The dime is the smallest U.S. coin by diameter and thickness.
The size of the U.S. dime harkens back to an earlier era when the size of a coin was indicative of the precious metal content that the coin contained. Initially, the dime had 10 cents worth of silver, which would have caused its diminutive size.
What Made the Dime so Small?
Not only was the size of a coin determined by the metal content of the coin but there was a mandate to have a specific amount of metal per coin. The Coinage Act of 1792 established the silver dollar at 27 grams of .900 silver as the unit of currency for the United States of America.
This act also established a decimal system for U.S. currency, which included the dime and the half dime. They were to be worth one-tenth and one-twentieth of a dollar and contain equivalent amounts of silver.
A coin with only 2.7 grams of silver would be small out of necessity.
At the time, the half dime was the smallest U.S. coin, but that was eliminated with the nickel’s introduction in 1873.
Spanish Inspirations on the American Dollar and Coinage
The Spanish milled dollar was widely used in international trade from the 1530s until the 1850s and served as an inspiration for the new U.S. dollar. In fact, the Spanish milled dollar was so widely used that it was used as legal tender until the Civil War!
The 8 Reales, or Piece of Eight Spanish milled dollar, had four decimal coins: The 4 Reales, 2 Reales, 1 Reale, and ½ Reale.
This is where the new United States dollar differed from the 8 Reales coin. The U.S. dollar and its decimals were set up on a percentage basis, so each dollar had 100% or 100 cents.
Why is the Dime Still Small Today?
Silver was removed from dimes and quarters in 1965. Since it was first made small for its silver content and purity, why was the dime not given a size more befitting the hierarchy of other U.S. coins?
The size differences of our coins facilitate easy commerce. Can you imagine how long it would take to count change without an immediately recognizable difference among dimes, nickels, and quarters?
In the intricate tapestry of currency and coinage, the size of a coin, like the dime, results from centuries of progress, growth, and practical cultural considerations.
