contact Me 020 308 69996 British Coins and Collecting Accessories Predecimal.com - Just me specialising in British coins from about 1660 onwards and offering collectors' accessories, books and free knowledge on this interesting and fulfilling field. This website also contains the biggest British Coin related forum in the world, with over 120,000 posts it's quite possibly the largest British numismatic reference of any kind. It's searchable, free and everyone is welcome. Back in stock, and back on offer. All orders of £30 or over will receive a free pack of these coin envelopes. I'll add them automatically to your order. This website is run by Chris Perkins - British Numismatic Trade Association Member (the BNTA), professional numismatist, former broadcaster, author of the 32nd to 42nd annual editions of "Collectors' Coins GB", and of "Collectors' Coins - Decimal Issues of the UK", co-author of a number of other books! Please see Rotographic.com for more details on my range of books.

With a base in Germany I am also able to offer a large range of collectors accessories at the best possible 'direct from the factory' prices. Who am I? And what assurances do I offer regarding all buying and selling of items through this website? Click here. PDF - Click Me! Full range of Lindner products available on predecimal.com! Lindner products combine excellent quality and value. Click on the Lindner image above to download the full (older, but still current) Lindner PDF catalogue (18mb). Browse through it and enter the reference numbers, without spaces, of what you require in the 'Search Products' box in the search box at the top of the website. Purchase items in the usual way. Note that the PDF prices are in Euros - The prices on predecimal.com are the GBP equivalent, or in some cases, actually even cheaper! Silver proof, as issued £5 Crown coin to mark the Christening of Princess Charlotte. I bo... £72.00£64.80 Silver proof, as issued £5 Crown coin to mark the 2nd Birthday of Prince George.&nbs...

£90.00£81.00 Original red card box with some light wear on the edges/top, staining on the bottom and looseness wh... £550.00£449.40 Rainbow toned with big areas of dark irredescent purple and pinks (not at all apparent in the scans)... £180.00£144.00 Very attractive natural tone, prooflike obverse fields. Higer value coins are always sent fully insured. £95.00£85.50 A really beautiful coin with natural toned bright lustre and very little actual wear ro report. LVI ... £200.00£160.00 Good protrait, some weak areas on the reverse. TERTIO edge. REDUCED from £300.Higher values coins are always sent fully insured. £270.00£240.00 A few available, of the very best quality. £8.00£6.80 Stunning full lustre, of highest possible quality. A few available. £9.00£8.10 Choice coin with beautiful proof like fields.

The odd minor stain, but I am being very picky, it&#39... £295.00£288.90 Anyone that has glanced at a history book for more than five minutes will probably be aware&nbs... £2.00£1.80 I purchased about 700 of these Indian 1/12th Anna coins. Each is uncirculated, but of the 700, only ... £1.50£0.99 I purchased about 700 of these Indian 1/12th Anna coins. Each is uncirculated, but of the 700, only ... £1.50£0.99 Eire 1968 penny from the last date that were produced before Irish decimalisation. All Irish pre-dec... £1.20£0.99 Round, 28mm card coin tickets, blank on both sides. A shade off-white in colour, these coin tickets...

£1.75£0.99 (Quantity 50)REDUCED IN PRICE FROM JUNE 2016.NEW IMPROVED TYPE: With a slightly higher band for... £2.60£2.99 The British pre-decimal penny was a handsome 3.1cm (1.5in) large Bronze coin from 1860 - 1967, when ... £10.00£8.96 Very odd even 'lustrous' tone. No hairlines so most probably dipped or treated with somethin... £100.00 British Predecimal Denominations British Predecimal Denominations It's very confusing if you're under 50 years of age or not British to get your head round the British Pre-Decimal coinage system. Great Britain and Northern Ireland converted to a decimal currency (100 pennies =£1) in 1971 but before that we had what seems the most confusing illogical denomination system ever! On the right is a brief description of the pre-decimal values and how many of them were contained in a pre-decimal £1.

The £ (pound) stayed the same value after decimalisation. Is this useful? If so, please put a comment in the Forum Farthing: Click here to see a Farthing A farthing was the smallest unit of predecimal currency in the last 100 years. A farthing was one quarter (1/4) of a Penny. The last Farthing was minted in 1956. Half Penny: (plural: Halfpence) Click here to see a Half penny As the name suggests a 'Half Penny' was worth one Half (1/2) of a Penny. So two farthings also make up half a penny. The last half penny for circulation was dated 1967. Penny (or 1d): (plural: Pence) Click here to see a Penny The penny was really the basic unit of currency and had a lot more value than a modern 'New' Penny. There were 240 Pennies in a pre-decimal pound (£). The last penny for circulation was dated 1967.

Threepence (or 3d): Click here to see a Threepence The Threepence, or 'thropence' as it is also referred to was equal to three pennies. There were therefore eighty threepences in a pre-decimal pound (£). The last threepence for circulation was dated 1967. Sixpence (or 6d): Click here to see a Sixpence Also called a 'Tanner'. Obviously worth Six Pennies. There were forty sixpences in a pre-decimal pound (£). The last sixpence for circulation was dated 1967. Shilling (or 1/-): Click here to see a Shilling A shilling was worth twelve pennies. There were 20 in the pre-decimal pound (£). The shilling was replaced by the five new pence (1/20 of a decimal pound (£)). The last shilling for circulation was dated 1967 although they were used as Five pence pieces until the Five new pence (5p) coin was made smaller in 1990.

Florin (or Two Shillings, 2/-): Click here to see a Florin The Florin was worth 24 pre-decimal pence or two shillings. It was introduced by the Victorians in a step towards decimalisation, because it was worth one tenth of a pre-decimal pound (£). The last florin for circulation was dated 1967 although they were used as Ten new pence (10p) until the ten pence coin was made smaller in 1992. Half Crown (Two Shillings and sixpence or 2/6): Click here to see a Half Crown All the previous denominations have been worth double the denomination before them. That stops with the florin, as the Half Crown was worth 30 pre-decimal pence (or two shillings and six pence). There were eight Half Crowns in a pound (£) The last half crown for circulation was dated 1967. Crown (Five Shillings, 5s or 5/-) : Click here to see a Crown A Crown was worth 60 pre-decimal pence or one quarter of a pound (£).

Although in the last 30 years+ of the pre-decimal currency Crowns were really only issued to mark special occasions. Crowns are still minted today and have been asigned a new £5 face value since 1990. Half Sovereign and Sovereign: Click here to see a Sovereign. Sovereigns have a face value of 20 Shillings (or one pound) and Half Sovereigns of 10 Shillings. As they are made of 22ct Gold they have a much higher metal value and were not used as currency in recent years. Chris Perkins 6th January 2003, updated 28th July 2015. The History of Decimalisation in Britain By Ben Johnson | Comments Prior to 1971, there were 12 pennies to the shilling and 20 shillings to the pound. There were guineas, half crowns, threepenny bits, sixpences and florins.

This old system of currency, known as pounds, shillings and pence or lsd, dated back to Roman times when a pound of silver was divided into 240 pence, or denarius, which is where the 'd' in 'lsd' comes from. (lsd: librum, solidus, denarius ). To prepare the nation for the changeover in currency systems, the Decimal Currency Board (DCB) was set up, running a public information campaign in the two years prior to the switchover on Monday 15 February 1971, also known as Decimal Day. Three years before changeover, new 5p and 10p coins were introduced; these were the same size and worth the same amount as the one and two shilling coins. In 1969 a new 50p coin was introduced to replace the old 10 bob (shilling) note. The banks were closed for four days before changeover to prepare. Currency converters were available for everyone, and prices in the shops were shown in both currencies. This went some way to alleviate the feeling many people had, that shopkeepers might use the conversion from old money to new to increase prices!

Cafe price list circa 1960 with prices in shillings and pence 'Decimal Day' ran without a hitch. Although the elderly generation found it more difficult to adapt to decimalisation, in general the population readily embraced the new currency and the oft-used phrase of the 1970’s "How much is that in old money?" is now more commonly used in reference to metrication. For a short time the old and new currencies operated in unison, whereby people could pay in pounds, shillings and pence and receive new money as change. Originally it was planned that old money would be phased out of circulation over eighteen months, but as it turned out, the old penny, halfpenny and threepenny coins were officially taken out of circulation as early as August 1971. from l to r: shilling, farthing, threepenny bit It was originally intended that the new unit of currency would be referred to as ‘new pence’ to distinguish it from the old money, but this was quickly adapted to the abbreviation ‘pee’, which we still use today.

The term ‘decimal currency’ describes any currency that is based on one basic unit with a sub-unit which is a power of 10, most commonly 100, and comes from the Latin word decem, meaning ten. In comparison to the rest of the world, Britain lagged behind in the decimalisation stakes. Having converted to the ruble (equal to 100 kopecks) in 1704, Russia became the world’s first country to adopt a decimal currency, followed by the 1795 introduction of the franc in the wake of the French Revolution. from l to r: sixpence (or tanner), half crown, half penny Whilst Britain and our nearest neighbour Ireland did not convert to decimalisation until 1971, this was not the first time Britain had considered decimalisation. As far back as 1824 Parliament had considered decimalising the British currency.

In 1841,the Decimal Association was founded in support of both decimalisation and use of the SI metric system, the international standard for physical measurements which had been adopted by France in the 1790s and has since been widely introduced across the world (although interestingly the metric system has still not been fully implemented in the UK). However despite the introduction of the two shilling silver florin in 1849, worth one-tenth of a pound, and the double florin (a four-shilling piece) in 1887, there was little development towards decimalisation in Britain for nearly a century. It was not until 1961, in the wake of South Africa’s successful move to decimalisation that the British Government introduced the Committee of the Inquiry on Decimal Currency, whose 1963 report resulted in the final agreement to adopt decimalisation on 1 March 1966, with the approval of the Decimal Currency Act in May 1969. Whilst various names for a new unit of currency had been suggested – such as the new pound, the royal or the noble – it was decided that as a reserve currency, the pound sterling was too important to lose.

Conversion table - decimal and pre-decimal systems Pre-decimal 5/- 25p There are now only two countries in the world who officially continue to use non-decimal currencies. Mauritania still employs the ouguiya, which is equal to five khoums and Madagascans use the ariary, which is equal to five iraimbilanja. However, in reality the khoum and iraimbilanja sub units are so small in value that they are no longer used and the rest of the world’s currencies are either decimal, or use no sub units. Whilst many of our closest neighbours have succumbed to the simplicity of the Euro since it’s induction on 1 January 2002, for now at least the majority of Britons remain faithful to the pound sterling. Whether this is down to a sense of identity or the more altruistic suspicion that goods prices will rise dramatically (or a combination of the two!), whatever the viewpoint it is agreed that there is still a great deal of debate over any change to British currency. As with decimalisation then, perhaps in two hundred years time we will have decided our European counterparts are on to something! Tweet If you enjoyed this article, you might also like...

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It's now over 40 years since the £ s d currency which had been used in the UK and Scotland was swept away and 240 pence to the pound were replaced by 100 new pence to the pound. Decimal Day (15 February 1971) was when the changeover took place. You'll note that in the collection of pre-decimal coins below, there is not a pound coin, far less one for two pounds as we have today. That was because in 1971 there were paper pound notes in circulation and the pound coin was not introduced until 1983 to replace the Bank of England one pound note; the Scottish banks (who are permitted to issue banknots but not coins) continued to issue one pound notes - the Royal Bank of Scotland in particular kept them going, sometimes as special commemorative issues. See Scottish Banknotes . Farthing The word farthing is derived from the Anglo-Saxon feorthing, or fourth part An English penny.

The farthing was first minted in silver in the 13th century and then after the Union of the Scottish and English Parliaments in 1707, a British farthing, made of base metal, was minted in 1714. It continued to be used until 31 December 1960, when they ceased to be legal tender and so were no longer in use by Decimal Day in 1971. Half Penny This coin began its 700 year history made from silver but as the value of silver increased, the coin was made from base metals. "Halfpenny", was pronounced HAY-pe-nee. It was long considered that the first halfpenny coins were produced in the reign of King Edward I (1272�1307), with earlier requirements for small change being provided by "cut coinage" - pennies cut into halves or quarters. However, in recent years metal detectorists have discovered a few halfpennies of Kings Henry I (1100�1135) and Henry III (1216�1272).

The halfpenny ceased to be minted in 1969 prior to decimalisation. Penny The "penny" originated as far back as the 8th century when a silver coin was minted (in England) which was one 240th part of a pound weight of silver. There were thus "240 pennies to a pound (of silver)". Pennies made of silver were minted until about 1750, then occasionally until about 1820; thereafter, they were only minted for Maundy money (when the British Monarch ceremonially distributes small silver coins known as "Maundy money" as symbolic alms to elderly recipients. From 1797, pennies for general circulation were minted in copper. Twelve pence made one shilling and so 240 pennies made a pound. To express an amount, penny was usually abbreviated to "d", e.g. 1d, from the Roman denarius. The penny introduced at decimalisation (with 100 pennies to the pound) was a much smaller coin and was initially called a "new penny" to distinguish it from its predecessor.

The original reverse of the new coin initially had "NEW PENNY" in the design but this changed to just "ONE PENNY" in 1982. "Silver" Threepence The silver three pence coin (expressed in writing as "3d") first appeared in England during the reign of King Edward VI (1547�1553). But it was unpopular as many preferred the four pence piece (known as a "groat") and there were times when it was not minted. During the reign of king George V (1910�1936) the silver content was reduced from sterling silver to a mixture of silver (50%),copper, and nickel and the design was completely changed in 1927 to three oak sprigs with three acorns and a "G" in the centre. By the end of George V's reign the threepence had become somewhat unpopular in England because of its small size, but it remained popular in Scotland. It may be that the custom of putting threepence coins (wrapped in greaseproof paper) into Christmas cakes may have contributed to its continued popularity!

A nickel-brass threepence took over the bulk of the production of the denomination, being produced in all years between 1937 and 1952 except 1947. Only small numbers were produced. Brass Threepence A new, larger, nickel-brass (79% copper, 20% zinc, 1% nickel) twelve-sided threepence coin was introduced at the time of the short reign of King Edward VIII and took over the bulk of the production of the denomination, being produced in all years between 1937 and 1952 except 1947. Initially the design incorporated a representation of the thrift plant but in the reign of Queen Elizabeth II the design became a Tudor portcullis with chains and a coronet. Following decimalisation, the brass threepence ceased to be legal tender after 31 August 1971. Sixpence The sixpence, worth six pre-decimal pennies, was known colloquially as a "tanner".

In England, the first sixpences were struck in the reign of Edward VI in 1551 and continued until they were rendered obsolete by decimalisation in 1971.The last general issue sixpence was issued in 1967 but sixpences continued to be legal tender at a value of 2� new pence until 30 June 1980. The coins were made of sterling silver until 1920, when they were reduced to 50 percent silver until 1946, after which they were changed to cupro-nickel from 1947 onwards. As the supply of silver threepence coins slowly disappeared, sixpences replaced them as the coins put into Christmas puddings. The traditional song "I've Got Sixpence" runs: "I've got sixpence. Jolly, jolly sixpence. I've got sixpence to last me all my life.

I've got twopence to spend and twopence to lend And twopence to send home to my wife." Shilling The word shilling comes from scilling, an accounting term that dates back to Anglo-Saxon times where it was deemed to be the value of a cow in Kent or a sheep elsewhere. The abbreviation for shilling is the letter "s", from the Latin solidus, the name of a Roman coin. In England, a shilling coin was used from the reign of Henry II (or Edward VI ca 1550) until the Acts of Union ended the Kingdom of England (when, in the terms of Article 16 of the Articles of Union created by the Acts of Union of 1707, a common currency for the new United Kingdom was created). Because the shilling had the king's head on it, when a man agreed "to take the King's shilling" (or the Queen's shilling as the case may be) it meant that he agreed to serve as a soldier or sailor. Following decimalisation the British shilling was superseded by the five-pence piece with a comparable value, size and weight.

The pre-decimal shilling was withdrawn from circulation in 1990, when a five pence piece of reduced size was introduced. Two Shillings (Florin) The British two shilling coin, also known as the florin or "two bob bit" was issued from 1849 until 1967. It was worth one tenth of a pound, or twenty-four old pence. In 1847 a motion had been introduced in Parliament calling for the introduction of a decimal currency and the issue of coins of one-tenth and one-hundredth of a pound. The motion was subsequently withdrawn on the understanding that a one-tenth pound coin would be produced to test public opinion. There was considerable discussion about what the coin should be called, with centum, decade, and dime being among the suggestions. Eventually, florin was eventually settled upon, partly because of its connection with old English coinage, and partly because other European countries also had coins of approximately the same size and weight called florins.

In the reign of Queen Victoria a new design for the florin is said to have shock, including (allegedly) to Queen Victoria herself, was the omission of D G � Dei Gratia ("by the grace of God") � from the coin's inscription, which resulted in it being popularly known as the godless florin. The two shilling pieces produced in the reign of Queen Elizabeth II had the reverse showing a Tudor rose in the centre surrounded by thistles, shamrocks, and leeks, symbols for Scotland, Ireland and Wales. Half Crown This oddity, as the name suggests, was worth half of a crown, or equivalent to two and a half shillings (30 pennies). It has a long history, having been issued (in silver) as early as 1549, in the reign of Edward VI. The half crown was demonetised (ahead of other pre-decimal coins) on 1 January 1970, the year before the United Kingdom adopted decimal currency on Decimal Day.

In the reign of George VI (1937�1952), half crowns were 50% silver until 1946 when the metal was changed to cupro-nickel. Crown Although issued in England prior to the unification of Scotland and England, the British crown came into being with the Union of the Parliaments of England and Scotland in 1707. As with the English coin, its value was five shillings, which was a quarter of one pound. During the 19th and 20th centuries the Crown declined from being a real means of exchange to being a coin rarely spent but minted for commemorative purposes only. In that format it has continued to be minted into the 21st century, even following decimalization of the British currency in 1971. However, as the result of inflation the value of such crowns has been revised upwards to five pounds. The picture here is of the crown issued in 1953 and 1960 in Queen Elizabeth II's reign.

Decimalisation When computers came in the scene in the late 1950s and 1960s, they had to be programmed to deal with pounds, shillings and pence. Most systems converted values to pennies for internal working and converted them back to £,s,d when printed out or displayed on a computer screen. This was before pocket calculators had come on the scene - they would have struggled with £ s d.. But gradually, a decimal currency was seen to be more efficient. Of course, there was an emotional resistance from some to the loss of the traditional monetary system. Computer systems, banks and retailers had to prepare for the conversion well in advance of the cutover in 1971, not just for new and updated programs but also to train their staff in the new coins. As with the run-up to the Millennium, nearly 30 years later, all the hard work and preparations paid off and the changeover took place smoothly.

Banks were closed from 3:30pm on Wednesday, 10 February 1971 until 10:00am on Monday 15 February, to enable all outstanding cheques and credits in the clearing system to be processed and customers' account balances to be converted to decimal. New pennies and half penny coins were introduced but the old coins were temporarily assigned new values - the florin became 10 new pence, the shilling became 5 new pence and the old sixpenny coin filled a role as 2.5 new pence for a short while. To avoid confusion with the old currency, the term "New Pence" was brought into use with the letter "p" instead of the previous "d". Fairly rapidly, the general public dropped the word "new" and prices became what sounded like, for example "99 pee". Decimal Day itself went smoothly and after February 15, shops continued to accept payment in old coins, but always issued change in new coins. Use the "Back" button on your browser or click here to return to the Index of "Did You Know?" Where else would you like to go in Scotland?

Links Pages The British Monetary System before Decimalization The British Monetary System before Decimalization G. Vinton Palazzolo asked a question on the Calendar Mailing List about the practicality of the mixed-radix calendar calculation system of the Classic Maya. I responded by saying, “Don’t forget the British Monetary System before decimalization, which is the classic example of a complex mixed-radix counting system in constant, daily use for hundreds of years.” Naturally, she asked me to explain this monetary system, and when it was decimalized. Since I use this as an example all the time, I thought I had better do some research, find out, and write it up. I wish to acknowledge the assistance of Alan McLaren, who grew up in Australia before the switch to dollars, and was able to fill in some gaps for me. Also, thanks to Jeremy Smith, who so kindly allowed me to use parts of his dictionary Definitions The following excerpts from the British->American Dictionary page are used with the permission of Jeremy Smith, ~jeremy/dictionary/lexe-a.html . £ (a Latin L): pound, symbol for pounds sterling. 1971 was the year of decimalization of the British currency when a pound became 100 new pennies.

Prior to that a pound was 20 shillings, a shilling twelve pence (pennies) and the smallest division of a penny was a farthing. It is written £/s/d and £/s/- for even shillings. From 1776 till WWII £1 fluctuated between $3-$5 (1864 peak of $12). Since WWII it has fluctuated around $2 when 1d was 1¢ (low of $1.04 in 1985). Hence, the slang ‘dollar’ for 5/- and ‘half a dollar’ was accurate until the early 70s. £sd /el es dee/ n: ‘pounds, shillings, and pence’, money in general, and the British monetary system in particular prior to decimalization (4 farthings = 1 penny, 12 pence = 1 shilling, 2 shillings = 1 florin, 5 shillings = 1 crown, 20 shillings = 1 pound (sovereign), 21 shillings = 1 guinea).

decimalization n: the changeover from £sd to decimal currency (100 new pence = £1), initiated in 1968 with introduction of 5p and 10p coins and completed by 1971 with the ½p, 1p, 2p, 20p and 50p, where 100p = £1. The official start of the new currency was February 15th, 1971. The old currency stopped being used about 6 months later, although the changeover period was originally scheduled to last a year. The 5p and 10p coins were the same size as the old 1/- and 2/- coins, and no attempt was made to withdraw these old coins from circulation, to the confusion of the visitor. However, in 1990 and 1992 new, smaller, coins for 5p and 10p were introduced, and the old ones withdrawn a year or so later. The only pre-decimalisation coins still being minted are the crowns (5/-) occasionally minted to mark special occasions.

dollar sl n: Decimal Coins of the UK - The Change to Decimal Coinage The Change to Decimal Coinage Pictures of Decimal Coins Decimalisation Day D-Day was February 15th 1971. On that day the United Kingdom changed from the centuries old tradition of using 12 pence to the shilling and 20 shillings to the pound to a new decimal 100 new pence to the pound. Options considered There had been much debate as to the best way of implementing the switch. Australia used a dollar valued at ten old shillings, making the new cent equal to 1.2 old pence, a small change in value. An alternative was to go to a pound-mil system, with a mil equal to 0.24 old pence, a latter-day successor to the farthing. Another was to keep the penny and have a new unit at 100 pence (eight shillings and fourpence). However, in the UK the pound was considered to be particularly important because of the UK's international trading status. In addition, having a new penny worth 2.4 old pence was less of a problem as inflation had made its purchasing power insignificant.

As a temporary measure a half new penny was introduced, but as will be seen this had a short life. There was even a pattern quarter penny made in aluminium, but this was not proceeded with. It was realised at the time that the decision was made that the life of the halfpenny would be very short, but it was felt necessary despite the considerable extra cost of having to mint the coin. Banks never accepted transactions involving an odd halfpenny. The Timetable for the Change The change was made gradually over three years, in a number of stages. In 1968 new shillings and florins were issued as 5 new pence and 10 new pence coins. The older shillings and florins continued to circulate long after decimalisation until the size of the coins was reduced. Theoretically silver coins from 1816 could still have been found in change, but the active withdrawal of silver in the years following the change in 1947, followed by the combination of a dramatic rise in the price of silver with devaluation in 1967 meant that silver coins rapidly vanished from circulation.

Blue plastic wallets containing the new 5p and 10p coins dated 1968, along with 1/2p, 1p and 2p coins dated 1971 were put on sale. These wallets are still very common. In October 1969 the 50 new pence piece replaced the 10 shilling note, which ceased to be legal tender on 22nd November 1970. The old halfpenny was demonetised on 1st August 1969. The half-crown was demonetised on 1st January 1970. The remaining decimal coins became legal tender on 15th February 1971. Maundy coins (and silver threepenny pieces of Maundy design, i.e. with a crowned three on the reverse) were revalued as being in new pence at the same time.

The changeover was so rapid that the old penny and nickel brass threepence pieces had been removed from circulation by the end of 1971, although I know of one shop in the Yorkshire Dales which continued to use the old currency for a long time on the basis that 'this new-fangled stuff will never catch on'. The old penny and threepence coins ceased to be legal tender on 31st August 1971, just over six months after D-day. It is no longer possible to exchange them for current coins at a bank. Later Developments The sixpence , which was allowed to continue circulating at 2½ new pence, was eventually withdrawn at the end of June 1980. I am indebted to Brian Dominic for the following quote from John Glover's book "London's Underground": "The adoption of decimal currency on 15 February 1971 posed a few problems for London Transport, which had favoured the £ Sterling being halved in value and divided into 100 pence - what today might be termed a '50p pound'.

With their extensive use of coin operated machines, the Board took strong exception to the proposed introduction of ½p coins, the lack of any coin between 2p and 5p, and the lack of a close relationship of old values and coins with the new. It was all too difficult for them, and it was indeed at London Transport's behest that the 2½p (sixpence) was retained in the coinage for the time being." The term 'New Penny' was dropped in 1982 on the grounds that after ten years it was no longer 'new'. In that year a new denomination, the 20p coin was introduced. It has proved very popular, and is one of the most frequently encountered coins in change. The pound coin was first issued in 1983. Again, there was a little resistance to the change from note to coin, but cessation of production of the pound note rapidly overcame the objections and the coin is now very well established. The notes were demonetised on 11th March 1988. The half penny coin was last minted for circulation in 1983.

In 1984 the denomination was only issued in Mint and Proof Sets and in December 1984 the coin was demonetised, as inflation had rendered it an anachronism. In 1985 a new portrait came into use, designed by Raphael David Maklouf, although the portrait on the Maundy coins was unchanged. Commemorative two pound coins were first issued in 1986, but although legal tender they rarely circulated (some are appearing in change now that the bimetallic circulating coin has been introduced, but as they are about twice the weight of circulating coins, banks have difficulty handling them). Crown sized commemorative coins valued at 25 pence continued to be minted, but after the Royal Wedding issue of 1981 later 'crowns' were valued at five pounds . This is a source of confusion, but the way to be sure is to know that if they are five pound coins they have the value on them.

It was intended that a new two pound coin of the same diameter but thinner than the commemorative versions be introduced in November 1997, but due to technical problems (vending machines rejected them), the introduction was delayed until 1998. This new coin is bimetallic, being the first such coin to be issued in the UK since the tin farthings and halfpennies of the late 17th century. It is the subject of an urban legend, in that a rumour is going the rounds that those coins where the queen is wearing a necklace are rare. This is most definitely untrue, but hoarding of these coins means they not often found in change. In 1998 a further new obverse portrait was introduced, designed by Ian Rank-Broadley, which is still in use nearly ten years later. In 2008 a new set of reverse designs has been revealed, which, in the words of the Royal Mint, 'are a contemporary take on traditional heraldry reflecting the nation's rich history'.

These designs apply only to the denominations from 1 penny to 1 pound, and I have been told that both the old and the new reverse designs will be put into circulation dated 2008. Metal Change In 1992 the metal used for the one penny and two penny coins was changed from bronze to copper coated steel. The use of a pure copper coating means that the colour of mint coins is slightly different. Also, as the density of steel is less than bronze and the weight was unchanged, the newer coins are noticeably thicker than the older ones. The versions of these coins issued in the 1992 Mint and Proof sets are said to be bronze - only the circulation issue coins of that date were steel. In 1998 the 2p (and possibly the 1p) temporarily reverted to bronze because of technical problems at the Royal Mint. In 2011 the 5p and 10p coins will change to being made of plated steel as the lower denominations. Perhaps the 20p and 50p will follow, but the sharper corners of these seven-sided coins may mitigate against this.

Shrinkage As a result of inflation the coins based on the old system, the five pence and ten pence , were increasingly seen as oversized for their value. In 1990 a new smaller version of the 5p coin was introduced, and the old large ones along with the shillings that were still to be found were demonetised at the end of that year. The same technique was used for the 10p coin in 1992, with the old size 10p and florin being demonetised at the end of June 1993. Frustratingly, the new 10p is similar in size to the old large 5p, and very occasionally you get fooled! The next was the 50p coin , which was reduced in size in 1997. This also reduced the enormous stock of the larger coins held in banks due to a reduction in demand after the introduction of the pound coin. A similar problem with the pound coin now that the circulating two pound coin has come into use did occur only to the extent that new one pound coins were not issued for circulation dated 1998 and 1999.

A new series of 'normal' non-commemorative designs were released in 2008 for all except the two pound coin. As these were not announced until well into the year, coins up to one pound dated 2008 come in both the original 1968/1971 designs and the new 2008 design. The 2008 50p with Britannia reverse had a very low mintage - I have only seen one in circulation. Starting in 2009, an enormous variety of coins of various denominations are being issued in connection with the 2012 Olympics in London. The Future The penny and twopence coins have become ever more insignificant in value in everyday transactions. However, these two denominations comprise the largest bulk of new coins minted at the Royal Mint, no less than 71% in 1998-99. The reason for this is simple - they are hoarded because of their low value, with pockets and purses being emptied of these relatively heavy coins each day. Australia and New Zealand have both abandoned the 1 and 2 cent coins, with no significant effect on either trade or inflation.

Cash transactions are rounded to the nearest 5 cents, while credit card transactions and cheques can still be written for odd cents. How soon will the UK bow to the inevitable and demonetise the 'coppers'? Legal Tender The following applies to England and Wales: 20p and 50p coins are legal tender up to a total value of 10 pounds. 5p and 10p coins are legal tender up to a total value of 5 pounds. 1p and 2p coins are legal tender up to a total of 20 pence. Therefore you cannot insist on paying your Income Tax (or other unpopular bill) in 1p coins! While five pound coins and old monometallic thick two pound coins are technically legal tender, banks do not accept them. As a result you might find it difficult to find traders willing to accept them. I gather that Scotland does not have any legal restriction, other than that payment should be presented in a reasonable manner. Tendering a large sum in pennies might not be considered 'reasonable', but the boundary between reasonable and unreasonable is not defined!

Acknowledgements See my Coins Index page for acknowledgements CSV File of Values Download a CSV file of the values of decimal coins. Links Pre-decimal currency A guide for those not old enough to remember "proper" money If you're younger than about 50 and you've been looking at our faretables , you may not understand the currency. Until 15th February 1971, the British currency was not decimalised. The basic units were the pound, the shilling, and the penny. These were represented by the letters L, S and D respectively, from the Latin libra, solidus and denarius (the pound sign ï¿½ that we still use today is simply an elaborate 'L'). There were 12 pennies in a shilling, and 20 shillings in the pound, hence 240 pence in a pound. Where you see amounts written like 1/6 in the faretables, this represents one shilling and sixpence. 2/9 represents two shillings and ninepence, and so on. 2/- means two shillings exactly.

Today, people will say the cost of something is "55 pee", for example, but in the pre-decimal era they did not say "7 dee". Amounts were always expressed as, for example, "sevenpence", "three and fourpence" (for three shillings and four pence), or "one pound seven and six." So if you wanted to travel from Bristol to Stroud on route 400 in 1959, the conductor would have asked you for "three and six, please," meaning thee shillings and sixpence (17.5p in today's money, but worth about ï¿½2.70 at today's prices). The coins themselves tended to be far larger than the modern ones: a penny was one and three-sixteenths of an inch across, bigger than any current coin including the ï¿½2 coin. The sixpence coin was slightly larger than the current 5p and the shilling slightly larger than a modern 10p coin. Part of the reason for their larger size was that they were worth a lot more.

For example, in 1960 a Penguin paperback book would probably have cost you 2/6, and today a similar book would probably cost ï¿½7 or ï¿½8. In 1959 a single bus ticket from Bristol to Chipping Sodbury on route 131 would have cost you 1/5, and today would cost somewhere around ï¿½4. This suggests that both books and bus ticket prices have risen faster than inflation, since 1/5 would be worth ï¿½1.08 today according to the National Archives' currency converter (this is a great site allowing price comparisons from the year 1270 onward). The other thing about the coins is that because they had remained unchanged for many years, you would find them with a variety of sovereign's heads on them, not just the Queen. Below are some examples, showing the Queen herself (looking rather younger), and Kings George V and George VI. ExchangeRate.com - Currency Information British Pound The pound sterling is the world's oldest currency still in use. Anglo-Saxon The origins of sterling lie in the reign of King Offa of Mercia, who introduced the silver penny.

It copied the denarius of the new currency system of Charlemagne's Frankish Empire. As in the Carolingian system, 240 pennies weighed 1 pound (corresponding to Charlemagne's libra), with the shilling corresponding to Charlemagne's solidus and equal to 12d. At the time of the penny's introduction, it weighed 22.5 troy grains of fine silver (30 tower grains; about 1.5 g), indicating that the Mercian pound weighed 5,400 troy grains (the Mercian pound became the basis of the tower pound, which weighed 5,400 troy grains, equivalent to 7,200 tower grains). At this time, the name sterling had yet to be acquired. The penny swiftly spread throughout the other Anglo-Saxon kingdoms and became the standard coin of what was to become England. Medieval The early pennies were struck from fine silver (as pure as was available). However, in 1158, a new coinage was introduced by King Henry II (known as the Tealby penny) which was struck from .925 (92.5%) silver.

This became the standard until the 20th century and is today known as sterling silver, named after its association with the currency. Sterling silver is harder than the fine silver (i.e. 0.999/99.9% pure, etc) that was traditionally used and so sterling silver coins did not wear down as rapidly as fine silver coins. The English currency was almost exclusively silver until 1344, when the gold noble was successfully introduced into circulation. However, silver remained the legal basis for sterling until 1816. In the reign of Henry IV (1412–1421), the penny was reduced in weight to 15 grains (0.97 g) of silver, with a further reduction to 12 grains (0.78 g) in 1464. Tudor During the reigns of Henry VIII and Edward VI, the silver coinage was drastically debased, although the pound was redefined to the troy pound of 5,760 grains (373 g) in 1526.

In 1544, a silver coinage was issued containing just one third silver and two thirds copper—equating to .333 silver, or 33.3% pure. The result was a coin copper in appearance, but relatively pale in colour. In 1552, a new silver coinage was introduced, struck in sterling silver. However, the penny's weight was reduced to 8 grains (0.52 g), meaning that 1 troy pound of sterling silver produced 60 shillings of coins. This silver standard was known as the "60-shilling standard" and lasted until 1601 when a "62-shilling standard" was introduced, reducing the penny's weight to 7 23⁄31 grains (0.50 g). Throughout this period, the size and value of the gold coinage fluctuated considerably. Unofficial gold standard In 1663, a new gold coinage was introduced based on the 22 carat fine guinea.

Fixed in weight at 44½ to the troy pound from 1670, this coin's value varied considerably until 1717, when it was fixed at 21 shillings (21/-, 1.05 pounds). However, despite the efforts of Sir Isaac Newton, Master of the Mint, to reduce the guinea's value, this valuation overvalued gold relative to silver when compared to the valuations in other European countries. British merchants sent silver abroad in payments whilst goods for export were paid for with gold. As a consequence, silver flowed out of the country and gold flowed in, leading to a situation where Great Britain was effectively on a gold standard. In addition, a chronic shortage of silver coins developed. Establishment of modern currency The Bank of England was formed in 1694, followed by the Bank of Scotland a year later. Both began to issue paper money. Currency of the United Kingdom The pound scots had begun equal to sterling but had suffered far higher devaluation until being pegged to sterling at a value of 12 pounds scots = 1 pound sterling.

In 1707, the Kingdom of England and the Kingdom of Scotland merged to form the United Kingdom of Great Britain. In accordance with the Treaty of Union, the currency of the 'united kingdom' was sterling with the pound scots being replaced by sterling at the pegged value. Gold standard During the Revolutionary and Napoleonic wars, Bank of England notes were legal tender and their value floated relative to gold. The Bank also issued silver tokens to alleviate the shortage of silver coins. In 1816, the gold standard was adopted officially, with the silver standard reduced to 66 shillings (66/-, 3.3 pounds), rendering silver coins a "token" issue (i.e., not containing their value in precious metal). In 1817, the sovereign was introduced. Struck in 22-carat gold, it contained 113 grains (7.3 g) of gold and replaced the guinea as the standard British gold coin without changing the gold standard.

In 1825, the Irish pound, which had been pegged to sterling since 1801 at a rate of 13 Irish pounds = 12 pounds sterling, was replaced, at the same rate, with sterling. During the late 19th and early 20th centuries, many other countries adopted the gold standard. As a consequence, conversion rates between different currencies could be determined simply from the respective gold standards. The pound sterling was equal to 4.85 U.S. dollars, 4.89 Canadian dollars, 12.10 Dutch Guilders, 25.22 French francs (or equivalent currencies in the Latin Monetary Union), 20.43 German Marks or 24.02 Austro-Hungarian Krones. Discussions took place following the 1865 International Monetary Conference in Paris concerning the possibility of the UK joining the Latin Monetary Union and a Royal Commission on International Coinage examined the issues,resulting in a decision against joining monetary union. The gold standard was suspended at the outbreak of the war in 1914, with Bank of England and Treasury notes becoming legal tender.

Prior to World War I, the United Kingdom had one of the world's strongest economies, holding 40% of the world's overseas investments. However, by the end of the war the country owed £850 million (£30.7 billion as of 2010)., mostly to the United States, with interest costing the country some 40% of all government spending. In an attempt to resume stability, a variation on the gold standard was reintroduced in 1925, under which the currency was fixed to gold at its pre-war peg, although people were only able to exchange their currency for gold bullion, rather than for coins. This was abandoned on 21 September 1931, during the Great Depression, and sterling suffered an initial devaluation of some 25%. Use in the Empire Sterling circulated in much of the British Empire. In some parts, it was used alongside local currencies. For example, the gold sovereign was legal tender in Canada despite the use of the Canadian dollar. Several colonies and dominions adopted the pound as their own currency.

These included Australia, Barbados, British West Africa, Cyprus, Fiji, Irish Free State, Jamaica, New Zealand, South Africa and Southern Rhodesia. Some of these retained parity with sterling throughout their existence (e.g. the South African pound), whilst others deviated from parity after the end of the gold standard (e.g. the Australian pound). These currencies and others tied to sterling constituted the Sterling Area. Bretton Woods In 1940, an agreement with the U.S.A. pegged the pound to the U.S. dollar at a rate of £1 = $4.03. This rate was maintained through the Second World War and became part of the Bretton Woods system which governed post-war exchange rates. Under continuing economic pressure, and despite months of denials that it would do so, on 19 September 1949 the government devalued the pound by 30.5% to $2.80. The move prompted several other currencies to be devalued against the dollar. In the mid-1960s, the pound came under renewed pressure since the exchange rate against the dollar was considered too high.

In the summer of 1966, with the value of the pound falling in the currency markets, exchange controls were tightened by the Wilson government. Among the measures, tourists were banned from taking more than £50 out of the country, until the restriction was lifted in 1979. The pound was eventually devalued by 14.3% to $2.40 on 18 November 1967. Decimalisation On 15 February 1971, the UK decimalised, replacing the shilling and penny with a single subdivision, the new penny. The word "new" was omitted from coins after 1981. Free-floating pound With the breakdown of the Bretton Woods system—the pound floated from August 1971 onwards. It at first appreciated a little, rising to almost $2.65 in March 1972, from 2.42 when it had been fixed. The Sterling Area effectively ended at this time when the majority of its members also chose to float freely against the pound and the dollar. The 1976 sterling crisis James Callaghan came to power in 1976.

He was immediately told the economy was facing huge problems, according to documents released in 2006 by the National Archives.Financial markets were losing confidence in sterling. The UK treasury could not balance its books, while Labour's strategy emphasised high public spending. Callaghan was told there were three possible outcomes: a disastrous free fall in Sterling, an internationally unacceptable siege economy or a deal with key allies to prop up the pound while painful economic reforms were put in place. 1979-1989 The Conservatives arrived in power in 1979, on a programme of fiscal austerity. The pound rocketed, moving above the $2.40 level, as interest rates rose in response to the monetarist policy of targeting money supply. The high exchange rate was widely blamed for the deep recession of 1981. Sterling fell sharply after 1980. At its lowest, the pound stood at just $1.03 in March 1985, before returning to the US$1.70 level in December 1989.

Following the Deutsche Mark In 1988, Margaret Thatcher's Chancellor of the Exchequer Nigel Lawson decided that the pound should "shadow" the West German Deutsche Mark, with the unintended result of a rapid rise in inflation as the economy boomed due to inappropriately low interest rates. (For ideological reasons, the Conservative Government declined to use alternative mechanisms to control the explosion of credit. For this reason, former Prime Minister Edward Heath referred to Lawson as a "one club golfer"). Following German re-unification in 1989, the reverse held true, as high borrowing costs to fund Eastern reconstruction, a need exacerbated by the political choice to make the ostmark equivalent to the deutschemark, meant rates in other countries shadowing the DM, especially the UK, far too high relative to the domestic circumstances, leading to a housing decline and recession. Following the European Currency Unit On 8 October 1990 the Conservative government decided to join the European Exchange Rate Mechanism (ERM), with the pound set at DM2.95. However, the country was forced to withdraw from the system on “Black Wednesday” (16 September 1992) as Britain’s economic performance made the exchange rate unsustainable.

Speculator George Soros famously made approximately US$1 billion from shorting the pound. 'Black Wednesday' saw interest rates jump from 10% to 15% in an unsuccessful attempt to stop the pound from falling below the ERM limits. The exchange rate fell to DM2.20. Proponents[who?] of a lower GBP/DM exchange rate were vindicated as the cheaper pound encouraged exports and contributed to the economic prosperity of the 1990s Following inflation targets In 1997, the newly elected Labour government handed over day-to-day control of interest rates to the Bank of England (a policy that had originally been advocated by the Liberal Democrats). The Bank is now responsible for setting its base rate of interest so as to keep inflation in the Consumer Price Index (CPI) very close to 2%. Should CPI inflation be more than one percentage point above or below the target, the governor of the Bank of England is required to write an open letter to the Chancellor of the Exchequer explaining the reasons for this and the measures which will be taken to bring this measure of inflation back in line with the 2% target.

On 17 April 2007, CPI inflation was reported at 3.1% (inflation of the Retail Prices Index was 4.8%). Accordingly, and for the first time, the Governor had to write publicly to the government explaining why inflation was more than one percentage point higher than its target. Euro As a member of the European Union, the United Kingdom could adopt the euro as its currency. However, the subject remains politically controversial. Gordon Brown, then Chancellor of the Exchequer, ruled out membership for the foreseeable future, saying that the decision not to join had been right for Britain and for Europe. The government of former Prime Minister Tony Blair had pledged to hold a public referendum to decide on membership should "five economic tests" be met, to ensure that adoption of the euro would be in the national interest. In addition to these internal (national) criteria, the UK would have to meet the EU's economic convergence criteria (Maastricht criteria), before being allowed to adopt the euro. Currently, the UK's annual government deficit, as a percentage of the GDP, is above the defined threshold.

In February 2005, 55% of British citizens were against adopting the currency, with 30% in favour.The idea of replacing the pound with the euro has been controversial with the British public, partly because of the pound's identity as a symbol of British sovereignty and because it would, according to critics, lead to suboptimal interest rates, harming the British economy. In December 2008 the results of a BBC poll of 1000 people suggested that 71% would vote no, 23% would vote yes to joining the European single currency, while 6% said they were unsure.The pound did not join the Second European Exchange Rate Mechanism (ERM II) after the euro was created. Denmark and the UK have opt-outs from entry to the euro. Technically, every other EU nation must eventually sign up. The Scottish Conservative Party claims that there is an issue for Scotland in that the adoption of the euro would mean the end of regionally distinctive banknotes, as the euro banknotes do not have national designs.The Scottish National Party claims an independent Scotland would have nationally distinctive coins, and its party policy includes entry into the single currency.

On 1 January 2008 the British sovereign bases on Cyprus (Akrotiri and Dhekelia) began using the euro (along with the rest of the Republic of Cyprus) Current exchange value The pound and euro fluctuate in value against one another, although there may be correlation between movements in their respective exchange rates with other currencies such as the US dollar. Inflation concerns in the UK led the Bank of England to raise interest rates in late 2006 and 2007. This caused the pound to appreciate against other major currencies, and with the US dollar depreciating at the same time, the pound hit a 15-year high against the US dollar on 18 April 2007, having reached US$2 for the first time since 1992 the day before.The pound and many other currencies continued to appreciate against the dollar, and sterling hit a 26-year high of $2.1161 on 7 November 2007 as the dollar fell worldwide.

From mid-2003 to mid 2007, the pound/euro rate remained rangebound (within ± 5%) of €1.45.However, following the global financial crisis in late 2008, the pound has since depreciated at one of the fastest rates in history, reaching a 24-year low of $1.35 per £1 on 23 January 2009 and falling below €1.25 against the euro in April 2008.A further decline was seen during the remainder of 2008; most dramatically in December when its euro rate hit an all-time low at €1.0219 (29th).The pound appreciated in early 2009 reaching a peak in mid-July of €1.17. The following months saw a steady decline, with the pound's current (Feb '10) value at €1.14 and USD$1.56. On 5 March 2009, the Bank of England announced that they would pump £75 billion of new capital into the British economy, through a process known as quantitative easing.

This is the first time in the United Kingdom's history that this measure has been used, although the Bank's Governor Mervyn King suggested it was not an experiment. The process sees the Bank of England creating new money for itself, which it then uses to purchase assets such as government bonds, bank loans, or mortgages.The initial amount stated to be created through this method was £75 billion, although Chancellor of the Exchequer Alistair Darling had given permission for up to £150 billion to be created if necessary.It is thought the process is likely to occur over a period of three months with results only likely in the long term. By 5 November 2009, some £175 billion had been injected using quantitative easing and the effectiveness of the process remains questionable. The Bank of England has stated that the decision has been taken to prevent the rate of inflation falling below the two percent target rate.[33] Mervyn King, the Governor of the Bank of England, also suggested there were no other monetary options left as interest rates have already been cut to their lowest level ever of 0.5% and it was unlikely they would be cut further.

Coins Pre-decimal The silver penny (plural:pence; abbr.: 'd') was the principal and often sole coin in circulation from the 8th century until 13th century. Although some fractions of the penny were struck (see farthing and halfpenny), it was more common to find pennies cut into halves and quarters to provide smaller change. Very few gold coins were struck, with the gold penny (worth 20 silver pence) a rare example. However, in 1279, the groat, worth 4d was introduced, with the half groat following in 1344. 1344 also saw the establishment of a gold coinage with the introduction (after the failed gold florin) of the noble worth six shillings and eight pennce ('6/8') (i.e. 3 to the pound), together with the half and quarter noble. Reforms in 1464 saw a reduction in value of the coinage in both silver and gold, with the noble renamed the ryal and worth 10/- (i.e. 2 to the pound) and the angel introduced at the noble's old value of 6/8.

The reign of Henry VII saw the introduction of two important coins, the shilling (abbr,: 's') (known as the testoon) in 1487 and the pound (known as the sovereign, abbr.: '£' or 'L') in 1489. In 1526, several new denominations of gold coins were added, including the crown and half crown worth five shillings ('5/-'), and two shillings and six pence ('2/6', 'two and six') respectively. Henry VIII's reign (1509–1547) saw a high level of debasement which continued into the reign of Edward VI (1547–1553). However, this debasement was halted in 1552 and a new silver coinage was introduced, including coins for 1d, 2d, 3d, 4d and 6d, 1/-, 2/6 and 5/-. The reign of Elizabeth I (1558–1603) saw the addition of silver ¾d and 1½d coins, although these denominations did not last.

Gold coins included the half crown, crown, angel, half sovereign and sovereign. Elizabeth's reign also saw the introduction of the horse-drawn screw press to produce the first "milled" coins. Following the succession of the Scottish King James VI to the English throne, a new gold coinage was introduced, including the spur ryal (15/-), the unite (20/-) and the rose ryal (30/-). The laurel, worth 20/-, followed in 1619. The first base metal coins were also introduced, tin and copper farthings. Copper halfpenny coins followed in the reign of Charles I. During the English Civil War, a number of siege coinages were produced, often in unusual denominations. Following the restoration of the monarchy in 1660, the coinage was reformed, with the ending of production of hammered coins in 1662. The guinea was introduced in 1663, soon followed by the ½, 2 and 5 guinea coins.

The silver coinage consisted of denominations of 1d, 2d, 3d, 4d and 6d, 1/-, 2/6 and 5/-. Due to the widespread export of silver in the 18th century, the production of silver coins gradually came to a halt, with the half crown and crown not issued after the 1750s, the 6d pence and 1/- stopping production in the 1780s. One response was the introduction of the copper 1d and 2d coins and the gold ⅓ guinea (7/-) in 1797. The copper penny was the only one of these coins to survive long. To alleviate the shortage of silver coins, between 1797 and 1804, the Bank of England counterstamped Spanish dollars (8 reales) and other Spanish and Spanish colonial coins for circulation. A small counterstamp of the King's head was used. Until 1800, these circulated at a rate of 4/9 for 8 reales. After 1800, a rate of 5/- for 8 reales was used.

The Bank then issued silver tokens for 5/- (struck over Spanish dollars) in 1804, followed by tokens for 1/6 and 3/- between 1811 and 1816. In 1816, a new silver coinage was introduced in denominations of 6d, 1/-, 2/6 and 5/-. The crown was only issued intermittently until 1900. It was followed by a new gold coinage in 1817 consisting of 10/- and £1 coins, known as the half sovereign and sovereign. The silver 4d coin was reintroduced in 1836, followed by the 3d ("thruppence") in 1838, with the 4d coin issued only for colonial use after 1855. In 1848, the 2/- florin was introduced, followed by the short-lived double florin in 1887. In 1860, copper was replaced by bronze in the farthing (quarter penny, 1⁄4d), halfpenny and penny.

During the First World War, production of the half sovereign and sovereign was suspended and, although the gold standard was restored, the coins saw little circulation again. In 1920, the silver standard, maintained at .925 since 1552, was reduced to .500. In 1937, a nickel-brass 3d coin was introduced, with the last silver 3d coins issued seven years later. In 1947, the remaining silver coins were replaced with cupro-nickel. Inflation caused the farthing to cease production in 1956 and be demonetised in 1960. In the run-up to decimalisation, the halfpenny and half-crown were demonetised in 1969. Decimal British coinage timeline: 1968: The first decimal coins were introduced. These were cupro-nickel 5p and 10p coins which were equivalent to and circulated alongside the 1/- and 2/- coins. 1969: The curved equilateral heptagonal cupro-nickel 50p coin replaced the 10/- note.

1971: The decimal coinage was completed when decimalisation came into effect in 1971 with the introduction of the bronze ½p, 1p and 2p coins and the withdrawal of the 1d and 3d coins. 1980: Withdrawal of 6d coins, which had circulated at a value of 2½p. 1982: The word "new" was dropped from the coinage and a 20p coin was introduced. 1983: A £1 coin was introduced. 1983: The ½p coin was last produced. 1984: The ½p coin was demonetised 1990s: The 5p, 10p and 50p coins became smaller. 1991: The old 1/- coins, which had continued to circulate with a value of 5p, were demonetised in 1991 after the 5p coin became smaller. 1992: Bronze was replaced with copper-plated steel 1993: The 2/- coins were similarly demonetised.

1998: The bi-metallic £2 coin was introduced. 2007: By now the value of copper in the pre-1992 1p/2p coins (which are 97% copper) exceeded the value to such an extent that melting down the coins by entrepreneurs was becoming worthwhile (with a premium of up to 11%, with smelting costs reducing this to around 4%)—although this is illegal, and the market value of copper has subsequently fallen dramatically from these earlier peaks.

Question: In pre-decimal currency in the UK, how many florins were in a pound?
Answer: Ten