Can you imagine unearthing an old coin–one that appears to be in average condition–and finding out that it is worth almost $2,000? Needless to say, most collectors would love to make this type of discovery. You too can find coins of this quality if you take a special interest in numismatics and coin collecting.
Today, several U.S. coins are considered rare and valuable. So, if you’re seeking a hobby that is both interesting and potentially lucrative, you’ll no doubt embrace coin collecting as a pastime. Reviewing coins from early U.S. historical periods can lead towards some really great rare finds.
Why the 1794 Flowing Hair Half Dime is So Popular
The flowing hair half dime, although a small denomination, can be astoundingly valuable today. Numismatists and graders estimate the coin, struck in 1794, to carry a value in average condition of almost $2,000. Moreover, the half dimes can range in value from around $22,000 to almost $40,000 or more in mint uncirculated condition.
That is why experienced coin collectors covet this coin. Moreover, the other dated coin in this grouping is also valued at eye-popping prices. For instance, 1795 dated flowing hair half dimes are worth just over $1,850 in average condition and may range from around $15,900 to approximately $24,000 or higher in mint uncirculated condition.
Therefore the very small coin is one coin you cannot overlook when it comes to collecting U.S. historical coinage. The flowing hair coin is notable too because it was one of the initial coins that the U.S. Mint issued. A creation of Robert Scot, the silver coin, valued at 5 cents when it was introduced, was only issued for 2 years. The US Mint produced flowing hair half-dimes from 1794 to 1795 in response to the Coinage Act of 1792.
Coin investors find the 1794 flowing hair coin an intriguing piece to own because, as noted, it’s both rare and valuable. In fact, one of the 1794 coins was sold for the jaw-dropping selling price of $10 million in 2013.Thomas Jefferson, along with Robert Morris and Alexander Hamilton, implemented a decimal system of coins in the US that led to the making of the flowing hair half dimes. The introduction of the coins represented one of the final acts of independence the US made in breaking free from English rule.
The first half dimes, which were struck in 1792, were produced before the US Mint at Philadelphia was built. However, US Mint employees still oversaw the process. Some historians even note that Martha Washington contributed some of her silverware in the making of the coinage.
While the coins struck in 1792 were called half “dismes” the coins issued from 1794 to 1795 were referred to as “dimes.”
The Coin’s Engravings
In Scot’s version of the 1794 and 1795 coins, Liberty’s head and flowing hair are directed to the right. Fifteen stars circle Liberty with the word “Liberty” at the top of the coin and the date appearing at the bottom. The reverse side shows the U.S. eagle and an olive branch with the words “United States of America.”
Flowing hair coins do not indicate a value on either their obverse (front) or reverse (back) sides. In fact, the face value for the half dime did not appear until the making of the capped bust coin in 1829.
A Rare Coinage
All 7,756 of the 1794 flowing half dimes are rare in all grades. Mint state is extremely rare, although you may find some select uncirculated half dimes that were discovered in an 1880 collection of the pieces.
In comparison to the half dimes produced in 1794, 1795 half dimes are found more easily. The US Mint struck 78,600 coins. Therefore, you can find a much larger variety of these coins in mint state to add to your collection. Half-dime proofs are not known to exist.
On most coins, you’ll see marks – scratches made before engraving to adjust the coin’s weight. Numismatic graders do not consider the marks a deterrent to the coin’s quality and value.
Find Out More about 1794 Collector Coins – Add Them to Your Coin Collection
Learn more about 1794 flowing hair half dimes today. This rare collector coin is one coin you’ll love adding to your collection.