Concise Bible Dictionary:

Strong’s Dictionary of Greek Words:

neuter of a derivative of the same as 3013; something scaled (light), i.e. a small coin
KJV Usage:

From Manners and Customs of the Bible:

1. The λεπτόν, or “mite,” was the smallest Greek copper coin. Its value was the eighth part of an assarion; thus making it worth about one fifth of one cent, or three eighths of one farthing. See note on Matthew 10:2929Are not two sparrows sold for a farthing? and one of them shall not fall on the ground without your Father. (Matthew 10:29) (#658). It is also mentioned in Luke 12:5959I tell thee, thou shalt not depart thence, till thou hast paid the very last mite. (Luke 12:59).
2. The κοδρύντης, or “farthing,” was the smallest Roman brass coin, and was worth the fourth part of an assarion, and equal to two lepta, or mites; that is, about two fifths of one cent, or three fourths of one farthing. It is also mentioned in Matthew 5:2626Verily I say unto thee, Thou shalt by no means come out thence, till thou hast paid the uttermost farthing. (Matthew 5:26).