Small Cents Coins: US Coins & Paper Money

The United States started issuing small cents in the year 1856 or early 1857 for two main reasons. Firstly, the Large Cent had surpassed its content in metal than the coin was actually worth at face value. Also, it was very unpopular to the public, citing that it was too heavy for circulation. Banks and merchants usually only accepted the legal tender, gold and silver, and only accepted large cents when they were heavily discounted below their face value. When it started costing the U.S. Mint $1.06 to produce one dollar of the coin, they were discontinued altogether. Secondly, the United States accepted currency from all countries, especially the English schilling and Spanish real. They wanted to create such legal tender to dissuade citizens from using them.

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