Generally speaking, coins are pieces of metal with a nominal face value. Coins are used to pay for goods or services in exchange for other goods or services. Sometimes, coins are produced for collectors. These collector coins may not have a face value. The value of coins is based on the quality of the coin, the condition of the coin, the value of the metal content of the coin, and the general popularity of the coin.
A coin is typically a small, round piece of metal. Sometimes, coins are made from alloys of different metals. The coin usually has numerals, text, and other design elements on the obverse. Coins also have holes. These holes facilitate storage and carrying of coins. Some coins have wavy edges. These holes also allow coins to be strung on cords.
Many coins are produced by the mint, a government-run entity. The United States Mint is the main producer of coin currency. The United States Mint was created in 1792. Today, coins are minted at Treasury locations in Washington, D.C., and Fort Worth, Texas. A coin is made at the mint when the mint has the government’s consent to produce a coin that is legal tender.
The United States one-cent coin has been in circulation for over 150 years. It is composed of about two cents worth of copper and zinc. The coin’s copper content was reduced in 1982 to reduce its value. In the early years, the United States one-cent coin was larger than the modern dime and quarter. Today, the United States one-cent coin is about the size of a nickel.