In many national currencies, the cent, commonly represented by the cent sign (a minuscule letter “c” crossed by a diagonal stroke or a vertical line: ¢; or a simple “c”) is a monetary unit that equals of the basic monetary unit. Etymologically, the word cent derives from the Latin word “centum” meaning hundred. Cent also refers to a coin worth one cent. In the United States and Canada, the 1¢ coin is generally known by the nickname penny, alluding to the British coin and unit of that name. In Ireland the 1c coin is also sometimes known as a penny in reference to the Irish penny, worth of the Irish pound that was replaced by the euro in 2002.