Terms

Currency [1]

Updated : August 5, 2019

Pound

There are several currencies named “Pound”.

The most notable is known as the “Sterling Pound“.

The British manufactured the “Silver Penny” made out of pure silver. 240 Silver Pennies presumably weighed one pound. Hence, the name “Sterling Pound”.

1 Pound = 20 shillings = 240 pennies

At one time, the Pound was tied to the “Gold Reserve“.

In our younger days, 1 Pound was equivalent to about 13 Kyats.

Denominations

  • Pound
  • Shilling
  • Penny
  • Farthing
  • Half-crown
  • Crown
  • Guinea

Metric

Later, the British went “metric”.

1 “new” Pound = 100 “new” Pence.

Categories: Terms

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