A small piece of money, two of which made a kodrantes, or the fourth part of the Roman as. The as was equal to three and one-tenth farthings sterling, or about one and one-half cents. The mite, therefore, would be equal to about two mills, Lu 12:59; 21:2.
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American Tract Society Bible Dictionary
A Dictionary of the Holy Bible, American Tract Society, c. 1859, edited by W. W. Rand.