How and why did the U.S. quarter coin or 25 cents get to be known as two bits?

  1. Paul Kuehn profile image94
    Paul Kuehnposted 5 years ago

    How and why did the U.S. quarter coin or 25 cents get to be known as two bits?

  2. profile image0
    calculus-geometryposted 5 years ago

    A "bit" used to mean 1/8 of a dollar or 12.5 cents. Thus, two bits was 1/4 or a quarter of a dollar.  Although the US never minted a coin that was worth 12.5 cents, the early colonists did use currency from other countries that counted as 1/8 of a dollar.  When the US started producing its own coins, the phrase "two-bit" persisted for a while as a way to describe a quarter.

    1. Paul Kuehn profile image94
      Paul Kuehnposted 5 years agoin reply to this

      Thank you very much for the historical background.

 
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