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?
- Anonymous10 years agoBest 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:
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
- DRAC250Lv 510 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
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.
- EileenLv 44 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......
- AdamLv 410 years ago
1 Euro is 1.359 US Dollars.
and US uses pennies, nickels, dimes, quarters, and dollar bills with varying amounts.