Wednesday, May 22, 2013

What does “two-bits” mean?

Two-bits is American slang for a U.S. quarter dollar or Spanish-American 2 real coin.

Until the late 1850s, Spanish-American coins were legal tender in the United States. By far the leading specie coin circulating in America was the Spanish silver dollar worth 8 reals, or equal to about one U.S. dollar.

The dollar was divided into "pieces of eight," or "bits," each consisting of one-eighth of a dollar. A one bit coin (or 1 real) was valued at 12½¢. Hence, the term two-bits referring to a 2 real coin or one U.S. quarter dollar.


2 Comments:

At 11:09 PM, Blogger Layne Adams said...

Hello there, I was looking for coins boston and I came across your blog, very informative and entertaining, it shows that your an expert in your field.
I will definitely be back for more. Keep it up!
Cheers!

 
At 9:48 AM, Blogger Thiago daLuz said...

One of my friends collects rare coins in Cincinnati and he tried to explain this to me once, but I didn't get it. This makes a lot more sense. Thanks for sharing!

 

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