Origins and Purpose of the 1792 Disme
In 1792, the United States urgently needed a dependable supply of small change. Day-to-day commerce still relied heavily on foreign coins, and the new federal government faced practical pressure to prove it could produce money of its own. President George Washington supported the effort, but he was cautious about symbolism. Washington objected to proposals for presidential portrait coinage, viewing it as too monarchical. The Coinage Act ultimately required a portrait emblematic of Liberty rather than an image of a sitting president.
The Coinage Act of 1792 created a decimal framework for U.S. money, including a “disme” equal to one tenth of a dollar and a “half disme” equal to half that amount. Because the Mint’s building and machinery were not yet fully ready, early coinage efforts in 1792 relied on stopgap solutions. Jefferson recorded receiving 1,500 Half Dismes on July 13, 1792, and many accounts say they were struck in or around July using the private facilities of John Harper under the auspices of early Mint personnel. Some researchers have debated aspects of the timing, location, and whether more than one striking occurred.
Alongside the Half Disme, a larger companion coin was produced: the 1792 Disme. The Disme carried a face value of 10 cents, twice that of the Half Disme. It represents an early 10-cent coin concept, using the original spelling “disme” for a tenth of a dollar. Unlike the Disme, the 1792 Half Disme survives in relatively larger numbers, with many estimates placing known examples in the low hundreds.
(Possibly the Finest Known 1792 Disme, Obverse [left], Reverse [right].)
Design, Legends, and Rarity
The most immediate differences between the two coins appear in their engraving and inscriptions. On the obverse of the 1792 Disme is a left-facing Liberty with flowing hair, surrounded by the legend ‘LIBERTY PARENT OF SCIENCE & INDUS.’ and the date 1792.
The reverse features a small eagle with wings spread, with “UNITED STATES OF AMERICA” around and “DISME” as the denomination. The Half Disme, by contrast, relies more heavily on abbreviations and explicitly states “HALF DISME” on the reverse, underscoring that it was intended as the 5-cent unit within the new decimal structure.
What separates the 1792 Disme from its smaller “sister” coin, however, is rarity and intent. The Half Disme is noted for its early date and close link to the government’s first minting efforts. Many examples appear to have entered circulation, though researchers still debate whether the issue should be classified as circulating coinage or an early experimental emission. The Disme, meanwhile, reflects the conceptual ambition of the period: a tangible test of a decimal coinage plan often associated with Thomas Jefferson’s preference for a straightforward, base-10 system that could scale cleanly from cents to dollars.
(The 1792 Disme, struck inn Copper, Obverse [left], Reverse [right].)
Collecting Significance: Availability, Survivors, and Market Attention
Survival numbers make the contrast stark. Only a few 1792 Dismes are known today. Sources commonly describe three silver specimens as currently traced, with some discussion that up to four may have survived historically. Copper Dismes are also rare, with published estimates varying by variety and reference, often cited from the mid-teens into several dozen.
In short, the Half Disme is a celebrated early U.S. coin that can still be studied through a relatively broad population of survivors, while the Disme is exceptionally scarce, preserved less as a circulating relic and more as an experimental cornerstone of America’s first national coinage.
