Stack's Catalog: "A rare prize for the advanced collector"....that leaves me out, anyone e
Goldbully
Posts: 18,107 ✭✭✭✭✭
From Stack's The 73rd Anniversary Sale.........
1792 half disme. Judd-7, Pollock-7, Logan McCloskey-1. Rarity-4. MS-61 (NGC).
This splendid Mint State example of one of America's most famous early coins boasts silver surfaces showing substantial lustre intensifying at its sharply defined peripheries. This tiny coin's strike is bold and exceptionally full, and only a trace of striking weakness can be found on the curls over Liberty's ear and the eagle's breast. This obverse identifies the bust as LIB. PAR. OF SCIENCE & INDUSTRY. Persistent numismatic legend long insisted that the features were those of First Lady Martha Washington. The reverse presents a somewhat emaciated eagle in flight, head facing left over the denomination HALF/ DISME. This spelling originated with the French translation of the pioneer work on decimals by Flemish mathematician Simon Stevin van Brugghe, (1548-1620), published as De Thiende, the Tenth. This pivotal work was translated into French as La Disme by printer Christoffel Plantijn and later brought into English by Robert Norton in his Disme: the Art of Tenths, or Decimal Arithmeticke. It is believed that the word was pronounced "deem" in 1792 and the spelling disme remained in use within the Mint for decades after it had been simplified to dime by the American public. That the half dismes were struck for circulation is regarded as self-evident today in view of the many well-circulated examples known.
The Congressional demand for $10,000 bonds from each officer of the new Mint had impeded the institution's opening. It was only possible to strike the half dismes and actual Patterns including the Birch and silver-center cents, disme and quarter, by using a coin press belonging to one-time New Jersey copper maker John Harper. Set up in Harper's saw works located very near the mint site, use of this privately owned equipment neatly side-stepped a seemingly insuperable bureaucratic obstacle. Mint Director David Rittenhouse was ultimately able to get the bonds reduced to a more reasonable figure in time to start full-scale Federal coinage in 1793.
It now appears certain that the long-held belief that President George Washington contributed his personal silver to provide bullion for half disme coinage is historically correct. The President made specific mention of the new denomination in his address of Nov. 6, 1792. After reporting the efforts already made to recruit "artists from Abroad" and at home to staff the new mint, Washington continued, "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." Secretary of State Thomas Jefferson noted in his household diary for July 13, 1792, "Received from the Mint 1,500 half dimes of the new coinage.
Proof for the Harper connection is found in a document dated April 9, 1855 which included a statement by later Treasury official J.R. McClintock, "In conversation with Mr. Adam Eckfeldt today at the mint, he informed me that the Half Dismes… were struck at the request of Gen. Washington to the extent of One Hundred Dollars which sum he deposited in Bullion or Specie for the purpose —the Mint was not at the time fully ready for going into operation—the coining machinery was in the cellar of Mr. Harper's, sawmaker at the corner of Cherry and 6th streets, at which place these pieces were struck."
The sum of $100 is used in its entirety would have represented 2,000 half dismes. Numismatists believe that possibly 200 to 300 pieces half dismes survive in all grades today. NGC has certified four in the present coin's grade with 11 finer, the highest grade being MS-68. However that may be, the present example is a coin combining the utmost historical importance, beauty, high grade that will provide that marvelous feeling that B. Max Mehl used to call "pride of ownership."
NGC Census: 4; 11 finer (MS-68 finest).
Starting bid: $120,000.00
Stack's Link
1792 half disme. Judd-7, Pollock-7, Logan McCloskey-1. Rarity-4. MS-61 (NGC).
This splendid Mint State example of one of America's most famous early coins boasts silver surfaces showing substantial lustre intensifying at its sharply defined peripheries. This tiny coin's strike is bold and exceptionally full, and only a trace of striking weakness can be found on the curls over Liberty's ear and the eagle's breast. This obverse identifies the bust as LIB. PAR. OF SCIENCE & INDUSTRY. Persistent numismatic legend long insisted that the features were those of First Lady Martha Washington. The reverse presents a somewhat emaciated eagle in flight, head facing left over the denomination HALF/ DISME. This spelling originated with the French translation of the pioneer work on decimals by Flemish mathematician Simon Stevin van Brugghe, (1548-1620), published as De Thiende, the Tenth. This pivotal work was translated into French as La Disme by printer Christoffel Plantijn and later brought into English by Robert Norton in his Disme: the Art of Tenths, or Decimal Arithmeticke. It is believed that the word was pronounced "deem" in 1792 and the spelling disme remained in use within the Mint for decades after it had been simplified to dime by the American public. That the half dismes were struck for circulation is regarded as self-evident today in view of the many well-circulated examples known.
The Congressional demand for $10,000 bonds from each officer of the new Mint had impeded the institution's opening. It was only possible to strike the half dismes and actual Patterns including the Birch and silver-center cents, disme and quarter, by using a coin press belonging to one-time New Jersey copper maker John Harper. Set up in Harper's saw works located very near the mint site, use of this privately owned equipment neatly side-stepped a seemingly insuperable bureaucratic obstacle. Mint Director David Rittenhouse was ultimately able to get the bonds reduced to a more reasonable figure in time to start full-scale Federal coinage in 1793.
It now appears certain that the long-held belief that President George Washington contributed his personal silver to provide bullion for half disme coinage is historically correct. The President made specific mention of the new denomination in his address of Nov. 6, 1792. After reporting the efforts already made to recruit "artists from Abroad" and at home to staff the new mint, Washington continued, "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." Secretary of State Thomas Jefferson noted in his household diary for July 13, 1792, "Received from the Mint 1,500 half dimes of the new coinage.
Proof for the Harper connection is found in a document dated April 9, 1855 which included a statement by later Treasury official J.R. McClintock, "In conversation with Mr. Adam Eckfeldt today at the mint, he informed me that the Half Dismes… were struck at the request of Gen. Washington to the extent of One Hundred Dollars which sum he deposited in Bullion or Specie for the purpose —the Mint was not at the time fully ready for going into operation—the coining machinery was in the cellar of Mr. Harper's, sawmaker at the corner of Cherry and 6th streets, at which place these pieces were struck."
The sum of $100 is used in its entirety would have represented 2,000 half dismes. Numismatists believe that possibly 200 to 300 pieces half dismes survive in all grades today. NGC has certified four in the present coin's grade with 11 finer, the highest grade being MS-68. However that may be, the present example is a coin combining the utmost historical importance, beauty, high grade that will provide that marvelous feeling that B. Max Mehl used to call "pride of ownership."
NGC Census: 4; 11 finer (MS-68 finest).
Starting bid: $120,000.00
Stack's Link
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Comments
Edited to say: Looks like a big 'Z' scratched on the left obverse field.
<< <i>That little flying eagle always reminds me of Groucho Marx, doing his Egyptian dance. >>
"Say the secret void and win $50!"
Found it, RWB!!!!! You are so correct!!!
<< <i>Numismatists believe that possibly 200 to 300 pieces half dismes survive in all grades today >>
How many other coins with this total population command this sort of value?
<< <i>
<< <i>Numismatists believe that possibly 200 to 300 pieces half dismes survive in all grades today >>
How many other coins with this total population command this sort of value? >>
My own completely non-scientific poll, based solely upon how many of these I have personally seen over the last two decades, would suggest there are considerably fewer extant than 200.
Liberty: Parent of Science & Industry
<< <i>
<< <i>
<< <i>Numismatists believe that possibly 200 to 300 pieces half dismes survive in all grades today >>
How many other coins with this total population command this sort of value? >>
My own completely non-scientific poll, based solely upon how many of these I have personally seen over the last two decades, would suggest there are considerably fewer extant than 200. >>
I disagree with you - I think the estimate of 200 - 300 is about right. This is slightly outside of my area, however, and I would be interested to hear from someone who knows considerably more than I do.
<< <i>wow, that's a CLEAN one. Look at how CLEAN it looks. What a CLEAN coin. >>
Shh. It gets a pass.
You don't see many raw coins of this caliber nowadays.
<< <i>That little flying eagle always reminds me of Groucho Marx, doing his Egyptian dance. >>
Damn....you got funny!
1/2 Cents
U.S. Revenue Stamps
Having said that, I think it is a decent coin... it fails the Coinkat original surfaces designation test which isn't the end of the world... not evenfor this coin... and it is a terrific piece of numismatic history
Experience the World through Numismatics...it's more than you can imagine.
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
<< <i>The catalogue description about the history of these pieces is not accurate or up to date with the newest information available. >>
It's probably a cut-and-paste from a prior catalog.
<< <i>
50-50 chance IMO. Maybe slightly higher if you slip it into an economy submission on a Friday.
<< <i>The catalogue description about the history of these pieces is not accurate or up to date with the newest information available. >>
What is the accurate, up to date information on these pieces?
Cleaned...overgraded...scratched....inaccurately described....Still pretty cool though.
Nah... NGC never ceases to amaze. The more they do this the more I steer clear of NGC holderd coins/medals/tokens.
SURE WISH PCGS would start grading Medals and Tokens..... SOON, Really SOON !!
Buying top quality Seated Dimes in Gem BU and Proof.
Buying great coins - monster eye appeal only.
The cataloguers failed to review, include, or mention any of the research found in the AJN second series, article by Joel Orosz from 2003, or any of the information found in my Henry Voigt book from last year.
It occurs when auction companies encourage catalogers to use an index of past auctions of the same (or similar) item as their research source. Copying the old description – errors and all – is fast and cheap. Consequently, they can catalog many more lots per hour than doing real research.
Key phrases in the current economic crisis and in the standard MBA program:
“Fast and cheap”
“Enhance shareholder value”
“Immediate gain”
“Analyst opinion”
Key phrases from Warren Buffet’s lexicon:
“Invest for the long term”
“Quality creates value”
“If a business does well, the stock eventually follows”
“The business schools reward difficult complex behavior more than simple behavior, but simple behavior is more effective”
“It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently”
in the October 22 sale. I'm curious as to how prices will hold up on these.
Stack's Link