#563: What is the value of a perutah?
In most matters of halachah anything pachos mi’shaveh perutah (less than the value of a perutah coin—the smallest unit of currency in ancient times) has no bearing. For example, one is not obligated in the mitzvah of hashavas aveidah (returning a lost article) if it’s less than a shaveh perutah. For that reason, it’s important to establish the current equivalent of the perutah. There’s a difference of opinion among poskim (halachic authorities) whether the perutah of old was made of copper, copper that contained some silver, or pure silver. Regardless, the accepted value of a perutah is equivalent to the value of silver weighing half a grain of average sized barley. According to the price of silver in late March, 2016, it’s equal to approximately three cents in US currency.
However, some poskim say that the defining characteristic of the perutah is that it has minimum purchasing power, and since three cents can’t buy anything these days, the halachic value of a perutah should be set at a bit more. The consensus, though, is in accordance with the first opinion. #563
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