Pounds,shillings and pence.

Until 1968 the British currency consisted of Pounds, Shillings and Pence

£ s d


The basic unit, the Pound £

was divided into 20 Shillings s

And each shilling was divided in to 12 pence d

Thus we added up monetary figures in three columns

The right hand column was for pence, which we added up by twelves. Each complete 12 was carried over into the middle column, for 12 pence made one shilling.

e.g. if the right hand column added up to 38, we could carry forward 3 (36 pence makes 3 shillings) and leave the remainder as 2d.

Then we counted the middle column in twenties. Each complete 20 was carried over to the left hand column as a pound.


e.g. if the middle column added up to 90, we would carry forward 4 ( 80 shillings makes 4 pounds), and leave the remainder as 10.

This explains why, when we learned our “times tables” we needed to master the 12 times table - so that we could add up those 12 pence makes a shilling column.

Of course this system baffled and confused overseas visitors to Britain - we liked it that way!

In 1971 the system was decimalised, so that the British pound is now simply divided into 100 pence.

The highest value Bank note we ever saw was for £5. The earlier notes I saw were printed on large and very thin paper. They represented a fortune! Smaller £5 notes were already taking over.

Much more common was the one pound note. And we had a ten shilling note.

In coinage there was a rare “crown” worth five shillings. These were minted for special occasions.

Then there was the half crown - worth two shillings and six pence.
( Eight half crowns made a pound).

That was followed by the florin - worth two shillings.

Then the shilling itself (twenty shillings make a pound)

Followed by the sixpence, the three pence, the penny, and the half penny.

There were still the occasional farthings in circulation, worth one quarter of a penny. You might also encounter the rare silver three pence coin - made of silver. These were treasured and set aside to be cooked in the Christmas pudding, a little bonus if you found one in your slice.

A pound was always a “quid”.

A shilling was a “bob”

A sixpence was a “tanner”

A penny was a “copper”


Pronunciation was also hazardous for overseas visitors.

A half-penny was nearly always abbreviated in writing to “ha’penny” , but it was pronounced “hape-knee”.

Two pence was always “tuppence”. Three pence was “thrupence” - and no-one ever had ever had a “thrup-knee” coin, it was always a “thrup-knee bit”.

Similarly a florin (two shilling coin) was rarely graced by than name - it was always “two bob”.

Two other notes for now:

If a theatre show, a film, or a purchased article did not live up to expectations we might refer to it as a “tup-knee ‘ape-knee” thing. (two and a half pence!)

No longer a coin, but still in common parlance was the “guinea” - worth £1.1s. 0d (Twenty one shillings.)

Advertisers loved the “guinea”. For instance a fine fur coat might be advertised at 99 guineas. That “sounded” less than £ 100, but in fact it was 99 pounds plus 99 shillings, almost £ 105

All this in preparation for tomorrow “Here a penny, there a shilling”.

And, why not do your own Google search to find out the origins of “Pounds, shillings and pence” and that £ s d symbol.

Comments

  1. I'm a bit late on this comment, and it might be a bit racy for your blog, BUT...

    I just HAD to show this entry to my office manager, who is from England also. She went down memory lane a bit, and then explained she had once been on a "Jack the Ripper" tour in London, where they explained that one particular area Jack the Ripper frequented was, of course, an area with lots of prostitutes. There was a wall, upon which one could have a cheap, let's say - "tryst" (to put it nicely) while still standing, which apparently was called a "thrupence knee-bender." I thought this was an illuminating bit of information that I surely can't use, but it made me laugh nonetheless.

    I think you and my office manager could have quite a chuckle together, should you ever meet!

    ReplyDelete
  2. dumb brits what is logic behind such a division?

    ReplyDelete
  3. Dear Anonymous

    Your question should have been what WAS the logic behind the system. As I wrote, the system was changed in 1968

    For that, you would have to delve into the history of currencies in England, and also in many other countries.

    And for your information - I am British, but I am not a "dumb Brit"

    ReplyDelete
  4. Well the origins of the LSD or deco duodecimal system originates in ancient Rome where the currency was called lira, solidi, denari. The system became a universal method of currency throughout the Roman Empire and therefore may be considered to be the precursor to the Euro of today.
    Many European countries had decoduodecimal currencies it just so happens that the United Kingdom (along with its dependencies) and the Republic of Island continued using the system after it had been discarded by others.
    Unlike France the United Kingdom did not impose its monetary system on its colonies but allowed them to develop their own system and many chose to use a decimal system and others did not. Even in the neonatal USA the LSD system was in use for a short while. That’s why they call the cent a penny.

    ReplyDelete
  5. When was the system invented?

    ReplyDelete

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