WEEK #381 COINSIDER THIS....

[LISA B]

QUESTION:

 

Why did the Mint Act of 1792 include a quarter dollar in what was supposed to be a purely decimal system?

 

Our first place winner will receive [font:Century Gothic]A GUIDE BOOK OF GOLD DOLLARS[/font].

 

There will also be a runner up prize given to a randomly selected player with the correct answer.

 

REMINDER: The Numisma-Quest ends on Saturday at midnight EST. Entries after that time will not be valid. See the Trivia info post for more details.

 

When you post your answer, only the administrators can see it. Stop back this Monday. We will make all the posts visible and announce the winners.

 

[Schatzy]

Due to its size, many numismatists believed that the piece was intended as a half eagle or a cent.

[physics-fan3.14]

Because the conversion from the Spanish coins currently in circulation would not have been easily handled with a pure decimal system. The quarter could easily convert two "bits" or cut pieces of the Spanish dollar, with each bit being worth 12.5 cents.

[bsshog40]

The quarter dollar was stipulated in the act because it was accomodating for the "two reales" that were equal to a quarter dollar that were already circulating through-out America.

[ritter]

to pay 5 days wages(2.50) to the employees of the u.s. mint.

[walt666-migration]

The Dollar was equivalent to the Spanish Milled Dollar, which was easily cut into 1/8's (bits, 12.5c). A Quarter Dollar made more sense, was equal to 2 bits in commerece, more acceptable in everyday transactions than a decimal coin, say a 20c piece.

Walt

[namvette68]

It had something to do with the weight of the silver content. A Quarter had 5 times the silver as a nickel. The half dollar was 10 times the weight of silver....etc. I believe the silver weight was the decimal determination.

[dan8402]

Because the US Dollar at the time was to be based upon the Spanish dollar (pieces of eight). Therefore, the US Quarter Dollar would be a suitable substitute for two of these pieces of the Spanish Dollar.

[LISA B]

QUESTION:

 

Why did the Mint Act of 1792 include a quarter dollar in what was supposed to be a purely decimal system?

 

Answer: One of the most common coins circulating in the USA then was the two-reales piece, valued at one quarter Spanish dollar

 

Congratulations to Bsshog40 for being this week’s winner

 

and Congrats to Walt666 for being our runner up……

 

Please stop by this Friday for the PMG Numisma-Quest question

 

[physics-fan3.14]

How did Bsshog40 win when he didn't even enter this week?