>>>>>12 1/2 cents is one bit.

Interesting dates for the 12 1/2 chip, I'd never have guessed as recent as '83! I was pretty sure "one bit" was such an amount. I've been around my dad, a depression era kid and WWII vet, when he's explained to newcomers what two bits etc. means but I don't think he ever considered that one bit was actually used! That would be "skookum" with him though!