1794

The 1794 half dollar is the first coin of its denomination produced by the United States Mint, struck under Director David Rittenhouse during the final weeks of that year on hand-operated screw presses inside the Philadelphia facility. Robert Scot's obverse pairs a flowing-hair Liberty with a small eagle reverse, both rendered to the silver standard set by the Mint Act of April 2, 1792: 13.48 grams at 89.24 percent silver. Mint records report 23,464 pieces, delivered in two batches: an initial 5,300 in late 1794 and the balance, roughly 18,164 pieces still dated 1794, on February 4, 1795. The full mintage entered commerce, so modern scarcity reflects 230 years of normal attrition rather than any Mint-level rejection of the issue.

Authentication starts with weight. A genuine 1794 hits 13.48 grams (208 grains); a meaningful deviation is reason to walk away. The edge must read FIFTY CENTS OR HALF A DOLLAR in correctly spaced incuse letters with ornamental devices between phrases. Two counterfeit categories recur. Cast fakes show grainy surfaces and faint mold seams along the edge, both visible at ten-power magnification. Altered-date fakes typically begin life as a more common 1795 half with the second digit retooled; date-digit shape and spacing against documented Overton plates exposes the work. Overton's "Early Half Dollar Die Varieties of the United States 1794-1836" catalogs the 1794 across a handful of die marriages headed by O-101, the combination that accounts for nearly all surviving examples and every recorded Mint State piece. At any collector grade, third-party grading (TPG) through PCGS or NGC is not optional; raw examples at this level invite uncertainty no buyer should accept.

Survival across the entire population sits at roughly 800 coins in all grades, with Mint State pieces in the low double digits. That places the 1794 in institutional territory: a Good or Very Good example occupies the entry tier in low five figures, while problem-free Extremely Fine and About Uncirculated coins move into the mid five figures and up. Mint State specimens are the province of named-pedigree collections and major auction events, with the finest known examples crossing the six-figure threshold by a wide margin. As the first United States half dollar and a foundational entry in any silver type set, the coin draws demand from type collectors, early-American specialists, and pedigree buyers in equal measure. For context on the wider design and its second-year continuation, see the Flowing Hair Half Dollar series history.