The 1793 Liberty Cap Half Cent stands as a remarkable testament to early American coinage, representing not just the first half cent ever produced by the United States Mint, but also embodying the young nation’s monetary ambitions during a period of economic uncertainty. This rare coin, with its distinctive left-facing Liberty design, has become one of the most sought-after numismatic treasures for serious collectors, with values ranging from several thousand to hundreds of thousands of dollars depending on condition.
The Birth of America’s Smallest Denomination
The story of the 1793 half cent begins well before the first coin was struck. During the pre-Federal era, “coppers” were commonplace in American commerce – a catch-all term for coins of roughly halfpenny size that varied widely in weight, origin, and actual value1. These coppers fluctuated in worth depending on economic conditions and geography, sometimes valued “As 1/60 to 1/72 to 1/90 to 1/96 of a dollar; that is as 24 to 20 to 16 to 15”1. The situation became particularly chaotic during the Copper Panic of 1789, when merchants’ anxiety about lightweight coppers caused their values to plummet nearly fivefold1.
The half cent owes its official existence to the Coinage Act of April 2, 1792, which authorized America’s decimal-based monetary system46. This legislation originally established the half cent as a copper coin weighing 132 grains (8.55 grams)4. However, the rising cost of copper prompted Congress to reduce the standard weight before production began. The Act of January 14, 1793, decreased the half cent’s weight to 104 grains (6.74 grams)4.
Despite this standardized specification, a survey of surviving 1793 half cents revealed actual weights averaging 102 grains and ranging between 95 and 111 grains4. The standard diameter was established at 22mm, though this too would change in subsequent years6.
Production Challenges and Limited Mintage
The year 1793 proved challenging for the fledgling United States Mint. Bond issues with the Mint’s staff prevented the striking of silver and gold coins, leaving only cents and half cents for the Mint’s first year of operations4. The Philadelphia Mint prepared two obverse and three reverse dies for the half cent issue between April and July 17934.
The first delivery of struck half cents occurred on July 20, 1793, marking the beginning of half cent production3. The official mintage figure has long been cited as 35,334 pieces36, but numismatic researcher Eckberg disputes this number, noting that Mint Treasurer Tristram Dalton’s receipt book indicates 3,400 pieces delivered on September 18 were actually one-cent coins, not half cents4. If accurate, this would reduce the total 1793 half cent mintage to 31,934 coins4.
Production ceased abruptly on September 17, 1793, when the Mint closed due to a devastating yellow fever outbreak that claimed numerous lives, including that of engraver Joseph Wright4. This tragic event would directly influence the design change implemented for the 1794 half cent, as newly appointed engraver Robert Scot created dies with a right-facing Liberty when the Mint resumed operations on November 23, 17934.
Design and Artistic Origins
The 1793 Liberty Cap Half Cent features a distinctive design with historical inspirations. The obverse portrays Miss Liberty facing left (the only year this orientation was used), with detailed facial features and a liberty cap on a pole behind her head3. Above the portrait is the word “LIBERTY,” while the date “1793” appears below3. A circle of beads surrounds the outer edge3.
The reverse displays a wreath with leaves and berries, open at the top and tied with a bow at the bottom3. The denomination “HALF CENT” appears at the center, while “UNITED STATES OF AMERICA” and the fraction “1/200” comprise the border3. Another beaded circle frames the rim3.
While the designer remains somewhat uncertain, Walter Breen suggested Mint Director David Rittenhouse may have prepared sketches that were then engraved by Henry Voigt4. Other sources attribute the obverse design to Robert Birch and the reverse to Birch and Adam Eckfeldt3. The design was notably adapted from the famous Libertas Americana medal issued in France3.
Some 1793 half cents feature edge lettering stating “TWO HUNDRED FOR A DOLLAR,” reinforcing their value as 1/200 of a dollar (or five milles)6.
Varieties and Distinctive Characteristics
Numismatists have identified four major varieties of the 1793 Liberty Cap Half Cent, cataloged as Cohen-1 through Cohen-4 (often abbreviated as C-1 through C-4) or Whitman-1 through Whitman-4 (W-1 through W-4):
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C-1 (W-1): Features the L of LIBERTY positioned completely over Liberty’s forehead2. The reverse shows 15 leaves on the left branch and 16 leaves on the right branch2. This variety is considered by some to be the scarcest of the four varieties, with perhaps only 250-300 pieces available in all grades2.
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C-2 (W-2): Utilizes the same obverse die as C-1, but exhibits 15 leaves on each of the reverse branches2. Often found with misaligned dies2. The cap is positioned far from the Y of LIBERTY4. Features a large center dot between HALF and CENT4. The numeral 2 in the denominator nearly touches the ribbon and is close to the fraction bar4. Approximately 275 to 350 examples are thought to exist in all grades2.
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C-3 (W-3): Introduces a new obverse with the L of LIBERTY partly over her hairline2. Uses the same 15-leaves reverse die as C-22. Similar in scarcity to C-2 with perhaps 275 to 350 examples available in all grades2.
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C-4 (W-4): Employs the same obverse as C-3 but pairs it with a new reverse die having 13 leaves on the left branch and 14 on the right2. This is the most frequently encountered variety of the date, though similarly scarce with approximately 275 to 350 surviving pieces2.
Many of these varieties exhibit die rust on both obverse and reverse, a characteristic feature of these early issues4.
Rarity and Survival Rate
Despite a mintage of over 30,000 pieces, very few 1793 half cents have survived to the present day. Current estimates suggest only about 250-325 examples exist across all varieties and grades34. Most survivors show extensive wear, with Fair, Good, and Very Good examples representing the majority3. Fine pieces are rare, Very Fine coins rarer still, and Extremely Fine or About Uncirculated examples are seldom encountered3.
The survival rate for Mint State examples is extraordinarily low, with numismatists estimating only 20 to 25 or fewer exist in uncirculated condition4. This extreme rarity makes the 1793 half cent one of the most sought-after issues in American numismatics, classified as a “key issue” within the series3.
Many examples of 1793 half cents in grades from Fair through Fine show the words “HALF CENT” on the reverse weakly struck, a characteristic to be aware of when examining these historic pieces3.
Current Market Values
The value of a 1793 Liberty Cap Half Cent depends heavily on its condition, but even the most heavily worn examples command significant prices. Current market valuations approximate:
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Worst (heavily damaged): $1,0002
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Heavy Circulation: $2,5002
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Average Circulated: $8,0002
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Lightly Circulated: $15,0002
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Uncirculated: $50,000+2
Exceptional examples can realize substantially higher prices at auction. One particularly notable specimen sold for $380,0002, demonstrating the extraordinary premium commanded by high-grade examples of this historic issue.
The Half Dime: America’s Smallest Silver Denomination
Though separate from the half cent, the half dime represents an interesting parallel denomination authorized by the same Mint Act of April 2, 17925. As the smallest silver denomination, the half dime has its own unique history. While the half cent’s production began in summer 1793, the half dime (initially spelled “half disme”) actually preceded it, with 1,500 pieces struck in July 1792 at John Harper’s premises where equipment for the new Mint was being stored5.
The Philadelphia Mint began operations in autumn 1792, producing pattern coins, but no silver coins were struck there until autumn 17945. The first official Mint-struck half dimes (dated 1794 and 1795) featured the Flowing Hair design, with Miss Liberty’s tresses streaming behind her head5. This was followed by the Draped Bust design in 1796 and 1797, said to be created by artist Gilbert Stuart5.
Half dime production was suspended after 1797, resuming only in 1800 with the Draped Bust obverse paired with a new Heraldic Eagle reverse5.
Conclusion: A Numismatic Legacy
The 1793 Liberty Cap Half Cent remains one of America’s most historically significant and valuable early copper coins. Its brief production period, distinctive design, and extreme rarity have cemented its status as a true numismatic treasure. With only 250-325 examples known to exist across all grades, each surviving specimen provides a tangible connection to the earliest days of the United States Mint and the economic challenges faced by the young nation.
For serious collectors of early American coinage, acquiring any 1793 half cent represents a significant achievement, with the most desirable examples potentially commanding prices approaching half a million dollars. Beyond its monetary value, however, this coin stands as a physical artifact of American monetary history – the first of its denomination and a reminder of the nation’s journey toward establishing a stable, standardized currency system.
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