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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.
A 1933 UK shilling 1956 Elizabeth II UK shilling showing English and Scottish reverses. The shilling is a historical coin, and the name of a unit of modern currencies formerly used in the United Kingdom, Australia, New Zealand, other British Commonwealth countries and Ireland, where they were generally equivalent to 12 pence or one-twentieth of a pound before being phased out during the 1960s ...
6 shillings – Connecticut, Massachusetts, New Hampshire, Rhode Island, Virginia; 7 1 ⁄ 2 shillings – Delaware, Maryland, New Jersey, Pennsylvania; 8 shillings – New York, North Carolina; 32 1 ⁄ 2 shillings – South Carolina; Continental currency depreciated badly during the war, giving rise to the famous phrase "not worth a ...
The crown coin was nicknamed the dollar. In 1940, an agreement with the US pegged the Pound sterling to the US dollar at a rate of £1 = US$4.03. This meaning of "dollar" is not to be confused with the British trade dollar that circulated in East Asia. In 2014, a new world record price was achieved for a milled silver crown.
The Commonwealth of Pennsylvania issued Continental currency denominated in £sd and Spanish dollars, with 1 dollar equalling 7 shillings and 6 pence. The continental currency was replaced by the United States dollar at a rate of 1000 continental dollars = 1 U.S. dollar in 1793.
A currency with three new decimal units was proposed as a compromise to the Canadian legislature: 10 "minims" would be worth 1 "mark", 10 "marks" worth 1 shilling, and 10 shillings worth 1 "royal". A "mark" thus would have been worth 1 1 ⁄ 5 d, and a "royal" would have been worth 2 crowns or half a pound.
However, the value of this first issue of notes declined relative to silver coins and, in 1704, the "Old Tenor" notes were introduced, again at a value of 1 Massachusetts shilling = 9d sterling. The value of these notes also declined and they were followed, in 1737, by the "Middle Tenor" issue, worth 3 times the Old Tenor notes, and, in 1741 ...
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 ...