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

 

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