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<p>[QUOTE=&quot;harley bissell, post: 2935451, member: 88212&quot;]Until 1856 all foreign coins circulated as legal tender in the United States.</p><p>The old trope two bits - four bits - six bits - a dollar referred to the practice</p><p>of cutting Mexican and Spanish 8 real coins into bits. A 1/8 bit was equal</p><p>to 12 1/2 cents. With all of those fractional bits in circulation there was</p><p>less need for American quarters. During the redemption period circa</p><p>1855 - 1856 larger numbers of quarters were needed to replace the</p><p>foreign coins and bits. Whether my knowledge matches the exact</p><p>process I&#039;m reasonably sure that what I said was the general story.[/QUOTE]</p><p><br /></p>

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