2017-03-17 Fri

Spink is organising an auction on 4th and 5th April in New York where it’s offering a 1792 Half Disme. The obverse features a representation of Liberty, the inscription "LIB PAR OF SCIENCE & INDUSTRY" meaning Liberty, Parent of Science and Industry. The reverse features an eagle and the inscription "HALF DISME'".

In 1792, Thomas Jefferson told Washington about foreign dignitaries who presented him with sets of coins representing their countries. They had nothing to give in return. Washington knew that Congress had already authorised coins but the process was being delayed as the Mint was under construction and was not ready for striking coins. Coins were asked to be struck in the basement but here was no silver in the U.S. Treasury. George and Martha Washington decided to give their personal silverware to the Treasury. Very soon the first United States coins were minted for visiting diplomats. There are reports that Thomas Jefferson got 1,500 of these coins made of $100 in bullion that was deposited by George Washington into the Treasury.

The 1792 Half Disme shows that the US wanted to always use a decimal system. To simplify things, a dollar was made equivalent to hundred cents. Many of them had a wear which means that they were also in circulation.

The offered example is fresh to the market and recently certified with a bold strike and original surfaces. It has a 2mm hole at the top and a similar example was sold for $38,525 in 2013.