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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
The euro was established in 1999, but "for the first three years it was an invisible currency, used for accounting purposes only, e.g. in electronic payments". [2] In 2002, notes and coins began to circulate. The euro rapidly took over from the former national currencies and slowly expanded around the European Union.
The old "white fiver" was withdrawn on 13 March 1961. [ 24 ] The Series B note was replaced in turn on 21 February 1963 by the Series C £5 note which for the first time introduced the portrait of the monarch, Queen Elizabeth II, to the £5 note (the Queen's portrait having first appeared on the Series C ten shilling and £1 notes issued in 1960).
List of all European currencies Country Present currency Currency sign ISO 4217 code Fractional unit Previous currency Albania lek [10]: L ALL qindarke: none Andorra euro [11] ...
The pound sterling (symbol: £; ISO 4217 currency code: GBP) is the official currency of the United Kingdom, Jersey, Guernsey, the Isle of Man, British Antarctic Territory, South Georgia and the South Sandwich Islands, and Tristan da Cunha. The Bank of England has a legal monopoly of banknote issuance in England and Wales.
Sterling (ISO code: GBP) is the currency of the United Kingdom and nine of its associated territories. [3] The pound is the main unit of sterling, [4] [c] and the word pound is also used to refer to the British currency generally, [7] often qualified in international contexts as the British pound or the pound sterling. [4]
The English name pound is a Germanic adaptation of the Latin phrase libra pondo 'a pound weight'. [6] On the Iberian peninsula, the Kingdom of Aragon adopted the Carolingian monetary system (Catalan: lliura , sou and diners ), but those of Portugal and Castile (and subsequently Spain) retained the currency system inherited from al-Andalus .
The ten euro note (€10) is the second-lowest value euro banknote and has been used since the introduction of the euro (in its cash form) in 2002. [7] The note is used in the 25 countries (and Kosovo ) that have it as their sole currency (with 24 legally adopting it), which countries have a total population of about 350 million currently. [ 8 ]