THE HALF DIME
The volatility in the commodities market over the past several months, easily seen in the prices of gasoline, has led to discussions on the future of the Lincoln cent and Jefferson 5-cent piece. Both of these coins in recent years have seen their metal content exceed face value, a bad omen for the future. As long ago as 2008 Congressman Frank Lucas introduced a bill for the abolition of the “nickel,” and its replacement by a coin the size of the old half dime.
Half dimes were last struck in 1873 of .900 fine silver but the proposal by Representative Lucas would have required the usual sandwich composition of copper and nickel, as is seen on present-day dimes, quarters and half dollars. The current 5-cent piece weighs 5 grams but the copper-nickel half dime would be only a little over one gram, a great savings in metal costs.
As early as 1784, under the Confederation Government, there were suggestions about striking a half dime but nothing came of the idea at the time and it was not until 1791, and the new federal government, that something more concrete would be realized.
In March 1790 Congress asked Treasury Secretary Alexander Hamilton to prepare a report on a mint and coinage for the United States. This was finished in January 1791 but little was done over the next several months except to authorize, by resolution, President George
