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Gold and fine silver coins now had the same sizes and compositions in Scotland and England, but Scotland did maintain its own copper coinage. The Scottish and English coinages both used the same royal title, king of Great Britain, France and Ireland, and when they specified a denomination it was a Roman numeral which could be interpreted as ...
Scottish "unicorns" from the reigns of James III (top left) and James IV (bottom right) 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 ...
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 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 origin of £/, s, and d were the Latin terms Libra, meaning a pound weight (with the £ sign developing as an elaborate L), solidus (pl. solidi), 20 of which made up one Libra, and denarius (pl. denarii), 240 of which made up one Libra with 12 being equal to one solidus. These terms and divisions of currency were in use from the 7th century.
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The Penny Scots was a unit of the Pound Scots, the currency of Scotland until the Acts of Union 1707. The word "penny" ( Scottish Gaelic : peighinn , but see below) was used in Scottish parlance for money generally; for example, a "penny-fee" was an expression for wages, [ 1 ] a "penny-maister" would be a town treasurer, and a "penny-wedding ...