The First Coin Minted By The United States Is A Rare Half-Dime That Could Be Worth A Fortune In 2025

The 1792 half disme (or half-dime)(pronounced "deem") is shrouded in mystery, rich with history, and is a true token of coin-collecting lore. Plus, this particular little proto-nickel is worth quite a lot. Firsts, in particular, tend to mean something in the coin-collecting world, with America's first-ever gold coin being worth a fortune, as well as the first gold coin minted from California Gold Rush gold. However, the first currency to hit the scene in the fledging days of both the country, and the U.S. Mint, holds a particularly special significance. 

The Coinage Act of 1792 officially established the U.S. Mint and standardized  U.S. currency. Prior to the act, all manner of foreign currency was exchanged on U.S. soil. Early U.S. leadership — like President George Washington and Coinage Act advocate, Alexander Hamilton – modeled the U.S. dollar on how citizens spent full or partial Spanish dollar coins made of milled silver. The 1792 half disme ended up being the very first coin struck, then spent, as part of the U.S. dollar. While some rare 1790s quarters are worth at least $10,000 today, these coins were minted after the 1792 half disme, which has a high-end valuation of over a million dollars, and a low-end valuation that is equally as gasp worthy.

The 1792 half disme is a small coin made of silver, and 10.8% of copper, with a diameter of 17.5 millimeters and a face value of only five cents. However, conflicting tales behind the coin's origins have battled throughout history, with some sources saying the coin was never intended for circulation at all. For almost two hundred years, prevailing numismatic knowledge held that the small coins were authorized by George Washington himself, and minted with his own silver deposits in a cellar off-site from the at-the-time new — although not yet fully constructed — U.S. Mint in Philadelphia. These early accounts were repeated for decades, with additional rumors that the 1,500 coins minted were only given to Washington's nearest and dearest as keepsakes.

However, in 1966, documents were uncovered from Thomas Jefferson. A private ledger of Jefferson's own transactions proved, per the American Numismatic Association, that Washington had intended a business strike for the coins — meaning they were meant for circulation. Jefferson himself kept records of using a handful of 1792 half dismes to tip workers on his summer travels to Monticello. His records also indicated that Washington didn't deposit the silver for the coins, but fails to note another depositor in his stead. Decades after the revelation of Jefferson's transaction records, more historical fruit was plucked from the depths of time, as researches uncovered more Jeffersonian documents that proved the coins were indeed likely minted in a cellar by a trusted coiner, rather than at an official U.S. Mint building.

The obverse, or "heads" side of the 1792 half disme features a stately side profile of Lady Liberty, hair flowing as freely as the hard-won independence her image embodies. Just under her, the year "1792" is stamped. The entire design is surrounded by the motto, "Lib. Par. of Science & Industry." This abbreviated version of "Liberty: Parent of Science and Industry" would only last until the next mint year, when it would be shortened to only "liberty." The reverse, or "tails" side of the 1792 half disme bears a small eagle spreading its wings, circled by the abbreviated "Uni. States of America," and soaring over the words "half disme" along with a small star.

While some coin collectors can spot valuable coins in their spare change, it's highly unlikely they'll find such one so historical and rare as this. Only 275 or so specimens are thought to still survive, and only a small fraction of that number is estimated to be left in mint condition. Of those that do survive, museum-quality coins occasionally sell at auction – for staggering sums. Meanwhile, models or "tribute" coins made in the same vein of the historical half disme sometimes sell for between $40 and $80 on peer-to-peer auction sites like eBay.

The Greysheet and CPG Price Guide lists a valuation of between $38,500 and $1,440,000 for authenticated and highly-graded specimens. Coin authentication and auction hub, PCGS, lists 10 PCGS-graded auctions of the 1792 half disme since 2006, with realized auction sale prices between $115,000 and $207,000.