Seldom Seen Selections: The Finest Known 1792 Disme

Heritage Auctions - On April 2, 1792, Congress passed legislation enabling an official United State Mint. Commonly known as the Mint Act of 1792, the legislation laid out all aspects of operation, and specified several denominations from copper Half Cents and cents, to silver Half Dismes through dollars, and gold quarter eagles to eagles. A substantial quantity of silver Half Dismes were coined just three months later, and those coins are considered the first regular issue U.S. government issues produced under authority of the 1792 Mint Act. However, they were not coined inside the Mint walls, as the facility was still under construction.



Honors for the first coins struck inside the Philadelphia Mint are awarded to the 1792 pattern cents, dismes, and quarters. The 1792 pattern coinage combined technical coinage experimentation with differing representations of Liberty. Three distinct styles of Liberty appeared. Loosely curled hair appeared on the Birch cents and the Half Dismes, tightly coifed and braided hair appeared on the Eagle-on-Globe quarters, and Flowing Hair appeared on the silver-center and fusible alloy cents, as well as the copper and silver dismes.

Invariably, each time we offer a 1792 pattern coin, someone asks how many were made. Those figures are unknown, and were likely never recorded. A survival rate is impossible to determine, so the original mintage will likely never be known. All we can say is that those varieties existing in higher numbers, Judd-1, 2, and 10, were probably struck in a large enough quantity to distribute to members of Congress. A dream discovery would be a personal journal of a member of Congress who recorded that he received a 1792 cent or disme on a certain date.

Current rosters suggest that a total of 67 patterns of 1792 exist for all 12 varieties. The count does not include the 1792 silver Half Dismes, Judd-7, that are almost certainly regular issue coins, although they were not struck inside the physical first U.S. Mint building. The patterns can be divided into five broad classifications, the silver-center and fusible alloy cents with 24 known, the Birch cents with 12 known, the unique copper Half Disme, the dismes with 24 known, and the Eagle-on-Globe quarters with six known. In an absolute sense, each category is a major rarity.

There are just two dozen 1792 dismes known today, including three in silver, 18 in copper with a reeded edge, and three in copper with a plain edge. The copper and silver dismes are the most plentiful of the 1792 pattern varieties. These pieces carry extraordinary historical interest, in addition to their obvious rarity. Our upcoming April 27 - May 2 CSNS US coins Signature Auction in Chicago features an example graded SP64 by PCGS and considered to be the finest of the 18 Judd-10 copper dismes. It has but a single peer among the other disme varieties.

Both sides of this finest-known example display even chocolate-brown color, with scattered splashes of crimson toning on the reverse. Please blue, pink, and gold overtones enhance the already exceptional eye appeal. The smooth mirrored surfaces are indicative of the impressive grade.

This coin's rarity, historical significance, and close association with David Rittenhouse and the founding of the first Mint will ensure that only the strongest bid will secure this numismatic treasure for the advanced cabinet.