Money Facts
Updated:
23 January 2015
Value
Description
Decimalisation
Pre-decimalisation
Old English Coins
Farthing
Tanner (slang)
Shilling
Bob (slang)
Florin
Half-Crown
Crown
Guinea
Sovereign
Groat
Angel
Mark
Until 1971, British currency was in Pounds (£), Shillings (s) and Pence (d)
There were 12 pence to a shilling, 20 shillings to a pound, hence 240 pence to a pound.
The currency was decimalised on 15th February 1971 and is now in Pounds (£) and pence (p) only. The pound is as before, but there are only 100 new pence to the pound. So each new penny is worth 2.4 old pennies. The term 'new' penny was dropped officially in 1982 on the grounds that it was no longer 'new'.
A quarter of a penny
Six pence
Twelve pence
One shilling
Two shillings
Two shillings and six pence
Five shillings
One pound and one shilling (21 shillings)
Gold one-pound coin (also half-sovereigns)
Four pence, last used around 1888
Varied in value: Edward IV = 6s 8d; Edward VI = 10s
Thirteen shillings and four pence