or /- ) Other coins of a value less than 1/- wereĪ threepenny bit (threepence) (3d) made of silverĪ sixpence (silver) often called a ' tanner' It became a silver coin in 1551under his son Edward VI. or /- )Ĭoins of more than one shilling ( 1/- ) but less than £1 in value were: a florin (a two shillings or 2 bob or 2 bob bit)Ī half-crown ( 2/6d) (2 shillings and 6 pence)Ī half-sovereign (ten shillings or 10 bob)Ī half-guinea (10/6d) (10 shillings and 6 pence)Ī 'crown' was originally a gold coin issued during the reign of Henry VIII in 1544. There were 240 pennies to a pound because originally 240 silver penny coins weighed 1 pound (1lb).Ī sum of £3 12s 6d was normally written as £3-12-6, but a sum of 12s 6d was normally recorded as 12/6.Īmounts less than a pound were also written as:Īn amount such as 12/6 would be pronounced 'twelve and six' as a more casual form of 'twelve shillings and sixpence'. £1 ( one pound) equalled 20 shillings (20s or 20/-) 'Bob' is slang for shilling (which is 5p in todays money) It did not appear to last very long because, I have been given to understand, it was easily forged.' It had to be folded to fit into a wallet and I never possessed more than one at a time and then infrequently. It was larger than other notes, stiff and very white with black lettering. I was given 4 gold guinea coins when I was 13.' Therefore ceased to be used as such as they became collectors items, for the gold presumably. 'A Guinea coin was available as legal tender and they were minted from gold. You paid tradesmen, such as a carpenter, in pounds but gentlemen, such as an artist, in guineas.Ī third of a guinea equalled exactly seven shillings.īecause the Guinea coast was fabled for its gold, and its name became attached to other things like guinea fowl, and New Guinea. = penny (for 'denarius', a Roman silver coin)Ī £1 coin was called a Sovereign and was made of gold.ġ guinea = £1-1s-0d ( £1/1/- ) = one pound and one shilling = 21 shillingsġ guinea could be written as '1g' or '1gn'.Ī guinea was considered a more gentlemanly amount than £1. The ' £' sign developed from the ' l' for libra. The symbols ' s' for shilling and ' d' for pence derive from the Latin solidus and denarius used in the Middle Ages. A pound sterling thus weighed 240 pennyweights, or a pound of sterling silver.

The penny was literally one pennyweight of silver. It was based on the troy system of weighing precious metals. The pre-decimalisation British system of coinage was introduced by King Henry II.

Pennies worth money