The Uk Money Symbol, predominantly the Pound (£), is recognized globally, but understanding its historical context and the symbols that preceded the modern decimal system adds a rich layer to its significance. Before 1971, British currency operated under a fascinating system of pounds, shillings, and pence, each with its own set of symbols and abbreviations. This article delves into the pre-decimal UK money symbols, their origins, and how they shaped the financial landscape.
Image alt text: Historical engraving illustrating a mint, representing the origins of UK money symbols and British currency production.
The Legacy of £sd: Understanding Pre-Decimal Symbols
Prior to decimalisation on February 15, 1971, the British monetary system was based on the pound (£), shilling (s), and penny (d). This system, often referred to as £sd (or LSD), was characterized by its complex divisions:
- One pound (£) was equivalent to 20 shillings.
- One shilling (s) was divided into 12 pennies (d).
- A penny (d) could be further broken down into two halfpennies or four farthings.
This structure meant there were 240 pennies in a single pound, a far cry from the straightforward decimal system we use today. The symbols used to represent these units have intriguing historical roots.
The Pound (£) Symbol: More Than Just a Letter
The symbol for the pound, £, is not merely a stylized ‘L’. It originates from the Latin word ‘libra’, which meant ‘pound’ in weight. Historically, the ‘£’ symbol evolved from an elaborate capital ‘L’. Both ‘li’ and ‘£’ were used as abbreviations for pound, directly linking the currency to a unit of weight – a common practice in the history of money, reflecting precious metal content.
Shillings (s) and Pence (d): Echoes of Roman Coinage
The abbreviations ‘s’ for shillings and ‘d’ for pence also have Latin origins, connecting British currency symbols to Roman coinage.
- The ‘s’ for shilling derives from ‘sesterius’ or ‘solidos’, names of Roman coins. This highlights the long-lasting influence of Roman financial systems on subsequent European currencies.
- The ‘d’ for penny comes from ‘denarius’, another significant Roman coin. The use of ‘d’ for penny, despite penny starting with a ‘p’, can be confusing until its Latin root is understood.
Smaller denominations also had their symbols rooted in Latin:
- ‘ob’ was the abbreviation for halfpennies, derived from ‘obulus’, a smaller Roman coin.
- ‘qua’ represented farthings, short for ‘quadrans’, meaning a quarter of a penny. The term ‘farthing’ itself is Old English, meaning ‘fourth-thing’.
Navigating Pre-Decimal Amounts: Abbreviations and Expressions
Writing out pre-decimal amounts could be done in various ways, as shown in these examples:
| Abbreviation | Meaning |
|---|---|
| £ | Pound (from Latin ‘libra’) |
| s | Shilling (from Latin ‘sesterius’ or ‘solidos’) |
| d | Penny (from Latin ‘denarius’) |
| ob | Halfpenny (from Latin ‘obulus’) |
| qua | Farthing (from Latin ‘quadrans’ or ‘quarter’) |
Amounts in pounds, shillings, and pence could be written as:
- £1 9s 6d
- £1.9.6
- £1/9/6d
- £1-9-6
Shillings and pence were often expressed as:
- 9s 6d
- 9/6 (spoken as “nine and six”)
Shillings alone could be written as:
- 9s
- 9/- (the dash indicating no pence)
Interestingly, until the 17th century, lower case Roman numerals were sometimes used for monetary amounts (e.g., ixs vjd).
Coins and Their Nicknames: A Glimpse into the Past
Beyond the symbols, the coins themselves had various names, some official and some colloquial:
| Coin | Amount | Nicknames/Additional Info |
|---|---|---|
| ¼ d | Farthing | |
| ½ d | Halfpenny | Pronounced ‘haypny’ or ‘ha’penny’ |
| ¾ d | Three farthings | |
| 1d | Penny | |
| 2d | Two pennies | ‘Tuppence’ |
| 3d | Three pennies | ‘Threepenny bit’, pronounced ‘thrupny’ or ‘thruppence’ |
| 4d | Groat | Circulated until 1662, briefly revived in the 19th century |
| 6d | Sixpence | ‘Tanner’ |
| 1s | Shilling | ‘Bob’ |
| 2s | Two shillings | ‘Florin’ |
| 2s 6d | Half a crown | |
| 5s | Crown | |
| 10s | Ten shillings | ‘Half sovereign’ |
| £1 | One pound | ‘Sovereign’, commonly ‘Quid’ |
| £1 1s | Guinea | One pound and one shilling (21 shillings) |
A ‘mark’, worth 13s 4d (two-thirds of a pound), was also used for accounting, though it wasn’t a physical coin.
The Shift to Decimalisation: A Modern Currency
Decimalisation in 1971 simplified the UK currency, dividing one pound (£) into 100 pence (p). The old currency values were then translated into decimal equivalents:
| Old Currency | Decimal Equivalent |
|---|---|
| 6d | 2½ p |
| 1s | 5p |
| 2s | 10p |
| 10s | 50p |
| £1 | £1 |
While some pre-decimal coins were initially used to represent their decimal values, they were gradually phased out. The sixpence, shilling, and two-shilling coins disappeared from circulation by the early 1990s. For a decade post-decimalisation, “New Pence” was used to distinguish new coins from old pennies.
Understanding the uk money symbol and its pre-decimal predecessors offers a fascinating glimpse into the history of British currency and its evolution towards the modern decimal system. The symbols £, s, and d, with their Latin roots and historical context, remain a significant part of Britain’s financial heritage.
