Odd Denominations of U.S. Currency | ANA Coin Press Blog

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Odd Denominations of U.S. Currency

The American monetary system has been evolving for more than two centuries, with some matter to twists and turns along the way. Did you know that in addition to the familiar penny and nickel, at one time or another five extra coins circulated with a value of five cents or less ? Or that for a unretentive meter in the nineteenth hundred, Americans had the opportunity to use a twenty-cent objet d’art in summation to a twenty-five-cent piece ? such disused pieces are unfamiliar oddities today, but they were important and interest aspects of 19th-century coinage.
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½ ¢

Our smallest denomination was the half penny, initially struck in 1793. Though a half penny seems to be a fiddling sum, when it was introduced it had the purchasing power of the modern dime bag. It was besides utilitarian for transactions involving Spanish-American coins valued at 12½ cents, which circulated in the United States until the 1850s. however, the large coin—almost the size of today ’ randomness quarter—was unpopular, and it was issued sporadically and in small quantities. The Coinage Act of 1857, which replaced the 1-cent piece with a smaller version, marked the half penny ’ s official end.

Reading: Odd Denominations of U.S. Currency | ANA Coin Press Blog

2 cent us coin

soon after the start of the Civil War, ostentation and roll up caused small change to disappear from circulation. To facilitate coin production, the Coinage Act of 1864 authorized the issue of bronze one-cent and 2-cent pieces. Having both coins may seem excess, but in the context of a coin dearth, a 2-cent piece would ease the burden on the penny both in mint and in commerce .
The 2-cent piece is noteworthy because it was the foremost U.S. coin to carry the motto IN GOD WE TRUST, now introduce on all denominations. Both bronze coins were immediately popular, but as the monetary chaos subsided, the 2-cent piece became disused. Its mintage declined every year until its death in 1873.

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3¢

The 3-cent piece might seem to be the ultimate odd denomination, but it served an important practical determination when it was introduced in 1851. The postage rate had just been lowered to 3 cents, and the minor, silver coin was more commodious than three bombastic cents. An economic invention, it was the beginning american precious-metal coin with a alloy value lower than its face value. This resulted in large early on mintages, but the coin disappeared from circulation during the Civil War and was last strike in 1873. Its successor, the copper-nickel 3-cent nibble, debuted in 1865. It, excessively, was struck lone meagerly after its first few years, as the Civil War mint deficit started to subside, and was discontinued in 1889.

Half-dime

From today ’ randomness perspective, the silver half-dime is an odd denomination, or at least an odd form for the 5-cent appellation. But not only was it one of the coins authorized by the Mint Act of 1792, it was in fact was the U.S. Mint ’ s very first offspring, ordered by George Washington himself, and with a significant assign of its humble mintage distributed by none other than Thomas Jefferson. After this auspicious debut the denomination ’ randomness coinage waxed and waned over the ensuing decades, but after the chaos of the Civil War, the half-dime never very recovered. Its successor, today ’ s copper-nickel 5-cent piece, was introduced in 1866 ; the silver half-dime was last coined in 1873. half dime obverse half dime reverse

20¢

The shortest-lived odd denomination was the 20-cent objet d’art, introduced in 1875. Taking a cosmopolitan view of coinage, 20 cents is not an odd appellation at all – in fact, most countries have 20-cent equivalents rather than 25-cent equivalents. And this is not a perfect comparison, but, thinking about currentness quite than coins, it ’ s the $ 20 bill that seems natural, and a $ 25 charge would seem “ odd. ” But when the American monetary system was founded, the binary divisions of the spanish colonial 8-Reales mint carried the day, and the quarter became a staple of american neologism .
The 20-cent nibble barely couldn ’ triiodothyronine compete, and ended up with the unfortunate differentiation of being our country ’ second shortest-lived appellation. When it was introduced, minor coins like cents and nickels broadly did not circulate in the western United States, and the 20-cent piece was intended to facilitate accurate change-making. But the mint ’ second similarity in size and design to the quarter caused considerable confusion, and production for circulation ceased after lone two years .
All of these odd denominations still are legal tender, though of course you won ’ deoxythymidine monophosphate find them in circulation. The twentieth hundred about had some odd denominations of its own, with several possibilities – including one odder than any previous appellation – that attracted some attention but never made it past the drawing board.

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20 cent us coin obverse gray bg 20 cent us coin reverse gray bg

1/10¢

The Coinage Act of 1792 established “ milles or thousandths ” as units of account, but the United States Mint never struck a 110¢ appellation. There was never any serious proposal for one, though the terminology has persisted in “ millage ” rates for property taxes. The bantam units took a tangible kind with sales tax tokens, issued in singles and multiples of 110¢ by some states in the 1930s and 1940s, when sales taxes were newly and fractions of a cent were worth chase .

2¢, 3¢

These nineteenth hundred “ curious denominations ” were, believe it or not, considered for revival in the twentieth century. At the begin of World War Two, consideration was given to a silver half-dime or 3-cent nibble as a ersatz for the nickel five-cent while. Designs for a new coin ( featuring Benjamin Franklin, by and by to appear on the half-dollar ) were approved, but the composition of the 5¢ piece was changed alternatively to a wartime composition of copper-silver-manganese ( i.e., a “ nickel ” without any nickel ) from 1942-1945 .
The possible reappearance of the 2¢ patch was a consequence of the penny deficit of the 1970s. headman Engraver Frank Gasparro created drawings, but the visualize went no far. 3 cent obverse gray bg 3 cent reverse gray bg

¢

It ’ s slightly surprising that the United States has never had a 2½¢ coin. In the nineteenth century it would have been utilitarian as a bridge between the spanish colonial 1 real coin ( peer to 18of a dollar, or 12½cents ) and the new nation ’ s decimal fraction neologism. And in the twentieth hundred, a 2½¢ objet d’art would have been utilitarian for multiple price, for example, 2 for 15¢ .
The Mint Director ’ s report for 1916 suggested a copper-nickel 2½¢ coin, and hearings were held in 1921 for a 2½¢ coin honoring Theodore Roosevelt. Despite these promise starts, and the potential utility of the denomination, the quad between 2¢ and 3¢ remained empty.

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¢

This rightfully leftover appellation would have been the oddest of all. The theme originated with one of the most american of institutions, Coca-Cola. In the 1950s, the monetary value of a bottle of Coke was the lapp as it had been for more than sixty years : 5 cents. This caused a riddle : a price increase was desirable, but the company wanted to retain its single-coin vending machines. thus, in 1953, the President of Coca-Cola, Robert Woodruff, suggested to President Eisenhower that the Treasury should mint a 7½ penny coin. The proposal never advanced – but the price of a Coke did .
These “ non-denominations ” never made it into circulation, but, as always, it ’ mho interesting to think about “ what might have been. ” Mitch Sanders | January 2019

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