# Currency - 1,2, and 5 **URL:** \ **Category:** Factual Questions\ **Created:** [September 22, 2022, 2:08pm UTC](https://boards.straightdope.com/t/currency-1-2-and-5/972035 "2022-09-22T14:08:13Z")\ **Posts on this page:** 19\ **Page:** 2
**Author:** ![Great\_Antibob](https://avatars.discourse-cdn.com/v4/letter/g/e47c2d/32.png) [@Great\_Antibob](https://boards.straightdope.com/u/Great_Antibob)\ **Post date:** [September 22, 2022, 7:12pm UTC](https://boards.straightdope.com/t/currency-1-2-and-5/972035/21 "2022-09-22T19:12:42Z")
And the $50 is not really common either (though not quite as uncommon as the $2). Most of us seem to use the $1 and $20 most commonly with the odd $5, $10, and $100 mixed in. This is borne out by the numbers from the Fed. There are about as many $50 bills in circulation as $10. And a ton of $100 bills. One presumes the $50 and $100 bills in circulation are mainly as cash reserves, i.e. people holding onto them as stores of value with no intention of everyday use. There are more $1 bills in circulation than $2, $5, $10, and $50 bills combined. > **[Federal Reserve Board - Currency in Circulation: Volume](https://www.federalreserve.gov/paymentsystems/coin_currcircvolume.htm)** > > The Federal Reserve Board of Governors in Washington DC. ---
**Author:** ![Exapno\_Mapcase](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/exapno_mapcase/32/1051_2.png) [@Exapno\_Mapcase](https://boards.straightdope.com/u/Exapno_Mapcase)\ **Post date:** [September 22, 2022, 7:19pm UTC](https://boards.straightdope.com/t/currency-1-2-and-5/972035/22 "2022-09-22T19:19:11Z")
> [@Dr.Drake](#): > > But the $10 bill is not as common. They’re not _rare_ or anything, but it’s more common to see $1, $5, and $20. I’ve never quite understood why. Seems that ATMs generally (with lots of specific exceptions) have standardized on dispensing only twenties. Even when they give out tens you can’t ask for the total in tens. So asking for $210 gives you ten $20 and 1 $10. My wallet usually looks something like that. ---
**Author:** ![Keeve](https://avatars.discourse-cdn.com/v4/letter/k/f07891/32.png) [@Keeve](https://boards.straightdope.com/u/Keeve)\ **Post date:** [September 22, 2022, 7:46pm UTC](https://boards.straightdope.com/t/currency-1-2-and-5/972035/23 "2022-09-22T19:46:18Z")
> [@Exapno\_Mapcase](#): > > Seems that ATMs generally (with lots of specific exceptions) have standardized on dispensing only twenties. My understanding is that this is to prevent mistakes when loading the machine. If the deliveryperson accidentally puts a stack of twenties in the $10 box, and a stack of tens in the $20 box, some faces will be smiling, but other heads will be rolling. Other countries solve this problem (and a big aspect of counterfeiting) by making the notes at different sizes. ---
**Author:** ![Hari\_Seldon](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/hari_seldon/32/5173_2.png) [@Hari\_Seldon](https://boards.straightdope.com/u/Hari_Seldon)\ **Post date:** [September 22, 2022, 8:15pm UTC](https://boards.straightdope.com/t/currency-1-2-and-5/972035/24 "2022-09-22T20:15:07Z")
Just to mention a curiosity. Canada has, as mentioned, a 25 cent coin, but in French it is called “trente sous” (30 cents). Someone once told that there was a 30 something coin once, but I cannot verify that. One difference is names of coins. The US has 1 cent, five cent, dime, quarter dollar and half dollar coins. Canada has 1, five, ten, twenty five, and fifty cent coins. Dime is, I believe, short for dixième or tenth. ---
**Author:** ![Little\_Nemo](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/little_nemo/32/3120_2.png) [@Little\_Nemo](https://boards.straightdope.com/u/Little_Nemo)\ **Post date:** [September 23, 2022, 2:20am UTC](https://boards.straightdope.com/t/currency-1-2-and-5/972035/25 "2022-09-23T02:20:27Z")
> [@jnglmassiv](#): > > > [@Little\_Nemo](#): > > > > … 10 Yen (a penny), along with 5 and 1 Yen coins. > > What kinds of things are a 1 Yen coin used for? A tenth of a penny is awfully low. I was pointing out the relative values between the face values within the currency not the exchange rate between the two different currencies. Lowest value note 1 dollar = 1000 yen Coin worth half that amount (half dollar equivalent) fifty cent coin = 500 yen coin Coin worth a tenth that amount (dime equivalent) ten cent coin (dime) = 100 yen coin Coin worth a twentieth that amount (nickel equivalent) five cent piece (nickel) = 50 yen coin Coin worth a hundredth that amount (penny equivalent) one cent piece (penny) = 10 yen coin Ranked on this scale, the American quarter has no Japanese equivalent and the Japanese five and one yen coins have no American equivalent. The actual value of a one yen coin is a little over two thirds of an American cent. ---
**Author:** ![pirviii](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/pirviii/32/3233_2.png) [@pirviii](https://boards.straightdope.com/u/pirviii)\ **Post date:** [September 23, 2022, 3:20am UTC](https://boards.straightdope.com/t/currency-1-2-and-5/972035/26 "2022-09-23T03:20:58Z")
> [@Exapno\_Mapcase](#): > > So asking for $210 gives you ten $20 and 1 $10 My credit union would give you 2 $100s and 2 $5s. They also give out many $50s, which works for me, as what I usually spend cash on is between $40 and $50. ---
**Author:** ![dtilque](https://avatars.discourse-cdn.com/v4/letter/d/d6d6ee/32.png) [@dtilque](https://boards.straightdope.com/u/dtilque)\ **Post date:** [September 23, 2022, 8:10am UTC](https://boards.straightdope.com/t/currency-1-2-and-5/972035/27 "2022-09-23T08:10:06Z")
> [@Bonum\_Legatum](#): > > Yes, but I was pointing out that the United States at one time did have a “multiple” coin that fit the 1,2,5 series mentioned in the OP. I don’t think there’s ever been a US$2.00 coin, but there was one worth $2.50: > **[Quarter eagle](https://en.wikipedia.org/wiki/Quarter_eagle)** > > The quarter eagle was a gold coin issued by the United States with a value of two hundred and fifty cents, or two dollars and fifty cents. It was given its name in the Coinage Act of 1792, as a derivation from the US ten-dollar eagle coin. > The quarter eagle denomination was struck at the main mint at Philadelphia (1796–1929), and branch mints in Charlotte (1838–1860), New Orleans (1839–1857 only), Dahlonega (1839–1859), San Francisco (1854–1879), and Denver (1911–1925). Years were skipped at the... > [@Dr.Drake](#): > > But the $10 bill is not as common. They’re not _rare_ or anything, but it’s more common to see $1, $5, and $20. I’ve never quite understood why. We’ve discussed this frequently in previous money threads. ATMs mostly give out $20s, retail businesses get a lot of $1 and $5 from their banks to make change. Those are the two main ways currency gets into circulation. Note the absence of $10 in those transactions. ---
**Author:** ![psychonaut](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/psychonaut/32/4655_2.png) [@psychonaut](https://boards.straightdope.com/u/psychonaut)\ **Post date:** [September 23, 2022, 8:19am UTC](https://boards.straightdope.com/t/currency-1-2-and-5/972035/28 "2022-09-23T08:19:29Z")
Transnistria has a 25-kopeck coin. There’s also a square, plastic 3-ruble coin, but I don’t think it’s in general circulation. (At least, I didn’t get any in change when I was there; I bought a full set of the odd-shaped plastic coins in a post office.) There’s also a 25-ruble banknote. ---
**Author:** ![Dr.Drake](https://avatars.discourse-cdn.com/v4/letter/d/ad7895/32.png) [@Dr.Drake](https://boards.straightdope.com/u/Dr.Drake)\ **Post date:** [September 23, 2022, 9:46am UTC](https://boards.straightdope.com/t/currency-1-2-and-5/972035/29 "2022-09-23T09:46:10Z")
That’s tautological, though: $10s don’t circulate because people get $1s and $5s to make change. Well, why don’t they get $1s, $5s, and $10s to make change? Or $10s, $2s, and quarters? They don’t seek $10s for… reasons. For that matter, I’ve never understood what was wrong with the $2. $2 coins are common in Canada. though $10s have the same issues as in the USA. At some point, cultural preferences are illogical. ---
**Author:** ![Machine\_Elf](https://avatars.discourse-cdn.com/v4/letter/m/82dd89/32.png) [@Machine\_Elf](https://boards.straightdope.com/u/Machine_Elf)\ **Post date:** [September 23, 2022, 9:54am UTC](https://boards.straightdope.com/t/currency-1-2-and-5/972035/30 "2022-09-23T09:54:27Z")
> [@Little\_Nemo](#): > > Lowest value note > 1 dollar = 1000 yen The **[USDJPY exchange rate](https://www.google.com/search?q=usdjpy&rlz=1C1GCEA_enUS930US931&oq=usdjpy&aqs=chrome.0.69i59.963j0j7&sourceid=chrome&ie=UTF-8)** is a little skewed lately (currently 143 yen per dollar), but over the past decade it’s averaged around 100 yen per dollar, and this week the Bank of Japan has finally taken steps to to strengthen the yen, which would move USDJPY back toward that level. In other words, a 1000-yen note is roughly the equivalent of a $10 bill, not a $1 bill. Whereas the US has the dollar store, Japan has **[100-yen shops](https://en.wikipedia.org/wiki/100-yen_shop)**. > [@Little\_Nemo](#): > > Ranked on this scale, the American quarter has no Japanese equivalent and the Japanese five and one yen coins have no American equivalent. > **[Japanese yen | Coins](https://en.wikipedia.org/wiki/Japanese_yen#Coins)** > > The obverse side of all coins shows the coin's value in kanji as well as the country name (through 1945, Dai Nippon (大日本, "Great Japan"); after 1945, Nippon-koku (日本国, "State of Japan") (except for the current 5-yen coin with the country name on the reverse). The reverse side of all coins shows the year of mintage, which is not shown in Gregorian calendar years, but instead in the regnal year of the current emperor's reign. Royal portraits have never appeared on Japanese coins, as the image of th... Assuming a USDJPY exchange rate of ~100, the 1, 5, 10, and 50-yen coins are roughly equivalent to a penny, nickel, dime, and half-dollar coin - though you’re right, there’s no Japanese counterpart to the US quarter. ---
**Author:** ![Slow\_Moving\_Vehicle](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/slow_moving_vehicle/32/291_2.png) [@Slow\_Moving\_Vehicle](https://boards.straightdope.com/u/Slow_Moving_Vehicle)\ **Post date:** [September 23, 2022, 12:16pm UTC](https://boards.straightdope.com/t/currency-1-2-and-5/972035/31 "2022-09-23T12:16:01Z")
> [@Machine\_Elf](#): > > > [@Little\_Nemo](#): > > > > Lowest value note > > 1 dollar = 1000 yen > > The **[USDJPY exchange rate](https://www.google.com/search?q=usdjpy&rlz=1C1GCEA_enUS930US931&oq=usdjpy&aqs=chrome.0.69i59.963j0j7&sourceid=chrome&ie=UTF-8)** is a little skewed lately (currently 143 yen per dollar), but over the past decade it’s averaged around 100 yen per dollar, and this week the Bank of Japan has finally taken steps to to strengthen the yen, which would move USDJPY back toward that level. > > In other words, a 1000-yen note is roughly the equivalent of a $10 bill, not a $1 bill. Whereas the US has the dollar store, Japan has **[100-yen shops](https://en.wikipedia.org/wiki/100-yen_shop)**. > > > [@Little\_Nemo](#): > > > > Ranked on this scale, the American quarter has no Japanese equivalent and the Japanese five and one yen coins have no American equivalent. > > [Japanese yen - Wikipedia](https://en.wikipedia.org/wiki/Japanese_yen#Coins) > > Assuming a USDJPY exchange rate of ~100, the 1, 5, 10, and 50-yen coins are roughly equivalent to a penny, nickel, dime, and half-dollar coin - though you’re right, there’s no Japanese counterpart to the US quarter I think you missed @Little_Nemo 's point. They weren’t talking about the monetary values of dollars versus yen, but the relative values of different bills and coins within those two currencies. So the 1000 yen note may be worth around US$10, but it’s equivalent to the one-dollar bill, in regards to the subject of the thread, because they’re both the lowest-value banknote in their respective currencies. ---
**Author:** ![naita](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/naita/32/5862_2.png) [@naita](https://boards.straightdope.com/u/naita)\ **Post date:** [September 23, 2022, 1:48pm UTC](https://boards.straightdope.com/t/currency-1-2-and-5/972035/32 "2022-09-23T13:48:02Z")
> [@Mark\_Finn](#): > > Currencies around the world normally have coins/notes of values 1, > 2, and 5 (with or without one or more zeros added, and some values may be skipped). What do you base this claim on? In my, somewhat narrow, experience 25 is a pretty normal member of the smallest coins. Before starting to ditch the smallest coins in 1972 Norway had Coins 1 øre, 2 øre, 5 øre, 10 øre, 25 øre, 50 øre, 1 krone, 5 kroner Notes 10 kroner, 50 kroner, 100 kroner, 500 kroner, 1000 kroner. The 1 and 2 øre were dropped in 1972. 5 and 25 were dropped in 1982 In 1983 we gained a 10 kroner coin and lost the note (we had 10 kroner gold coins in the 19th century and commemorative silver 10 kroner coins in the early 20th, but this was the first commonly used 10 krone) In 1991 they stopped minting 10 øre and they were demonetized in 1993. We gained a common 20 kroner coin in 1994, along with a 200 kroner note. The last øre coin, the 50 øre was demonetized in 2012. Sweden ditched coins on almost the same schedule and the Danes have a similar story, but they chose to drop the 5 and 10 øre in 1989, keeping the 25 and 50, and the 50 is still valid. ---
**Author:** ![Mark\_Finn](https://avatars.discourse-cdn.com/v4/letter/m/34f0e0/32.png) [@Mark\_Finn](https://boards.straightdope.com/u/Mark_Finn)\ **Post date:** [September 23, 2022, 1:56pm UTC](https://boards.straightdope.com/t/currency-1-2-and-5/972035/33 "2022-09-23T13:56:55Z")
When i was in the USSR in 1987, i experienced their 1, 2, 3, 5, 10, 15, and 20 kopek coins. You only needed one coin to pay the 2 kopeck bus fare or 3 kopek tram fare. (AT the official rate, one ruble was worth about $2). I also used 3 dollar bills in the Cook Islands. ---
**Author:** ![Little\_Nemo](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/little_nemo/32/3120_2.png) [@Little\_Nemo](https://boards.straightdope.com/u/Little_Nemo)\ **Post date:** [September 23, 2022, 2:47pm UTC](https://boards.straightdope.com/t/currency-1-2-and-5/972035/34 "2022-09-23T14:47:11Z")
> [@Slow\_Moving\_Vehicle](#): > > I think you missed @Little_Nemo 's point. They weren’t talking about the monetary values of dollars versus yen, but the relative values of different bills and coins within those two currencies. So the 1000 yen note may be worth around US$10, but it’s equivalent to the one-dollar bill, in regards to the subject of the thread, because they’re both the lowest-value banknote in their respective currencies. Yes, this is what I was saying. ---
**Author:** ![Exapno\_Mapcase](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/exapno_mapcase/32/1051_2.png) [@Exapno\_Mapcase](https://boards.straightdope.com/u/Exapno_Mapcase)\ **Post date:** [September 23, 2022, 5:50pm UTC](https://boards.straightdope.com/t/currency-1-2-and-5/972035/35 "2022-09-23T17:50:46Z")
> [@pirviii](#): > > My credit union would give you 2 $100s and 2 $5s. They also give out many $50s, which works for me, as what I usually spend cash on is between $40 and $50. I said there were specific exceptions. Searching online, I see that a few bank chains offer $100 bills, but many people have never seen them. While understanding that people may wish to have fewer bills in their wallet or wherever, I’ve seen too many signs saying that no $100 bills (and sometimes $50) will be taken to want them. And they seem to always need verification, wasting my time. $20 have no such problems and there are no mixups, like this famous one from Texas. > **[A Houston ATM mistakenly gave out $100 bills and customers got to keep them](https://www.insider.com/atm-gave-out-100-bills-2018-11)** > > An ATM in Houston, Texas, dispensed $100 bills instead of $10 bills by mistake. The Bank of America ATM was loaded with the wrong bills by a vendor. ---
**Author:** ![phs3](https://avatars.discourse-cdn.com/v4/letter/p/8491ac/32.png) [@phs3](https://boards.straightdope.com/u/phs3)\ **Post date:** [September 23, 2022, 6:36pm UTC](https://boards.straightdope.com/t/currency-1-2-and-5/972035/36 "2022-09-23T18:36:59Z")
Hmm. I lived in Canada for 17 years and ten cents was a dime. ---
**Author:** ![dtilque](https://avatars.discourse-cdn.com/v4/letter/d/d6d6ee/32.png) [@dtilque](https://boards.straightdope.com/u/dtilque)\ **Post date:** [September 23, 2022, 7:17pm UTC](https://boards.straightdope.com/t/currency-1-2-and-5/972035/37 "2022-09-23T19:17:54Z")
> [@phs3](#): > > Hmm. I lived in Canada for 17 years and ten cents was a dime That’s an informal name in Canada. The official name of that coin is ten cent piece. The US coin is officially a Dime. It says so right on the reverse. The US monetary system has an official name for each power of 10 denomination: Cent, Dime, Dollar, Eagle. There’s also Mill (1/10 cent), but there’s never been a coin minted in that. It’s used to set tax rates for property taxes. Some people have wanted a higher denomination, the Union, but there’s never been any of those issued. Anyway, Canada only borrowed the cent and dollar denominations, not the others. ---
**Author:** ![phs3](https://avatars.discourse-cdn.com/v4/letter/p/8491ac/32.png) [@phs3](https://boards.straightdope.com/u/phs3)\ **Post date:** [September 23, 2022, 7:31pm UTC](https://boards.straightdope.com/t/currency-1-2-and-5/972035/38 "2022-09-23T19:31:49Z")
Ah, you meant official name. That I’d believe! Thanks. ---
**Author:** ![veryfrank](https://avatars.discourse-cdn.com/v4/letter/v/87869e/32.png) [@veryfrank](https://boards.straightdope.com/u/veryfrank)\ **Post date:** [September 23, 2022, 7:33pm UTC](https://boards.straightdope.com/t/currency-1-2-and-5/972035/39 "2022-09-23T19:33:19Z")
> [@Mangetout](#): > > If you’ll allow currencies that are no longer in use, the UK pre-decimal system was quite different: > 1 pound divided into 240 pennies (pence). 12 pence make a shilling; two shillings make a florin; 5 shillings make a crown. 1 pound and 1 shilling is a guinea. > > Half a shilling is sixpence; half a crown is 2 shillings and sixpence; half a sixpence is thruppence. A penny was also divided in half (halpenny) and quarter (farthing) - going further back there were halves and thirds of farthings, and groats, which were four pence. > > ETA: Now I noticed you said decimal. Oh well. Deviating from the topic, but this reminds me too much of the greatest footnote of all time, by Gaiman/Pratchett, in Good Omens, to not share: “NOTE FOR YOUNG PEOPLE AND AMERICANS: One shilling = Five Pee. It helps to understand the antique finances of the Witchfinder Army if you know the original British monetary system: Two farthings = One Ha’penny. Two ha’pennies = One Penny. Three pennies = A Thrupenny Bit. Two Thrupences = A Sixpence. Two Sixpences = One Shilling, or Bob. Two Bob = A Florin. One Florin and one Sixpence = Half a Crown. Four Half Crowns = Ten Bob Note. Two Ten Bob Notes = One Pound (or 240 pennies). One Pound and One Shilling = One Guinea. The British resisted decimalized currency for a long time because they thought it was too complicated.” [Previous page](https://boards.straightdope.com/t/currency-1-2-and-5/972035.md?page=1)