Intro to Money

Learn to identify coins and bills, know their values, and count a group of money to find the total amount.

Reading is good — doing is better. Practice Intro money as an interactive lesson.

Definition

Money is what we use to buy things. In the United States, we use coins and paper bills. Each coin or bill is worth a certain amount called its value. When you count money, you add up all the values to find the total.

Remember the rule

Count the biggest coins first, then work down to the smallest. Say each amount out loud as you go: quarters → dimes → nickels → pennies.

Key words

penny: A coin worth 1 cent. It is copper-colored and has Abraham Lincoln on the front.
nickel: A coin worth 5 cents. It is silver-colored and bigger than a penny.
dime: A coin worth 10 cents. It is silver-colored and the smallest coin.
quarter: A coin worth 25 cents. It is silver-colored and the largest common coin.
dollar bill: A paper bill worth 100 cents, which we also write as $1.00.
cent: The smallest unit of money. 100 cents equals one dollar. We use the symbol ¢.
value: How much a coin or bill is worth.
total: The amount you get when you add all the coins or bills together.

Worked examples

You have 1 quarter, 1 dime, and 1 penny. How much money is that?

→ 25¢ + 10¢ + 1¢ = 36¢ · Start with the quarter (25), add the dime (35), then add the penny (36).

You have 2 nickels and 3 pennies. How much money is that?

→ 5¢ + 5¢ + 1¢ + 1¢ + 1¢ = 13¢ · Each nickel is worth 5 cents, so two nickels make 10 cents, plus 3 pennies equals 13 cents.

You have 1 dollar bill and 1 quarter. How much money is that?

→ 100¢ + 25¢ = 125¢, which is $1.25 · A dollar bill is worth 100 cents, so add the quarter's 25 cents to get $1.25.

A toy costs 50¢. You have 2 quarters. Do you have enough?

→ Yes. 25¢ + 25¢ = 50¢, which equals exactly 50¢. · Two quarters make exactly 50 cents, so you have just enough.

You have 1 dime, 2 nickels, and 4 pennies. How much is that?

→ 10¢ + 5¢ + 5¢ + 1¢ + 1¢ + 1¢ + 1¢ = 24¢

You buy a sticker for 17¢ and give the cashier 2 dimes. How much change do you get back?

→ 20¢ − 17¢ = 3¢ change · Count up from 17 to 20: that is 3 cents back.

Common mistakes

Mixing up a nickel and a dime because they look similar — remember, the dime is smaller but worth more (10¢ vs 5¢).
Forgetting that a quarter is worth 25 cents, not 20 cents.
Counting pennies as 5 cents each instead of 1 cent each.
Starting with the smallest coins instead of the largest, which makes it easy to lose track and get the wrong total.
Writing a dollar amount without the decimal point, for example writing $125 instead of $1.25.

FAQs

How many pennies make a dollar?

100 pennies make one dollar because 1 dollar equals 100 cents and each penny is 1 cent.

How many nickels make a dollar?

20 nickels make one dollar. Each nickel is 5 cents, and 20 × 5 = 100 cents.

How many quarters make a dollar?

4 quarters make one dollar. Each quarter is 25 cents, and 4 × 25 = 100 cents.

What is the difference between the ¢ sign and the $ sign?

The ¢ sign means cents and is used for amounts less than one dollar, like 45¢. The $ sign means dollars and is used for amounts of one dollar or more, like $1.50.

Why is the dime worth more than the nickel even though it is smaller?

The size of a coin does not tell you its value — the government decides each coin's value. A dime is simply worth 10 cents by rule, even though it is physically smaller than a nickel.

How do I write 75 cents with a dollar sign?

Write it as $0.75. The zero before the decimal point shows there are no whole dollars, and 75 after the decimal point shows 75 cents.

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