Rare 1792 Half Disme Smashes Auction Record, Reaching $2.93 Million at Heritage Auctions

DALLAS, Texas — One of the most historically significant coins in American numismatics delivered a result befitting its extraordinary pedigree when a 1792 Half Disme, Judd-7, Pollock-7, R.4, MS68 PCGS crossed the block in Heritage’s Oct. 8–9 GACC U.S. Coins Signature Auction. By the time the hammer fell for the final time, this magnificent coin from the Ronald Firman Collection rode 66 bids all the way to a record $2,928,000, helping to lead the broader event to a stunning total of $10,665,743.

That coin-auction total, paired with Heritage’s concurrent Oct. 6–9 GACC U.S. Currency Signature Auction that achieved $8,727,555, raised the combined gross for the week’s marquee sales to an impressive $19,393,298. The blockbuster result for the half disme completely shattered the previous auction record for any half disme, which had stood at $1.41 million since it was set at Heritage back in 2013.

“When the finest certified example of a coin with this much historical significance comes to auction, collectors take notice,” says Todd Imhof, Heritage Auctions’ Executive Vice President. “As the only example graded MS68 by PCGS, and a coin from the first federal U.S. issue struck for circulation under the 1792 Mint Act, it earned a result worthy of its place in the top tier of American numismatics.”

The magnificent silver rarity is widely believed by historians and numismatists alike to be the finest surviving example of the first federal United States coin struck for circulation under the direct authority of the Mint Act of April 2, 1792. While traditionally classified among the experimental issues and patterns of 1792, the half disme holds a far more vital place in American history as the initial circulating coinage produced by the newly established federal Mint. President George Washington himself acknowledged the issue in his November 1792 address to Congress, referring specifically to the young nation’s “small beginning” in domestic coinage.

The record-shattering specimen offered at Heritage stands alone as the only 1792 half disme graded MS68 by PCGS, comfortably surpassing even the famous Starr-Rodriguez specimen, which is certified as Specimen-67. Its brilliant mint luster, extraordinary state of preservation, and rich natural patina—displaying a complex interplay of silver-gray, rose, amber, gold, and vivid blue toning—distinguish it sharply from all other known survivors of this landmark issue.

Another highlight of the coin auction was the 1898 Liberty Double Eagle, JD-1, R.5, PR65 Deep Cameo PCGS, which finished at $238,577. This piece is an exceptional representative of an issue featuring a proof mintage of just 75 pieces. Esteemed numismatic researcher John Dannreuther estimates that only 35 to 50 examples survive across all grades, a count that includes two held securely in the National Numismatic Collection at the Smithsonian Institution and another in the American Numismatic Society collection, leaving the number available to private collectors exceptionally small. The example auctioned features deeply mirrored fields that contrast dramatically with richly frosted design elements, producing the highly coveted Deep Cameo appearance. Its lemon-yellow surfaces exhibit the distinctive orange-peel texture associated with the absolute finest 19th-century proofs. Heritage previously offered this exact coin as part of the Steinbrenner Collection in 2019.

One of the auction’s most remarkable and talked-about results, however, stemmed from an unexpected discovery: a previously unknown 1867-S Liberty Half Eagle, MS63 PCGS, that sold for $97,600, more than quadrupling its previous auction record of $22,800. This coin is now recognized as the finest-known example of the date, exceeding the next-highest-graded specimen by two full grade points. It ranks as one of only two examples reported in Mint State, with fewer than 100 estimated to survive in all grades combined.

The story behind its discovery is nearly as compelling as the coin itself. During an estate evaluation in Buda, Texas, a green milk crate tucked away in a bedroom closet was found holding an old cigar box and two shoe boxes. Inside the cigar box was the remarkable 1867-S half eagle alongside other period coins. According to the estate’s heirs, the collection originated from family members in Columbus, Ohio, and is believed to have belonged to their great-grandfather, a Union soldier who served during the Civil War. Passed down quietly through generations, the collection remained undisturbed until its modern discovery, fundamentally rewriting the recognized Condition Census for the issue.

Matching that $97,600 price point was a 1907 Saint-Gaudens High Relief Double Eagle, Flat Rim, MS66 PCGS, an exceptional specimen of one of the most celebrated designs in American numismatic history. The coin traces its lineage directly to President Theodore Roosevelt’s passionate campaign to elevate the artistic caliber of United States coinage, a mission that led to his famous collaboration with renowned sculptor Augustus Saint-Gaudens. Because the original High Relief double eagles were notoriously difficult to manufacture—requiring three separate blows from a medal press, annealing between strikes, and roughly 12 minutes of production time per coin—the Mint eventually modified its process to create the Flat Rim variety, which achieved better detail near the rim. The auction example is a Premium Gem featuring fully struck design elements, flawless satin luster, and attractive antique-gold surfaces.

Another important gold rarity, an 1861-O Liberty Double Eagle, AU53 PCGS CAC from the Christensen Family Collection, realized $91,500. Few American coins are as inextricably linked to the American Civil War as the 1861-O double eagle, whose tumultuous production spanned three distinct governing authorities. Out of a total mintage of 17,741 pieces, historians generally attribute 5,000 to the federal government, 9,750 to the state of Louisiana, and 2,991 to the Confederate States of America. Because the entire mintage utilized a single pair of dies, identifying which specific authority struck any given survival remains a fascinating numismatic mystery.

A second example of the nation’s earliest federal silver coinage also found a new home when a 1792 Half Disme, Judd-7, Pollock-7, R.4, VG10 PCGS sold for $85,400. Unlike the pristine MS68 crown jewel that topped the event, this circulated example carries the honest wear and tear characteristic of most surviving half dismes. Somewhere between 1,500 and 2,000 were originally struck, with production famously beginning in the basement cellar of Philadelphia sawmaker John Harper before the first dedicated U.S. Mint facility was fully operational.

The Christensen Family Collection also yielded an 1851 Augustus Humbert Fifty Dollar Gold Piece, AU58 NGC, which achieved $76,250. This massive octagonal gold piece is one of the most recognizable artifacts of the California Gold Rush, produced after Augustus Humbert arrived in San Francisco in January 1851 as the newly appointed United States Assayer of Gold. The Kagin-6 variety features a reeded edge, .887 fineness, and the distinctive engine-turned reverse design crafted by engraver Albrecht Kuner. Researcher Donald Kagin estimates that approximately 75 examples of this specific variety survive today.

Equally matched at $76,250 was an 1886 Liberty Double Eagle, AU53 NGC, representing a major rarity among 19th-century American gold coinage. Just 1,000 business-strike double eagles were produced at the Philadelphia Mint that year, with zero supplementary production at San Francisco, Carson City, or New Orleans. PCGS CoinFacts estimates that a mere 40 to 60 business-strike examples survive across all grades, securing its status as one of the most elusive dates in the entire Liberty double eagle series.

Meanwhile, the GACC U.S. Currency Signature Auction featured its own share of historic milestones, led by the highest denomination of U.S. currency ever placed into public circulation. A Fr. 2231-B $10,000 1934 Federal Reserve Note PMG Choice Uncirculated 63 claimed top-lot honors for the paper money portion of the event by selling for $244,000. This extraordinary note is an elite survivor from the famous Binion Hoard, which comprised a group of 100 Series 1934 $10,000 Federal Reserve Notes. Bearing serial number B00003065A, the note boasts pristine white paper, ideal inks, and prominent embossing on its reverse displaying both serial numbers.

“High denominations always garner attention from the most serious collectors, and the $10,000 that led this auction is an extraordinary example that drew a result fitting of a note of this caliber,” says Raiden Honaker, Heritage’s Director of U.S. Currency. “The $10,000 and $5,000 Federal Reserve Notes are extraordinary pieces of American monetary history, but what makes this auction particularly exciting is the strength of the material across so many different collecting specialties. From an exceptionally rare fractional currency pair to a surviving piece of the D.B. Cooper ransom, collectors had opportunities to acquire notes with compelling histories and remarkable rarity.”

Another high-denomination treasure, a Fr. 2221-H $5,000 1934 Federal Reserve Note PMG Very Fine 30, drew a winning bid of $146,400. Originating from St. Louis and bearing serial number H00000397A, the note made its very first recorded public auction appearance, introducing a brand-new census entry and lifting the reported population for that specific Friedberg number to just nine examples. According to market trackers, only 136 $5,000 Federal Reserve Notes are recorded across both the 1928 and 1934 Series combined.

Among the most captivating lots in the currency sale was a genuine fragment of D.B. Cooper 1971 ransom money, specifically a $20 Federal Reserve Note tied to the notorious unresolved skyjacking. Realizing $134,200 and bearing serial number L32796069A, the note traces back to the November 24, 1971, hijacking of a Northwest Orient Airlines flight. Nearly nine years later, in February 1980, an eight-year-old boy named Brian Ingram discovered three deteriorated bundles of ransom money along the banks of the Columbia River in Washington State, with the FBI later confirming the recovered $5,800 matched the original $200,000 payout. Measuring roughly 4.5 inches wide by 1.5 inches tall, this recovered fragment retains an unusually substantial portion of the original paper, including both serial numbers, Andrew Jackson’s portrait, and the official seals.

Further historical highlights included a handwritten Gonzales, Texas, Dewitt’s Colony $20 note dated October 15, 1825, which sold for $79,300. Graded PMG Very Fine 30 Net, the note dates back to the era when the Mexican government actively encouraged settlement in present-day Texas through its empresario system. Green Dewitt secured a six-year contract in April 1825 to settle 400 families between the Guadalupe, San Marcos, and Lavaca rivers, making this surviving note bearing serial number 2 an exceptionally scarce piece of early Texana.

National Bank Notes also put on a strong showing, highlighted by a Portland, Oregon, $50 1902 Red Seal from The First National Bank that reached $51,240. Only four Oregon banks ever issued $50 Red Seals, culminating in a combined emission of just 3,900 notes, of which only three examples are known to survive today. Graded PMG Very Fine 25, the note made its inaugural public auction appearance, giving collectors a rare window into Pacific Northwest banking history. Another standout National Bank Note, a Pensacola, Florida, $5 1875 First Charter note from The First National Bank, realized $48,800 as the finest of only four First Charter notes reported for the entire state of Florida.

The auction also celebrated specialized holdings, notably the William S. George Collection, which featured 479 lots of fractional currency, specimens, experimentals, and courtesy autographs. A standout from this collection was a Fr. 1373a 50¢ Third Issue Justice Uncut Pair PMG Choice About Unc 58 EPQ, which brought $48,800. Certified as the highest-graded single note or pair for this Friedberg number by PMG, the pair boasts a distinguished pedigree extending back to the famous Monroe J. Friedman Collection sold in 1903, as well as subsequent ownership by F.C.C. Boyd and John J. Ford, Jr.