Five-Cent Faceoff: The Evolution Of The Half Dime To The Nickel

Numismaster - At the present time, there is little doubt that the quarter dollar is the most commonly used United States coin. If the same question had been asked in the United States between the 1830s and the early 1900s, however, the answer would likely have been the five-cent piece. Yet the answer would have meant two different coins, depending upon just when the question was asked.



It all began in the 1820s.

The original 1792 coinage law had mandated the mintage of silver Half Dismes, but very few were actually made in the early years because the Spanish half real, worth 6.25 cents, was relatively common in this country and was very close in value to the Half Dime. ( Half Dime coinage was suspended in 1805 due to lack of demand.)

In popular terminology, the half real was called a half bit, the bit being the Spanish piece of one real. (One wonders if there is anyone who has not heard high school cheerleaders shouting: "Two bits, four bits, six bits, a dollar, all for [name of team], stand up and holler.")

As early as 1820, Mint officials were seriously considering the resumption of Half Dime coinage, but for unknown reasons the idea was shelved for several years. Chief Engraver Robert Scot may even have prepared new dies at that time.

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