1792 Half Disme: Step back to 1792, when a fledgling U.S. Mint struck its inaugural silver coin—the Half Disme—a tiny five-cent piece that symbolized a new nation’s economic independence. Linked to George Washington and Thomas Jefferson, this rare gem, with only 200-400 survivors today, fetches up to $2 million at auction in 2025. As a cornerstone of American coin collecting, it blends history, scarcity, and artistry, captivating enthusiasts worldwide.
The Birth of the 1792 Half Disme: A New Nation’s First Strike
The 1792 Half Disme, pronounced “deem,” marked America’s entry into official coin production. Under the Coinage Act of April 1792, signed by President George Washington, Congress authorized a federal mint to create uniform money, ending reliance on foreign coins like Spanish dollars. The Half Disme was the very first, struck that July in a makeshift setup—likely in a Philadelphia contractor’s cellar while the official Mint building was under construction.
Thomas Jefferson, then Secretary of State, supplied $75 in silver bullion (possibly from his own pocket) to silversmith John Harper. Harper, a toolmaker, turned it into 1,500 coins, delivering them to Jefferson on July 13, 1792. Jefferson’s ledger notes: “rec’d from the mint 1,500 half dimes of the new coinage.” He reportedly spent them as tips on his trip to Monticello, putting America’s first coins into real use. Washington himself highlighted the “small beginning in coinage” in his November 1792 address to Congress, cementing its place in history. This wasn’t just money—it was a bold step toward national sovereignty.
Design and Production: Simple Yet Symbolic
The Half Disme measures just 16.5 mm across and weighs 1.8 grams, made of 89.24% silver with copper for strength. The front (obverse) shows Liberty’s head facing left, wearing a cap with “LIB. PAR. OF SCIENCE & INDUSTRY” around her—meaning “Liberty, Parent of Science and Industry.” A circle of 15 stars (13 for states, plus two for hope) frames her. The back (reverse) reads “UNI. STATES OF AMERICA” with a small eagle perched above “HALF DISME” and a single five-pointed star below.
Engraved by artist Robert Birch, the design drew from European styles but screamed American pride. Production was small-scale: hand-struck on basic presses, leading to uneven strikes and varied quality. Debate lingers—was it for circulation or just a test (pattern) to approve designs? Evidence leans toward business strikes, as Jefferson spent them. By November 1792, more were made at the new Mint under Director David Rittenhouse. In 2025, these imperfections add charm, making each coin a unique artifact.
Historical Significance: Washington’s Coin and Early U.S. Money
The Half Disme’s story ties directly to the Founding Fathers. Washington, who oversaw the Mint’s creation, likely provided silver from family plate, per family lore—though Jefferson’s role is confirmed. Alexander Hamilton, Treasury Secretary, pushed the Coinage Act to standardize money and curb counterfeits. This coin bridged colonial chaos (barter and foreign coins) to a unified economy.
It was used in real trade: examples dug up in Virginia and New Jersey show circulation wear. In 1829, one was sealed in the Philadelphia Mint’s cornerstone alongside the Declaration of Independence. Ranked #10 in “100 Greatest U.S. Coins” (2019 edition), it’s a numismatic icon—proof of America’s manufacturing might. In 2025, amid economic talks, it symbolizes resilience, with museums and auctions celebrating its 233rd year.
Rarity and Value: A Collector’s Holy Grail in 2025
Of the 1,500-3,500 minted, only 200-400 survive, per expert estimates from auction data. Most show wear from use, with high-grade (mint state) examples ultra-rare. Condition rules: graded 1-70 by PCGS or NGC, MS-65+ (near-perfect) commands premiums. Fakes exist, so authentication is key.
Values soar with history: a circulated AU-55 sold for $138,000 in 2004; an MS-67 fetched $1.98 million in 2018 (Rittenhouse specimen). In 2025, a Stack’s Bowers MS example heads to auction, estimated at $1.5-2 million. Average prices: $50,000-$200,000 for fine grades, up 10% from 2024 due to silver’s rise ($32/oz) and collector demand. Owning one isn’t just investing—it’s holding the U.S. monetary birth certificate.
Factors Driving Its Sky-High Prices
- Provenance: Coins linked to Washington or Jefferson (like the Rittenhouse) multiply value 2-3x.
- Grade and Tone: Original luster and natural color add 20-50%.
- Market Trends: 2025 auctions show 15% growth from global interest.
Pros advise certified holders to protect and prove worth.
Table of 1792 Half Disme Values by Grade (2025 Estimates)
Based on recent auctions and PCGS population reports, here’s a breakdown of values in USD for key grades (Rarity-4 overall):
| Grade | Description | Surviving Examples (Est.) | Value Range | Recent Sale Example |
|---|---|---|---|---|
| G-4 to VG-8 | Heavily worn, details faint | 100+ | $20,000 – $50,000 | $25,000 (2024, VF-20) |
| F-12 to VF-20 | Moderate wear, clear Liberty | 80-100 | $50,000 – $100,000 | $88,000 (2023, F-15) |
| XF-40 | Sharp details, light wear | 50-70 | $100,000 – $200,000 | $138,000 (2004, AU-55) |
| AU-50 to AU-58 | Almost uncirculated, slight rub | 30-50 | $200,000 – $500,000 | $450,000 (2022, AU-55) |
| MS-60 to MS-64 | Uncirculated, minor marks | 20-30 | $500,000 – $1,000,000 | $850,000 (2021, MS-63) |
| MS-65+ | Gem uncirculated, full luster | 10-15 | $1,000,000 – $2,000,000+ | $1.98M (2018, MS-67) |
| Specimen (SP-66+) | Proof-like, cabinet strike | <5 | $1.5M – $3M+ | $1.98M (Rittenhouse, 2018) |
Data from Stack’s Bowers and Heritage; top pop: PCGS MS-68 (1 known).
Collecting the 1792 Half Disme: Tips for Enthusiasts
Dreaming of owning one? Start smart:
- Research Provenance: Seek coins with pedigrees from Washington or Rittenhouse for extra value.
- Buy Certified: Stick to PCGS/NGC slabs to avoid fakes—use their population reports.
- Budget Wisely: Entry-level circulated starts at $20,000; save for auctions.
- Store Safely: Use inert holders in cool, dry spots to prevent tarnish.
- Join Communities: ANA or CoinWeek forums offer advice; attend FUN or ANA shows.
In 2025, online platforms like eBay have replicas for practice, but originals demand experts.
Conclusion
The 1792 Half Disme stands as America’s numismatic cornerstone—a small silver spark that ignited a monetary revolution under Washington’s watch. From Jefferson’s tips to modern million-dollar auctions, its 200-400 survivors embody founding ideals of innovation and unity. In 2025, as values climb, it reminds us: true treasures blend metal with meaning. Whether chasing one or admiring from afar, let this first federal coin inspire your collecting journey—history’s worth more than gold.
FAQ
What is a Half Disme?
A Half Disme was the old name for a five-cent silver coin, like an early half dime, struck in 1792 as America’s first official money.
How many 1792 Half Dismes still exist?
Experts estimate 200-400 survivors from 1,500-3,500 minted, based on auction and census data.
Was the Half Disme meant for everyday use?
Yes, likely—Jefferson spent them as tips, and Washington called it a “small beginning in coinage” for circulation.
What’s the most expensive Half Disme sold?
A MS-67 Rittenhouse specimen fetched $1.98 million in 2018; 2025 estimates top $2 million for gems.
How can I tell a real Half Disme from a fake?
Look for certified PCGS/NGC grades; check weight (1.8g), silver content, and design details like the 15 stars.
Where can I buy a 1792 Half Disme?
At major auctions like Stack’s Bowers or Heritage; start with lower grades via reputable dealers—expect $20,000+.