Yahoo Answers is shutting down on 4 May 2021 (Eastern Time) and, as of 20 April 2021 (Eastern Time), the Yahoo Answers website will be in read-only mode. There will be no changes to other Yahoo properties or services, or your Yahoo account. You can find more information about the Yahoo Answers shutdown and how to download your data on this help page.

?
Lv 7
? asked in Arts & HumanitiesHistory · 1 month ago

Is this correct; twelve pennies made a shilling and twenty shillings made a pound in old British money?

26 Answers

Relevance
  • 1 month ago
    Favourite answer

    Indeed they did.

    There were 240 OLD  pennies in one OLD pound

    And twenty one shillings made a Guinea  although that was no longer in use when I was a boy in the 1950's and 60's.

    There was also a "farthing" which was a quarter of a penny.

    Plus a "half crown" which was 2 shillings and six pence ( twelve and a half pence today) and a "florin" or two shillings ( ten pence today)

    My first wage packet in 1965 as an apprentice carpenter totalled £3:19 shillings and sixpence.

    In today's money I probably couldn't get a decent burger for it!

  • ?
    Lv 7
    1 month ago

    And don't forget  guineas, farthings. 

  • Yes, you are correct. I remember visiting Great Britain long before decimal currency was introduced in 1971, and was fascinated by their currency. Ah, such nostalgia!

    "Iliveinthetoilet"'s answer is first-rate. I still have a threepenny bit, if he wants it.

  • ?
    Lv 6
    1 month ago

    yes till the metric system was partialy introduce in England in the 1970's , now it in lots of 10 , 10 pennies to a shilling and 10 shillings to a pound , use to make accounting hard in the old system .. you use to have pennys till the american revolution .

  • What do you think of the answers? You can sign in to give your opinion on the answer.
  • Anonymous
    1 month ago

    let us not forget the Groat 4 pennies and the Half Groat 2 pennies

  • 1 month ago

    Originally, pennies were silver. 240 silver pennies weighed one pound. So yes, there were 12 pennies to a shilling and 20 shillings to a pound.

    When the coinage was debased due to inflation, the system remained even though weight was no longer relevant. 240 of the big old copper pennies from the 1800s up to 1967 weighed quite a bit more than a pound. Almost 5 pounds, to be exact. While being worth one pound Sterling.  The currency 'sterling' outlived silver as well.

  • 1 month ago

    Yes. That's how LSD worked. 

  • ?
    Lv 6
    1 month ago

    The shilling (1/-) was a coin worth one twentieth of a pound sterling, or twelve pence. Prior to Decimal Day in 1971 there were 240 pence in one pound sterling. ... Twelve pence made a shilling, and twenty shillings made a pound.

  • 1 month ago

    4 farthings = 1 penny

    2 ha'pennies = 1 penny

    thrupnee bit = 3 pence (plural of penny)

    12 pence = 1 shilling

    half crown = 2 shillings 6 pence (but there was no crown)

    20 shillings = 1 pound

    21 shillings = a guinea (no coin, but term used)

  • ?
    Lv 6
    1 month ago

    The British are a work of art.

    The monetary system bases itself on "pounds". But when you weigh them on a scale, they're no longer "pounds", they've turned to "stone".

    Everyone talks about the "dumbing down of America", but the Brits fell into this pit a long time ago. 🤣

Still have questions? Get answers by asking now.