Cent (currency)
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| A United States cent, or 1¢ or a penny. | A euro cent, showing the common reverse side. The obverse side is country-specific. |
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In many national currencies, the cent is a monetary unit that equals 1/100 of the basic monetary unit. 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. In Ireland the 1c coin is sometimes known as a penny in reference to the Irish penny which was replaced by the Euro in 2002.
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Etymology
Etymologically, the word cent derives from the Latin word centum meaning hundred.
Symbol
Where the cent is a subdivision of certain dollars (abbreviated $; notably the US and Canadian dollars), a cent is represented by the cent sign, a lower-case letter c pierced top to bottom by a forward slash or a vertical line: ¢. Cent amounts between 1 cent and 99 cents can be represented as one or two digits followed by the appropriate abbreviation (2¢, 99¢, 2c, 99c), or as a subdivision of the larger unit (€0.99). However, possibly because inflation has left very few things that cost less than a unit, the cent symbol generally is on the decline. For example, it has not survived the changeover from typewriters to computer keyboards, which still do provide the dollar symbol where it always has been.
Usage of the cent symbol varies from one currency to another. In the United States and Canada, the usage ¢ is more common, while in Australia, New Zealand and the Eurozone, the c is more common. In South Africa and Ireland, only the c is ever used.
When written, the cent sign (¢ or c) follows the amount, versus a larger currency symbol placed at the beginning of the amount. For example 2¢ and $0.02, or 2c and €0.02.
Usage
Mints all over the world usually create coins with values up to between the equivalent of 0.05 ~ 5 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 along with a (less-popular) coin, where nearly all other industralized nations use solely a coin for the approximate equivalent value.
Other monetary unit subdivision systems are possible, such as the British 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 céntimo, centésimo, centavo or sen, are:
- Aruban florin
- Australian dollar
- Barbadian dollar
- Bahamian dollar
- Belize dollar
- Bermudian dollar
- Brazilian real (as centavo)
- Brunei dollar (as sen)
- Canadian dollar
- Cayman Islands dollar
- East Caribbean dollar
- Eritrean nakfa
- Estonian kroon (as sent)
- Euro - the coins bear the text EURO CENT; Greek coins have "ΛΕΠΤΟ" ("lepto") on the obverse of the one-cent coin and "ΛΕΠΤΑ" ("lepta") on the obverse of the others. Actual usage varies depending on language.
- Fijian dollar
- Guyanese dollar
- Hong Kong dollar
- Indonesian rupiah (as sen)
- Jamaican dollar
- Japanese yen (as sen)
- Kenyan shilling
- Liberian dollar
- Lithuanian litas (as centas)
- Malaysian ringgit (as sen)
- Mauritian rupee
- Mexican peso (as centavo)
- Namibian dollar
- Netherlands Antillean gulden
- New Zealand dollar
- Panamanian balboa (as centésimo)
- Philippine peso (as centavo)
- Seychellois rupee
- Sierra Leonean leone
- Singapore dollar
- South African rand
- Sri Lankan rupee
- Surinamese dollar
- Swazi lilangeni
- New Taiwan dollar
- Tanzanian shilling
- Trinidad and Tobago dollar
- Ugandan shilling
- United States dollar
- Uruguayan peso (as centésimo)
- Zimbabwean dollar
Examples of currencies which do not feature cents
- Czech koruna - divided into 100 haléřů (sg.: haléř)
- Danish krone - divided into 100 ører
- Indian rupee - divided into 100 paise
- Kuwaiti dinar - divided into 1000 fils
- Mauritanian ouguiya - divided into 5 khoums
- Malagasy ariary - divided into 5 iraimbilanja
- Norwegian krone - divided into 100 ører
- Pakistani rupee - divided into 100 paise
- Polish złoty - divided into 100 groszy
- Pound sterling - divided into 100 pence
- Romanian leu - divided into 100 bani
- Russian ruble - divided into 100 kopeks
- Serbian dinar - divided into 100 paras
- Swiss franc - divided into 100 rappen
- Thai baht - divided into 100 satang
- Vietnamese đồng - 10 hào or 100 xu/su.
External links
- U.S. Cent information by year and type. Histories, photos, mintages, mints, metal contents, edge designs, designers, and more.
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