Did You Know: Ask Our Experts

Have a question about anything numismatic? Send it to Dave Bowers by e-mail and he will answer or will tap the talent of another staff member to do so. Questions of the most general interest (in our opinion) will be answered here, with just the sender’s initials.

Question: I wonder if you have ever come across an old-time advertisement that listed a price for a half cent, such as 3½ cents? What exactly was the usefulness of the half cent? There must have been some transactions that involved them because a great number of them are well worn. G.S.

Answer: With regard to things being priced at a half cent, in the early 19th century a popular coin in circulation was the Spanish one-real coin, known as a “bit,” valued at 12½ cents. Two of these, valued at twenty-five cents, were called “two bits,” a term still seen today. It was not unusual for admissions to be priced at 12½¢ or 37½¢, or some other odd figure. A copper half cent provided a way to make change. However, half cents were never particularly popular in circulation, as a lot of transactions were simply rounded off and the odd half cent ignored.

It is a little known fact that numismatic auctions were often conducted in cents, for inexpensive items. Thus a lot might be sold for 12½ ¢. However, this was always rounded off on the sales invoice.