Money is an excellent venue for exploring real-life addition and subtraction scenarios. Students need to understand that the symbols used with money do not change the mathematical processes used in solving the problems themselves. This standard is the very first time money is introduced to children. In order to master this standard, teachers of second grade must ALSO teach coin values and use those values to add and subtract money. At this point, students have only been exposed to "skip counting". It is implied in this standard that students must know money values/amounts, and how to add them together when given mixed values; therefore, this is a huge sub-standard that must be taught first.
Understanding the Standard:
- The use of manipulatives that represent coins and paper money is an excellent tool for students to gain experience in counting money.
- Counting money should begin with the use of the same coins so that students can make the connection between counting coins and skip counting.
- Once students are able to count sets of coins and dollar bills that are the same, they then should have much practice counting a set with many different coins represented. This skill is more advanced and requires students to skip count different amounts at once.
- Students should have opportunities to explore making the same amount using a variety of coin and dollar bill combinations, even making a chart that displays the various ways that an equivalent amount can be made.
Questions to Focus Instruction:
- Can students skip count by 5s, 10s, and 25s to 100?
- Can students correctly identify each coin by name and its monetary value?
- Can students correctly identify each dollar bill by name and add its monetary value?
- Can students add-on to count a set of coins?
- When given a specific amount, can students find a variety of ways to make that amount with an assortment of coins?
- Can students solve for real money situations using their knowledge of money?
(Not formally introduced prior to Grade 2) Students have had opportunities to use coins and dollar bills informally.
At Grade Level:
Students will correctly identify coins, dollar bills, and their respective amounts. Students can count on to add a set of coins and find equivalent ways to make a specified amount of money. Finally, students will apply their knowledge to word problems that represent real-life situations.
(Not formally followed up in Grade 3) Students can count out correct amount of money. Students can add and subtract math problems involving coins. Students begin to understand that coins are parts of a whole (one dollar). This is introduction to fractions which does start in third grade.