1792 half disme. Judd-7, Pollock-7. Rarity-4. AU-55 (PCGS).

Although the 1792 half disme has been listed for a long time as a pattern, including in the Guide Book of United States Coins, it is hardly such. Indeed, George Washington in his fourth annual message to the House of Representatives, November 6, 1792, in Philadelphia (then the seat of the federal government) noted in part:
 

 
In execution of the authority given by the legislature, measures have been taken for engaging some artists from abroad to aid in the establishment of our mint. Others have been employed at home, provisions have been made for the requisite buildings, and they are now being put in the proper condition for the purposes of the establishment. There has been a small beginning in the coinage of half-dismes, the want of small coins in circulation calling the first attention to them.
 

 
Under the authority of the United States these pieces were made for circulation. End of subject, it would seem. The utilitarian nature of the pieces is further demonstrated by the fact that with just a handful of exceptions, pieces in existence today show wear, often extensive. Indeed, the piece offered here is remarkable for having only slight wear.
 
In later years, much folklore arose concerning this piece, the discussion of which is beyond the scope of the present auction offering, but suffice it to say that the new book on type coins being prepared by the writer for Whitman Publishing Company will delve into the subject in detail. In brief, it seems to be the case that in actuality pieces were struck in the cellar of John Harper, a local sawmaker, as the Mint was not ready. Accordingly, this is not a Philadelphia Mint issue but as Mint personnel, including Adam Eckfeldt, were on hand, and it was done under federal auspices, there is every good reason to include it in a type set. Thomas Jefferson, as Secretary of State, took receipt of 1,500 pieces on July 13, 1792, and this initial minting triumph was announced by Washington in the address cited above. The legend part of the story has it that George Washington personally donated tableware to be melted for the silver, and in return received these pieces to give as gifts to VIPs. Another bit of folklore is that the image is of Martha Washington, which does not square at all with reality (for example, a contemporary portrait of Martha Washington, an image of which is in our research file, looks nothing at all like the portrait on the half disme).
 
Returning to the present offering, the obverse is a pleasing silver gray, with the features quite well struck, save for some slight lightness above the ear, this being typical. What seem to be small lines before the ear are in actuality raised in the die. On the reverse the eagle, seemingly flying in an awkward position, is fairly well detailed save for the very highest areas, the general appearance being typical of other examples, including those in higher grades. The surfaces are silvery with gold and a few hints of blue, the entire arrangement being very pleasing to the eye. The centering is a trifle off, to 7:30 or so, not at all unusual for this issue. Few identifying marks are noted, which is unusual as many specimens show contact points ranging from abrasions to holes—only a thin scratch below the left side of the first A in AMERICA is noted for accuracy.
 
A classic issue and one of the highlights of the Jung Collection. While 1792 half dismes have been popular among collectors since time immemorial, demand has only increased in recent years, as true for low-grade pieces as it is for this coin of world-class quality.
 

Design: Obverse with portrait of Miss Liberty, model or inspiration not known, but similar in general features to the lady depicted on the famous Birch patterns of 1792. Surrounding is the inscription LIB.PAR. OF SCIENCE AND INDUSTRY, a saying which certainly is relevant today, under a government of the people and by the people, science and industry can indeed flourish. Dentils are around the border. On the reverse an eagle is seen flying upward to the left. The abbreviated inscription UNI STATES OF AMERICA surrounds. A curious feature, an abbreviation similar in concept to the AMERI. cent. Below is the denomination in twop lines, HALF/DISME, five-pointed star below.
 
Designer: Unknown, but probably Birch, first name not verified, but possibly Robert Birch, although William Birch has been suggested by Walter Breen and others. There were multiple Birches active as artists and engravers (primarily on metal plates) in England and Philadelphia at the time. Certain patterns are signed BIRCH, and as the features of the present half disme are similar, it seems fair to ascribe them to this individual.
 
Comments: As noted, these pieces were struck for circulation. The original Coinage Act of April 2, 1792, specified the silver half disme and disme which may have been pronounced "deem" at the time, or perhaps "dime" as today. In any event, the S was soon dropped in popular usage, although we have seen it in Treasury reports as late as the 1820s.
 

 
PCGS Population: 6; 13 finer (MS-66 finest).

From the James Swan U.S. Type Collection.