The Peel WebIn these days of decimalisation of currency, it is difficult to understand the currency used in Britain before that country 'went decimal' in 1971. The following chart may help to explain it.
Money was divided into pounds (£ or l in some documents) shillings (s. or /-) and pennies (d.). Thus, 4 pounds, eight shillings and fourpence would be written as £4/8/4d. or £4-8-4d.
| There were | ||
| 20 shillings in £1 - a shilling was often called 'bob', so 'ten bob' was 10/- | ||
| 12 pennies in 1 shilling | ||
| 240 pennies in £1 | ||
| Pennies were broken down into other coins: | ||
| a farthing (a fourth-thing) was ¼ of a penny | ||
| a halfpenny (pronounced 'hay-p'ny') was ½ of a penny | ||
| three farthings was ¾ of a penny (i.e. three fourth-things). There was no coin of this denomination, however | ||
| Other coins of a value less than 1/- were | ||
| a half-groat (2d) | 6 x 2d = 1/- | |
| a threepenny bit (3d) made of silver | 4 x 3d. = 1/- | |
| a groat (4d) | 3 x 4d = 1/- | |
| sixpence (silver) - often called a 'tanner' | 2 x 6d = 1/- | |
| Coins of more than 1/- but less than £1 in value were | ||
| a two shilling piece (called a florin) | 10 x 2/- = £1 | |
| a half-crown ( 2/6d) | 8 x 2/6d = £1 | |
| a crown (5/-) | 4 x 5/- = £1 | |
| ten shillings (a half-sovereign) | 2 x 10/- = £1 | |
| a half-guinea (10/6d) | 2 x 10/6d = £1/1/- | |
| A £1 coin was called a Sovereign and was made of gold. A paper pound often was called a 'quid'. | ||
| Coins of more than £1 were | ||
| a guinea (£1/1/-) | ||
| a £5 coin | ||
| Meet the author | Last modified
5 December 2004
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