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All Forums Category: US Coins and Currency Forums Forum: US Classic and Colonial Coins

Replacing The Large Cent With The Small Cent: The End Of An Era & Beginning Of A New

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CCFPress
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 Posted 05/07/2020  3:36 pm Show Profile   Bookmark this topic Add CCFPress to your friends list Get a Link to this Message Number of Subscribers
PCGS - The United States one-cent coin was, along with the Half Cent, among the first denominations ever coined by the United States Mint for mass distribution and circulation in 1793. The nation's early one-cent coins are much larger in diameter than those produced since those of the current size and weight debuted in the years just before the Civil War. The one-cent coinage produced from the first days of the United States Mint until 1857 is nearly the size of a modern half-dollar and made from pure copper. These so-called "large cents" live up to their name, measuring as wide as 28.5 millimeters in diameter and the heaviest pieces tipping the scales at weights of 13.48 grams.

Replacing-The-Large-Cent-With-The-Small-Cent:-The-End-Of-An-Era-&-Beginning-Of-A-New

Back in the 1790s and early 1800s, the one-cent coin represented significant purchasing power. According to the United States Bureau of Labor Statistics consumer price index, one cent in 1800 would be worth about 20 cents today. In other words, the relative purchasing power of a one-cent coin back when the denomination was still new approached that of a quarter-dollar today. And quarters remain a critical part of daily commerce. However, inflation was as much an issue in the 19th century as it is today. And by the 1850s, the economic winds had shifted to the point that it took a lot of one-cent coins to buy much of anything. The large copper coin grew unpopular with the public.

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Ballyhoo
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 Posted 05/07/2020  6:24 pm  Show Profile   Bookmark this reply Add Ballyhoo to your friends list Get a Link to this Reply
That '57 is a stunner! Nice choice for the topic.
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Coinfrog
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 Posted 05/07/2020  6:52 pm  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
Thanks for that, most interesting.
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sel_69l
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 Posted 05/07/2020  7:36 pm  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
An average inflation rate of 1.4% per year will result in a 20X increase in face value over 220 years 1800-2020.

That is, one Cent in 1800 will have a buying power of 20 cents in 2020.

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MrPink2018
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 Posted 05/07/2020  10:00 pm  Show Profile   Bookmark this reply Add MrPink2018 to your friends list Get a Link to this Reply
thanks for posting, shared that with a number of ppl.
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Quote:
That is, one Cent in 1800 will have a buying power of 20 cents in 2020.
One cent in January 1913 had the buying power of 26 cents in March 2020.

https://data.bls.gov/cgi-bin/cpical...year2=202003


This site says a cent in 1800 would buy what $1.52 buys today.

https://westegg.com/inflation/

Coin Collector Since 1978Replacing-The-Large-Cent-With-The-Small-Cent:-The-End-Of-An-Era-&-Beginning-Of-A-NewAvatarReplacing-The-Large-Cent-With-The-Small-Cent:-The-End-Of-An-Era-&-Beginning-Of-A-NewOld AvatarReplacing-The-Large-Cent-With-The-Small-Cent:-The-End-Of-An-Era-&-Beginning-Of-A-New7070Replacing-The-Large-Cent-With-The-Small-Cent:-The-End-Of-An-Era-&-Beginning-Of-A-NewEisenhowerReplacing-The-Large-Cent-With-The-Small-Cent:-The-End-Of-An-Era-&-Beginning-Of-A-NewAustraliaReplacing-The-Large-Cent-With-The-Small-Cent:-The-End-Of-An-Era-&-Beginning-Of-A-NewCanadaReplacing-The-Large-Cent-With-The-Small-Cent:-The-End-Of-An-Era-&-Beginning-Of-A-NewWorldReplacing-The-Large-Cent-With-The-Small-Cent:-The-End-Of-An-Era-&-Beginning-Of-A-NewCCF Members on eBayReplacing-The-Large-Cent-With-The-Small-Cent:-The-End-Of-An-Era-&-Beginning-Of-A-NewCCF eBay Search Engine
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hfjacinto
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 Posted 05/08/2020  10:55 am  Show Profile   Bookmark this reply Add hfjacinto to your friends list Get a Link to this Reply

Quote:
One cent in January 1913 had the buying power of 26 cents in March 2020.

https://data.bls.gov/cgi-bin/cpical...year2=202003


This site says a cent in 1800 would buy what $1.52 buys today.

https://westegg.com/inflation/


J Buck, these numbers seem much more realistic.

Also great article!
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Wideglide
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 Posted 05/08/2020  2:53 pm  Show Profile   Bookmark this reply Add Wideglide to your friends list Get a Link to this Reply

Quote:
This site says a cent in 1800 would buy what $1.52 buys today.


Yes, this seems more realistic. My dad used to tell me that it cost them 5 cents to go to a Saturday matinee (mid 20's to early 30's), what does it cost today? Heck, I remember buying candy bars for 5 cents when I was a kid in the mid-60's!
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 Posted 05/08/2020  3:58 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply
I am not old enough to remember that, but I am old enough to remember when a payphone was only a dime.

And also old enough to know what a payphone is.
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sel_69l
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 Posted 05/08/2020  6:43 pm  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
I used the info from the OP.
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jbuck
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 Posted 05/11/2020  09:20 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply
Yup, but I quoted you because you more accurately said what they were trying to say.
Coin Collector Since 1978Replacing-The-Large-Cent-With-The-Small-Cent:-The-End-Of-An-Era-&-Beginning-Of-A-NewAvatarReplacing-The-Large-Cent-With-The-Small-Cent:-The-End-Of-An-Era-&-Beginning-Of-A-NewOld AvatarReplacing-The-Large-Cent-With-The-Small-Cent:-The-End-Of-An-Era-&-Beginning-Of-A-New7070Replacing-The-Large-Cent-With-The-Small-Cent:-The-End-Of-An-Era-&-Beginning-Of-A-NewEisenhowerReplacing-The-Large-Cent-With-The-Small-Cent:-The-End-Of-An-Era-&-Beginning-Of-A-NewAustraliaReplacing-The-Large-Cent-With-The-Small-Cent:-The-End-Of-An-Era-&-Beginning-Of-A-NewCanadaReplacing-The-Large-Cent-With-The-Small-Cent:-The-End-Of-An-Era-&-Beginning-Of-A-NewWorldReplacing-The-Large-Cent-With-The-Small-Cent:-The-End-Of-An-Era-&-Beginning-Of-A-NewCCF Members on eBayReplacing-The-Large-Cent-With-The-Small-Cent:-The-End-Of-An-Era-&-Beginning-Of-A-NewCCF eBay Search Engine
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Pacificoin
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Actually a Cent from 1800 is 2.05 in 2020 . Source in2013dollars.com
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05/11/2020 10:24 am
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We just get further and further from the 20 cents originally stated.
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just carl
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 Posted 05/11/2020  2:13 pm  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply

Quote:
Yes, this seems more realistic. My dad used to tell me that it cost them 5 cents to go to a Saturday matinee (mid 20's to early 30's), what does it cost today? Heck, I remember buying candy bars for 5 cents when I was a kid in the mid-60's!

And I remember being lucky to have 5 cents.
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