Cent (currency)

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In currency, the cent is a monetary unit that equals 1/100 of the basic unit of value. The word also refers to the coin which is worth one cent. In the United States and Canada, the 1¢ coin is generally known by the nickname penny, alluding to the British coin and unit of that name.

Etymologically, the word cent derives from the Latin word centum and is related to the Greek εκατόν (hekaton); both mean hundred. Mints all over the world usually create coins with values up to between the equivalent of 0.1 ~ 10 U.S. dollars, while reserving banknotes for higher values. As inflation lowers the value of currencies, many have replaced the lowest-valued banknotes with coins (Canadian dollar, Australian dollar, pound sterling, Euro), removed the lowest-valued coins from circulation, and/or introduced higher-valued bills. The U.S. dollar is a notable holdout, using a $1 bill where all other industralized nations use a coin for the approximate equivalent value.

Cent amounts between 1 cent and 99 cents are often indicated by the one or two digits followed by the cent sign, a lower-case letter c pierced top to bottom by a forward slash or a vertical line: ¢ (2¢, 99¢). Where the cent sign is not used, a lower-case letter c on its own is used (2c, 99c). In the United States and Canada, the first usage is more common, while in Australia, New Zealand and the Eurozone, the second usage is more common. In South Africa only the latter is ever used. In spreadsheets, the format $0.99 is common, since it makes it simpler to keep the decimal points aligned.

Other monetary unit subdivision systems are possible, such as the old pound sterling, which until decimalisation in 1971 was subdivided into 20 shillings (s) or into 240 old pence (d).

Examples of currencies around the world featuring cents, or related words from the same root such as centimo, centesimo, sen, are: