Finest-Known 1792 Half Disme Leads Heritage Auction Packed With U.S. Coin Rarities

One of the most important early American coins is heading to auction in a grade no other example has achieved. A 1792 half disme graded PCGS MS68 will headline Heritage Auctions’ October 8-9 GACC U.S. Coins Signature Auction, leading a lineup that also includes an 1870-S Seated Liberty Dollar, a proof 1898 Liberty Double Eagle and a newly discovered 1867-S Half Eagle believed to be the finest known.

The 1792 half disme comes from the Ronald Firman Collection and is the only example graded MS68 by PCGS. Heritage describes it as the finest known example of a coin widely regarded as the first federal U.S. coin struck for circulation under authority of the Mint Act of April 2, 1792.

“This is a remarkable trophy for the most serious of collectors, the only example of this remarkable coin to earn the MS68 grade from PCGS,” says Todd Imhof, Executive Vice President at Heritage Auctions. “Its exceptional grade is only magnified by its numismatic significance, as the first federal U.S. coins struck for circulation under the authority of the Mint Act of April 2, 1792. This incredible coin richly deserves its spot as one of the most outstanding lots among the numerous fine selections in this GACC Signature auction.”

Only about 1,500 to 2,000 half dismes are believed to have been struck in 1792, and many were heavily worn through circulation. Heritage will actually offer two examples in the auction, with a second piece graded PCGS VG10 also crossing the block.

The auction’s other major early-American rarity is an 1870-S Seated Liberty Dollar graded PCGS Genuine, VF Details. The coin is one of only nine known examples in private hands, according to Heritage, and carries an unusual history because no 1870-S silver dollars were officially reported in San Francisco Mint records. Their production is associated with the laying of the cornerstone for the new San Francisco Mint, where a time capsule was supposed to contain a complete set of S-mint coins from that year. The example offered in October first surfaced at auction in 1926 and is known as the F.C.C. Boyd specimen. Heritage says this will be the first time it has offered that particular coin.

Gold coins make up another significant part of the sale. An 1898 Liberty Double Eagle graded PCGS PR65 Deep Cameo is one of only 75 proof examples originally struck. Numismatic researcher John Dannreuther estimates that just 35 to 50 survive today, with two held by the Smithsonian Institution’s National Numismatic Collection and another in the American Numismatic Society collection.

Then there is an 1867-S Half Eagle with a discovery story that sounds almost too good to be true. The PCGS MS63 coin was found while an old estate in Buda, Texas, was being evaluated. It had been sitting inside a cigar box tucked away in the back of a closet. Heritage says the newly discovered coin is now the finest known 1867-S Half Eagle by two full grade points. Fewer than 100 examples are believed to survive in all grades, and only one other Mint State example has been reported. According to the family, the coins in the estate came from relatives in Columbus, Ohio, and may have originally belonged to their great-grandfather, who served as a Union soldier during the Civil War.

Territorial and early U.S. gold will also be represented by an 1851 Augustus Humbert $50 gold piece graded NGC AU58. The coin comes from the Christensen Family Collection, a 99-lot group featuring early gold, Liberty Head gold, Territorial gold and large cents. Heritage estimates that only about 75 examples of the K-6 Humbert variety survive, including roughly 10 in Mint State.

Another Christensen coin is an 1804 Capped Bust Right Half Eagle graded PCGS MS63 with CAC approval. The BD-7 variety features dramatic overpunching in the date, and Heritage estimates that between 100 and 150 survive in all grades.

Among the later U.S. issues is a 1918/7-S Standing Liberty Quarter graded NGC MS64 Full Head, one of 55 lots from the West Texas Collection. The overdate is already one of the key varieties in the Standing Liberty quarter series, but Full Head examples are particularly difficult. Heritage says NGC and PCGS have certified only 54 Full Head examples across all grades, with that total potentially including resubmissions.

Large cents round out some of the auction’s notable highlights. A 1794 S-21 Head of 1794 Cent graded PCGS MS64 Brown is described by Heritage as the second-finest known example of the variety and has passed through just 10 collections over the past 150 years. A 1797 Reverse of 1797 cent graded PCGS MS66 Brown is one of only six 1797 cents of any variety certified MS66 by PCGS and one of only two graded MS66 Brown.

Heritage’s GACC U.S. Coins Signature Auction will take place October 8-9.