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"The First American Coins" **movie**

Started by WoodenJefferson,

18 posts in this topic

bsshog40

bsshog40

Posted
Posted

Never seen one here either. As small as they were, it would be a miracle if any survived. If those pieces got the name of 2 bits, I wonder how the quarter ended up with the nickname?

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DC Dawg

DC Dawg

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Never seen one here either. As small as they were, it would be a miracle if any survived. If those pieces got the name of 2 bits, I wonder how the quarter ended up with the nickname?

 

The coin was cut up into 8 pieces, called bits, thus the name pieces of eight. Two bits is one-fourth or one-quarter of a coin, whose real name was the Spanish Milled Dollar. Two-bits is a quarter of a dollar, thus the nickname.

 

Remember the cheer: Two-bits, four-bits, six-bits, a dollar...

 

The saying "you ain't worth two bits" was from this era when tavern drinks were sold by the bit. There were two-bit taverns and one-bit taverns. The saying came about when a patron felt cheated on his two-bit drink and felt the drink was either watered down or of bad quality. Needless to say, this caused a lot of fights.

 

The reason why the US struck half-cents was because of the bit being worth 12 1/2 cents. The government thought it was proper to be able to give exact change.

 

I have seen a bit on sale on eBay. It was certified by either NGC or PCGS--I don't remember.

 

Scott hi.gif

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rbrown4

rbrown4

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Scott,

 

I am certainly not very knowledgeable with "two bit" pieces etc. but is it also true that 4 Reale pieces were called two bit pieces? My father refers to these and at one time carried a 4 Reale coin in his pocket which he called his "two bit lucky coin." Interesting enough it is now underneath the seat of his car and we have not been able to retrieve it in over 12 years.

 

Thanks,

 

Rey

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DC Dawg

DC Dawg

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Rey:

 

Sorry... the quarter of a the milled dollar--eight reals--is two bits. The four real coins were too small to cut. I can't find the story online (I will have to copy the paper) but the eight reals were the ones that first travelled to the colonies to be used in trade. It was easier to carry full dollars than the subsidiary coinage. The subsidiary coinage did not make it to the colonies until the mid-18th century from Mexico... but that was sporadic given the border skirmishes between settlers (remember, at that time Florida was part of the Spanish empire).

 

Cutting the milled dollar was easier than using the subsidiary coinage that England allowed to circulate in the colonies. To try to "control" the colonies, England only allowed copper coinage to circulate. It was common to see, mainly the poor, using half-pennies, pennies, two pence, and some nickel six pence coins. Anything more than that, the colonies used foreign coins with the milled dollar or pillar dollar being the most prominant.

 

I hope that helps.

 

Scott hi.gif

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rbrown4

rbrown4

Posted
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stooges.gif

 

Irvin,

 

Between you and Woody tonight with his method of preservation for wooden nickels, on these forums, we just gotta smile out here.

 

Thanks,

 

Rey

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rbrown4

rbrown4

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Here is a 1786 8 Reale Piece.

 

Scott or others, through what years was the 8 Reale Piece sometimes referred to a two bit piece?

 

Rey

 

17868RealeObv.jpg17868RealeRev.jpg

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