Anonymous
Anonymous asked in Arts & HumanitiesHistory · 10 years ago

When was the British pound introduced, what was the system before that?

i.e. what was a shilling, 10 bob, tuppence etc. equivocal to?

What is a nickel and a penny (is that what they use in the US)?

Finally, what is the equivalent on £1 in the US dollar and Euro currencies?

4 Answers

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  • Anonymous
    10 years ago
    Best Answer

    Sterling (British currency) in its current incarnation began on 15 February 1971. Before that date, the pound was made up of 240 pence (240d). 12 pence was equal to 1 shilling, and 20 shillings (20s) was a pound.

    The value of the pound did not change in 1971, only the way it was made up was changed, so now 100 pence = £1.

    Tuppence just means 2 pence. A bob was another word for shilling.

    Here are two links where you can read about the old currency, what it's value was, what the coins looked like, and the history, including things like the Guinea:

    http://gwydir.demon.co.uk/jo/units/money.htm

    http://www.coins-of-the-uk.co.uk/coins.html

    The next link has a table which shows what a Farthing was worth, etc. http://www.bignell.uk.com/up_to_dec.htm

    In the US, their Dollar is 100 cents. The sometimes use the word "penny" to mean 1 cent. A nickel is 5 cents.

    £1 is worth $1.54. (US Dollar). £1 is worth €1.37 (Euro)

    These rates change all the time. To get the latest exchange rates, visit http://www.xe.com

    I don't know much before the Pound, like the Groat, but Wikipedia does: http://en.wikipedia.org/wiki/Groat_%28coin%29

  • 10 years ago

    before the decimal system was introduced in 1971, the £ sterling worked like this:

    £1 = 240 d

    12 d = 1 shilling

    20 shillings = £1

    coins were a penny, 1d

    tuppence, 2d

    thruppence, 3d

    Hapence or ha'penny, 0.5 d

    a shilling or bob, 12 d

    a half crown or 10 bob; 120 d, 10 shillings

    a crown or guinea, £1, 20 shillings or 240 d.

    d stands for denarius, which was the smallest coin used under the Roman Empire.

  • Eileen
    Lv 4
    4 years ago

    ANY UK Pound coin can be used in the UK.....ALL ever minted are in circulation.....WE have a history of keeping them in circulation a LONG time...As a kid PRE decimal system I remember in the 1960's having coins from Queen Victoria in my pocket......

  • Adam
    Lv 4
    10 years ago

    1 Euro is 1.359 US Dollars.

    and US uses pennies, nickels, dimes, quarters, and dollar bills with varying amounts.

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