Talk:Mill (currency)
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I recall in my youth my grandfather showing me some mill paper stamps which had been used for tax purposes; I don't recall if it was state or Federal or more details, just that there were tangible items in the value of a mill. -- Infrogmation 17:10, 27 Sep 2003 (UTC)
From United States dollar:
- The U.S. dollar is divided into 100 cents. Originally, it was further divided into 1000 mills, a currency unit used until World War II made aluminum too expensive to be used for the coins (and rising inflation made them essentially worthless).
So, is it abstract or not? Quincy 12:02, 9 Dec 2003 (UTC)
I changed the absolute statement regarding the existence of mil coins, as they did indeed exist in some currenciesm such as the Maltese Lira. 219.2.76.141 13:53, 30 October 2005 (UTC)
Hmm... couldn't this be confused for a simple abbreviation of "million"? - furrykef (Talk at me) 09:09, 13 December 2005 (UTC)
- I can't imagine a context where simple common sense would fail to distinguish between $.001 and $1,000,000 Nik42 06:05, 14 December 2005 (UTC)
Oh dear.. the mils are 1/10 of a cent in Malta. They're still used for pricing products, especially pharmaceuticals and food, but they're no longer in circulation, and the amount is round up or down depending on whether the number of mils is 5 or greater. Hope this helps. Maltesedog 08:22, 26 January 2006 (UTC)
It's worth noting that, for some reason, gas prices are still given in mil grades (maybe someone knows why). I think some real estate deals involve mils also. RudolfRadna 15 February 2006 (UTC)
- Probably for the same reason that other prices end in 9 cents. If the price is given as $3.099, people think of it as "$3.09" instead of "$3.10". Nik42 09:47, 20 August 2006 (UTC)
In the United States, the term was first used by the Continental Congress in 1786, being described as the "lowest money of accompt, of which 1000 shall be equal to the federal dollar." Coinage in the denomination of the mill was legislated in 1786, but was never carried out.
The link given does not mention a mill coin. It explicitely gives the half-cent as the smallest coin. I'm removing the part about a mill coin Nik42 09:47, 20 August 2006 (UTC)
