The Half Cent was the smallest denomination of United States coin ever minted, authorized by the Coinage Act of 1792.
Here’s some more information about the Half Cent:
- Production: The US Mint produced Half Cents from 1793 to 1857 at the Philadelphia Mint. There were some interruptions in production during this period.
- Value & Purchasing Power: It was valued at 0.5 cents or 0.005 US dollars, equal to 1/200th of a dollar. In terms of purchasing power in 2024, it would be equivalent to about 12¢ to 17¢.
- Composition and Size: The coin was made of 100% copper. It was slightly smaller than a modern US quarter, with diameters varying slightly over its production period. Early Half Cents weighed between 5 and 7 grams, depending on the variety.
- Designs: Five different designs were used throughout its minting history:
– Liberty Cap, Facing Left (1793)
– Liberty Cap, Facing Right (1794-1797)
– Draped Bust (1800-1808)
– Classic Head (1809-1836)
– Braided Hair (1840-1857)
- Edge Variations: The edge of the coin could be lettered (1793, 1797), plain (1794-1857), or gripped (1797).
- Discontinuation: The Coinage Act of February 21, 1857, discontinued the Half Cent, and also the similar Large Cent. Its use in commerce declined due to rising copper costs and the increasing value of other denominations due to inflation.
- Collectability: Half Cents are sought after by collectors, with their value depending on condition, rarity, and variety. Some rare Half Cents can be worth tens of thousands of dollars, like a 1796 Liberty Cap Half Cent which sold for $270,000.
In essence, the Half Cent was a copper coin that played a significant role in early American commerce but was eventually phased out as the economy evolved.
Is a half penny coin worth anything?
Thanks for asking. Even some of the most recent United Kingdom decimal coins are sought-after by numismatics or coin collectors, and can now sell for around £100. More historical Halfpenny coins have sold for well over £300. Despite being a relatively commonly circulating coin, older or unique Halfpennies can still be very valuable.
Why was the half cent discontinued?
This was partly due to the rise in the cost of copper. In 1857, Congress discontinued the unpopular half cent and made the cent smaller to cut back on the amount of copper needed. Coinage of silver and gold coins started in 1794 and 1795.