Old money

[cheesygirl]

I'm posting this for my own reference mainly, since if I just xerox it I'll lose it, and I'll forget where I saw it otherwise. This is an explanation of old English currency, from Victorian London: The Tale of a City, 1840-1870, by Liza Picard. Others might find it interesting/useful.


Copper or bronze coins in circulation began at a farthing, worth a quarter of a penny, then a halfpenny (pronounced 'haypenny'), a penny, a two-penny piece and a four-penny piece. There were twelve pennies in a shilling.

Silver coins in circulation began at a three-penny (pronounced 'thripenny') bit, then a sixpence, a shilling, a florin worth 2 shillings, a half-crown and a crown worth 5 shillings. There were 20 shillings in the £.

Gold coins in circulation were half-sovereigns and sovereigns. A sovereign was worth £1. It was about the size of a modern £1 piece, but heavier.

A guinea was used to express professional fees and in other prestigious spheres. It was not a coin. It was worth £1 1s.

After 1844 all banknotes were issued by the Bank of England, for £5, £10, £20, £100, £200, £500, and £1000.

Comments

[cheesygirl.livejournal.com]

I would think the metric would be easier to manage, as the old system was so uneven. Twelve of this equaled one of that, and one of this was twenty of that, etc. Gah! Working by tens is just so much easier.

I've always wondered exactly what a "farthing" was worth, and now I know! :D