British Money

The currency in the UK is "pounds sterling" depicted by the symbol £ or the acronym GBP (great british pounds). Although the UK is part of the EU we have opted out of using the Euro.

The history of british money is vast and begun in the 8th century with the silver penny which was cut into farthings and halfpennys.

Current Coins and Banknotes

A major changed occurred in 1971 with the advent of decimalisation where 100 pennies equaled one pound. The current coins in circulation are:

• 1 penny or pence
• 2 pennies or pence
• 5 pennies or pence
• 10 pennies or pence
• 20 pennies or pence
• 50 pennies or pence
• 1 pound coin
• 2 pound coin

The current banknotes in circulation are:

• 5 pound note
• 10 pound note
• 20 pound note
• 50 pound note

Prior to Decimalisation

Before 1971 a different system was used in that the pound was divided into 20 shillings where each shilling was worth 12 pence thus a pound then was worth 240pence.

Other coinage used were Farthing, Halfpenny, Penny, Threepence, Sixpence, One shilling, Two shillings, Half crown, Crown and Guinea. The denominations were as follows:

• Farthing (¼d) - withdrawn in 1960
• Halfpenny (½d) (usually pronounced HAY-p'nee)
• Penny (1d)
• Threepence (3d) (usually pronounced "thruppence")
• Sixpence (6d)
• Shilling (1/-) - 12 pence
• Florin or two shillings (2/-) 24 pence
• Half a Crown (2/6) 30 pence
• Crown (5/-) - 60 pence

Slang Terms

Most coins were shortened terms or commonly "cockney rhyming slang" here are some of the most common

General Money Slang - current Money

• Money - Bread, dough, spondoolicks, moolah, wedge, lolly,
• One pound - Nicker, quid, squid, smacker
• Ten pounds - Tenner
• Five pounds - Fiver, bluey (because they are blue in colour)
• 25 pounds - Pony
• 50 pounds - Half a ton, bullseye
• 100 pounds - a Ton
• 500 pounds - Monkey
• 1000 pounds - Grand, "K" (computer terminology, like 10k)

General Money Slang - Pre-decimalisation Money

• Farthing - Mag
• Silver threepence - Joey (nickel/brass versions were called threepenny bit)
• Sixpence - Tanner
• Shilling - Bob
• Two Shillings - 2 bob bit

Cockney Slang - Some rhyming some not!

• One pound - saucepan (lid - quid), Huckleberry (Hound - pound), Alan (Whicker - nicker)
• Five pounds - Lady Godiva (fiver)
• Ten pounds - Ayrton Senna (tenner)
• 20 pounds - Score (apple core)

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