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At one time coins contained metal that was worth as much as the denomination of the coin, minus a small profit for the government or agency that made the coins. For example, old US cents contained a cent's worth of copper, dimes had 10¢ worth of silver, a quarter-eagle had $2.50 worth of gold, and so on.
Because different metals have different values, the coins' sizes were determined by the value of the particular metal they were composed of. That's why, for example, that pennies are larger than dimes - when the penny was copper and the dime was silver, silver was much more valuable so it took less silver to be worth 10 cents than it took copper to be worth 1 cent.
However, within each type of coin, sizes were proportional. For instance, a half-dollar was twice the weight of a quarter, and a dollar was 10 times the weight of a dime.
When the US took silver out of its coins in the 1960s there was no longer any financial reason to keep coin sizes in proportion, but there were so many vending machines and coin sorters in use that the Mint didn't even consider changing sizes - it would have been too expensive to retrofit all that equipment.
However, when new coins are introduced or a country changes its coinage, proportional sizes are generally no longer used except in certain cases. That's why the new US $1 coins are smaller than half-dollars. And in the EU, where all old coins were replaced in 2002, sizes were chosen for convenience and logic rather than proportionality.
What else can I help you with?
What is the melt value of Nigerian coins?
It depends on what coin you have. Different denominations are different sizes and made of different materials and then have a different melt value.
How much is a UK gold coin from 1958 worth?
Uk gold coins come in various sizes and the value depends on the size.
Will coins of different sizes dropped from the same height fall at the same time?
In a vacuum, they will fall together. Air resistance might have a minor affect on the results.
Have US coins always had the same value as they do now?
No, for silver coins as the value of silver changes the value of the coin changes. The same is true for gold coins.
What is the value of the coins made in 2012?
These coins are very common and are worth face value.
How would someone know how much gold coins are really worth?
The value of gold coins can be determined in two different ways--the melt-down value and the coin value. The melt-down value is the value of the pure gold in the coins, which is determined by the weight. The face value of the coins can be found on a collector's website.
Why are coins different sizes?
Originally coins were different sizes because their values were determined by how much metal they contained. For example, a US dime had roughly 10 cents worth of silver in it, a British sovereign had roughly a pound's worth of gold, etc. People could associate a coin's value with its size, making it easy to tell them apart. Even though circulating coins today don't have any precious metals in them, different sizes still help people to easily distinguish one coin from another without looking at its design or denomination. Having different sizes also facilitates the use of mechanical sorting equipment. Mixed coins are passed through a kind of filter with holes of increasing sizes. The smallest coins drop through the smallest holes first, the next size coins drop through the second set of holes, and so on, and are collected in bins.
How do most countries indicate the value of coins today?
Most countries indicate the value of coins through a combination of visual elements such as numbers, symbols, and images. These visual elements are typically printed or stamped onto the coins themselves to denote their denomination. Additionally, countries may use different sizes, shapes, and colors for coins of varying values to help distinguish them easily in everyday transactions. Lastly, some countries may also include text in the form of words or abbreviations to further clarify the value of the coins.
What sizes are the coins?
Too general a question. Need more information.
What three coins in equal numbers have a value of 27?
10 coins 7 coins and 10 coins
Do gold prices effect the value of gold coins?
Yes. Especially modern bullion coins. Out of all of the coins, pre-1933 US coins historically have lost less of their value due to small fluctuation in the gold price because they sell for a large premium over the gold content in them, especially for some of the older and smaller coins. Coins like modern British Sovereigns, US Gold Eagles and Canadian Maple Leafs are all traded at a small premium over the spot price of gold, usually around $20 so their value is simply the price of all the gold in them plus around $20. Some older common European gold coins have similar price trends.
What is the value a 99 percent silver Coin uncirulated from a Casino?
It depends on how much silver is in it. Casinos use a multitude of different sizes of coins. Take your silver coin, find the weight in troy ounces then multiply it by silver spot price (at the time of writing it is $29.30). Casino coins have very little collector value and any value comes from the silver content in the coin.
