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In the fledgling United States the most popular standard of value was the Spanish
silver dollar and its fractional pieces of eight, however, English coins of pounds,
shillings and pence were also widely accepted. Since each state valued the Spanish
coins differently in relation to English money, the rate of exchang was confusing
and frustrating and what your money was worth depended upon where you were. In an
attempt to stop the confusion and standardize the currency Congress passed the Mint
Act of April 2, 1792. That Act provided that ". . . the money of account of the
United States shall be expressed in dollars or units, dismes or tenths, cents or
hundredths, . . . a disme being the tenth part of a dollar...etc."
Based upon the weight and metal content, the gold ten-dollar piece had approximate
the same value as a British double guinea. The silver dollar would correspond to
the Spanish eight reales. The copper cents was roughly equivalent to the English
halfpenny.
It is arguable that the 1792 half dismes, the silver-center cents, or the Birch
cents were the first coins struck by the United States. They were made by mint officials,
but they were more in the nature of Proofs. The first regular coins struck for circulation
by the federal government on its own machinery and within its own premises were the
36,103 Chain cents struck in the first twelve days of March of 1793.
- Flowing Hair
- Type 1 (1793)
- Type 2 (1793)
- Type 3 (1793)
- Liberty Capped
- Type 1 (1793)
- Type 2 (1794-1796)
- Draped Bust (1796-1807)
- Classic Head (1808-1814)
- Coronet Head (1816-1839)
- Braided Hair (1839-1857)
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A pocket full of pennies (or cents) wasn't very much if you use the large cents.
Sparked by the widespread use of tokens, the idea of fiduciary coinage, based on
the trustworthiness of the issuing authority, not on the coin's intrinsic value,
was beginning to catch on. Large Copper coins were on their way out, they were too cumbersum.
It was the large numbers of small Spanish colonial silver coins that were still
in use that convinced congress of the need for smaller coins.
The coinage law of February 21, 1857 gave Snowden the means to perge the halls of commerce
of foreign coins. In addition to abolishing the half cent, the law also specified that
the new cents would weigh 72 grains and be composed of 88% copper and 12% nickel, and
that they were redeemable for the old copper cents and half cents.
- Flying Eagle (1856-1858)
- Indian Head
- Type 1 (1859)
- Type 2 (1860-1864)
- Type 3 (1865-1909)
- Lincoln Cent
- Type 1 (1909)
- Type 2 (1909-1942) (1945-1958)
- Type 3 (1943-1944)
- Type 3 (1959-2009)
- Type 4 (2009)
- Kentucky Childhood (2009)
- Formative Years (2009)
- Professional Life (2009)
- The Presidency (2009)
- Type 5 (2010 - )
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