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Before Decimal Day in 1971, sterling used the Carolingian monetary system , under which the largest unit was a pound (£), divisible into 20 shillings (s), each worth 12 pence (d), the value of two pre-decimal sixpence coins. Following decimalisation, the old sixpence had a value of 2 + 1 ⁄ 2 new pence (£0.025).
Prior to decimalisation in 1971, there were 12 pence (written as 12d) in a shilling (written as 1s or 1/-) and 20 shillings in a pound, written as £1 (occasionally "L" was used instead of the pound sign, £). There were therefore 240 pence in a pound. For example, 2 pounds 14 shillings and 5 pence could have been written as £2 14s 5d or £2/14/5
Using the example of five shillings and sixpence, the standard ways of writing shillings and pence were: 5s 6d; 5/6; 5/- for 5 shillings only, with the dash to stand for zero pennies. The sum of 5/6 would be spoken as "five shillings and sixpence" or "five and six".
In 1971, a new penny would have been worth 9.6 farthings (making a farthing slightly more than 0.1 new pence). Similarly, the old halfpenny and the half-crown were not converted [clarification needed] in the UK either, [citation needed] having been withdrawn in the run-up to decimalisation, although the half-crown was worth exactly 12 1/2 new ...
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 ...
The British half crown was a denomination of sterling coinage worth 1 ⁄ 8 of one pound, or two shillings and six pence (abbreviated "2/6", familiarly "two and six"), or 30 pre-decimal pence. The half crown was first issued in England in 1549, in the reign of Edward VI , with a value half that of the crown coin .
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.
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.