The pound symbol, £, is instantly recognizable as the signifier of British currency and a symbol of financial exchange worldwide. But have you ever stopped to consider the origins of this iconic symbol, or why the GBP sign sometimes appears with a single horizontal bar instead of two? This exploration into the history of the “Pound Symbol Money” will uncover the fascinating evolution of this monetary mark and clarify the stylistic shift you may have observed.
The story of the pound symbol begins centuries ago, tracing back to ancient Rome. The symbol itself originates from the letter “L,” which served as the initial for the Latin word “libra.” “Libra” was a Roman unit of weight, and crucially, it also meant a pound of silver – a fundamental unit of currency in historical contexts. Over time, this “L” began its transformation into the symbol we recognize today.
While the precise moment horizontal lines were added to the ‘L’ remains uncertain, historical records provide intriguing clues. Within the Bank of England’s archives, a cheque dating back to January 1660 clearly displays a discernible £ sign. This suggests that by the mid-17th century, the symbol was already developing its distinctive form. By the time the Bank of England was officially established in 1694, the £ symbol was in widespread use, solidifying its place in financial and commercial transactions.
Interestingly, the pound symbol’s appearance on Bank of England banknotes has seen a subtle yet noteworthy stylistic change over the years – the shift from a double crossbar to a single crossbar. To understand when and why this occurred, let’s delve into a timeline of banknote series and their pound symbol variations:
- £20 Note: The single crossbar made its debut on the £20 note in 1970 with the ‘D’ Series, which featured William Shakespeare.
- £10 Note: Following shortly after, the £10 note adopted the single crossbar in 1975 with the ‘D’ Series, showcasing Florence Nightingale.
- £1 Note: In 1978, the single crossbar was introduced on the £1 note with the ‘D’ Series, bearing the image of Isaac Newton on its reverse side. It’s worth noting that the preceding ‘C’ series notes did not include any pound symbol.
- £50 Note: The £50 note joined the single crossbar trend in 1981 with the ‘D’ Series, honoring Christopher Wren.
- £5 Note: Finally, the £5 note transitioned to the single crossbar in 1990 with the ‘E’ Series, depicting George Stephenson.
The reason behind this visual modification from two horizontal bars to one is understood to be purely stylistic. It was a design choice, perhaps aiming for a more modern or streamlined aesthetic for the currency symbol on banknotes. Regardless of the number of crossbars, the fundamental meaning of the “pound symbol money” – representing British Pounds Sterling – remains constant and universally understood.
For those seeking to delve deeper into the rich history of the pound and its symbolism, the following resources offer comprehensive insights:
- Sinclair, David. The Pound, A Biography. Arrow Books, 2000.
- Mayhew, Nicholas. Sterling: The Rise and Fall of a Currency. Alan Lane/Penguin Press, 1999.
These books provide a broader context for understanding the “pound symbol money” within the larger narrative of British currency and its global influence.
