The standard circulating coinage of the United Kingdom, British Crown Dependencies and British Overseas Territories is denominated in pennies and pounds sterling, and ranges in value from one penny sterling to two pounds. Since decimalisation, on 15 February 1971, the pound has been divided into 100 (new) pence. Before decimalisation, twelve pence made a shilling, and twenty shillings made a pound.
A penny is a coin or a unit of currency in various countries. Borrowed from the Carolingian denarius, it is usually the smallest denomination within a currency system. Presently, it is the formal name of the British penny (abbr. p) and the de facto name of the American one-cent coin (abbr. ¢) as well as the informal Irish designation of the 1 cent euro coin (abbr. c). Due to inflation, pennies have lost virtually all their purchasing power and are often viewed as an expensive burden to merchants, banks, government mints and the public in general.
Sterling is the currency of the United Kingdom and nine of its associated territories. The pound is the main unit of sterling, and the word "pound" is also used to refer to the British currency generally, often qualified in international contexts as the British pound or the pound sterling.
The pound was the currency of the Republic of Ireland until 2002. Its ISO 4217 code was IEP, and the symbol was £ The Irish pound was replaced by the euro on 1 January 1999. Euro currency did not begin circulation until the beginning of 2002.
Decimal Day in the United Kingdom and in Ireland was Monday 15 February 1971, the day on which each country decimalised its respective £sd currency of pounds, shillings, and pence.
£sd, spoken as "pounds, shillings and pence", is the popular name for the pre-decimal currencies once common throughout Europe. The abbreviation originates from the Latin currency denominations librae, solidi, and denarii. In the United Kingdom, these were referred to as pounds, shillings, and pence.
The British West Indies dollar (BWI$) was the currency of British Guiana and the Eastern Caribbean territories of the British West Indies from 1949 to 1965, when it was largely replaced by the East Caribbean dollar, and was one of the currencies used in Jamaica from 1954 to 1964. The monetary policy of the currency was overseen by the British Caribbean Currency Board (BCCB). It was the official currency used by the West Indies Federation The British West Indies dollar was never used in British Honduras, the Cayman Islands, the Turks and Caicos Islands, the Bahamas, or Bermuda.
The pound was the currency of Australia from 1910 until 14 February 1966, when it was replaced by the Australian dollar. Like other £sd currencies, it was subdivided into 20 shillings, each of 12 pence.
The pound is the currency of Guernsey. Since 1921, Guernsey has been in currency union with the United Kingdom and the Guernsey pound is not a separate currency but is a local issue of sterling banknotes and coins, in a similar way to the banknotes issued in Scotland, England and Northern Ireland. It can be exchanged at par with other sterling coinage and notes.
The merk is a long-obsolete Scottish silver coin. Originally the same word as a money mark of silver, the merk was in circulation at the end of the 16th century and in the 17th century. It was originally valued at 13 shillings 4 pence, later raised to 14s. Scots.
The Jamaican dollar has been the currency of Jamaica since 1969. It is often abbreviated to J$, the J serving to distinguish it from other dollar-denominated currencies. It is divided into 100 cents, although cent denominations are no longer in use as of 2018. Goods and services may still be priced in cents, but cash transactions are now rounded to the nearest dollar.
The pound is the currency of Jersey. Jersey is in currency union with the United Kingdom, and the Jersey pound is not a separate currency but is an issue of banknotes and coins by the States of Jersey denominated in sterling, in a similar way to the banknotes issued in Scotland and Northern Ireland. It can be exchanged at par with other sterling coinage and notes.
The pound is the currency of the Isle of Man, at parity with sterling. The Manx pound is divided into 100 pence. Notes and coins, denominated in pounds and pence, are issued by the Isle of Man Government.
There have been three sets of coins in Ireland since independence. In all three, the coin showed a Celtic harp on the obverse. The pre-decimal coins of the Irish pound had realistic animals on the reverse; the decimal coins retained some of these but featured ornamental birds on the lower denominations; and the euro coins used the common design of the euro currencies. The pre-decimal and original decimal coins were of the same dimensions as the same-denomination British coins, as the Irish pound was in currency union with the British pound sterling. British coins were widely accepted in Ireland, and conversely to a lesser extent. In 1979 Ireland joined the Exchange Rate Mechanism and the Irish pound left parity with sterling; coin designs introduced after this differed between the two countries.
From c. 1124 until 1709 the coinage of Scotland was unique, and minted locally. A wide variety of coins, such as the plack, bodle, bawbee, dollar and ryal were produced over that time. For trading purposes coins of Northumbria and various other places had been used before that time; and since 1709 those of the Kingdom of Great Britain, and then of the UK.
Irish coins have been issued by a variety of local and national authorities, the ancient provincial Kings and High Kings of Ireland, the Kingdom of Ireland (1541–1801), the United Kingdom of Great Britain and Ireland (1801–1922), the Irish Free State (1922–1937), and the present Republic of Ireland. Since 2002, the Republic of Ireland has minted Euro coins, featuring symbols such as flax and the harp.
The pound was the official currency of Jamaica between 1840 and 1969. It circulated as a mixture of sterling coinage and locally issued coins and banknotes and was always equal to the pound sterling. The Jamaican pound was also used in the Cayman and Turks and Caicos Islands.
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 penny was originally minted in silver, but from the late 18th century it was minted in copper, and then after 1860 in bronze.
The first coinage of the New Zealand pound was introduced in 1933 in response to large-scale smuggling of prior British imperial coinage after devaluation of New Zealand exchange rates relative to the pound sterling and large influxes of other foreign coinage into circulation. The Coinage Act, 1933 outlined the weights and compositions of various denominations, out of which five silver issues entered circulation over the following year, after lengthy disagreement between rival coinage design committees. The copper penny and halfpenny entered circulation in 1940, corresponding to anniversary of the New Zealand centennial. An eighth denomination of coin, the five-shilling piece or crown, was produced solely through three commemorative issues. The first issue, the Waitangi crown, was produced in extremely limited quantities and sold to collectors. Later commemorative crown issues in 1949 and 1953 were produced for circulation.
