Mite: a coin current in Palestine in the time of our Lord. (Mark 12:41-44; Luke 21:1-4) It seems in Palestine to have been the smallest piece of money (worth about one-fifth of a cent), being the half of the farthing, which was a coin of very low value. From St. Mark's explanation, "two mites, which make a farthing," ver. 42, it may perhaps be inferred that the farthing was the commoner coin.