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?
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?