Before the UK adopted the decimal system in 1971, understanding English Money was a unique journey into a world of pounds, shillings, and pence. This guide will explore the fascinating history of this pre-decimal currency, offering a clear and comprehensive look at how it worked.
Image alt text: Historical engraving depicting a British mint from 1837, illustrating the production of English money during the pre-decimal era.
Navigating the Old System: Pounds, Shillings, and Pence
Up until Decimal Day on February 15, 1971, British currency, often referred to as English money, operated on a system that might seem complex to modern eyes. Instead of a simple base-ten system, it was based on divisions that stretched back centuries. Here’s how it broke down:
- Pound (£): The largest unit of currency.
- Shilling (s): One pound was divided into 20 shillings.
- Penny (d): One shilling was further divided into 12 pennies.
This meant there were a total of 240 pennies in just one pound! And it didn’t stop there; pennies themselves were subdivided even further:
- Halfpenny (ob): One penny was divided into two halfpennies.
- Farthing (qua): One penny was also divided into four farthings, representing the smallest denomination.
This intricate system of English money reflects a long and rich history of trade and commerce in Britain.
Abbreviations and Symbols: A Monetary Shorthand
To simplify writing and record-keeping, a set of abbreviations and symbols were commonly used for English money. These are essential for understanding historical documents and literature that refer to pre-decimal currency:
| Abbreviation | Meaning |
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