United States coinage
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Circulating United States currency currently includes six denominations of United States coinage: $0.01, $0.05, $0.10, $0.25, $0.50 and $1.00. All are produced by the United States Mint, which sells them to the Federal Reserve Banks, which are responsible for putting coins into circulation and withdrawing them from circulation, as demanded by the country's economy.
Contents
Coins currently in circulation
| Value | Obverse | Reverse | Common Reference | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Abraham Lincoln (since 1909) | wheat (1909–1958) Lincoln Memorial (1959–present) | Penny, Cent | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| .05 | Thomas Jefferson (since 1938) | Monticello (1938–2003) Westward Journey Series (2004–2005) Monticello (since 2006) | Nickel | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| .10† | Franklin D. Roosevelt (since 1946) | Torch, oak branch, olive branch (since 1946) | Dime | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| .25† | George Washington (since 1932) | Perched Bald Eagle (1932–1998)‡ State Quarter Series (1999–2008) | Quarter | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| .50† | John F. Kennedy (since 1964) | Great Seal of the United States surrounded by 50 stars (since 1964)‡ | Half Dollar, 50-Cent piece | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| .00 | Dwight D. Eisenhower (1971–1978) | Bald Eagle on Moon (Apollo 11 Mission Insignia) ‡ | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Susan B. Anthony (1979–1981; 1999) | Bald Eagle on Moon (Apollo 11 Mission Insignia) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Sacagawea (since 2000) | Bald Eagle in flight | Gold(en) dollar |
†: Dimes and quarters from before 1965 and half-dollars from before 1971 generally don't remain in circulation, due to being removed for their silver content. The half-dollar retained a lower silver content between 1965 and 1970
‡: In 1975 and 1976 bicentennial coinage was minted. Coins were dated 1776-1976. The quarter featured a Colonial Drummer, the half dollar Independence Hall, and the dollar coin featured the Liberty Bell superimposed on the Moon.
Bullion coins
Non-circulating bullion coins are also produced by the United States Mint. The face value of these coins is symbolic and does not actually reflect the value of the precious metal contained in these coins.
American Silver Eagles contain 999 fine silver.
- $1, one troy ounce (~31.1 grams) silver
American Gold Eagles contain 916 fine gold (22 karat).
- $5, 1/10 troy ounce (~3.11 grams) 22 karat gold
- $10, 1/4 troy ounce (~7.78 grams) 22 karat gold
- $25, 1/2 troy ounce (~15.6 grams) 22 karat gold
- $50, one troy ounce (~31.1 grams) 22 karat gold
American Platinum Eagles contain 999.5 fine platinum.
- $10, 1/10 troy ounce (~3.11 grams) platinum
- $25, 1/4 troy ounce (~7.78 grams) platinum
- $50, 1/2 troy ounce (~15.6 grams) platinum
- $100, one troy ounce (~31.1 grams) platinum
- $50, 1 troy ounce 24 karat gold
Note: 1 troy ounce = 31.1034768 grams.
Obsolete denominations
- Half cent
- Two-cent piece
- Three-cent piece (silver and nickel varieties)
- Half dime
- Twenty-cent piece
- Gold one dollar coin
- Two-and-one-half dollar coin or "quarter-eagle"
- Three-dollar coin
- Four-dollar coin or "Stella" (not circulated)
- Five-dollar coin or "half-eagle"
- Ten-dollar coin or "eagle"
- Twenty-dollar coin or "double eagle"
- Fifty-dollar coin or "Half Union" (Commemorative only, California territorial gold, pattern piece)
Note: It is a common misconception that "eagle"-based nomenclature for gold U.S. coinage was merely slang. This is not the case. The "eagle," "half-eagle" and "quarter-eagle" were specifically given these names in the Coinage Act of 1792. Likewise, the double eagle was specifically created as such by name ("An Act to authorize the Coinage of Gold Dollars and Double Eagles", title and section 1, March 3, 1849).
- $50, 1 troy ounce 24 karat gold
Note: 1 troy ounce = 31.1034768 grams.
Obsolete denominations
- Half cent
- Two-cent piece
- Three-cent piece (silver and nickel varieties)
- Half dime
- Twenty-cent piece
- Gold one dollar coin
- Two-and-one-half dollar coin or "quarter-eagle"
- Three-dollar coin
- Four-dollar coin or "Stella" (not circulated)
- Five-dollar coin or "half-eagle"
- Ten-dollar coin or "eagle"
- Twenty-dollar coin or "double eagle"
- Fifty-dollar coin or "Half Union" (Commemorative only, California territorial gold, pattern piece)
Criticisms
Uniquely for a major currency, the value of U.S. coins is not inscribed on them in numerals. Instead, the value is written in English words, presenting potential difficulties for visitors to the country who do not speak the language well. Furthermore, the coins' inscriptions do not follow a consistent pattern of describing the value in cents: "One Cent" (penny), "Five Cents" (nickel) "One Dime" (worth 10 cents), "Quarter Dollar" (worth 25 cents), and "Half Dollar" (worth 50 cents).For historical reasons, the size of the coins does not increase consistently with their face value. Both the one cent (penny) and the five cent (nickel) are larger than the dime, worth ten cents, and the less common 50-cent coin is larger than the recent Sacagawea and Susan B. Anthony dollar coins. The sizes of the dime, quarter, and half dollar are holdovers from before 1965, when they were made from 90% silver; (the half dollar was struck in 40% silver clad until 1970. Beginning in 1971 it has been struck in the same cupro-nickel clad as the dime, quarter, and new Eisenhower dollar) their sizes thus depended upon the amount of silver which cost their respective values, and this helps explain why the dime is the smallest of the coins. The current diameter used in dollar coins was introduced in 1979 with the Susan B. Anthony dollar, so their size was not dependent upon silver, and was thus chosen somewhat arbitrarily, with no relation to the Eisenhower dollars which were the same size as the Peace and Morgan silver dollars used earlier in the 20th century.
Many object to the low values and cumbersome sizes of U.S. coins, as unlike other First World nations, the U.S. has never adjusted the basic scheme of its coinage to accommodate the many-fold inflation of the past century. Historically coins were intended to be a convenient form of money for making a wide variety of small, day-to-day purchases, and still function this way in Europe.
See also
| Obsolete United States Currency and Coinage |
| Topics: United States coinage | United States dollar | History of the United States dollar | Large denominations of currency |
| Currency: Compound Interest Treasury Note | Demand Note | Federal Reserve Bank Note | Gold Certificate | Interest Bearing Note | National Bank Note | National Gold Bank Note | Refunding Certificate | Silver Certificate | Treasury or 'Coin' Note | United States Note |
| Coins: Half Cent | Large Cent | Two-Cent Piece | Three-Cent Piece | Twenty-Cent Piece | Trade Dollar |
| Gold Coins: Gold Dollar | Quarter Eagle(.50) | Three-Dollar Piece | Half Eagle() | Eagle() | Double Eagle() |
External links
- [United States Mint]
- [United States Virtual Coin Museum]
- [Page of 1792 Mint and Coinage Act] (Describes the first completely regulated U.S. coinage system.)
- [What have they done to our coins?] - An article visually exploring recent changes to U.S. modern coin designs.
- [Metal detecting for collectible coins] - How to find historic coins with a metal detector.
| United States currency and coinage |
| Topics: Federal Reserve Bank | Federal Reserve Note | United States dollar | United States Mint |
| United States currency: | | | | | | 0 | Fake denominations |
| United States coinage: Cent | Nickel | Dime | Quarter | Half Dollar | Dollar |
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