Britain had a complex monetary system before decimalization in 1971, which involved several coins that are no longer in use . This system was known as pounds, shillings, and pence, or £sd.
Some of the most common former British coins include:
- Farthing: Worth ¼ of a penny, this coin was in circulation until 1960.
- Halfpenny: Worth ½ of a penny, it circulated until 1969.
- Penny: The basic unit of pence, worth 1d.
- Threepence: Worth 3d, sometimes called a “threepenny bit,” it was in circulation until 1971.
- Sixpence: Worth 6d or half a shilling, also known as a “tanner”. It continued to circulate for a while after decimalization as 2½ new pence until 1980.
- Shilling: Worth 12 pence, or 1/-, sometimes called a “bob,” this coin remained in circulation as 5 new pence until 1990.
- Florin: Worth two shillings, or 2/-, also known as a “two-bob bit” or a “two-shilling piece”. It remained in circulation as 10 new pence until 1993.
- Half-Crown: Worth two shillings and sixpence, or 2/6, also called “two and six” or “half a crown”. This coin stopped being legal tender on January 1, 1970.
- Crown: Worth five shillings, or 5/-, according to The Royal Mint Museum.
- Guinea: Initially a gold coin worth one pound, its value fluctuated, and it was eventually standardized at 21 shillings.
It’s important to remember that some of these coins, especially the older or more valuable ones, might be considered collectibles and worth more than their face value today.
What is the name of the old British coins?
Thanks for asking. Until 1971, British money was divided up into pounds, shillings and pence. One pound was divided into 20 shillings. One shilling was divided into 12 pennies. One penny was divided into two halfpennies, or four farthings.
What is the former British gold coin called?
With that competition gone, the sovereign became a popular circulating coin, and was used in international trade and overseas, being trusted as a coin containing a known quantity of gold.
What is an old English coin?
The shilling, also known as a “bob,” was a key coin in the British monetary system from the Tudor period until decimalisation in 1971. The term “shilling” is believed to have originated from the Old English “scilling,” a word used to denote an account or payment.