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.
Is this correct; twelve pennies made a shilling and twenty shillings made a pound in old British money?
- 1 month agoFavourite 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!
- 1 month ago
And don't forget guineas, farthings.
- 1 month ago
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.
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.
- Anonymous1 month ago
let us not forget the Groat 4 pennies and the Half Groat 2 pennies
- curtisports2Lv 71 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.
- AnonymousLv 71 month ago
Yes. That's how LSD worked.
- tham153Lv 71 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)
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. 🤣