Why Is a Nickel Bigger Than a Dime?

[BULLY]

...You'll Have to Go Back to 1866 For the Answer.

 

For Presidents Day, Test Your Money IQ:

 

http://money.aol.com/news/articles/_a/for-presidents-day-test-your-money-iq/20080214160609990001

 

 

In this group, honestly, I don't think the questions are very difficult at all. In fact, you will probably notice the same mistakes I did, despite scoring 100% myself . 8 out of 8 score. I even knew the Grover Cleveland question, WITHOUT looking it up!

 

 

Enjoy!

 

 

 

 

 

[WoodenJefferson]

Way back in 1793, when the first U.S. coins were produced, the U.S. Mint did link the sizes of coins to a particular metal standard—the silver dollar.

 

Thanks to the proposal by Thomas Jefferson, the United States settled on a decimal currency system rather than the cumbersome pound sterling system of Great Britain or the awkward denomination system based on the silver 8 reales and gold 8 escudos of Spain.

 

Except for the copper cent, all coins were produced in proportionate metallic content to the dollar, and their sizes were regulated accordingly.

 

The fifty-cent coin contained one half (1/2) as much silver as the dollar (100)

 

the quarter had one fourth (1/4) as much

 

the dime or ten-cent coin had one tenth (1/10) as much

 

The five-cent coin, or half-dime as it was called then, had only one-twentieth (1/20) the silver as the dollar

 

But it was so small (see dimentions) that it was difficult for people to handle. So in 1866, Mint officials decided to make it larger by changing its content from silver and copper to a combination of copper and nickel ~walaa~ the modern size nickel was born.

 

Dimentions:

 

half-dime diameter 15.5 mm converted to inches = .6102 wt. 1.35 g average wt.

 

dime diameter 17.9 mm converted to inches = .7047 wt. 2.5 g

 

nickel diameter 20.5 mm converted to inches = .8071 wt. 5.0 g

 

Another theory involves the Civil War, which I find more appropriate than a simple decision on the part of mint officials with big fingers.

 

The tide turned against the half dime during the Civil War, when all U.S. coinage – but particularly coins with precious-metal content – vanished from circulation, ending up either abroad or in hoarders’ hands. In 1866, as part of its effort to re-seed U.S. commerce with federal coinage, the Mint introduced a new five-cent piece made from an alloy of 75-percent copper and 25-percent nickel – the coin now known as the “Shield nickel.” Despite its bland design and its lack of intrinsic value relative to the half dime, this new coin won immediate public acceptance.

 

The half dime remained in production through 1873, but the handwriting on the wall was clearly a parting message: “So long, old girl, it’s been good to know you all these years!” The closing years witnessed some of the lowest mintages since the very earliest years of the half dime’s run. These included outputs of 10,725 in 1866, and 8,625 in 1867 at the Philadelphia Mint and – in the biggest show-stopper of all – just one specimen in 1870 at San Francisco.

 

 

 

[cpm9ball]

Because it would have been too small for the old crank-handled Coke machines.

 

Chris

[rrantique]

Because it would have been too small for the old crank-handled Coke machines.

 

Chris

 

Great post Woody.

[BULLY]

Way back in 1793, when the first U.S. coins were produced, the U.S. Mint did link the sizes of coins to a particular metal standard—the silver dollar.

 

Thanks to the proposal by Thomas Jefferson, the United States settled on a decimal currency system rather than the cumbersome pound sterling system of Great Britain or the awkward denomination system based on the silver 8 reales and gold 8 escudos of Spain.

 

Except for the copper cent, all coins were produced in proportionate metallic content to the dollar, and their sizes were regulated accordingly.

 

The fifty-cent coin contained one half (1/2) as much silver as the dollar (100)

 

the quarter had one fourth (1/4) as much

 

the dime or ten-cent coin had one tenth (1/10) as much

 

The five-cent coin, or half-dime as it was called then, had only one-twentieth (1/20) the silver as the dollar

 

But it was so small (see dimentions) that it was difficult for people to handle. So in 1866, Mint officials decided to make it larger by changing its content from silver and copper to a combination of copper and nickel ~walaa~ the modern size nickel was born.

 

Dimentions:

 

half-dime diameter 15.5 mm converted to inches = .6102 wt. 1.35 g average wt.

 

dime diameter 17.9 mm converted to inches = .7047 wt. 2.5 g

 

nickel diameter 20.5 mm converted to inches = .8071 wt. 5.0 g

 

Another theory involves the Civil War, which I find more appropriate than a simple decision on the part of mint officials with big fingers.

 

The tide turned against the half dime during the Civil War, when all U.S. coinage – but particularly coins with precious-metal content – vanished from circulation, ending up either abroad or in hoarders’ hands. In 1866, as part of its effort to re-seed U.S. commerce with federal coinage, the Mint introduced a new five-cent piece made from an alloy of 75-percent copper and 25-percent nickel – the coin now known as the “Shield nickel.” Despite its bland design and its lack of intrinsic value relative to the half dime, this new coin won immediate public acceptance.

 

The half dime remained in production through 1873, but the handwriting on the wall was clearly a parting message: “So long, old girl, it’s been good to know you all these years!” The closing years witnessed some of the lowest mintages since the very earliest years of the half dime’s run. These included outputs of 10,725 in 1866, and 8,625 in 1867 at the Philadelphia Mint and – in the biggest show-stopper of all – just one specimen in 1870 at San Francisco.

 

 

 

I think this post wins the door prize...

 

Being the high financed bunch that we are, notice the icon of my reply here, and...look now:

 

[WoodenJefferson]

[braddick]

For the same reason the 3c nickel is larger than a quarter?