Money in the UK Until 1971: What A Cluster

2,128 Views | 11 Replies | Last: 3 yr ago by Buck Turgidson
Madman
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AG
I am currently reading a book, The Road to Wigan Pier, and had to look up a few things not being familiar with the money in the UK in 1937. And as a quick aside for those of you who have read Wigan Pier, did you understand the title as a joke?

Anyway until 1971 the money in the UK was not on the decimal system. And the following currency amounts were available.

1 pound = 20 schillings
1 shilling = 12 pennies
1 penny = either 2 half pennies or 4 qtr pennies (farthings)

But we are not done. What is a Guinea you ask? A Guinea is 1 pound and one shilling. But why even have the Guinea? Because Gentlemen are paid in Guineas and common men are paid in pounds. You pay manual laborers in shillings and pounds. You pay artists and bankers in Guineas. There were Guinea coins and notes but were less common.

Pound vs Quid. Pound = 1 pound coin. Quid = 1 pound paper note

More to keep track of

2 farthings = 1 halfpenny
2 halfpence = 1 penny (1d)
3 pence = 1 thruppence (3d)
6 pence = 1 sixpence (a 'tanner') (6d)
12 pence = 1 shilling (a bob) (1s)
2 shillings = 1 florin ( a 'two bob bit') (2s)
2 shillings and 6 pence = 1 half crown (2s 6d)
5 shillings = 1 Crown (5s)

a florin (a two shillings or 2 bob or 2 bob bit)
10 x 2/- = 1
a half-crown ( 2/6d) (2 shillings and 6 pence)
8 x 2/6d = 1
a crown (5/-) (five shillings or 5 bob)
4 x 5/- = 1
a half-sovereign (ten shillings or 10 bob)
2 x 10/- = 1
a half-guinea (10/6d) (10 shillings and 6 pence)
2 x 10/6d = 1/1/-

How could any newcomer possibly keep this straight and not get swindled?
Madman
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AG
aalan94
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Quote:

How could any newcomer possibly keep this straight and not get swindled?
When I was in Poland in 1995, they were swapping out the currency and whopping off 4 decimal points on it. Everyone carried little conversion charts. I'm sure I made money on a purchase once or twice.
BQ78
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AG
What if mothers sold their babies to gypsies for half a crown?

They still talk about bob and quid. But I supposed they get confused when we say buck, penny or
Benjamins
HollywoodBQ
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AG
Reminds me of a summer trip we took from Saudi Arabia circa 1984 where we went to Athens and then Rome before heading to the USA.

In Greece, it was about 82 Drachmas per USD and then when we got to Italy it was about 1500 Lira per USD. It cracked me up that their currency could be so sad that 1500 of it was still a coin.

I've traveled to two countries where hey lopped 3 zeroes off the currency. In 1993 in Mexico they were going from old pesos to new pesos. And in 2010 when I went trough Taiwan, they had prices in old Taiwan Dollars and $N to signify the new Taiwan Dollars.

In Australia, circa 2016, they celebrated the 50th Anniversary of Decimal Currency. Prior to that, they had been using British Pounds. Including Shillings and the lot.
https://www.ramint.gov.au/bite-size-pages/decimal-currency

They produced commemorative 50 cent coins for this Anniversary.

As a side note, the older parents I knew from my daughters swanky private school would also talk about singing "God Save the Queen" as the national anthem before they adopted "Advance Australia Fair" in 1984.
aalan94
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AG
We still sing "God Save the King" but we changed the lyrics to "My Country Tis of Thee."
ChipFTAC01
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My in laws are English. We've had several conversations about what a **** show decilimization was.
OldArmy71
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As a student of literature, I was very disappointed when I went to England in 1990 and discovered they had gone to the decimal system.
OldArmy71
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AG

Quote:

How could any newcomer possibly keep this straight and not get swindled?

I'm sure I've seen it in other movies too, but I think there's a scene in Band of Brothers in which one of the Easy Company guys tries to pay for the laundry, and just holds his hand out filled with coins and the lady shuffles through them and takes the right amount.
30wedge
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Madman said:

I am currently reading a book, The Road to Wigan Pier, and had to look up a few things not being familiar with the money in the UK in 1937. And as a quick aside for those of you who have read Wigan Pier, did you understand the title as a joke?

Anyway until 1971 the money in the UK was not on the decimal system. And the following currency amounts were available.

1 pound = 20 schillings
1 shilling = 12 pennies
1 penny = either 2 half pennies or 4 qtr pennies (farthings)

But we are not done. What is a Guinea you ask? A Guinea is 1 pound and one shilling. But why even have the Guinea? Because Gentlemen are paid in Guineas and common men are paid in pounds. You pay manual laborers in shillings and pounds. You pay artists and bankers in Guineas. There were Guinea coins and notes but were less common.

Pound vs Quid. Pound = 1 pound coin. Quid = 1 pound paper note

More to keep track of

2 farthings = 1 halfpenny
2 halfpence = 1 penny (1d)
3 pence = 1 thruppence (3d)
6 pence = 1 sixpence (a 'tanner') (6d)
12 pence = 1 shilling (a bob) (1s)
2 shillings = 1 florin ( a 'two bob bit') (2s)
2 shillings and 6 pence = 1 half crown (2s 6d)
5 shillings = 1 Crown (5s)

a florin (a two shillings or 2 bob or 2 bob bit)
10 x 2/- = 1
a half-crown ( 2/6d) (2 shillings and 6 pence)
8 x 2/6d = 1
a crown (5/-) (five shillings or 5 bob)
4 x 5/- = 1
a half-sovereign (ten shillings or 10 bob)
2 x 10/- = 1
a half-guinea (10/6d) (10 shillings and 6 pence)
2 x 10/6d = 1/1/-

How could any newcomer possibly keep this straight and not get swindled?
It's no wonder they lost the war.
HollywoodBQ
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AG
OldArmy71 said:


Quote:

How could any newcomer possibly keep this straight and not get swindled?
I'm sure I've seen it in other movies too, but I think there's a scene in Band of Brothers in which one of the Easy Company guys tries to pay for the laundry, and just holds his hand out filled with coins and the lady shuffles through them and takes the right amount.
Yep, I've done that sort of thing many times in foreign countries.
Especially ones where the money is complicated and/or I didn't speak the language.

In some countries with currencies that are hundreds or thousands to one against the US Dollar and they use a lot of coins, it's very easy to misjudge and over pay or under pay by a factor of 10-50x.
Ag_of_08
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I remember going and pulling out 10,000 colones notes from arm's in Costa Rica. That one took a while to get used to.
Buck Turgidson
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Great description by OP. My wife constantly watches movies and TV shows set in England and I never could make any sense of the currency when they talked about it.

Now please tell me why they say "and Bob's your uncle" as a way of concluding a set of instructions!
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