Before the invention of the nickel, the half dime was a lovely little coin that has now worked its way into some pretty impressive collections over the last hundred years. With a limited production history and few variations, a well minted half dime is a collector’s dream.
Generally holding the same appearance and designs as larger United States silver coins, the half dime is immediately distinguishable by its small stature. Originally 20.8 grains and .8924 fineness, the half dime is one of the smallest U.S. silver coins ever to be minted. They appear to be half of a dime, and so the term for these 5 cent denominates was coined – no pun intended.
The half dime is a unique collectible in that some numismatists consider it to be the first coin minted under the United States Coinage Act of 1792. The act officially minted currency as legal tender and implemented the decimal system for U.S. currency. Others argue that it is no more than a pattern coin for testing a system in works.
With the authorization of production in July of 1792, a test piece known as the disme was in circulation the year before the first United States Mint actually opened for business. Because the facilities were not yet made available, the first half dismes were struck in local craftsman, John Harper’s cellar with the oversight of official mint personnel. Taking advantage of the limited quantity of available silver, it is rumored that President Washington donated his own household silverware! In his fourth annual address on November 6, 1792, he stated: “There has been a small beginning in the coinage of half dimes: the want of small coins in circulation calling the first attention to them.” The half disme would forbear a long-standing history of U.S. coinage as a pattern piece for the half dime. In 1795, the first official half dime was struck, though some were mint-marked 1794. From then on, the coins were produced with great expedition and haste.
Over the course of eighty-one years thousands of half dimes were produced. Most have been heavily circulated. In 2006, a single PCGS MS67 half dime sold at auction for $1,322,500. Their value is largely attributed to their historical significance and scarcity.
Various developmental designs of the half dime include the Early Half Dime Flowing Hair Pattern (1792), the Draped Bust Half Dime (1996-1797), the Capped Bust Half Dime (1829-1837) and the Seated Liberty Half Dime (1837-1873). You’ll notice that none of these specimens portray images of presidents, as George Washington insisted the rejection of monarchical imagery, opting for visions of liberty.
As a tangible token from the beginnings of America, it’s no wonder the half dime is so highly valued. Though your chances of finding one of these by luck are next to none, you can find them in exchange between passionate collectors. The Stamp & Coin place is home to the world’s finest assembled Seated Liberty 1858-1873 Proof Half Dime collection. You can view some of our half dimes for sale on ebay.