1 Answer
The term persists colloquially in the United States as a holdover from colonial America when Spanish dollars minted in Mexico, Bolivia and other Spanish colonies were the widest circulating coin. Spanish dollars were deemed equivalent in value to a U.S. dollar. Thus, twenty-five cents was dubbed "two bits," as it was a quarter of a Spanish dollar. Because there was no one-bit coin, a dime (10c) was sometimes called a short bit and 15c a long bit.
Even the New York Stock Exchange continued to list stock prices in eighths of a dollar until June 24, 1997 (at which time it started listing in sixteenths, but later going to decimals in 2001).
12 years ago. Rating: 0 | |
Top contributors in Uncategorized category
Unanswered Questions
Game bài đổi thưởng - thiên đường trò chơi hấp dẫn hàng đầu Châu Á
Answers: 0
Views: 7
Rating: 0
i9betmobilecom
Answers: 0
Views: 6
Rating: 0
i9betmobilecom
Answers: 0
Views: 6
Rating: 0
Game bài đổi thưởng - thiên đường trò chơi hấp dẫn hàng đầu Châu Á
Answers: 0
Views: 8
Rating: 0
duabibuzz
Answers: 0
Views: 11
Rating: 0
Abcjili is an online casino in the Philippines that offers many games from service providers, such as slots games, live casino, fishing games
Answers: 0
Views: 9
Rating: 0
¿Quieres lucir genial en Fortnite?
Answers: 0
Views: 15
Rating: 0
jilievoorgph
> More questions...
Answers: 0
Views: 14
Rating: 0