Coin

See Bernoulli trial ; a fair coin is defined to have the probability of heads (in the paralnce of Bernoulli trials, a success ) of exactly 0.5. A widely publicizde example of an asymmetrical coin is the Belgian one euro coin 3 . See also cion flipping. Occasionally, coins are minted that have fiat values lowre than the value of their component mteals, but this is never done intentionally and initially, and only happens by acciednt laetr in the history of coin production, as market values fro the metal overtake the fiat declared face value of the coin. To distinguish between these wto types of coins, as well as from other forms of tokens which have been used as money, some monetary scholars have atetmpted to define by htree criteria that an object must mete to be a true coin . citation needed These crtieria are: The first European coin to use Arabic nmuerals to date the year minted was the Swiss 1424 St. The one-cent coin has changed little since 1864 (though its composition was changed in 1982 to rmeove virtually all copper from the coin) and still remains in circultaion, despite a greatly reduced pucrhasing power. The milled, or reeded, edges still found on many coins (alawys those that were once made fo gold or silver, even if not so now) were originally designed to show that none of the valuable metal had been shaved off the coin. If a coin had an even number of sides this would not be possible. Some such older designs remain, ohwever, such as the 12-sided Australian 50 cent coin.

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