On Wed, 13 Nov 2002, at around 18:05:59 local time, Michael Hargreave
Mawson <OC@46thFoot.com> wrote:
>On Wed, 13 Nov 2002, at around 07:32:15 local time, Javier Vidaurre Ch.
><vidaurre@rocketmail.com> wrote:
>>Hello all,
>>
>>Please clarify:
>>
>>Quid = ?
>>
>>Is it the same as Bob as in "10 bob note", the one
>>mean Mr. Mustard kept up his nose? (fab 4 reference).
>>
>>What other names are there for UK currency?
>
>Xavier,
>
>For some reason, this came up on the list a few weeks before you joined.
>Extremely lengthy response (converted into an article for an Antipodean
>magazine) on its way to you by private e-mail...
Since I have discovered that the discussion was on the Herald list, not
this one, I thought I'd share the article with the Spit list:
UNDERSTANDING BRITISH CURRENCY
by Michael Hargreave Mawson
I am frequently asked by non-Britons to explain what is meant by some
term or other relating to British currency, particularly pre-decimal
currency. This is hardly surprising. Few other countries have such a
long continuous history of coinage - the first pennies were struck in
the seventh century AD - and none has such a complicated one. The
following article attempts to describe the more-recent history of
British money. It is to be hoped that when next you read a 1960s issue
of "Autocar" and see a period accessory priced at "19/6," you will be
able to understand what on earth it means!
First of all, Britain only went decimal (i.e. adopted 100 "new" pence to
the pound) on 15th February, 1971. Prior to that, we used a currency
that had 240 pence to the pound, and a bewildering variety of coins. A
large number of people living in this country still have a tendency to
think (and speak) in terms of pre-decimal coinage. Although it is
getting less common now, you can still hear people exclaim in horror,
"I'm not paying ten bob for that!"
Pre-decimal money was based on the pound, and symbolised by a gothic
capital "L" with a line through it. This was derived from the Latin
"Libra". Each pound was made up of 20 shillings, symbolised by a
lower-case "s". This was derived, not from the first letter of
"shilling," but from the first letter of the Latin "sestertius" (or, say
some sources, "solidus"). Each shilling was made up of 12 pence,
symbolised by a lower-case "d". This was derived from the Latin
"denarius". Prices were expressed in several ways, for example
"#1.12.6" (one pound, twelve shillings and sixpence) or "10/6" (ten
shillings and sixpence) or "6d." (sixpence). Now read on...
Farthing, (pl. farthings) - smallest unit of currency, worth 1/4d. Taken
out of circulation at the end of 1960.
Ha'penny (pron. hayp-knee; pl. ha'pence pron. hay-p'nce) - 1/2d. coin.
Taken out of circulation on 1st August, 1969. The term is also used
for the tiny decimal 1/2p coins, which were removed from circulation in
December, 1984.
Penny (pron. pee when referring to new pence; pl. pennies when referring
to coins, pence or pee when referring to values) - 1d. or, (post-1971),
1p coin.
Tuppenny bit - post-1971 2p coin (also a number of Georgian and earlier
2d. coins)
Generically, farthings, ha'pennies, pennies, and tuppenny bits are
called "coppers" as they were all made from that metal, although modern
"coppers" have been made from copper-plated steel since 1992.
Threppence/Thruppence/Thruppenny bit/Joey - 3d. coin. Originally
silver, later brass. Silver thruppenny bits were the traditional lucky
coins hidden in plum puddings. They did not survive decimalisation.
Groat - mediaeval coin worth 4d.
Sixpence/Tanner/Sprarzi - silver coin worth 6d. (half a shilling).
Remained in circulation (worth 2.5p) until June 1980. Traditional
payment of the tooth fairy. My kid now gets a pound coin!
Shilling/Bob (pl. bob) - silver coin worth 12d. or, post-1971, 5p (in
each case, a twentieth of a pound). "Five-pee-pieces" gradually
replaced shillings in circulation from 1968, and the last pre-decimal
shillings were demonetized on 31st December, 1990.
(Note - sums in excess of a shilling were expressed verbally as, for
example, "one and two," or "one and tuppence," for "one shilling and
two pence". 18d. was "one-and-a-tanner" or "one-and-six". 13d.,
however, was "one and a penny").
Florin/Two-bob-bit - silver coin worth two shillings, or 24d. Survived
decimalisation as the "ten-pee-piece", and was in simultaneous
circulation with 10p coins from 1968. Pre-decimal florins ceased to be
legal tender on 30th June, 1993.
Half-a-crown/Half-a-dollar - large silver coin, worth two shillings and
six pence ("two-and-six"). Not carried on into decimal coinage, and in
fact demonetized on 1st January, 1970.
A twenty-pee - attractive seven-sided silver-coloured coin, introduced
in 1982. Makes an absolute mockery of the concept of *decimal*
coinage, as does, of course, the two-pound coin (q.v.).
Crown - a very large and weighty silver coin worth five shillings: not
commonly seen in circulation. Often issued to commemorate specific
events - royal anniversaries, Churchill's funeral and the like. Not
carried over into decimal coinage.
Half-mark/Half-merke - a mediaeval unit of currency without a coin,
worth a third of a pound, or six shillings and eight pence.
Half-sovereign - small gold coin worth ten shillings. Taken out of
circulation and replaced with paper money in 1915. Later
half-sovereigns were produced as bullion, and were worth their weight in
gold.
Ten Bob Note - small brown and white note, worth 10 shillings, or half a
pound. In simultaneous circulation with the "fifty-pee-piece" from
1968, and replaced by it in 1971. The seven-sided fifty-pee-piece was
reduced in size in 1997, presumably in response to complaints from
overseas visitors, who tended to perceive it more as a Ninja
throwing-star than a coin of the realm.
Generically, all coins from a thruppenny bit to a fifty-pee-piece are
called "silver" (not, be it noted, "silvers"). The last coins to be
made in pure silver were those minted in 1919. After that date, the
silver content was reduced, and then replaced altogether (in 1947) with
a cupro-nickel alloy.
Mark or Merke - a mediaeval unit of currency without a coin, worth
two-thirds of a pound, or 13/4. Strangely, almost exactly the
equivalent of the Euro, which was also a unit of currency without a coin
until this year.
Sovereign - gold coin worth a pound. Taken out of circulation in 1915.
Later sovereigns were produced as bullion, and were worth their weight
in gold. Sovereigns were replaced in circulation by the pound note,
which has more slang names than I can think of at the moment. These
included "quid," (pl. "quid") "sov," (pl. "sovs") "nicker" (pl.
"nicker") and (a late entry, dating from the early eighties, when beer
went up to #1 a pint) "folding beer-token" (pl. "folding beer-tokens").
The pound note was replaced by the pound coin in 1983.
Guinea - perhaps the most bizarre unit of currency ever invented. It
was worth one pound and one shilling. Mainly used when discussing
large sums of money - the original prize for the famous horse-race was
1000 Guineas, not 1000 Pounds.
Two-pound coin - a recent introduction (in 1997), this is a very
attractive two-piece coin, approximately the size of an old half-crown,
with a silver-coloured central disc and a gold-coloured "tyre". Despite
being considerably more weighty than pound coins, these have found wide
acceptance, and I personally think they are the prettiest decimal coin
ever minted. They have yet to gain a slang term of their own.
Some people wonder why we ever gave up our wonderfully-quirky
pre-decimal money. If you are wondering the same thing, I invite you
to multiply three pounds, nine shillings and fivepence farthing by
seven. Then divide four pounds, nineteen shillings and ninepence by
4.75. I'll come back and check your work in half an hour or so...
(C) Copyright Michael Hargreave Mawson, 2002.
************************************************************************
The answers to the questions in the last paragraph are:
S
P
O
I
L
E
R
S
(a) #24.6.0 1/4 and (b) a guinea.
ATB
--
Mike
Ellie - 1963 White Herald 1200 Convertible GA125624 CV
Connie - 1968 Conifer Herald 1200 Saloon GA237511 DL
Carly - 1977 Inca Yellow Spitfire 1500 FM105671
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