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£sd (occasionally written Lsd, spoken as "pounds, shillings and pence" or pronounced ) is the popular name for the pre-decimal
currencies A currency, "in circulation", from la, currens, -entis, literally meaning "running" or "traversing" is a standardization of money in any form, in use or circulation as a medium of exchange, for example banknotes and coins. A more general def ...
once common throughout Europe, especially in the
British Isles The British Isles are a group of islands in the North Atlantic Ocean off the north-western coast of continental Europe, consisting of the islands of Great Britain, Ireland, the Isle of Man, the Inner and Outer Hebrides, the Northern Isles, ...
and hence in several countries of the
British Empire The British Empire was composed of the dominions, colonies, protectorates, mandates, and other territories ruled or administered by the United Kingdom and its predecessor states. It began with the overseas possessions and trading posts esta ...
and subsequently the Commonwealth. The abbreviation originates from the Latin currency denominations '' librae'', ''
solidi The ''solidus'' (Latin 'solid';  ''solidi'') or nomisma ( grc-gre, νόμισμα, ''nómisma'',  'coin') was a highly pure gold coin issued in the Late Roman Empire and Byzantine Empire. Constantine introduced the coin, and its weig ...
'', and ''
denarii The denarius (, dēnāriī ) was the standard Roman silver coin from its introduction in the Second Punic War to the reign of Gordian III (AD 238–244), when it was gradually replaced by the antoninianus. It continued to be minted in very ...
''. In the
United Kingdom The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Europe, off the north-western coast of the continental mainland. It comprises England, Scotland, Wales and North ...
, these were referred to as '' pounds'', ''
shilling The shilling is a historical coin, and the name of a unit of modern currencies formerly used in the United Kingdom, Australia, New Zealand, other British Commonwealth countries and Ireland, where they were generally equivalent to 12 pence o ...
s'', and '' pence'' (''pence'' being the plural of ''penny''). Although the names originated from popular coins in the classical
Roman Empire The Roman Empire ( la, Imperium Romanum ; grc-gre, Βασιλεία τῶν Ῥωμαίων, Basileía tôn Rhōmaíōn) was the post-Republican period of ancient Rome. As a polity, it included large territorial holdings around the Mediterr ...
, their definitions and the ratios between them were introduced and imposed across Western Europe by the Emperor
Charlemagne Charlemagne ( , ) or Charles the Great ( la, Carolus Magnus; german: Karl der Große; 2 April 747 – 28 January 814), a member of the Carolingian dynasty, was King of the Franks from 768, King of the Lombards from 774, and the first Holy ...
. The £sd system was the standard across much of the European continent (France, Italy, Germany, etc.) for nearly a thousand years, until the decimalisations of the 18th and 19th centuries. As the United Kingdom remained one of the few countries retaining it into the 20th century, the system became particularly associated with Britain. It was King
Offa of Mercia Offa (died 29 July 796 AD) was List of monarchs of Mercia, King of Mercia, a kingdom of History of Anglo-Saxon England, Anglo-Saxon England, from 757 until his death. The son of Thingfrith and a descendant of Eowa of Mercia, Eowa, Offa came to ...
who adopted the Frankish silver standard of ''librae, solidi'' and ''denarii'' into Britain in the late 8th century, and the system was used in much of the
British Commonwealth The Commonwealth of Nations, simply referred to as the Commonwealth, is a political association of 56 member states, the vast majority of which are former territories of the British Empire. The chief institutions of the organisation are the Co ...
until the 1960s and 1970s, with
Nigeria Nigeria ( ), , ig, Naìjíríyà, yo, Nàìjíríà, pcm, Naijá , ff, Naajeeriya, kcg, Naijeriya officially the Federal Republic of Nigeria, is a country in West Africa. It is situated between the Sahel to the north and the Gulf o ...
being the last to abandon it in the form of the
Nigerian pound The pound was the currency of Nigeria between 1907 and 1973. Until 1958, Nigeria used the British West African pound, after which it issued its own currency. The pound was subdivided into 20 shillings, each of 12 pence. The Nigerian pound (whic ...
on 1 January 1973. Under this system, there were 12 pence in a shilling and 20 shillings, or 240 pence, in a pound. Although the standard ledger accounting system recorded only pounds, shillings and pence, actual minted coins could represent one, several or fractions of these units. The
penny A penny is a coin ( pennies) or a unit of currency (pl. pence) in various countries. Borrowed from the Carolingian denarius (hence its former abbreviation d.), it is usually the smallest denomination within a currency system. Presently, it is t ...
was subdivided into 4 farthings until 31 December 1960, when they ceased to be legal tender in the UK, and until 31 July 1969 there were also halfpennies ("ha'pennies") in circulation. The perceived advantage of such a system was its use in some aspects of
mental arithmetic Mental calculation consists of arithmetical calculations using only the human brain, with no help from any supplies (such as pencil and paper) or devices such as a calculator. People may use mental calculation when computing tools are not availab ...
, as it afforded many
factor Factor, a Latin word meaning "who/which acts", may refer to: Commerce * Factor (agent), a person who acts for, notably a mercantile and colonial agent * Factor (Scotland), a person or firm managing a Scottish estate * Factors of production, suc ...
s and hence fractions of a pound such as tenths, eighths, sixths and even sevenths and ninths if the
guinea Guinea ( ),, fuf, 𞤘𞤭𞤲𞤫, italic=no, Gine, wo, Gine, nqo, ߖߌ߬ߣߍ߫, bm, Gine officially the Republic of Guinea (french: République de Guinée), is a coastal country in West Africa. It borders the Atlantic Ocean to the we ...
(worth 21 shillings) was used. When dealing with items in dozens, multiplication and division are straightforward; for example, if a dozen eggs cost four shillings, then each egg was priced at fourpence. Basic addition, however, could be more difficult than using a decimal system. As countries of the British Empire became independent, some abandoned the £sd system quickly, while others retained it almost as long as the UK itself. The United States of America adopted a decimal system in 1792, 10 years after independence from the British Empire, but retains many other aspects of the
customary units United States customary units form a system of measurement units commonly used in the United States and U.S. territories since being standardized and adopted in 1832. The United States customary system (USCS or USC) developed from English units ...
for length and weight. Australia, for example, only changed to using a decimal currency on 14 February 1966, 35 years after independence. New Zealand followed suit on 10 July 1967. Still others, notably
Ireland Ireland ( ; ga, Éire ; Ulster Scots dialect, Ulster-Scots: ) is an island in the Atlantic Ocean, North Atlantic Ocean, in Northwestern Europe, north-western Europe. It is separated from Great Britain to its east by the North Channel (Grea ...
, decimalised only when the UK did. The UK abandoned the old penny on Decimal Day, 15 February 1971, when one pound sterling became divided into 100 new pence. This was a change from the system used in the earlier wave of decimalisations in Australia,
New Zealand New Zealand ( mi, Aotearoa ) is an island country in the southwestern Pacific Ocean. It consists of two main landmasses—the North Island () and the South Island ()—and over 700 smaller islands. It is the sixth-largest island count ...
,
Rhodesia Rhodesia (, ), officially from 1970 the Republic of Rhodesia, was an unrecognised state in Southern Africa from 1965 to 1979, equivalent in territory to modern Zimbabwe. Rhodesia was the ''de facto'' successor state to the British colony of S ...
and
South Africa South Africa, officially the Republic of South Africa (RSA), is the southernmost country in Africa. It is bounded to the south by of coastline that stretch along the South Atlantic and Indian Oceans; to the north by the neighbouring countri ...
, in which the pound was replaced with a new major currency called either the "dollar" or the "rand". The British
shilling The shilling is a historical coin, and the name of a unit of modern currencies formerly used in the United Kingdom, Australia, New Zealand, other British Commonwealth countries and Ireland, where they were generally equivalent to 12 pence o ...
was replaced by a 5 new pence coin worth one-twentieth of a pound. For much of the 20th century, £sd was the monetary system of most of the Commonwealth countries, the major exceptions being
Canada Canada is a country in North America. Its ten provinces and three territories extend from the Atlantic Ocean to the Pacific Ocean and northward into the Arctic Ocean, covering over , making it the world's second-largest country by tot ...
and
India India, officially the Republic of India (Hindi: ), is a country in South Asia. It is the seventh-largest country by area, the second-most populous country, and the most populous democracy in the world. Bounded by the Indian Ocean on the so ...
. Historically, similar systems based on Roman coinage were used elsewhere; e.g., the division of the ''
livre tournois The (; ; abbreviation: ₶.) was one of numerous currencies used in medieval France, and a unit of account (i.e., a monetary unit used in accounting) used in Early Modern France. The 1262 monetary reform established the as 20 , or 80.88 g ...
'' in
France France (), officially the French Republic ( ), is a country primarily located in Western Europe. It also comprises of Overseas France, overseas regions and territories in the Americas and the Atlantic Ocean, Atlantic, Pacific Ocean, Pac ...
and other pre-decimal currencies such as
Spain , image_flag = Bandera de España.svg , image_coat = Escudo de España (mazonado).svg , national_motto = ''Plus ultra'' (Latin)(English: "Further Beyond") , national_anthem = (English: "Royal March") , i ...
, which had 20
maravedí The ''maravedí'' () or ''maravedi'' (), (from '' Almoravid dinar''), was the name of various Iberian coins of gold and then silver between the 11th and 14th centuries and the name of different Iberian accounting units between the 11th and 19th c ...
s to 1
real Real may refer to: Currencies * Brazilian real (R$) * Central American Republic real * Mexican real * Portuguese real * Spanish real * Spanish colonial real Music Albums * ''Real'' (L'Arc-en-Ciel album) (2000) * ''Real'' (Bright album) (2010) ...
and 20 reals to 1 duro or 5 pesetas.


Origins

The classical
Roman Empire The Roman Empire ( la, Imperium Romanum ; grc-gre, Βασιλεία τῶν Ῥωμαίων, Basileía tôn Rhōmaíōn) was the post-Republican period of ancient Rome. As a polity, it included large territorial holdings around the Mediterr ...
originally used a decimal currency system based on the " as" whereby 1 ''denarius'' = 10 ''as''. The silver
denarius The denarius (, dēnāriī ) was the standard Roman silver coin from its introduction in the Second Punic War to the reign of Gordian III (AD 238–244), when it was gradually replaced by the antoninianus. It continued to be minted in very ...
was the common circulation coin, but accounting was in sestercii. Later Roman Emperors undertook multiple coinage reforms, redefining weights and coins' relative values and introducing new coins and new accounting systems for them. Since most reforms were not even completed before the next one began, the late Roman Empire had a veritable mess of multiple overlapping systems of weights and currencies. Around the 780s, the Frankish emperor
Charlemagne Charlemagne ( , ) or Charles the Great ( la, Carolus Magnus; german: Karl der Große; 2 April 747 – 28 January 814), a member of the Carolingian dynasty, was King of the Franks from 768, King of the Lombards from 774, and the first Holy ...
cut through the mess by creating a new uniform system. He defined the "libra" as a new measure of weight equivalent to around 489.6 grams (substantially larger than the old Roman pound of 328.9g), and ordered 240 silver units known as ''denarii'' to be struck from the new
Carolingian pound The Carolingian pound ( lat, pondus Caroli, german: Karlspfund), also called Charlemagne's pound or the Charlemagne pound, was a unit of weight that emerged during the reign of Charlemagne. It served both as a trading weight and a coinage weight. ...
of pure silver, each ''denarius'' containing 22.5 grains of silver. To help accounting, Charlemagne also decreed that the pound was divisible into 20 ''solidii'' each of 12 ''denarii''. Thus began the
Carolingian monetary system The Carolingian monetary system, also called the Carolingian coinage systemCarolingian Empire The Carolingian Empire (800–888) was a large Frankish-dominated empire in western and central Europe during the Early Middle Ages. It was ruled by the Carolingian dynasty, which had ruled as kings of the Franks since 751 and as kings of the Lom ...
and also infiltrated countries on its periphery. In the late 8th century, King
Offa of Mercia Offa (died 29 July 796 AD) was List of monarchs of Mercia, King of Mercia, a kingdom of History of Anglo-Saxon England, Anglo-Saxon England, from 757 until his death. The son of Thingfrith and a descendant of Eowa of Mercia, Eowa, Offa came to ...
imported the system into Britain to facilitate transactions (notably " Peter's pence") with the
Roman Catholic Roman or Romans most often refers to: *Rome, the capital city of Italy *Ancient Rome, Roman civilization from 8th century BC to 5th century AD *Roman people, the people of ancient Rome *'' Epistle to the Romans'', shortened to ''Romans'', a lette ...
Church (which used the Carolingian coinage system). But it was not the sole system in Britain – the £sd system would have to compete for a while with the
Viking Vikings ; non, víkingr is the modern name given to seafaring people originally from Scandinavia (present-day Denmark, Norway and Sweden), who from the late 8th to the late 11th centuries raided, pirated, traded and se ...
" mark" accounting system, introduced into
Danelaw The Danelaw (, also known as the Danelagh; ang, Dena lagu; da, Danelagen) was the part of England in which the laws of the Danes held sway and dominated those of the Anglo-Saxons. The Danelaw contrasts with the West Saxon law and the Mercian ...
regions. Although £sd ultimately prevailed in Britain, the "mark of account" system lingered on in
North Sea The North Sea lies between Great Britain, Norway, Denmark, Germany, the Netherlands and Belgium. An epeiric sea on the European continental shelf, it connects to the Atlantic Ocean through the English Channel in the south and the Norwegian S ...
trade and areas of
Hanseatic The Hanseatic League (; gml, Hanse, , ; german: label=German language, Modern German, Deutsche Hanse) was a Middle Ages, medieval commercial and defensive confederation of merchant guilds and market towns in Central Europe, Central and Norther ...
influence through much of the Middle Ages. Charlemagne's new monetary system prevailed across much of Western Europe including France (where the units were known as the ''livre'', ''sous'' and ''denier''), Italy (''lira'', ''soldo'' and ''denaro''), the Holy Roman Empire (''pfund'', ''schilling'' and ''pfennig'') and in England (''pound'', ''shilling'' and ''penny''). The English name ''pound'' is a Germanic adaptation of the Latin phrase 'a pound weight'. On the Iberian peninsula, the Kingdom of Aragon adopted the Carolingian monetary system (Catalan: ''lliura'', ''sou'' and ''diners''), but those of Portugal and Castile (and subsequently Spain) retained the currency system inherited from
al-Andalus Al-Andalus DIN 31635, translit. ; an, al-Andalus; ast, al-Ándalus; eu, al-Andalus; ber, ⴰⵏⴷⴰⵍⵓⵙ, label=Berber languages, Berber, translit=Andalus; ca, al-Àndalus; gl, al-Andalus; oc, Al Andalús; pt, al-Ândalus; es, ...
. During the early Middle Ages, only the denarius was issued as an actual coin; the libra and solidus were merely units of account. But over time, the silver resources were gradually exhausted and the coins became repeatedly debased by Medieval monarchs, prompting the minting of larger coins from the 13th century. It also led to specification of currencies by mint of origin in contracts and accounting (e.g. a ''denier parisis'', of the Paris mint, contained more actual silver than the very debased ''denier tournois'' of the Tours mint). To facilitate larger transactions, gold coins began to be minted in western Europe around the same time. The French "
franc The franc is any of various units of currency. One franc is typically divided into 100 centimes. The name is said to derive from the Latin inscription ''francorum rex'' (Style of the French sovereign, King of the Franks) used on early France, ...
", introduced in 1360, was the first coin anywhere to represent exactly £1 and the gold " sovereign", first minted in 1489, was the first English £1 coin. Although the £sd system remained intact in ledger accounting, the variety of new coins of various multiples and qualities led to common expression of quantities in terms of number of coins (guineas, crowns, farthings, etc.) But they would all have to be converted into formal £sd units in accounts.


Decimalisation

The £sd system continued in much of Western Europe for nearly a thousand years, until the " decimalisations" of the 18th and 19th centuries. The United States of America was among the first to drop the £sd system and adopt a decimal currency in 1792. In Europe, decimalisation of currency (as well as other weights and measures) began in
Revolutionary France The French Revolution ( ) was a period of radical political and societal change in France that began with the Estates General of 1789 and ended with the formation of the French Consulate in November 1799. Many of its ideas are considere ...
with the law of 1795 ("Loi du 18 germinal an III", 7 April 1795), replacing the £sd accounting system of the
Ancien régime ''Ancien'' may refer to * the French word for "ancient, old" ** Société des anciens textes français * the French for "former, senior" ** Virelai ancien ** Ancien Régime ** Ancien Régime in France {{disambig ...
with a system of 1 franc = 10 decimes = 100 centimes. Decimalisation was carried by French armies to neighboring European countries during the
Napoleonic wars The Napoleonic Wars (1803–1815) were a series of major global conflicts pitting the French Empire and its allies, led by Napoleon I, against a fluctuating array of European states formed into various coalitions. It produced a period of Fren ...
. By the mid-19th century, most of continental Europe had decimalised, leaving the
United Kingdom The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Europe, off the north-western coast of the continental mainland. It comprises England, Scotland, Wales and North ...
as the only major country to continue to maintain the £sd system. Britain considered following the continental example. A parliamentary select committee was set up in 1821 to inquire into decimalisation, but ended up recommending retaining the £sd system. However, pressure groups were formed inside Britain advocating the adoption of decimalisation of the currency, and Parliament returned to the matter in the 1850s. Various decimalisation schemes were considered – the Pound-and-Mil scheme, the Farthing scheme, the Half-penny scheme, the Alb scheme, etc. – but all were determined to have deficiencies, and transition would be too difficult and expensive. The £sd system would be maintained in Britain until 1971.


Decimalisations

All countries and territories that formerly used the £sd system have now decimalised their currency, with most decimalisations occurring after the
Second World War World War II or the Second World War, often abbreviated as WWII or WW2, was a world war that lasted from 1939 to 1945. It involved the vast majority of the world's countries—including all of the great powers—forming two opposin ...
.
Malta Malta ( , , ), officially the Republic of Malta ( mt, Repubblika ta' Malta ), is an island country in the Mediterranean Sea. It consists of an archipelago, between Italy and Libya, and is often considered a part of Southern Europe. It lies ...
decimalised its currency in 1972, while
Nigeria Nigeria ( ), , ig, Naìjíríyà, yo, Nàìjíríà, pcm, Naijá , ff, Naajeeriya, kcg, Naijeriya officially the Federal Republic of Nigeria, is a country in West Africa. It is situated between the Sahel to the north and the Gulf o ...
decimalised in 1973. The British
pound sterling Sterling (abbreviation: stg; Other spelling styles, such as STG and Stg, are also seen. ISO code: GBP) is the currency of the United Kingdom and nine of its associated territories. The pound ( sign: £) is the main unit of sterling, and t ...
and Irish pound were among the last to be decimalised, on 15 February 1971. In places where £sd was used, there were several approaches to decimalisation: # The pound remained the base unit (in Malta, using the Maltese name "lira"), but was subdivided into new fractional units of of a pound. The new fractional unit (called the "new penny" in the UK and
Ireland Ireland ( ; ga, Éire ; Ulster Scots dialect, Ulster-Scots: ) is an island in the Atlantic Ocean, North Atlantic Ocean, in Northwestern Europe, north-western Europe. It is separated from Great Britain to its east by the North Channel (Grea ...
and the "cent" in
Malta Malta ( , , ), officially the Republic of Malta ( mt, Repubblika ta' Malta ), is an island country in the Mediterranean Sea. It consists of an archipelago, between Italy and Libya, and is often considered a part of Southern Europe. It lies ...
) was worth 2.4 old pence. Malta also created a fractional unit worth of a pound, called the " mil", worth 0.24 old pence. # A new base unit (often called the "dollar") was created equal to ten shillings (half a pound), and subdivided into 100 fractional units, with one fractional unit (usually called the "cent") equal to of a shilling or 1.2 old pence. This was the approach adopted in
South Africa South Africa, officially the Republic of South Africa (RSA), is the southernmost country in Africa. It is bounded to the south by of coastline that stretch along the South Atlantic and Indian Oceans; to the north by the neighbouring countri ...
(as the Rand),
Australia Australia, officially the Commonwealth of Australia, is a Sovereign state, sovereign country comprising the mainland of the Australia (continent), Australian continent, the island of Tasmania, and numerous List of islands of Australia, sma ...
,
New Zealand New Zealand ( mi, Aotearoa ) is an island country in the southwestern Pacific Ocean. It consists of two main landmasses—the North Island () and the South Island ()—and over 700 smaller islands. It is the sixth-largest island count ...
,
Jamaica Jamaica (; ) is an island country situated in the Caribbean Sea. Spanning in area, it is the third-largest island of the Greater Antilles and the Caribbean (after Cuba and Hispaniola). Jamaica lies about south of Cuba, and west of His ...
,
Fiji Fiji ( , ,; fj, Viti, ; Fiji Hindi: फ़िजी, ''Fijī''), officially the Republic of Fiji, is an island country in Melanesia, part of Oceania in the South Pacific Ocean. It lies about north-northeast of New Zealand. Fiji consists ...
and many other countries. # A new base unit called the "dollar" was created at parity with the
United States dollar The United States dollar ( symbol: $; code: USD; also abbreviated US$ or U.S. Dollar, to distinguish it from other dollar-denominated currencies; referred to as the dollar, U.S. dollar, American dollar, or colloquially buck) is the officia ...
. This was done in
Canada Canada is a country in North America. Its ten provinces and three territories extend from the Atlantic Ocean to the Pacific Ocean and northward into the Arctic Ocean, covering over , making it the world's second-largest country by tot ...
in 1858 and in many places in the
West Indies The West Indies is a subregion of North America, surrounded by the North Atlantic Ocean and the Caribbean Sea that includes 13 independent island countries and 18 dependencies and other territories in three major archipelagos: the Greater A ...
in the 19th and 20th centuries. In
Bermuda ) , anthem = "God Save the King" , song_type = National song , song = " Hail to Bermuda" , image_map = , map_caption = , image_map2 = , mapsize2 = , map_caption2 = , subdivision_type = Sovereign state , subdivision_name = , e ...
in 1970, as the pound was fixed at US$2.40, this made the new Bermudian dollar equal to exactly 100 old pence, with the new cent equal to one old penny. # Some countries have adopted alternative approaches, such as
Ghana Ghana (; tw, Gaana, ee, Gana), officially the Republic of Ghana, is a country in West Africa. It abuts the Gulf of Guinea and the Atlantic Ocean to the south, sharing borders with Ivory Coast in the west, Burkina Faso in the north, and To ...
, which created a new base unit equal to 100 old pence (not equal to the U.S. dollar), with a fractional unit equal to one old penny,
Bahamas The Bahamas (), officially the Commonwealth of The Bahamas, is an island country within the Lucayan Archipelago of the West Indies in the Atlantic Ocean, North Atlantic. It takes up 97% of the Lucayan Archipelago's land area and is home to ...
, which adopted a new base unit equal to seven shillings, with a fractional unit equal to 0.84 old pence, and
The Gambia The Gambia,, ff, Gammbi, ar, غامبيا officially the Republic of The Gambia, is a country in West Africa. It is the smallest country within mainland AfricaHoare, Ben. (2002) ''The Kingfisher A-Z Encyclopedia'', Kingfisher Publicatio ...
, which created a new base unit equal to four shillings, with a fractional unit equal to 0.48 old pence. The following table shows the conversion of common denominations of coins of the £sd systems. The following coins were not in common circulation in the UK at the time of decimalisation, though the ten shilling note and the pound note were. The
farthing Farthing or farthings may refer to: Coinage *Farthing (British coin), an old British coin valued one quarter of a penny ** Half farthing (British coin) ** Third farthing (British coin) ** Quarter farthing (British coin) * Farthing (English ...
, at penny, was never converted, as it ceased to be
legal tender Legal tender is a form of money that courts of law are required to recognize as satisfactory payment for any monetary debt. Each jurisdiction determines what is legal tender, but essentially it is anything which when offered ("tendered") in ...
a decade prior to decimalisation. In 1971, a new penny would have been worth 9.6 farthings (making a farthing slightly more than 0.1 new pence). Similarly, the old halfpenny and the half-crown were not converted in the UK either, having been withdrawn previously.


Pre-decimal coins and banknotes

United Kingdom pre-decimal banknotes are no longer legal tender, but are exchangeable for their face value (regardless of the possible greater worth if sold or auctioned) if they are taken directly (or posted) to the Bank of England. The last £sd coins to cease being legal tender in the UK after Decimal Day were the sixpence (withdrawn 1980), the shilling (withdrawn 1991) and the florin (withdrawn 1993). Commemorative crowns minted post decimalisation (worth either 25p or £5) are still legal tender, but are rarely, if ever, spent. In Australia, , pre-decimal coins can still be found in circulation occasionally as 5, 10 and 20-cent coins. The last £sd banknote to cease to be legal tender anywhere was the Isle of Man ten shilling note, which ceased to be legal tender there in 2013.


Computing

Computers and calculators sold pre-decimalisation – mostly in the 1960s – occasionally came with special support for the £sd system in the form of a fixed-point currency datatype. The
IBM 1401 The IBM 1401 is a variable-wordlength decimal computer that was announced by IBM on October 5, 1959. The first member of the highly successful IBM 1400 series, it was aimed at replacing unit record equipment for processing data stored on pu ...
is one such machine; on Sterling models with sd support, it had a switch for selecting between IBM and BSI data layouts of £sd on its auxiliary console (see image). The
ICT 1301 The ICT 1301 and its smaller derivative ICT 1300 were early business computers from International Computers and Tabulators. Typical of mid-sized machines of the era, they used core memory, drum storage and punched cards, but they were unusual in t ...
and the
PL/I PL/I (Programming Language One, pronounced and sometimes written PL/1) is a procedural, imperative computer programming language developed and published by IBM. It is designed for scientific, engineering, business and system programming. I ...
language also had £sd support.


Writing conventions and pronunciations

There were several ways to represent amounts of money in writing and speech, with no formal convention; for example: *£2/3/6 (two pounds, three shillings and sixpence), spoken, unless there was cause to be punctilious, "two pound(s), three and six". Whether "pound" or "pounds" was used depended upon the speaker, varying with class, region and context. *1/– (one shilling), colloquially "a bob"; the slash sign derives from the older style of a
long s The long s , also known as the medial s or initial s, is an archaism, archaic form of the lowercase letter . It replaced the single ''s'', or one or both of the letters ''s'' in a 'double ''s sequence (e.g., "ſinfulneſs" for "sinfulness" ...
for "solidus", which is also one name for the sign itself; the '–' is used in place of '0', meaning "zero pence"). *11d. (elevenpence) *d (a penny halfpenny, three halfpence). As spoken, the ''lf'' in ''halfpenny'' and ''halfpence'' was always silent; they were pronounced "hayp'ny" and "haypence" – hence the occasional spellings ''ha'penny'' and ''ha'pence''). *3d (three pence), with reference to the above, this became ''thruppence'', commonly referred to as a "threepenny bit". *6d (six pence) known as a "tanner" or half a shilling. *2/– (two shillings, or one
florin The Florentine florin was a gold coin struck from 1252 to 1533 with no significant change in its design or metal content standard during that time. It had 54 grains (3.499 grams, 0.113 troy ounce) of nominally pure or 'fine' gold with a purcha ...
, colloquially "two-bob bit") *2/6 (two shillings and six pence, usually said as "two and six" or a "half-crown"; the value could also be spoken as "half a crown", but the coin was always a half-crown) *4/3 ("four and threepence", the latter word pronounced "thruppence" , "threppence" , "throopence" with -oo- as in "foot" , or "four-and-three") *5/– (five shillings, one
crown A crown is a traditional form of head adornment, or hat, worn by monarchs as a symbol of their power and dignity. A crown is often, by extension, a symbol of the monarch's government or items endorsed by it. The word itself is used, partic ...
, "five bob", a dollar) *£1/10/– (one pound, ten shillings; one pound ten, "thirty bob") *£1/19/ (one pound, nineteen shillings and elevenpence three farthings: a psychological price, one farthing under £2) *£14/8/2 (fourteen pounds, eight shillings and twopence – pronounced "tuppence" – in columns of figures. Commonly read "fourteen pound(s) eight and two") Halfpennies and farthings (quarter of a penny) were represented by the appropriate symbol ( for farthing, for halfpenny, or for three farthings) after the whole pence. A convention frequently used in retail pricing was to list prices over one pound all in shillings, rather than in pounds and shillings; for example, £4-18-0 would be written as 98/– (£4.90 in decimal currency). This is still seen in shilling categories of Scottish beer, such as 90/– beer. Sometimes, prices of luxury goods and furniture were expressed by merchants in
guineas The guinea (; commonly abbreviated gn., or gns. in plural) was a coin, minted in Great Britain between 1663 and 1814, that contained approximately one-quarter of an ounce of gold. The name came from the Guinea region in West Africa, from where m ...
, although the guinea coin had not been struck since 1799. A guinea was 21 shillings (£1.05 in decimal currency). Professionals such as lawyers and physicians, art dealers, and some others stated their fees in guineas rather than pounds, while, for example, salaries were stated in pounds per annum. Historically, at some auctions, the purchaser would bid and pay in guineas but the seller would receive the same number of pounds; the commission was the same number of shillings.
Tattersalls Tattersalls (formerly Tattersall's) is the main auctioneer of race horses in the United Kingdom and Ireland. Founding It was founded in 1766 by Richard Tattersall (1724–1795), who had been stud groom to the second Duke of Kingston. T ...
, the main auctioneer of racehorses in the United Kingdom and Ireland, continues this tradition of conducting auctions in guineas at its UK sales (in Ireland, auctions are conducted in euros). The vendor's commission is 5%. The word "guineas" is still found in the names of some British horse races, even though their prize funds are now fixed in pounds – such as the
1,000 Guineas The 1000 Guineas Stakes is a Group 1 flat horse race in Great Britain open to three-year-old fillies. It is run on the Rowley Mile at Newmarket over a distance of 1 mile (1,609 ...
and 2,000 Guineas at
Newmarket Racecourse Newmarket Racecourse is a British Thoroughbred horse racing venue in Newmarket, Suffolk, Newmarket, Suffolk, comprising two individual racecourses: the Rowley Mile and the July Course. Newmarket is often referred to as the headquarters of ...
.


Colloquial terms

A
farthing Farthing or farthings may refer to: Coinage *Farthing (British coin), an old British coin valued one quarter of a penny ** Half farthing (British coin) ** Third farthing (British coin) ** Quarter farthing (British coin) * Farthing (English ...
or ha'penny bit was called a "mag" (slang for "chattering") because they were originally made from copper and made a ringing noise when dropped. The game of "penny pitching" (bouncing pennies against a wall to see how far they would rebound onto the pavement) was called "mag flying". A threepenny bit (pronounced thrupney bit) was called a "Joey" (see ''Fourpence'' below); it was a silver or silver alloy coin from 1845 to 1937 and a 12-sided bronze coin from 1937 to 1971. It was known as a "tickey" in
South Africa South Africa, officially the Republic of South Africa (RSA), is the southernmost country in Africa. It is bounded to the south by of coastline that stretch along the South Atlantic and Indian Oceans; to the north by the neighbouring countri ...
and
Southern Rhodesia Southern Rhodesia was a landlocked self-governing British Crown colony in southern Africa, established in 1923 and consisting of British South Africa Company (BSAC) territories lying south of the Zambezi River. The region was informally kn ...
. In Australia it was known as a tray (also spelt trey), or a tray bit, from the French "trois" meaning three. A fourpenny bit was often known as a " groat", from the medieval four-penny silver coin of the same name. It was nicknamed a "Joey", from
Joseph Hume Joseph Hume FRS (22 January 1777 – 20 February 1855) was a Scottish surgeon and Radical MP.Ronald K. Huch, Paul R. Ziegler 1985 Joseph Hume, the People's M.P.: DIANE Publishing. Early life He was born the son of a shipmaster James Hume ...
, the Radical MP who championed its reintroduction. When the new threepence coin replaced the fourpence coin in circulation in 1845, it took over its nickname. A sixpenny bit was a "tanner", derived from the Romany word ''tano'', meaning "small" (because it was smaller than a shilling). It was also called a "tester" or "testoon" from the
teston Teston /ˈtiːstən/ The Place Names of Kent,Judith Glover,1976,Batsford. or /ˈtiːsən/ BBC Pronouncing Dictionary of British Names — is a village in the Maidstone District of Kent, England. It is located on the A26 road out of Maidston ...
, a French coin. In Australia it was called a "Zack". One
shilling The shilling is a historical coin, and the name of a unit of modern currencies formerly used in the United Kingdom, Australia, New Zealand, other British Commonwealth countries and Ireland, where they were generally equivalent to 12 pence o ...
was called a "bob" or "thin 'un" (because it was thinner than a sovereign coin). It is known in Australia as a "deener" possibly from 'Dinar' or 'Denarius'. A two-shilling piece known as a
florin The Florentine florin was a gold coin struck from 1252 to 1533 with no significant change in its design or metal content standard during that time. It had 54 grains (3.499 grams, 0.113 troy ounce) of nominally pure or 'fine' gold with a purcha ...
(an early attempt at decimalisation, being ), was in everyday use. It was referred to as "two bob", a "two-shilling bit", or a "two-bob bit". A two-shillings-and-sixpence piece, in use until the introduction of decimal currency, was known as " half a crown" or a "half crown". They were discontinued in 1971 as there was no need for a New Pence coin. A five-shilling piece was called a
crown A crown is a traditional form of head adornment, or hat, worn by monarchs as a symbol of their power and dignity. A crown is often, by extension, a symbol of the monarch's government or items endorsed by it. The word itself is used, partic ...
or a dollar. A ten-shilling note was sometimes known as "half a bar". It was first printed in 1914 by the Treasury during World War I to conserve silver. These early Treasury notes (especially the 1st and 2nd Series from 1914 to 1917) were nicknamed "Bradburys", from the prominent stylized signature of Sir John Bradbury,
Permanent Secretary to the Treasury The UK Permanent Secretary to the Treasury is the most senior civil servant at HM Treasury. The post originated as that of Assistant Secretary to the Treasury in 1805; that office was given new duties and renamed in 1867 as a Permanent Secretaryship ...
(1913–1919). A pound was called a "nicker" or " quid". The term "quid" is said to originate from the
Latin Latin (, or , ) is a classical language belonging to the Italic branch of the Indo-European languages. Latin was originally a dialect spoken in the lower Tiber area (then known as Latium) around present-day Rome, but through the power of the ...
phrase quid pro quo. A pound coin, or sovereign, was called a "sov" or "thick 'un" (because it was thicker than a shilling). A pound note was called a "bar" or "sheet" (from its rectangular shape) or simply a "note" (e.g., "You owe me 50 notes"). The larger denomination notes (£5, £10, £20, £50, £100, £200, £500, and £1,000) printed from the 18th century to 1943 were called "white notes" because they were printed on lightweight white paper with the text in black ink.


In popular culture

The currency of knuts, sickles and galleons in the
Harry Potter ''Harry Potter'' is a series of seven fantasy literature, fantasy novels written by British author J. K. Rowling. The novels chronicle the lives of a young Magician (fantasy), wizard, Harry Potter (character), Harry Potter, and his friends ...
books is a parody of the £sd system, with 29 knuts to a sickle and 17 sickles to a galleon. It serves as the currency of the Wizarding World, while pounds are still used by Muggles, the non-magical people.
Lysergic acid diethylamide Lysergic acid diethylamide (LSD), also known colloquially as acid, is a potent psychedelic drug. Effects typically include intensified thoughts, emotions, and sensory perception. At sufficiently high dosages LSD manifests primarily mental, vi ...
was sometimes called "pounds, shillings and pence" during the 1960s, because of the abbreviation LSD. The English rock group
the Pretty Things ''The'' () is a grammatical article in English, denoting persons or things already mentioned, under discussion, implied or otherwise presumed familiar to listeners, readers, or speakers. It is the definite article in English. ''The'' is the ...
released a 1966 single titled "£.s.d." that highlighted the
double entendre A double entendre (plural double entendres) is a figure of speech or a particular way of wording that is devised to have a double meaning, of which one is typically obvious, whereas the other often conveys a message that would be too socially ...
.http://www.theprettythings.com/disco.html The Pretty Things discography The Chemical Defence Experimental Establishment called the first field trial with LSD as a chemical weapon "Moneybags" as a pun. The score of 26 at
darts Darts or dart-throwing is a competitive sport in which two or more players bare-handedly throw small sharp-pointed missiles known as darts at a round target known as a dartboard. Points can be scored by hitting specific marked areas of the bo ...
(one dart in each of the top three spaces) was sometimes called "half-a-crown" as late as the 1990s, though this did start to confuse the younger players. 26 is also referred to as "Breakfast", since 2/6 or half a crown was the standard cost for breakfast pre-decimalisation.


See also

* Sterling coinage – the standard circulating coinage of the United Kingdom * Irish pound – decimalised on Decimal Day, the Irish Pound was the currency of Ireland until 2002 *
Decimal time Decimal time is the representation of the time of day using units which are decimally related. This term is often used specifically to refer to the time system used in France for a few years beginning in 1792 during the French Revolution, whic ...
– the representation of the time of day using units which are decimally related


References


External links

* {{DEFAULTSORT:Lsd Currencies of the United Kingdom Numismatics Economic history of Ireland