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<p>[QUOTE=&quot;Conder101, post: 140495, member: 66&quot;]The word has its roots in the British coinage but the use of the term penny for our cent actually comes from the New York money of account where the New York penny was valued at 1/90th of a Spanish miled dollar.&nbsp; This made it the closest in value money in use in North America at the time the US Cent was legislated.</p><p><br /></p><p>It would not have made sense to equate the cent with the British penny since it did not exist.&nbsp; The value of the cent was fairly close to the British HALF PENCE and not the penny, and the British had not even struck a penny coin for circulation for over 150 years, and the last one they did was a silver coin.[/QUOTE]</p><p><br /></p>

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