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The reason the US quarter dollar (25 cents) is called "two bits" originates from the circa. 1598 practice of dividing a Spanish dollar (the Real de a Ocho) into eight wedge-shaped segments. The coin was worth eight Spanish reales, thus each wedge was worth 1 reale or "a piece of eight". Two such pieces (or "two bits") became a common nickname for a quarter dollar.

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Q: When were two bits invented?
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