Anya ,'Showtime'
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"Two bits" comes from the Spanish dolares (doubloons), which were big fat silver coins (of fairly reliable purity) that were easily cut into halfs, quarters, and eighths -- if an eighth was 'a bit' then a quarter was 'two bits.'
(One time when I was at Old Sturbridge Village, the "banker" on duty was an old coin buff who hauled out all the demo coins to show how this worked.)
I'm pretty sure "bits" came from cutting an old Spanish dollar into eight pieces. Which is why eight bits are a dollar. All the proverbs I know with bits in them always have them in even multiples anyway; "Putting your two bits in", as well as "Two bits, four bitx, six bits, a dollar".
[X-post with Theodosia]
Mmmmm...Old Sturbridge Village.
t /Homer
(Edited to add fake tag, which didn't add the first time.)
However, many elderly people still, to this day, 'think' in the former-former coin, the Lira.
I ran across a number of supremely crotchety older folk in France who would count in old Francs, but only when they were complaining about prices -- i.e., "I can't believe they can get away with charging 100,000 a month for this apartment!" If they got a bargain it was always in new Francs.
The latest coinage of guineas took place in 1813; the sovereign, of the value of 20s., was first issued in 1817.
HUH. A sovereign is a pound, then. Learn something new...
The U.S. definitely minted half-cents. [link]
I'm pretty sure "bits" came from cutting an old Spanish dollar into eight pieces. Which is why eight bits are a dollar
Also the source of "pieces of eight."
Is the cutting it into pieces thing where they get "Pieces of Eight" from too?
The Spanish dollar coin was huge -- think much bigger than a quarter or a Suzy B or a Sacajawea. Bigger than the old American silver dollar coin. So the cutting into pieces was much easier than if they'd been dime-sized.
I know about marks (which didn't exist but were counted). As well as groats (value 4 pence), angels (value 80 pence - which was 6 shillings and 8 pence) , nobles (also 80 pence), rose nobles (120 pence - which would be half a pound - but everybody counted in marks, which were 2/3 of a pound).
WHOA.