Copper cents and half-cents 1 1

[RWB]

As with gold dollars, members' thoughts would be appreciated for the following quote.

"Like gold one-dollar coins, two-cent pieces were a new denomination requiring Congressional approval. But consideration of its adoption was complicated by debate over size, weight, and proposals  to make the coin from adulterated alloy known as billon. This ancient monetary deception was used to convince the public that the government was producing full-value silver coins, while actually producing base metal pieces with a thin silver coating. Many hard money advocates thought billon was good because it packed more silver value into a smaller coin. This, it was argued, would improve convenience while maintaining full specie value in small denomination coins. Rather than try to maintain something close to one cent worth of copper in a “cent” and have a large heavy coin, a billon cent could be much lighter and smaller yet still be worth a cent in metal.[1]

            "Trapped within theoretical and practical forces, American financial, business, and political leaders continued to hunt for a solution that remained mockingly unseen before their eyes."

 

Edited May 17, 2021 by RWB

[Henri Charriere]

I have difficulty conceiving of an alternative to the traditional copper two-cent piece I have come to be familiar with and have grown to love though I do not presently own any.

[RWB]

This was 1836-37.

[Henri Charriere]

On 5/16/2021 at 11:31 PM, RWB said:

This was 1836-37.

Well now... That changes everything, doesn't it?  Is it safe to say billon, was pronounced bee-Y'OWN?

[RWB]

US pronunciation was evidently "bill - on."

[Just Bob]

In the proposal to make a billon two cent piece, were suggested dimensions and weight ever given? 

[RWB]

11 hours ago, Just Bob said:

In the proposal to make a billon two cent piece, were suggested dimensions and weight ever given? 

"The director (Patterson) calculated that using ten percent silver would produce a billon two-cent coin weighing 61.94 grains. But that the mint would make no profit, and would lose money when all the other operations were added. For the mint to make a twenty-five percent profit – less than on current copper coins – and excluding labor, a two-cent piece would have to weigh 23.23 grains."

Billon minor coins were a "hard money" idea. It would have all coins made for metal equal to the face value of the coin.