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Two shillings and sixpence (half a crown, or an eighth of a £) was written as '2/6', rarely as '2s 6d' ('d' being the abbreviation for denarius, a penny). The shilling itself was equal to twelve pence. In the traditional pounds, shillings and pence system, there were 20 shillings per pound and 12 pence per shilling, making 240 pence in a pound.
Under this system, there were 12 pence in a shilling and 20 shillings, or 240 pence, in a pound. Although the standard ledger accounting system recorded only pounds, shillings and pence, actual minted coins could represent one, several or fractions of these units.
The British shilling, abbreviated "1s" or "1/-", was a unit of currency and a denomination of sterling coinage worth 1 ⁄ 20 of one pound, or twelve pence. It was first minted in the reign of Henry VII as the testoon, and became known as the shilling, from the Old English scilling, [1] sometime in the mid-16th century. It circulated until 1990.
Before decimalisation in 1971, the pound was divided into 240 pence rather than 100, though it was rarely expressed in this way. Rather it was expressed in terms of pounds, shillings and pence, where: £1 = 20 shillings (20s). 1 shilling = 12 pence (12d). Thus: £1 = 240d.
Prior to decimalisation in 1971, there were 12 pence (written as 12d) in a shilling (written as 1s or 1/-) and 20 shillings in a pound, written as £1 (occasionally "L" was used instead of the pound sign, £). There were therefore 240 pence in a pound. For example, 2 pounds 14 shillings and 5 pence could have been written as £2 14s 5d or £2/14/5
A shilling was worth twelve pence, [1] [2] and there were 20 shillings to the pound sterling. [3] The English shilling was introduced in the 16th century and remained in circulation until it became the British shilling as the result of the Union of England and Scotland to form the Kingdom of Great Britain in 1707. [3]
Australian currency was originally based on British pounds, shillings and pence. That changed in 1966, when the country converted to Australian dollars and cents, similar to the U.S. system ...
It was the first English machine-struck gold coin, originally representing a value of 20 shillings in sterling specie, equal to one pound, [2] but rises in the price of gold relative to silver caused the value of the guinea to increase, at times to as high as thirty shillings. From 1717 to 1816, its value was officially fixed at twenty-one ...