One Penny Note August 6, 1789 :kewl::hail:www.richmondfed.org click on education info then Money Museum HAVE FUN Bank of North America One-Penny Note, August 6, 1789
Coins of the United States A one-cent piece authorized by the Continental Congress in 1787 was the first official U.S. coin. Its design, attributed to Benjamin Franklin, featured a sundial, the motto Fugio (I fly), and the admonition, "Mind your business."
Massachusetts Threepence, 1652 Massachusetts Pine Tree Coins The famous "Pine Tree" coins of Colonial days were products of the mint established in Boston, Massachusetts, in 1652. Despite England’s prohibition of coinage in the colonies, the mint operated until the mid-1680s, when it was closed by order of Parliament.
Am I getting old or what? One ninetiethith of a dollar is not a penny. A penny (cent) is one hundredth of a dollar. 1/90 or one ninetieth is in reality 0.0111111111111111111111111111111111111111111 of a dollar rounded off that is. :hammer::hammer:
No, you are not getting old. Did you look in the website I posted? I found this, copied and paste to the forum. I had to look at it agian, you are right but on the side of the note is ONE PENNY SPECIE(right) left ONE PENNY. Cheryl
Cheryl... This should be in the Paper Money Thread/Fourm... 1/19th is closer to 5 cents....or 5.362 cents RickieB
Rickie, I put it here for people to see all the money from the Richmond bank of Virginia. I did posted it the thread- paper money. Cheryl
Actually you are not old enough. Back before the ratification of the Constitution and before before the Mint act that defined the relationship of our coins, each state defined its own local "money of account" with it's own relationships between denominations. In New York the penny was defined as one nintieth of a spanish milled dollar and since New York was the major economic state it tended to have a lot of influence on the economies of the other states and most everyone would be familier with the New York money of account. In fact that is why the cent came to be commonly called a penny because it was very close in value to the New York penny. The slang term did NOT come from the British penny which was worth more than twice what the cent was worth. (And at that time there had not been a british penny minted for over a hundred years, and it was a small thin silver coin not a copper one.
Now that is interesting. Now that you brought that up I went back and looked at the date on that thing. 1789 sure was a long time ago. I was thinking in modern terms. Old age problems.
