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Scottish coinage was still in circulation in the later 18th century, but the changeover was made a little easier due to common currency in the nomenclature.
The merk (Scottish Gaelic: marg) is a long-obsolete Scottish silver coin. Originally the same word as a money mark of silver, the merk was in circulation at the end of the 16th century and in the 17th century. It was originally valued at 13 shillings 4 pence (exactly 2 ⁄ 3 of a pound Scots, or about one shilling sterling), later raised to 14s ...
The value of some coins fluctuated, particularly in the reigns of James I and Charles I. The value of a guinea fluctuated between 20 and 30 shillings before being fixed at 21 shillings in December 1717. These are denominations of British, or earlier English, coins – Scottish coins had different values.
The Scottish Mint was the Kingdom of Scotland's official maker of Scottish coinage. There were a number of mints in Scotland, for the production of the Scottish coinage with the most important mint being in the capital, Edinburgh , which was active from the reign of David I (1124–1153), and was the last to close, in the 19th century.
No gold coinage was issued from 1638 to 1700, but new silver coinage was issued from 1664 to 1707. [2] With the Acts of Union 1707, the pound Scots was replaced by sterling coin at the rate of 12:1 (£1 Scots = twenty pence sterling), although the pound Scots continued to be used in Scotland as a unit of account for most of the 18th century.
The British pre-decimal penny was a denomination of sterling coinage worth 1 ⁄ 240 of one pound or 1 ⁄ 12 of one shilling.Its symbol was d, from the Roman denarius.It was a continuation of the earlier English penny, and in Scotland it had the same monetary value as one pre-1707 Scottish shilling.
A bawbee was a Scottish sixpence. The word means a debased copper coin, valued at six pence Scots (equal at the time to an English half-penny), issued from the reign of James V of Scotland to the reign of William II of Scotland. They were hammered until 1677, when they were produced upon screw presses.
The unicorn was a gold coin that formed part of Scottish coinage between 1484 and 1525. It was initially issued in the reign of James III with a value of 18 shillings Scots, [1] but rising gold prices during the reign of James V caused its value to increase first to 20 shillings, and then 22. [2] The obverse of the coin shows a crowned unicorn.
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