 1/1988), lot 25; ANA Signature (Heritage, 8/1995), lot 5941; Dallas Signature (Heritage, 11/2005), lot 2055; Liberty Collection / FUN Signature (Heritage, 1/2013), lot 5569, realized $528,750; Rarities Night (Stack's Bowers, 8/2023), lot 5022, realized $465,000.
9. MS64 PCGS. San Francisco Signature (Heritage, 7/2005), lot 10144; FUN Signature (Heritage, 1/2009), brought in; Larry Hanks 8/2010; D. Brent Pogue Collection (Stack's Bowers, 5/2015), lot 1001, realized $440,625.
10. MS64 PCGS. Richard B. Winsor (S.H. & H. Chapman, 12/1895), lot 733; J.M Clapp; Clapp Estate (1942); Louis E. Eliasberg, Sr.; Eliasberg Estate (Bowers and Merena, 5/1996), lot 883; Central States Signature (Heritage, 4/2015), lot 4961, realized $329,000.
11. MS64 PCGS. Bartlett Collection (Bowers and Ruddy, 11/1979), lot 2359; Greenwald-Jackson Collections (Bowers and Merena, 9/1995), lot 1177; Rarities Sale (Bowers and Merena, 1/2005), lot 327; Samuel Berngard Collection (Stack's, 7/2008), lot 4148; New York Americana Sale (Stack's, 1/2010), lot 3139; Baltimore Auction (Stack's Bowers, 3/2013), lot 2025, brought $470,000; Long Beach Signature (Heritage, 6/2015), lot 3839, realized $329,000.
12. MS64 PCGS. Winter Collection (Stack's, 1/1992), lot 477; Rarities Sale (Bowers and Merena, 1/2002), lot 345; ANA Convention Sale (Bowers and Merena, 7/2003), lot 565; Baltimore Auction (Stack's Bowers, 6/2018), lot 1221; Pre-Long Beach Sale (Goldbergs, 6/2019), lot 750, realized $444,000. Graded Gem Unc by Stack's, and AU58 PCGS when sold by Bowers and Merena in January 2002.(Registry values: P9)
From The Bruce S. Sherman Collection, Part II.

Coin Index Numbers: (NGC ID# 22ZS, PCGS# 11020, Greysheet# 240963)

View all of [The Bruce S. Sherman Collection, Part II ]

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Auction Info

2025 April 30 - May 4 CSNS US Coins Signature® Auction #1383 (go to Auction Home page)
Auction Dates
Apr-May, 2025
30th-4th Wednesday-Sunday
Bids + Registered Phone Bidders: 94
Lot Tracking Activity: N/A
Page Views: 2,323

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Numismatic Background and Census of 1802 Half Dimes: A Classic American Rarity
This 64-page book cites mintage and rarity estimates by prominent numismatists and documents the currently known 1802 half dime appearances. Each of the 32 documented examples includes an enlarged obverse/reverse photograph, the author's assigned grade, the provenance of each coin, auction prices realized or dealer fixed asking price, and a unique serial number for each specimen that will facilitate retrieval for research, cataloging, or price-information purposes. Reserve your copy of this remarkable volume for just $29.95 today.
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Sold on Apr 30, 2025 for: $432,000.00
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