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 Replies: 11 / Views: 1,125 |
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Pillar of the Community
United States
3077 Posts |
why is a dime smaller than a nickel?
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Moderator
 Australia
16826 Posts |
For several reasons. Once upon a dime, people expected that the intrinsic or metal value of a coin would be not too different from it's actual face value. Back then, dimes were made of silver, and nickels were not. People expected to receive a couple of sizeable pieces of cupronickel in exchange for their silver dime. Secondly, your current-sized "nickel" 5 cents replaced the silver half-dime, which people considered to be inconveniently small - they were too easy to lose, and 5 cents was a lot of money to lose back then. Replacing the tiny silver coin with a cupronickel coin that was just as tiny would have been pointless. Thirdly, when the 5 cents was first introduced it had to be significantly larger than the cupronickel 3 cent coin, which was also introduced at around the same time, otherwise you'd have had people confusing them, just like people were confused with the whole 20 cent / quarter dollar thing. All these reasons are very good reasons why the nickel used to be bigger than a dime 150 years ago. All these reasons are now outdated; the current sizes of US coinage are an anachronism that's well past due for a complete overhaul. Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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Pillar of the Community
 United States
3077 Posts |
thanks I figgered it had to do w/ composition
do you think we will ever change it?
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Pillar of the Community
United States
3294 Posts |
Eventually if they are not canceled I suspect they will change to either Aluminum of some kind of coated steel.
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Moderator
United States
23522 Posts |
Tradition, from the days when the coin's bullion value was equal to its' monetary value. In the beginning, nickels (then called half-dimes) were even smaller than dimes; each contained the proper amount of silver for the value. During the Civil War, silver and gold coinage was hoarded. Fractional Currency was the first solution, but that had its' own intrinsic problems. Needing to have coins in circulation, the Mint came up with the Shield nickel, the first non-silver Minor (aside copper) whose nickel composition was intended not to be hoarded. The coin's lower metal value dictated a larger size. From that point onward, Cents were copper, 5 Cents were nickel, and everything else was silver (until 1964 when it all changed again). Hedging their bets, the Mint continued to produce Half Dimes alongside the new nickel coin for 8 years. Odd, that, but they also made two different 3 Cent pieces for a while. An additional consideration was the influence of Joseph Wharton (for whom the school is named), a nickel-mining baron and a very influential person, politically, at a time when the Mint needed all the patronage it could get. Ironically, Wharton hated the Shield nickel design. |
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Valued Member
United States
213 Posts |
A small observation: Shield nickels are slightly smaller than jeffersons. Jeffersons are the same size as buffalos and liberties. |
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Bedrock of the Community
United States
17884 Posts |
Quote: Ironically, Wharton hated the Shield nickel design. He also disliked the fact that it was coppernickel, or at least that it was only 25% nickel. He originally lobbied for a pure nickel coin. |
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New Member
United States
25 Posts |
wow what a surprise... a nickel baron upset at not creating more demand for his product, and with that in mind is the nickel content what actually gave the nickel it's name?
Edited by Ultvikefan
07/09/2009 3:47 pm
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Pillar of the Community
United States
3077 Posts |
not too sure but I think nickel is an old indian word for five thats why the "e" is before the "l"
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Moderator
Australia
16826 Posts |
No, your "nickel" coins are so named because they contain the element "nickel".
The name for nickel itself is of German origin. In German mythology, "Nickel" was the name of a sprite or gremlin. Mediaeval German copper miners would sometimes encounter ore that looked like copper ore, but when they went to smelt it, no copper came out. They called this ore "kupfernickel", or Nickel's copper, because the gremlin had apparently stolen all the copper out of the ore. When scientists eventually analysed this ore and discovered the element responsible, they named the new element after the ore, and the mythical gremlin.
Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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Pillar of the Community
United States
3077 Posts |
now that is info you just dont learn every day Thank you Sap  |
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Valued Member
United States
129 Posts |
Very interesting Sap. The composition of most of our coins is changing as the cost of the base metal and the cost of manufacturing increases, and the coin costs more to produce than it is worth.... I expect the same will happen with the nickel and it will go to some kind of clad or plated composition. It amazes me that it is still more cost efective to make and use metal coins than it is to use paper money...apparently because of the longevity.
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Replies: 11 / Views: 1,125 |
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Posted 07/09/2009 10:30 am
