View Full Version : Pennies and Cents
chowder
08-14-2006, 06:02 AM
Here in the UK our currency is pounds and pence, we don't call our pennies cents.
USA currency is dollars and cents so why do you call your cents pennies :confused:
aldiboronti
08-14-2006, 06:04 AM
I thought the Americans did call their cents pennies sometimes? (The song, Pennies From Heaven,k etc).
chowder
08-14-2006, 06:06 AM
I thought the Americans did call their cents pennies sometimes? (The song, Pennies From Heaven,k etc).
Yes they do and I'm asking why :D
GorillaMan
08-14-2006, 06:09 AM
It's a colloquialism from dating from at least 1889, apparently (http://www.etymonline.com/index.php?term=penny). Which only postdates the existence of the unit in America by a hundred years or so.
Mangetout
08-14-2006, 06:13 AM
My WAG would be that 'penny' describes the physical properties of the actual coin - i.e. a circular piece of copper, whereas 'cent' describes one hundredth of a dollar - a notional unit of currency.
These are two slightly different things - it just happens that we use the same term ('penny') for both of them in England.
chowder
08-14-2006, 06:14 AM
It's a colloquialism from dating from at least 1889, apparently (http://www.etymonline.com/index.php?term=penny). Which only postdates the existence of the unit in America by a hundred years or so.
Thanks. I often wondered about this
Polycarp
08-14-2006, 06:18 AM
Borrowed from you Brits -- a "penny" is, after all, a very common referent for a small item of currency, in everything from Bible to proverbs to popular song. Both are, in the modern era, small copper-alloy coins. So "penny" became slang for "one-cent piece."
WotNot
08-14-2006, 06:20 AM
My WAG would be that 'penny' describes the physical properties of the actual coin - i.e. a circular piece of copper, whereas 'cent' describes one hundredth of a dollar - a notional unit of currency.
These are two slightly different things - it just happens that we use the same term ('penny') for both of them in England.
In the singular, yes, though we do differentiate when it comes to larger sums: twenty pence is not necessarily twenty pennies.
chowder
08-14-2006, 06:25 AM
OK that's pennies sorted.
Now then why do you call your 5c and 10c coins nickels and dimes (or is it the other way around?)
I mean our coinage, since decimalisation in 1971, has no slang? for it.
10p is ten pence, 20p is twenty and so on.
Pre 1971 6d was a tanner, 1/0d was a bob, 5/0d was half a dollar, £1 was a quid
Alive At Both Ends
08-14-2006, 06:32 AM
Pre 1971 6d was a tanner, 1/0d was a bob, 5/0d was half a dollar, £1 was a quid
£1 still is a quid. And 2/6d was half a crown, though I don't suppose that counts as slang since the coin actually had "HALF CROWN" on it.
Jonathan Chance
08-14-2006, 06:35 AM
Well, heck. A 'nickel' was originally made of, well, nickel.
And I'm pretty sure 'dime' has some latin root in 'tenth' or somesuch.
aldiboronti
08-14-2006, 06:35 AM
Yes they do and I'm asking why :D
D'oh! :smack:
Sorry, chowder, I misread your question. Normal service will now be resumed.
chowder
08-14-2006, 06:37 AM
£1 still is a quid. And 2/6d was half a crown, though I don't suppose that counts as slang since the coin actually had "HALF CROWN" on it.
Yes it did, I just 'membered.
What was a silver threepenny bit called?
GorillaMan
08-14-2006, 06:38 AM
'Nickel' comes from the metal used to make the coins at one stage, and 'dime' is an official name (like half crown), meaning 'tenth'.
Bryan Ekers
08-14-2006, 06:39 AM
What was a silver threepenny bit called?
A Mack.
:D
chowder
08-14-2006, 06:42 AM
A Mack.
:D
A little mac as opposed to a big 'un :p
I think, having trawled through my grey matter, it was called a "Joey" or a "Jimmy" or summat :D
Mangetout
08-14-2006, 07:06 AM
I mean our coinage, since decimalisation in 1971, has no slang? for it.Given time, I'm sure it will.
Besides, it does have slang; a pound coin is commonly called a 'nug' or 'nugget' (as distinct from 'quid', which refers to the monetary unit). Can't think of any more examples, but I bet they're out there somewhere.
Alive At Both Ends
08-14-2006, 07:23 AM
I think, having trawled through my grey matter, it was called a "Joey" or a "Jimmy" or summat :D
A "Joey". But it was only the silver ones that were called that. The 12-sided brass ones didn't have a name that I recall.
spingears
08-14-2006, 07:26 AM
Here in the UK our currency is pounds and pence, we don't call our pennies cents.
USA currency is dollars and cents so why do you call your cents pennies :confused:A penny is one percent of a dollar!
Hence one cent or cent for short.
Mangetout
08-14-2006, 07:33 AM
A penny is one percent of a dollar!
Hence one cent or cent for short.
Bwuh?
'Cent' is not short for 'percent'.
Mangetout
08-14-2006, 07:34 AM
That is to say, 'cent' means 100; 'percent' means 'of 100'.
Polycarp
08-14-2006, 07:48 AM
Centum = latin for hundred. I believe there's an adjective, something like centesimus, that means "hundredth."
Originally (and odds are samclem and I are the only two Dopers who know it), the $0.10 coin was a "disme" -- coined from decimus, one-tenth. The first, pattern pieces were called "dismes." The "-s-" infix was dropped within the first year, and all ten-cent pieces since then are "one dime." Unlike other current American coins except the cent and dollar, it's the official, legal name for the coin.
Until 1857, the U.S. issued a tiny silver coin called a "half dime," worth five cents in silver. Beginning with a pattern piece in 1856 and continuing to the present, this was replaced with a larger, baser-metal coin which was originally made of a mostly-nickel alloy. Hence "nickel" for the five-cent piece.
The quarter is of course a quarter dollar, $0.25. And the half-dollar needs no explanation.
Prior to 1933, we had gold coins: a tiny gold dollar, and four standard coins valued at $2.50, $5.00, $10.00, and $20.00 -- respectively the quarter eagle, half eagle, eagle, and double eagle. (There were also, for a while $3.00 and briefly $4.00 gold coins.)
A fair amount of British money slang comes from the period before decimalization (early 1970s) where a penny was 1/240 of a pound, 12 pennies to the shilling and 20 shillings to the pound. Not to mention that the Brits insist on stating prices in "guineas" -- which have not been coined since, I think, 1797. ;)
Johnny L.A.
08-14-2006, 07:49 AM
That is to say, 'cent' means 100; 'percent' means 'of 100'.
From here (http://www.etymonline.com/index.php?term=cent) (emphasis mine):
c.1400, from L. centum "hundred" (see hundred). M.E. meaning was "one hundred," but shifted to "hundredth part" under infl. of percent. Chosen in this sense in 1786 as name for U.S. currency unit by Continental Congress.
I'd always assumed that the U.S. 'cent' came from the French centime (which would have come from the Latin centum).
GorillaMan
08-14-2006, 07:51 AM
Not to mention that the Brits insist on stating prices in "guineas"
Huh? We do?
Alive At Both Ends
08-14-2006, 07:58 AM
Not to mention that the Brits insist on stating prices in "guineas" -- which have not been coined since, I think, 1797. ;)
Guineas, as a unit of currency, went out with decimalisation in 1971. They were a bit of a scam anyway. One guinea was 21 shillings, equivalent to £1.05 in today's money. Expensive items were priced in guineas to make them look cheaper. A price of 200gns seemed less than £210 somehow.
Mangetout
08-14-2006, 07:58 AM
Huh? We do?
Only in a few places; I believe horses are still bought and sold that way.
mnemosyne
08-14-2006, 08:00 AM
I figure I might as well add a few more coin slang, this time from the Canadians, for those of you who might be curious. Often we will use the same terms as Americans, but we have a few of our own, too. I'll add French terms for those of you going to Québec one day! If I missed anything, I apologise!
1 cent = "cent", "penny" or, in French, "sou", "cents" but pronounces "senne"
5 cent = "nickel", French = "cinque cents" or "cinq sous"
10 cent = "dime", French = "dix cents" or "dix sous"
25 cent = "quarter" French "vingt-cinq cents/sous"
1 dollar = "loonie" (so named because it has a picture of a loon it. The Queen appears on the other side, as with all coins), sometimes called a "buck" (after the American term) or simply a "dollar". French "un dollar" or "une piastre"
2 dollar (it's a coin here) = "toonie", derived from "loonie" only now it's 2! French = "deux dollars/piastres".
Back in 1996, when the toonie was first distributed, there was a lot of talk about what Canadians would call it. One popular example (at least in my home town) was the Moonie. Why?
because it had the Queen in front with a bear (bare) behind!
Mangetout
08-14-2006, 08:12 AM
From here (http://www.etymonline.com/index.php?term=cent) (emphasis mine):
I'd always assumed that the U.S. 'cent' came from the French centime (which would have come from the Latin centum).
I agree; however, Spingears appears to be suggesting 'cent' is a contraction of 'percent'.
chowder
08-14-2006, 09:51 AM
Centum = latin for hundred. I believe there's an adjective, something like centesimus, that means "hundredth."
Originally (and odds are samclem and I are the only two Dopers who know it), the $0.10 coin was a "disme" -- coined from decimus, one-tenth. The first, pattern pieces were called "dismes." The "-s-" infix was dropped within the first year, and all ten-cent pieces since then are "one dime." Unlike other current American coins except the cent and dollar, it's the official, legal name for the coin.
Until 1857, the U.S. issued a tiny silver coin called a "half dime," worth five cents in silver. Beginning with a pattern piece in 1856 and continuing to the present, this was replaced with a larger, baser-metal coin which was originally made of a mostly-nickel alloy. Hence "nickel" for the five-cent piece.
The quarter is of course a quarter dollar, $0.25. And the half-dollar needs no explanation.
Prior to 1933, we had gold coins: a tiny gold dollar, and four standard coins valued at $2.50, $5.00, $10.00, and $20.00 -- respectively the quarter eagle, half eagle, eagle, and double eagle. (There were also, for a while $3.00 and briefly $4.00 gold coins.)
A fair amount of British money slang comes from the period before decimalization (early 1970s) where a penny was 1/240 of a pound, 12 pennies to the shilling and 20 shillings to the pound. Not to mention that the Brits insist on stating prices in "guineas" -- which have not been coined since, I think, 1797. ;)
To the best of my knowledge guineas are still coined every year.....a limited number maybe, but still........
Also as has been stated horses are sold by the guinea but I have a feeling that this is just an archaic thing.
chowder
08-14-2006, 09:56 AM
I also believe we still issue "Groats" (4 pence) coins but for what reason I haven't the foggiest unless it has something to do with Maundy money which ER2 dishes out each year to deserving people or causes.
I've never bloody had any and I deserve some :D
Chefguy
08-14-2006, 09:58 AM
Originally (and odds are samclem and I are the only two Dopers who know it), the $0.10 coin was a "disme" -- coined from decimus, one-tenth.
Ah Pride, thy name is Polycarp. :)
Gary T
08-14-2006, 10:11 AM
As to dime, from here. (http://en.wikipedia.org/wiki/Dime_(United_States_coin))
"The name of the coin comes from the French disme (modern French spelling dîme), meaning "tithe" or "tenth part," from the Latin decima [pars]. This term appeared on early pattern coins, but was never used on any circulating dimes."
Alive At Both Ends
08-14-2006, 10:24 AM
To the best of my knowledge guineas are still coined every year.....a limited number maybe, but still........
I've never heard of this, and I used to collect coins. Do you have a cite?
The "groats" are Maundy money, but they aren't really groats as their face value is 4p, that is, 4 decimal pence, not 4d (old pence). There are also Maundy 3p pieces.
Alive At Both Ends
08-14-2006, 10:30 AM
Oops, accidentally posted too soon.
There are four Maundy coins, for 4p, 3p, 2p and 1p. They are all made of silver and the 2p and 1p coins bear no resemblance to the ordinary 2p and 1p coins. You'll never see any of them in circulation.
Here's a link to photos of a 1792 half disme (http://www.jankovsky.net/Age_of_Empires/US_Collection/Half_Disme/half_disme.html). About 1500 of these were struck.
yabob
08-14-2006, 12:16 PM
The three cent silver piece was sometimes called a "trime". How often the term was actually used in everyday speech, I don't know. And I HAD heard of the "disme".
Chronos
08-14-2006, 12:26 PM
My WAG would be that 'penny' describes the physical properties of the actual coin - i.e. a circular piece of copper, whereas 'cent' describes one hundredth of a dollar - a notional unit of currency.Just wanted to say that this is correct. You might pick up a penny from the sidewalk, but a price would always be expressed in cents.
And "dime" (and yes, I knew "disme", too, though I probably learned it from samclem) is officially a unit of currency (the coin says "one dime" on it, not "ten cents"), but it's never actually used as such, only as the name of the coin. You'd never say something costs "two dimes", you'd say "twenty cents".
Officially, the US also has a monetary unit called the "mil", equal to one tenth of a cent, but I don't think there have ever been coins in that amount (there certainly aren't now), and they're only ever used in a few specialized contexts.
OldGuy
08-14-2006, 01:25 PM
Officially, the US also has a monetary unit called the "mil", equal to one tenth of a cent, but I don't think there have ever been coins in that amount (there certainly aren't now), and they're only ever used in a few specialized contexts.
If we're keeping track I knew a dime was originally spelled disme and was an official unit, but .....
I'm mostly here to report that one-thousandth of a dollar is a mill (with 2 l's). A mil is one thousandth of an inch mostly used to measure thickness. See e.g.,
http://en.wikipedia.org/wiki/Mill_(currency)
A mil is 1/1000 of the Hong Kong dollar though
http://en.wikipedia.org/wiki/Mil
Polycarp
08-14-2006, 02:48 PM
::: repents in sackcloth and ashes from being pelted with dismes by irate Dopers :::: :o
Bookkeeper
08-14-2006, 03:32 PM
Back in 1996, when the toonie was first distributed, there was a lot of talk about what Canadians would call it. One popular example (at least in my home town) was the Moonie.
I tried to popularize "doubloon" (as it was a double loonie, ye see, arrrrh!), but it never caught on. There are advantages to being able to talk about a loonie-toonie fiscal policy, however :D
robcaro
08-14-2006, 03:44 PM
I remember when, in the USA, a quarter was sometimes referred to as 2 bits. And 75¢, not a coin, was referred to as 6 bits.
Auntbeast
08-14-2006, 04:29 PM
I'm just glad that my eternal question has finally been answered, then again, I could never remember to ask anyone that could tell me, or even remember to google it.
I am 38 years old and only just found out that a quid=1 pound. The english pence/quid/fiver/etc has always confused the heck out of me.
Cardinal
08-14-2006, 05:06 PM
Pre 1971 6d was a tanner, 1/0d was a bob, 5/0d was half a dollar, £1 was a quidOk, you Americans, I'll ask for you.
I'm a local answer-guy, like so many Dopers, and I've never even heard of this counting. What the heck is the translation of this? What are the slang terms for a pound, so I don't make myself sound extra stupid? When is "bob"used?
Alive At Both Ends
08-14-2006, 05:15 PM
Ok, you Americans, I'll ask for you.
I'm a local answer-guy, like so many Dopers, and I've never even heard of this counting. What the heck is the translation of this? What are the slang terms for a pound, so I don't make myself sound extra stupid? When is "bob"used?
Take a look at this site (http://www.24carat.co.uk/commoncoinnamesframe.html) which explains it far better than I could.
garygnu
08-14-2006, 05:30 PM
I remember when, in the USA, a quarter was sometimes referred to as 2 bits. And 75¢, not a coin, was referred to as 6 bits.
This comes from dubloons or whatever being devided into 8 pieces (hence "pieces of eight). Call the pieces "bits" and you get one quarter made up of two bits.
The term is especially useful for raising your auction bid on your girl's picnic basket.
Chronos
08-14-2006, 05:56 PM
Oh, and if Canada ever gets a $5 coin, I firmly believe that they should put an albatross on it.
Because then, it could be a goonie.
AskNott
08-14-2006, 06:08 PM
I haven't heard anyone speak of "two bits" for a quarter dollar for a long time. However, my high school cheerleaders were fond of this cheer:
"Two bits, four bits, six bits, a dollar
All for the (your team) stand up and holler!"
Your fans stand up and make a lot of noise, and you hope to show they outnumber the other team's fans. Sometimes, both teams' fans would belt out a rondo of "Two Bits," until everybody got winded.
samclem
08-14-2006, 07:36 PM
Let me preface my answer to the OP with "this is just my considered opinion."
Prior to the US Mint starting to make coins in 1793, the citizens of the US used whatever coins were around. Mostly Spanish silver coins, probably mostly English copper coins.
I'll be willing to wager that the general term for a copper "penny," while derived from the English coins, was merely continued out of habit by the US citizens, even when we began to make(in small quantities at first) a "cent" copper coin. The term "cent" has never been used much in American Speech except in phrases such as "not one red cent" etc. Cent was always used in formal speech. But I'll wager(again) that "penny" was the everyday term that we used and still use.
As far as nickels being made out of nickel--mostly wrong. Since the first one in 1866, they are 75% copper.
Spectre of Pithecanthropus
08-14-2006, 07:57 PM
OK that's pennies sorted.
Now then why do you call your 5c and 10c coins nickels and dimes (or is it the other way around?)
Also, after a cursory scanning, I didn't see mentioned the fact that 'dime' is also a legal unit of account, which is why it's "one dime" on the coin. I suspect that if I wished, I could pay somebody with a check made out in dimes rather than dollars, just moving the decimal point in the amount one place to the right.
It does seem odd to have such a small unit, but then, of course until fifty or so years ago prices were a fraction of what they are now, and there were many things you could buy with a dime or two.
One thing that doesn't seem to have happened much here is everyday reckoning of prices in dimes, like the way you used to do with shillings. I know that before decimalization, one might say that something cost 30 shillings rather than a pound and a half.
GorillaMan
08-14-2006, 08:06 PM
I'm a local answer-guy, like so many Dopers, and I've never even heard of this counting. What the heck is the translation of this? What are the slang terms for a pound, so I don't make myself sound extra stupid? When is "bob"used?
Pre-1971, British currency had three units: pounds, shillings and pence. 20 shillings in a pound, 12 pence in a shilling. The shorthand for writing prices was L/S/D, the abbreviations coming from Latin. Most items would only be priced in shillings and pence, and so 3/7 would mean 'three shillings seven pence'. 4/- meant four shillings exactly, and -/8 or 8d would mean eight pence.
'Bob' was slang for 'shilling', so something could cost 'four bob', for instance. As the shilling no longer exists, the slang no longer has a precise meaning, but it still exists in more general ways: if something's "worth a few bob", then you should think about putting on eBay.
Re. 'half dollar' for a half-crown...googling it suggests that it was related to the near-1:1 values of the US$ and 5-shilling crown for a long period after WW2. WAG - perhaps the slang originated from American servicemen during the war?
Jeff Lichtman
08-14-2006, 08:32 PM
Before the U.S. and the U.K. floated their currencies, the exchange value of a pound was fixed at $2.40. So there were the same number of U.K. pence and U.S. cents to a pound - in other words, a U.K. penny and a U.S. cent had the same value.
guizot
08-14-2006, 08:57 PM
You'd never say something costs "two dimes", you'd say "twenty cents".Yes, but you would say "Brother, can you spare a dime?"
samclem
08-14-2006, 10:46 PM
Before the U.S. and the U.K. floated their currencies, the exchange value of a pound was fixed at $2.40. So there were the same number of U.K. pence and U.S. cents to a pound - in other words, a U.K. penny and a U.S. cent had the same value.
Prior to WWII(I believe), a pound was worth $5 US.
I went looking and found 1933=$4.49US
By 1954, $2.81US
chowder
08-15-2006, 12:09 AM
It has to be said that this thread has been very informative and all replies appreciated, thanks you guys.
Now I'm orf darn the boozer for a bevy, I may nip over to the bookies and have a tile surround on the favourite in the 2.30. :D
garygnu
08-15-2006, 12:48 AM
I'm glad I was able to put in my two cents.
spingears
08-15-2006, 06:21 AM
Originally (and odds are samclem and I are the only two Dopers who know it), the $0.10 coin was a "disme" -- coined from decimus, one-tenth. The first, pattern pieces were called "dismes." The "-s-" infix was dropped within the first year, and all ten-cent pieces since then are "one dime." Unlike other current American coins except the cent and dollar, it's the official, legal name for the coin.
" (and odds are samclem and I are the only two Dopers who know it), "
Sorry Polycarp
There is at least two, one doper, and Mrs. doper who have called ten cents a dime all their lives that the can recall, and that 60 + 4 or 5!
Polycarp
08-15-2006, 06:41 AM
" (and odds are samclem and I are the only two Dopers who know it), "
Sorry Polycarp
There is at least two, one doper, and Mrs. doper who have called ten cents a dime all their lives that the can recall, and that 60 + 4 or 5!
Well, heck, I wouldn't bet one thin dime that almost every American and Canadian Doper has called that 10c piece a "dime" at one time or another -- that's what it is. What I erroneously claimed exclusive knowledge of was the source of "dime" in the pattern "disme" coins.
homeskillet
08-15-2006, 04:27 PM
I remember when, in the USA, a quarter was sometimes referred to as 2 bits. ...and was good for a shave and a haircut.
Chefguy
08-15-2006, 08:17 PM
::: repents in sackcloth and ashes from being pelted with dismes by irate Dopers :::: :o
You only wish it were so. You'd be a wealthy person.
dtilque
08-16-2006, 02:15 AM
As far as nickels being made out of nickel--mostly wrong. Since the first one in 1866, they are 75% copper.
However, for many years the Canadian nickel was made out of 100% nickel. Now I believe it's made from the same or a similar alloy as the US coin.
No one has adressed why the US 10 cent piece was officially called a dime (or disme). As I understand it, someone back then had the idea of a three level money system, just like the L/S/D British system discussed upthread. That is, they expected amounts of money to be quoted in $/Dimes/Cents. Why they thought this was a good idea is a mystery to me, but fortunately common sense prevailed and we didn't do that.
samclem
08-16-2006, 06:22 AM
However, for many years the Canadian nickel was made out of 100% nickel. Now I believe it's made from the same or a similar alloy as the US coin.
No one has adressed why the US 10 cent piece was officially called a dime (or disme). As I understand it, someone back then had the idea of a three level money system, just like the L/S/D British system discussed upthread. That is, they expected amounts of money to be quoted in $/Dimes/Cents. Why they thought this was a good idea is a mystery to me, but fortunately common sense prevailed and we didn't do that. A previous thread http://boards.straightdope.com/sdmb/showthread.php?t=268339&highlight=jefferson+disme and a post from there 31 U.S.C. § 5101. The term "dime" (originally "disme") has been around since the Coinage Act of 1792:
Quote:
Section 9. And be it further enacted, That there shall be from time to time struck and coined at the said mint, coins of gold, silver, and copper, of the following denominations, values and descriptions, viz.
EAGLES —each to be of the value of ten dollars or units, and to contain two hundred and forty-seven grains and four eighths of a grain of pure, or two hundred and seventy grains of standard gold.
HALF EAGLES —each to be of the value of five dollars, and to contain one hundred and twenty-three grains and six eighths of a grain of pure, or one hundred and thirty-five grains of standard gold.
QUARTER EAGLES —each to be of the value of two dollars and a half dollar, and to contain sixty-one grains and seven eighths of a grain of pure, or sixty-seven grains and four eighths of a grain of standard gold.
DOLLARS OR UNITS —each to be of the value of a Spanish milled dollar as the same is now current, and to contain three hundred and seventy-one grains and four sixteenth parts of a grain of pure, or four hundred and sixteen grains of standard silver.
HALF DOLLARS —each to be of half the value of the dollar or unit, and to contain one hundred and eighty-five grains and ten sixteenth parts of a grain of pure, or two hundred and eight grains of standard silver.
QUARTER DOLLAR —each to be of one fourth the value of the dollar or unit, and to contain ninety-two grains and thirteen sixteenth parts of a grain of pure, or one hundred and four grains of standard silver.
DISMES —each to be of the value of one tenth of a dollar or unit, and to contain thirty- seven grains and two sixteenth parts of a grain of pure, or forty-one grains and three fifths parts of a grain of standard silver.
HALF DISMES —each to be of the value of one twentieth of a dollar, and to contain eighteen grains and nine sixteenth parts of a grain of pure, or twenty grains and four fifths parts of a grain of standard silver.
CENTS —each to be of the value of the one hundredth part of a dollar, and to contain eleven penny-weights of copper.
HALF CENTS —each to be of the value of half a cent, and to contain five penny-weights and a half a penny-weight of copper.
And in another old thread Jefferson coined the term disme, from the French dixieme, for a tenth of a dollar. Pronounced deem, it eventually became dime.
h.sapiens
08-16-2006, 09:23 AM
This comes from dubloons or whatever being devided into 8 pieces (hence "pieces of eight). Call the pieces "bits" and you get one quarter made up of two bits.
The term is especially useful for raising your auction bid on your girl's picnic basket.
Also helpful when getting a shave and a haircut.
PoorYorick
08-16-2006, 10:40 AM
Officially, the US also has a monetary unit called the "mil", equal to one tenth of a cent, but I don't think there have ever been coins in that amount (there certainly aren't now), and they're only ever used in a few specialized contexts.
Back in the early '60's, my grandfather in Oklahoma used to carry around a handfull of "mills" in his pocket for some reason, and gave me one (I've lost it since, darn it). If I remember correctly, each was silver in color, was lightweight (zinc?), had a hole in the center, and was stamped with something like ("Oklahoma," and "One-tenth of one cent." He said that they had been minted specially for taxes less than one cent. I didn't think to ask him who minted the coins (did Oklahoma ever have a mint?), or when and how the mils were actually used..
samclem
08-16-2006, 06:35 PM
Back in the early '60's, my grandfather in Oklahoma used to carry around a handfull of "mills" in his pocket for some reason, and gave me one (I've lost it since, darn it). If I remember correctly, each was silver in color, was lightweight (zinc?), had a hole in the center, and was stamped with something like ("Oklahoma," and "One-tenth of one cent." He said that they had been minted specially for taxes less than one cent. I didn't think to ask him who minted the coins (did Oklahoma ever have a mint?), or when and how the mils were actually used.. It was aluminum and made to pay sales tax. Well, actually a receipt for the customer of sales tax paid. In Ohio at the time it was a paper chit. In Ariz., a zinc token. etc.
OldGuy
08-16-2006, 07:18 PM
It was aluminum and made to pay sales tax. Well, actually a receipt for the customer of sales tax paid. In Ohio at the time it was a paper chit. In Ariz., a zinc token. etc.
Exactly. I believe it was the way to ensure the tax collected was turned over to the state. The retailers purchased the tax stamps (in Ohio) from the government and handed them out to the customers. The governemnt then knew they were getting all the tax they were entitled to (provided the customers insisted on getting the tax stamps.) We as students collected the tax stamps at school and could turn them in for something -- what I don't recall. It wasn't somethign individual. I mean the school as a whole or perhaps a class a a whole collected the stamps. And since the kids were asking for them, the parents made sure to get them.
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