Prior to decimalisation in 1971, there were 12 pence (written as 12d) in a shilling (written as 1s or 1/-) and 20 shillings in a pound, written as £1 (occasionally "L" was used instead of the pound sign, £). There were therefore 240 pence in a pound. For example, 2 pounds 14 shillings and five pence could have been written as £2 14s 5d or 2/14/5.
The value of some coins fluctuated, particularly in the reigns of James I and Charles I. The value of a guinea fluctuated between 20 and 30 shillings before being fixed at 21 shillings in December 1717. These are denominations of British, or earlier English, coins—Scottish coins had different values.
Threepence (3d [£0.0125]), silver 1547–1945 (and thereafter only for Maundy), nickel-brass 1937–1970. Sometimes called "thripp'nce", "thrupp'nce", "threpp'nce" or "thripp'ny bit", "thrupp'ny bit".
Sixpence (6d [£0.025]), 1547–1970; circulated from 1971 to 1980 with a value of two and a half decimal pence. Also called "tanner", sometimes "tilbury",[2] or "joey" after the groat was no longer in circulation.
Shilling (1/- [£0.05]), 1502–1970, circulated from 1971 to 1990 with a value of five decimal pence. Also called a "bob".
Two guineas or double guinea (originally 40/- [£2], later 42/- [£2.1]), 1664–1753. Originally known as a "forty-shilling piece"; value changed to forty-two shillings after the Proclamation of 1717 finally settled the value of a guinea.
Five guineas (originally 100/- [£5], later 105/- [£5.25]), 1668–1753. Originally known and valued as five pounds, but became five guineas when the guinea was standardised at one pound and one shilling in 1717.
Notes:
* Denomination issued for use in the colonies, usually in Ceylon, Malta, or the West Indies, but normally counted as part of the British coinage.
** The medieval florin, half florin, and quarter florin were gold coins intended to circulate in Europe as well as in England and were valued at much more than the Victorian and later florin and double florin. The medieval florins were withdrawn within a year because they contained insufficient gold for their face value and thus were unacceptable to merchants.
Decimal
Obverse and reverse of common coins in current circulation: £2, £1, 50p, 20p, 10p, 5p, 2p and 1p. The coins shown are those prior to the extensive redesign of 2008.
Since decimalisation on "Decimal Day" in 1971, the pound has been divided into 100 pence. Originally the term "new pence" was used; the word "new" was dropped from the coinage in 1982. The old shilling equated to five (new) pence, and, for example, £2 10s 6d became £2.52½. The symbol for the (old) penny, "d", was replaced by "p" (or initially sometimes "np", for new pence). Thus 72 pence can be written as £0.72 or 72p.
Half penny (p). Sometimes written "ha'penny" (pronounced HAY-p'nee); demonetised and withdrawn from circulation in December 1984.
Twenty-five pence (25p), or "crown". A commemorative coin issued between 1972 and 1981 as a post-decimal continuation of the old crown. From 1990 it was replaced by the £5 coin.
Fifty pence (50p). Introduced in 1969, just prior to decimalisation, to replace the ten shilling note ("ten bob note"). It was initially sometimes called a "ten bob bit". The coin was reduced in size in 1997.
One pound (£1). Introduced in 1983 to replace the one pound note.
Two pounds (£2). Issued as a commemorative coin from 1986 and in general circulation from 1997.
Five pounds (£5), or "crown". Introduced in 1990 as a commemorative coin, replacing the twenty-five pence.
Note: The description of banknotes given here relates to notes issued by the Bank of England. Three banks in Scotland and four banks in Northern Ireland also issue notes, in some or all of the denominations: £1, £5, £10, £20, £50, £100.
Ten shilling note (10/- [£0.5]), issued from World War I until 1969.[3] Also called a "ten bob note" or "half a nicker".
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