It is proposed that this article be deleted because of the following concern:
If you can address this concern by improving, copyediting, sourcing, renaming, or merging the page, please edit this page and do so. You may remove this message if you improve the article or otherwise object to deletion for any reason. Although not required, you are encouraged to explain why you object to the deletion, either in your edit summary or on the talk page. If this template is removed, do not replace it . The article may be deleted if this message remains in place for seven days, i.e., after 20:00, 18 September 2025 (UTC). Find sources: "Coin of account" – news · newspapers · books · scholar · JSTOR |
![]() | This article has multiple issues. Please help improve it or discuss these issues on the talk page . (Learn how and when to remove these messages) |
A coin of account is a unit of money that does not exist as an actual coin (that is, a metal disk) but is used in figuring prices or other amounts of money.
The mill (or sometimes, mil) is a coin of account in the United States. It is equal to one-tenth of a penny, and so to one-thousandth of a dollar (= $0.001), whence the name, which means "thousandth." There was never such a coin minted by the U.S. Federal government, though some states minted these coins well into the mid-1900s. Coins of account are used in accounting and for figuring taxes, usually either property taxes or sales taxes.
From 1816 to the 1980s the British Guinea was no longer used a coin but prices for luxury items and professional services were often quoted in guineas, on the understanding that a guinea was equal to 21 shillings.