Can somebody explain the various monetary units of the UK - pounds, shillings, pennies, etc. and the relations between them?

Sorry, just something that's kept me in the dark awhile!

Harish, I presume that you are talking about the 'pre-decimal' currency.

One shilling = 12 pennies (pence)
One florin = 2 shillings
One pound = 20 shillings

Others that you may encounter...

A ha'penny = half a penny
A farthing = quarter of a penny
Threepence = 3 pennies
A sovereign = One pound (in coin form)
A guinea = 21 shillings
A groat = 4 pence (this has not been used for a few centuries)

Thanks for that, Ozzz!

But if there's a pre-decimal system, is there a post-decimal system as well? What is this like? Is one pound divided into some 100 sub-units?

The current UK coinage, since 1971 - if my memory is correct, is one pound split into 100 pennies. There are 1, 2, 5, 10, 20 and 50 pence coins. The 1 and 2 pounds are coins with notes for 5, 10, 20 and 50 pounds.

Thank you for that, Biggles!

1971 - Eek! Well, my only exposure the pre-decimal system has been from my early spates of Enid Blyton-reading, and my current liking for the William series of books by Richmal Crompton...

Hi Harish,

I am old enough (just!) to remember the change over from the old money to the new in 1971, and good fun it was. There was a certain amount of overlap to begin with because some old/new coins had the same value (eg 1 shilling - 5 pence; two shillings - 10 pence etc). Originally there was also a (very small and irritating) half pence coin, but that was phased out after about ten years because inflation eroded its value away.

There are some dates and things which I wouldn't have been able to remember on this page: http://www.users.globalnet.co.uk/~kenelks/decimal.htm

Thank you for that page, Stew, it's very interesting!

So decimalisation was another thing we Indians learnt before the Brits...

15th February 1971 to be precise.

At that time I was working for a business machine manufacturer, they made cash registers, adding machines, accounting machines and computers - oh what fun we had with that lot! Many companies had to purchase new equipment, some equipment could be converted, all programs had to be re-written, new stationary printed in many cases. I managed to fracture my right wrist in a riding accident on 13th December 1970 and wasn't permitted to take time off work.

Inflation was a factor, something which had cost 1s.8d in 'old money' was often incorrectly converted to 18p in decimal currency instead of 8.5p, 1s.9d became 19p instead of 9p, 2s.0d became 20p and so forth, some traders really took advantage.

now that is interesting - I can imagine traders doing that sort of thing - tsk tsk.

I got a whole load of old money from my nan last year and took it in to show my boss - who counted it within seconds because obviously he was used to it...I was in awe!

I can't believe you couldn't take time off to nurse yourself better!!