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Half dime

The half dime, also spelled half disme in its early years, was a with a face value of five cents issued by the from 1792 to 1873, serving as the nation's smallest regular circulating silver denomination and a foundational element of its decimal-based currency system. Authorized under the , the coin weighed 1.35 grams and measured 15.5–16.5 mm in diameter, initially composed of 89.24% silver and 10.76% copper, changing to 90% silver and 10% copper from 1837 onward to achieve a standard . It was produced in several design types, reflecting evolving artistic and technological advancements at the Mint, and totaled over 80 million pieces across its run, though circulation declined in the mid-19th century due to the introduction of cheaper copper-nickel alternatives. The origins of the half dime trace back to the establishment of the U.S. Mint in , when 1,500 prototype half dismes were struck in the cellar of a building during Mint construction, using silver possibly donated from Washington's household tableware and distributed as pieces to dignitaries rather than for general circulation. production commenced in 1794 with the Flowing Hair design by Robert Scot, featuring with flowing hair on the obverse and a right-facing on the reverse, followed by the Draped Bust type (1796–1805) that introduced a more detailed portrait by and either a small or heraldic reverse. After a gap in production from 1806 to 1828 due to low demand and silver shortages, the Capped Bust design (1829–1837) by William Kneass revived the series with a mature wearing a liberty cap and a detailed , minted exclusively at with annual outputs exceeding 1 million pieces in later years. The most prolific era came with the Seated Liberty half dime (1837–1873), designed by Christian Gobrecht under Mint Director Robert M. Patterson, depicting Liberty seated on a rock with a shield and liberty cap on a staff, evolving through subtypes such as No Stars (1837–1838), Stars (1838–1859), With Arrows (1853–1855 for weight reduction to 1.24 grams), and Legend Obverse (1860–1873) that relocated the motto to the obverse and added a cereal wreath reverse. Production expanded to branch mints in New Orleans (mintmark "O") and ("S") starting in 1838 and 1863, respectively, with total mintage reaching approximately 72 million coins, including rare proofs and varieties like the 1870-S issue. These coins circulated widely in an era of economic expansion but faced hoarding during the and , as their silver content often exceeded . The half dime's discontinuation in 1873 stemmed from the Coinage Act of that year, which demonetized smaller silver coins amid debates over and the rising popularity of the copper-nickel introduced in 1866, allowing both types to coexist briefly before the half dime was fully phased out to streamline the currency system. Today, half dimes are highly collectible, valued for their historical role in asserting U.S. monetary independence and numismatic rarity, with key dates like the 1802 overdate commanding premiums among enthusiasts.

Background and Specifications

Legislative Authorization

The Coinage Act of 1792, enacted on April 2 and signed by President George Washington, established the United States Mint as the nation's first federal monetary institution and authorized a standardized silver coinage system based on the decimal division of the dollar. Among the silver denominations specified in Section 9 of the act was the half disme, a coin valued at one-twentieth of a dollar (equivalent to five cents), required to contain 18 grains and 9/16 of a grain of pure silver (1.203 grams), with a total weight of 1.35 grams at .8924 fineness. This legislation aimed to create a uniform, decimal-based currency to replace the patchwork of foreign and colonial coins then circulating in the young republic, promoting economic stability and national sovereignty over money. Thomas Jefferson, serving as Secretary of State, played a pivotal role in shaping the act's framework, drawing from his earlier proposals in 1785 for a decimal coinage system during his time as minister to France. Jefferson advocated for the "disme" as a tenth of a dollar, borrowing the term from the French "dixième" (meaning tenth), originally pronounced "deem" in its archaic English adaptation; this pronunciation persisted into the early 19th century before evolving to the modern "dime" as spelling and usage standardized. On July 11, 1792, Jefferson deposited $75 worth of silver bullion at the nascent mint under Section 14 of the act, which allowed private citizens to supply metal for coining, facilitating the production of the first half dismes just days later. The U.S. Mint was founded in , selected for its central location and industrial capacity, with construction of its permanent buildings beginning in July 1792 but not completed until 1793. , a renowned and , was appointed the first on April 13, 1792, overseeing the initial operations from a temporary facility, likely a rented space or workshop in the city. Under Rittenhouse's direction, the half dismes were struck starting around July 13, 1792, marking the inaugural use of the federal minting authority. The status of these 1792 half dismes remains debated among numismatists, with some classifying them as experimental due to their production before the 's full establishment, while others regard them as the first business strikes intended for circulation. Jefferson's personal account book records the delivery of 1,500 specimens to him on July 13, which he subsequently distributed and spent during travels, providing evidence from contemporary mint records that they functioned as circulating rather than mere trials. This quantity exceeds typical pattern mintages and aligns with the act's intent for immediate public use.

Physical Specifications

The physical specifications of the half dime were established by the , which set the denomination at a value of 5 cents or one-twentieth of a U.S. to facilitate small transactions. The coin's standard weight was 1.35 grams (20.8 grains), with a of 15.5–16.5 mm and a reeded or plain edge depending on the type; early issues like the measured closer to 16.5 mm, while later examples standardized at 15.5 mm. From 1794 onward, including the , the composition was 89.2% silver and 10.8% , yielding a of .8924, though the early 1792 issue was produced under less formalized minting conditions prior to full standardization. The Coinage Act of 1837 adjusted the to .900 (90% silver, 10% ) and reduced the weight slightly to 1.34 grams (20.625 grains); a further weight reduction to 1.24 grams (19.2 grains) occurred in 1853 to conserve silver resources, with these changes applying to subsequent issues without altering the diameter or edge.

Early Designs (1792–1805)

1792 Half Disme

The represents the inaugural silver coinage of the , produced as a or experimental under the of the of April 2, 1792. Struck in late July or early August 1792 at a temporary facility in —specifically, in the cellar of carpenter John Harper—approximately 1,500 pieces were coined using silver likely supplied by President , possibly from his wife's household plate. These coins were hand-struck on a manual operated by employees, including engraver Henry Voigt, marking the nascent efforts of the U.S. before its official building was completed. An additional estimated 500 pieces may have been produced in , bringing the total mintage to around 2,000, though exact figures remain uncertain due to limited contemporary records. The design, attributed to engraver William Russell Birch or artist John Gregory Hancock, features a left-facing of on the obverse, with her hair bound by a fillet and , inscribed "LIB. PAR. OF SCIENCE & " around the and the date "1792" below. The reverse depicts a small with wings displayed, perched above a and olive twig, encircled by " OF AMERICA" and the "HALF DISME" at the base, separated by a . Weighing approximately 1.35 grams at .8924 fine silver purity, with a of 15-16 , the coin adhered closely to the specifications outlined in the Coinage Act, though its edges were left plain without . This transitional design served as a , differing from later issues in its artistic style and inscriptions. Historically, the half dismes played a pivotal role in demonstrating the new federal mint's capabilities, with and involved in their and distribution. Jefferson recorded exchanging $75 worth of silver (equivalent to 1,500 half dismes at ) for the coins on July 11, 1792, and he personally circulated some in markets to test public reception. President Washington referenced the production in his October 1792 address to , highlighting it as evidence of the Mint's progress. While primarily intended as test strikes or presentation pieces, a portion entered circulation, underscoring their dual function as both experimental and functional currency in the early republic. Today, the is exceedingly rare, with an estimated 200 to 250 examples surviving in various grades, many held in institutional collections. Notable specimens include the Norweb example from the prominent Norweb family collection, prized for its sharp details and historical . The stems from low original mintage, limited distribution, and the passage of time, making it a cornerstone of American numismatic history.

Flowing Hair Half Dime (1794–1795)

The Flowing Hair Half Dime represents the first regular-issue design for the denomination, authorized under the and struck at the . Designed by Robert Scot, the inaugural engraver of the , the obverse features a youthful facing left with flowing hair, encircled by the word "LIBERTY" at the top and the date below, flanked by 15 six-pointed stars—eight to the left behind her head and seven to the right in front. The reverse depicts a small with outstretched wings perched on a cloud, enclosed within an open composed of olive branches, with "UNITED STATES OF AMERICA" arched around the periphery and "HALF DISME" inscribed below the wreath. These coins adhered to the standard silver composition of 89.24% silver and 10.76% , weighing 1.35 grams and measuring approximately 16.5 millimeters in , with a reeded edge to deter clipping. Production commenced in early 1795, though coins bore both 1794 and 1795 dates, reflecting the Mint's nascent operations and use of dated dies over multiple years. The total mintage was limited to 86,425 pieces, comprising 7,765 for the 1794 date and 78,660 for 1795, all struck exclusively in using manual screw presses powered by human or horse labor. These low figures stemmed from the early Mint's operational constraints, including scarce silver bullion deposits, as the facility struggled to attract sufficient raw material amid economic uncertainties and the unproven appeal of federal coinage. By 1795, the Mint had processed initial silver deposits dating back to mid-1794, but overall output remained modest compared to later denominations. The series encompasses numerous die varieties, with four identified for 1794 and eleven for 1795, primarily differentiated by subtle differences in star positioning, date spacing, and reverse wreath details. For the 1794 issues, key distinctions include the number of berries in the olive branch beneath the eagle's wing—such as five berries in Logan-McCloskey (LM)-1 and LM-2 versus six in LM-3 and LM-4—allowing collectors to attribute specific die marriages. The 1795 varieties feature additional states like die cracks and repunched letters, though no overdate is documented; these arose from the Mint's reliance on hand-engraved dies prone to wear. Production challenges were pronounced, with inconsistent striking often resulting in weak centers or incomplete details, adjustment marks from filing overweight planchets to meet weight standards, and variable quality on the edges due to rudimentary machinery. Such issues underscored the experimental nature of the early , contributing to the coins' scarcity in higher grades today.

Draped Bust Half Dime (1796–1805)

The Draped Bust Half Dime series, minted from 1796 to 1805, featured an obverse design depicting Liberty facing right, with flowing hair bound by a ribbon and draped in classical attire, surrounded by stars symbolizing the states. Engraved by Robert Scot, the United States Mint's first chief engraver, the portrait was inspired by sketches from artist Gilbert Stuart, possibly modeled after Philadelphia socialite Ann Willing Bingham to evoke a sense of refined American elegance. The stars varied from 13 to 16 to reflect the growing number of states: 15 stars in 1796 (seven to Liberty's left and eight to her right), transitioning to 16 stars evenly divided in 1797 following Tennessee's admission, and then reduced to 13 stars (six left, seven right) from 1800 onward to represent the original colonies. All examples were struck at the Philadelphia Mint with reeded edges for anti-clipping protection, maintaining the half dime's standard specifications of 0.8924 fine silver weighing 1.35 grams and measuring approximately 15.9–16.5 mm in diameter. The series is distinguished by two reverse types, both designed by Robert Scot. The initial Small Eagle reverse, used in 1796 and 1797, showed a perched within a , above and branches, with "UNITED STATES OF AMERICA" around the border and "HALF DISME" below. This design yielded a combined mintage exceeding 54,000 coins, with 1796 at 10,230 pieces (including a rare 1796/5 overdate variety) and 1797 at 44,527 (featuring both 13- and 16-star obverses). Production halted after 1797, with no half dimes minted in 1798 or 1799 due to delays in and persistent silver shortages at the early , which prioritized larger denominations. Resuming in 1800, the Heraldic Eagle reverse introduced a more detailed motif: a larger with outstretched wings, clutching arrows and an , a shield on its breast, and a banner inscribed "," encircled by " OF AMERICA" and "HALF DISME." This updated design aligned the half dime with contemporary silver coinage like the quarter and . Mintage for this type totaled approximately 124,000 coins across 1800 (40,000), 1801 (27,760), 1802 (3,060, including the notable 1802/1 overdate), 1803 (37,850), and 1805 (15,600), with no production in owing to similar resource constraints and low demand for the small . Overall series mintage reached about 179,000, rendering many dates scarce in high grades due to circulation wear and the era's primitive striking methods.

Later Designs (1829–1873)

Capped Bust Half Dime (1829–1837)

The Half Dime series, produced from 1829 to 1837, marked the resumption of half dime coinage after a 24-year hiatus since the last issues in 1805. Chief Engraver William Kneass designed the coins, adapting elements from John Reich's earlier dime to create a more refined profile for this denomination. The obverse features Liberty facing left, her hair tucked under a secured by a headband inscribed "," with flowing tresses and a draped gown; thirteen stars surround the bust (seven to the left and six to the right), and the date appears below. The reverse depicts a heraldic with outstretched wings, a on its breast, and claws grasping arrows and an ; a banner in its beak reads "," while " OF AMERICA" and "5 C." encircle the design. These coins maintained the standard silver alloy of 89.24% silver and 10.76% copper, with a reeded edge throughout the series. Production occurred exclusively at the , with no mint marks on the coins, making this the final half dime series without branch mint issues until later designs. The total mintage reached 13,058,700 business strikes, reflecting steady demand for small change following the , during which alternative denominations had sufficiently met circulation needs. Annual outputs varied, peaking at 2,760,000 pieces in 1835 and dipping to a low of 871,000 in 1837, the final year of the type; several hundred proofs were also struck across the years for official sets. The reduced of 15.5 mm compared to prior half dimes helped conserve silver amid rising metal prices, ensuring the coins' viability as everyday currency. Several die varieties distinguish this short series, arising from hand-engraved punches and adjustments during . The issue includes types with and without a curl at the base of Liberty's hair, while 1830 features small and large date varieties differentiated by numeral size. Later years introduced overdate errors, such as the prominent 1834 with a 3 over an inverted 3, and denomination size differences in 1835, 1836, and 1837 (large or small "5 C."). These varieties, cataloged in detail by numismatists, highlight the era's manual minting processes and add collectible interest without significantly impacting overall availability.

Seated Liberty Half Dime (1837–1873)

The Seated Liberty half dime, minted from 1837 to 1873, features a design by Chief Engraver Christian Gobrecht that depicts a full-figure representation of on the obverse, marking a shift from the profile busts of prior series. is shown seated facing left on a rock, her right arm extended holding a liberty cap atop a pole, while her left hand rests on a shield inscribed with "LIBERTY"; the date appears below her feet. The reverse displays an open tied with a ribbon at the bottom, enclosing the denomination "HALF DIME," surrounded by "UNITED STATES OF AMERICA" along the rim; this wreath motif persisted throughout the series with minor modifications. All examples have reeded edges for security against clipping. The design evolved through several subtypes reflecting refinements in aesthetics and responses to legislative changes. The inaugural 1837 issues lack stars around Liberty, creating an open field on the obverse. In 1838, thirteen stars were added encircling , a configuration that continued through 1859 alongside the addition of drapery to Liberty's lap starting in 1840 for a more detailed appearance. From 1853 to 1855, arrows were placed at either side of the date to denote a weight reduction from 1.34 grams to 1.24 grams total weight at 0.900 fineness, implemented by the to align with international standards and curb melting. Beginning in 1860, the obverse stars were replaced by the legend "UNITED STATES OF AMERICA," shifting that inscription from the reverse, while the reverse wreath was enlarged without peripheral lettering. Production totaled approximately 84.5 million pieces across the , New Orleans, and Mints, with Philadelphia accounting for the vast majority as the primary facility. New Orleans issues, marked with an "O," ran from 1838 to 1860, peaking in the and to meet Southern demand, exemplified by over 2.2 million struck in 1853 alone. production began in 1856 with the "S" , yielding about 2.3 million coins overall, including the exceptionally rare 1870-S with a reported mintage of just 9 pieces, of which only one is confirmed extant. Notable varieties include doubled-die obverses from the , such as the 1843 double die obverse where doubling appears on the date and stars due to errors. The 1856-S represents the inaugural half dime, while the 1858-S features a repunched date variety with the "8" doubled from an initial misplacement. These subtypes and varieties highlight the technical challenges of mid-19th-century minting, contributing to the series' appeal among collectors.

Discontinuation and Legacy

Reasons for End of Production

The production of the half dime, a silver five-cent , began to wane with the introduction of the copper-nickel five-cent piece, known as the Shield nickel, in 1866. Industrialist , a major nickel producer, lobbied for this new to utilize his metal reserves and address the of small change during and after the , when silver coins were widely hoarded. This non-silver alternative, larger and more durable than the half dime, quickly gained public acceptance and reduced the demand for the silver version in everyday transactions. Compounding this shift, the half dime's diminutive size—measuring just 15.5 millimeters in —posed practical challenges in circulation. Its small stature made it prone to being lost, mistaken for other , or overlooked in pockets and change, while rapid wear from handling further diminished its usability. Post-Civil War economic changes exacerbated these issues, as rising silver costs and a for larger, base-metal reflected broader trends toward more robust for an expanding . These factors culminated in legislative action through the , which discontinued production of the half dime by excluding it from the list of coins the U.S. Mint was authorized to produce, effectively ending its manufacture. This measure aligned U.S. coinage with emerging international trends favoring the gold standard and limiting silver in minor denominations. The final mintages occurred in 1873 at the and Mints, with no further production thereafter. Although new half dimes ceased, existing ones remained legal tender at face value, circulating until gradually melted down for their silver content or preserved by collectors amid the transition to the nickel five-cent piece.

Numismatic Significance

The half dime holds a prominent place in American numismatics due to its key rarities, which drive intense collector interest and command premium prices at auction. The 1794 Flowing Hair half dime, with a mintage of approximately 7,756 pieces, is highly sought after as one of the earliest U.S. silver coins, with well-preserved examples in high grades fetching six-figure sums, often exceeding $300,000. The 1802 Draped Bust half dime stands as a top rarity in the series, second only to the 1870-S in overall scarcity, with an estimated survival of fewer than 40 coins across all grades and high-grade circulated examples, such as AU50, valued at over $300,000 based on recent auctions. The unique 1870-S Seated Liberty half dime, discovered in 1978 and with a reported mintage of just one verified specimen, exemplifies ultimate rarity; it realized a record $3,120,000 at Heritage Auctions in January 2023, far surpassing its 2009 sale price of $1,400,000. Notable varieties and errors further enhance the half dime's appeal among variety collectors. Overdates such as the 10/6 and 2/1, where underlying digits from prior die use are visible, add significant value, often doubling or tripling base prices for the date. Die cracks, particularly prevalent in the series due to worn dies, create distinctive raised lines on surfaces, with affected coins like certain 1796-1797 issues prized for their diagnostic markers and rarity premiums up to 50% above standard examples. In the Seated Liberty era, repunched mint marks (RPMs)—where the mint letter is doubled from die adjustment—appear on issues like 1840-O and 1858-S, commanding 20-100% premiums depending on boldness. Proof issues, introduced regularly starting in 1856 to provide high-relief presentation strikes for dignitaries and collectors, represent early U.S. milestones; low-mintage proofs from this inaugural year, such as the 1856 with stars, routinely sell for $5,000 or more in choice condition. Collectors pursue half dimes through type sets organized by major designs—Flowing Hair, , , and Seated Liberty—which allow accessible assembly of representative examples without chasing every , as common types in circulated grades start under $200. sets, however, present substantial challenges due to gaps, including no half dimes struck from 1806 to 1828 and the complete absence of an , alongside ultra-low mintages for dates like 1800 and 1802, making complete sets feasible only for advanced collectors with budgets exceeding $1 million. Professional grading by PCGS or NGC is essential for authentication and value assurance, using the Sheldon 1-70 scale; coins in MS-65 or higher grades earn substantial premiums, often 5-10 times those of MS-63 equivalents, due to preserved luster and minimal wear. In modern , the half dime's intrinsic melt value remains negligible at approximately $2 based on its 0.0387 ounces of pure silver content and November 2025 spot prices around $50 per ounce, underscoring that collector value far outweighs worth. The denomination's cultural legacy endures as a symbol of early coinage , influencing without any revival attempts since its 1873 discontinuation. Recent auctions from onward reflect robust demand and price appreciation beyond , with key dates like the 1870-S surging over 120% since 2009 and even common Seated issues in MS-65 showing 20-30% gains, driven by limited supply and growing institutional interest. As of 2025, values continue to appreciate, with no major sales exceeding prior records for these key dates.

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