How Do Coins Work?

how do coins work
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Ever wondered how to make sense of the jingling coins in your pocket? Well, you’re not alone. Many parents grapple with the task of teaching their kids about coins. It’s a crucial life skill; we’re here to help you break it down. This blog post, coupled with our Goal Mine class video, will guide you through the process of teaching your kids about money. So, let’s make cents of it all!

Step 1: How to Identify CoinsTeach your kids to recognize the differences in size, color, and design of pennies, nickels, dimes, and quarters.
Step 2: What is the Value of Coins?Explain the value of each coin. Pennies are worth 1 cent, nickels are worth 5 cents, dimes are worth 10 cents, and quarters are worth 25 cents.
Step 3: How to Use CoinsTeach your kids how to combine different coins to make up a specific value and how to count coins starting from smaller values to larger ones.

Step 1: How to Identify Coins

Firstly, let’s talk about identifying coins. It’s the foundation of understanding how coins work. Different coins have different sizes, colors, and designs. Teaching your kids to recognize these differences is the first step.

  • Pennies: These are small, round, and copper-colored. They have Abraham Lincoln on one side and the Lincoln Memorial on the other.
  • Nickels: They are larger than pennies and silver in color. Thomas Jefferson’s face graces one side, and his home, Monticello, is on the other.
  • Dimes: These are the smallest coins, yet silver-like nickels. Franklin Roosevelt’s face is on one side, and a torch with olive and oak branches is on the other.
  • Quarters: The largest of the four quarters are silver and feature George Washington on one side. The other side varies, often showcasing different U.S. states or national parks.

For instance, you can make this learning process fun by turning it into a game. Have your kids sort a pile of coins into their respective categories. The Goal Mine class video can further help your kids understand this step.

coins. a boy is putting his money into the pig to collect his coins.
Read more: Should Kids Get Paid for Chores?

Step 2: What is the Value of Coins?

Now that your kids can identify coins, it’s time to understand their value. Each coin carries a different value, and it’s essential to know how much each one is worth.

  • Pennies: Worth 1 cent
  • Nickels: Worth 5 cents
  • Dimes: Worth 10 cents
  • Quarters: Worth 25 cents

You can use real-life examples to explain this concept. For instance, if an apple costs 25 cents, how many pennies would you need to buy it? How many nickels or dimes? Such practical examples can make learning about coins much more relatable and fun.

Step 3: How to Use Coins

Finally, we reach the stage where your kids learn to use coins. This involves understanding how to combine coins to make up a specific value. For example, you can make 25 cents using a quarter, two dimes, a nickel, or even 25 pennies!

Similarly, teaching your kids to count is also valuable. Start with smaller values and gradually move to larger ones. Remember, practice is essential here. The more your kids practice, the better they’ll get at using coins.

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HERE’s a video explaining how to works.

In conclusion, teaching your kids about coins doesn’t have to be daunting. With the right approach and plenty of practice, your kids will be coin whizzes in no time. Above all, make the learning process fun and engaging. After all, kids learn best when they’re having fun. Remember, this blog post and the accompanying Goal Mine class video are just the beginning. To unlock the rest of the video lessons that teach about coins and many other life skills, get Goally’s dedicated Tablet. It’s an investment in your child’s future that will certainly pay off!

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We help parents teach their kids life skills, like doing bedtime and morning independently. Backed by science, we incorporate evidence-based practices and expert-informed designs in all of our apps.