Cent (currency) facts for kids

A United States one-cent coin, also known as a penny

A cent is a small unit of money used in many countries around the world. It's usually worth one-hundredth (1/100) of the main currency unit. Think of it like this: if you have 100 cents, you have one whole dollar, one euro, or whatever the main currency is in that country.

In the United States, the cent is often called a penny. It has a picture of Abraham Lincoln, a famous former president, on one side. Cents are important for making exact change and for pricing things that cost less than a whole dollar or euro.

What is a Cent?

The word "cent" comes from the Latin word centum, which means "one hundred." This makes sense because a cent is always 1/100 of a larger currency unit. For example, 100 US cents make one US dollar. Similarly, 100 euro cents make one euro. These small coins help us pay for things precisely, like a candy bar that costs 75 cents.

Cents Around the World

Many countries use cents or similar small units as part of their money system.

• The United States uses the cent, commonly called a penny.
• The Eurozone (countries that use the euro) uses euro cents. These coins look similar across all euro countries but have different national designs on one side.
• Canada used to have cents, but they stopped making them in 2012. Now, prices are usually rounded to the nearest five cents.
• Australia and New Zealand also use cents as part of their dollar currency.
• Many other countries, especially those with currencies like dollars, euros, or shillings, have a cent or a similar small coin.

Even though they are small in value, cents play a big role in everyday buying and selling.

The History of Cents

Small coins like cents have been around for a long time. They were created to make it easier to buy and sell goods that cost less than a whole unit of money. The idea of dividing a main currency into 100 smaller parts became very popular. This system is called a "decimal currency" system. It makes calculations much simpler, just like our number system is based on tens.

The first US cent was minted in 1793. It was much larger than today's penny. Over the years, the size and design of the cent have changed many times. The current design with Abraham Lincoln on the penny was first introduced in 1909 to celebrate his 100th birthday.

Why Are Cents Important?

Cents might seem like tiny amounts of money, but they are very important for several reasons:

• Exact Pricing: They allow stores to price items precisely, like $1.99 instead of just $2.00. This can make things seem cheaper.
• Making Change: Cents are essential for giving back the correct change when you pay with a larger bill.
• Everyday Transactions: Many small items, like a piece of gum or a single piece of candy, are priced in cents. Without them, it would be harder to buy these things.
• Economic Calculations: For businesses and governments, even small amounts add up. Cents are included in all financial calculations.

While some countries have stopped using their smallest coins because they are expensive to make, cents continue to be a fundamental part of money systems around the world. They help keep our economies running smoothly, one small coin at a time.

See also

In Spanish: Centésimo (fracción monetaria) para niños