We are all familiar with the dime or ten cent piece but what is a half dime? The half dime, or half disme, was a silver coin, valued at five cents, formerly minted in the United States beginning in 1792. Some numismatists consider the denomination to be the first business strike coin minted by the United States Mint under the Coinage Act of 1792. It was used for everyday transactions until it was discontinued in 1873, replaced by the nickel.