Our Money System

currency was sometimes called LSD, which was written £-s-d. The pound symbol is an ornate L, from the Latin 'libra'. The penny symbol was 'd' for denarius, a Roman coin. This was amazing monetary system that was used at Goldings had been used by Gt Britain for hundreds of years. Prior to decimalization in 1971 the pound was divided into twenty shillings and each shilling was divided into twelve pennies, pence, coppers or as we used to call them stivers.

pounds

A £1.00 paper note was often was called a 'quid'.

More than a pound £

1 guinea = £1-1s-0d or shown as £1/1/- or shown 21/-
£5.00 note
£10.00 note
£50.00 note

Note: A guinea was considered a more gentlemanly amount than £1. tradesmen were paid in pounds but gentlemen and monthly salaried staff were paid in guineas. A third of a guinea equalled exactly seven shillings.

Less than a pound £

20 shillings or  20s  = £1 one pound

12 pennies or 12d  = 1 shilling or 1s or 1/-

240 pennies or 240d  = £1

Amounts less than a pound were also shown as 12/6 meaning 12s and 6d or 10/- meaning ten shillings. An amount such as 12/6 would be pronounced 'twelve and six' as a more casual form of 'twelve shillings and sixpence. Confused, you will be.

More than a Shilling

Coins of more than one shilling 1/- but less than £1 in value were:
two shilling piece was called a florin 10 x 2/- = £1
half-crown shown as 2/6d 8 x 2/6d = £1
ten shilling note 2 x 10/- = £1
half-guinea 10/6d 2 x 10/6d = £1/1/-

Less than a Shilling

Other coins of a value less than 1/- were  
One thruppence 3d 4 x 3d = 1/-
One sixpence silver 2 x 6d = 1/-

A thruppenny bit had a picture of a wild flower called a thrift. In the 1960's, a real Mars bar cost just 6d, today they cost 45p and are like the Milky Way of the 60s

Less then a penny d

A penny which originated from a Roman coin called a  'denarius'  Pennies were broken down into other coins:

halfpenny = ½ of a penny last used 1967
farthing = ¼ of a penny last used 1960

What could you buy with these low value coins, we had pink shrimp sweet, blackjack chew or fruit salad chew these were all a farthing each.

Other names for coins:

A shilling was often called a 'bob'.
Stivers were any odd coins in Goldings talk.
sixpence often called a 'tanner'
Three penny piece called a '
Joey'

So like I said it's amazing they ever changed it to the complex and hard to understand decimal system we have today where 2½p = Six pence 5p = One shilling and 12½p was our old Half a Crown. Confused you will be when our monetary system is changed for the Euro.

 

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Last updated 01/01/08 23:46 Copyright © 2001 / 2008 Goldonian Web all rights reserved - email: Webmaster  Website by Frank Cooke