List of British banknotes and coins, with commonly used terms.
See main article: Coins of the pound sterling.
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 origin of £/
ak{L}
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.
| Coin | Pre-decimalisation value | Post-decimalisation value | Dates of use | Notes | |
|---|---|---|---|---|---|
| Mite | d | £0.0001736 | 15th century | The Flemish groat approximately matched the English penny c 1420-1480 and was divided into 24 mites. The latter was thus extended to mean penny or farthing even if not minted in Tudor England.[1] [2] | |
| Quarter farthing | d | £0.00026 | 1839–1868. | [3] | |
| Third farthing | d | £0.0003472 | 1827–1913. | ||
| Half farthing | d | £0.00052083 | 1828–1868. | ||
| Farthing | d | £0.00104167 | c. 1200–1960. | The word "farthing" means "fourth part" (of a penny). | |
| Halfpenny | d | £0.0021 | 1272–1969. | Often called a "ha'penny" (pronounced), plural halfpennies ("ha'pennies") for the coins, halfpence ("ha'pence") for the monetary amount. | |
| Three farthings | d | £0.0031 | 1561–1582. | ||
| One penny | 1d | £0.0042 | 757–1970 (and thereafter only for Maundy). | Commonly called a "copper"; plural "pennies" for the coins, "pence" for the monetary amount | |
| Three halfpence | 1d | £0.0063 | 1561–1582, 1834–1870. | Pronounced as "three-ha'pence". | |
| Half groat | 2d | £0.0083 | 1351–1662. | ||
| Twopence | 2d | £0.0083 | silver 1668–current (for Maundy); copper 1797–1798. | Pronounced "tuppence". | |
| Threepence | 3d | £0.0125 | silver 1547–1945 (and thereafter only for Maundy), nickel-brass 1937–1970. | Sometimes called "thripp'nce", "thrupp'nce", "threpp'nce" or "thripp'ny bit", "thrupp'ny bit". Referred to as a "joey" after the groat was no longer in circulation, as featured in George Orwell's Keep the Aspidistra Flying. | |
| Groat | 4d | £0.0167 | silver 1279–1662, 1836–1862 (and thereafter only for Maundy). | Referred to as a "joey" after Joseph Hume, the economist and Member of Parliament until it stopped being issued in 1885.[4] | |
| Sixpence | 6d | £0.025 | 1547–1970; circulated from 1971 to 1980 with a value of two and a half decimal pence. | Also called "tanner", sometimes "tilbury",[5] or "joey" after the groat was no longer in circulation. | |
| Shilling | 1/- | £0.05 | 1502–1970, circulated from 1971 to 1990 with a value of five decimal pence. | Also called a "bob", in singular or plural. | |
| Quarter florin or helm | 1/6 | £0.075 | 1344 | Gold coin demonetized within one year. [6] | |
| Gold penny | 1/8 to 2/- | £0.0833 to £0.1 | 1257–1265. | Gold. Undervalued for its metal content and extremely rare. | |
| Quarter noble | 1/8 | £0.0833 | 1344–1470. | ||
| Quarter angel | 2/- | £0.1 | 1547–1600. | Gold. | |
| Florin or two shillings | 2/- | £0.1 | 1848–1970, circulated from 1971 to 1993 with a value of ten decimal pence. | Not to be confused with the gold medieval florin. | |
| Half crown | 2/6 | £0.125 | 1526–1969. | Sometimes known as "half a dollar" (see Crown below). | |
| Half florin or leopard | 3/- | £0.15 | 1344 | Gold; extremely rare. | |
| Half noble | 3/4 to 4/2 | £0.1667 to £0.2083 | minted 1346–1438. | increased in value in 1464 | |
| Half angel | 3/4, later 5/6 | £0.1667, later £0.275 | 1470–1619. | ||
| Double florin | 4/- | £0.2 | 1887–1890. | Silver. | |
| Crown of the rose | 4/6 | £0.225 | 1526–1551. | ||
| Dollar (British coin) | 5/- | £0.25 | 1804–1811, (withdrawn 1818) [7] | Silver, overstruck on Spanish 8 Reales coin. | |
| Crown | 5/- | £0.25 | 1526–1965. | Sometimes known as "a dollar" – from the 1940s when the exchange rate was four USD to the GBP. | |
| Quarter guinea | 5/3 | £0.2625 | 1718, 1762. | ||
| Florin or double leopard | 6/- | £0.3 | 1344. | Gold; demonetized within one year. | |
| Noble | 6/8, later 8/4 | £0.3333, later £0.4167 | 1344–1464. | Increased in value in 1464. | |
| Angel | 6/8 | £0.3333 | 1461–1643. | ||
| Half mark | 6/8 | £0.333 | [medieval period] | A unit of account, not a coin. Convenient as it was exactly one-third of a pound. | |
| Third guinea | 7/- | £0.35 | 1797–1813. | ||
| Rose noble or ryal | 10/-, later 15/- | £0.5, later £0.75 | 1464–1470, 1487, 1553–1603. | Increased in value from 1553. | |
| Half sovereign | 10/- | £0.5 | 1544–1553; 1603–1604; 1817–1937 | A bullion coin since 1980. | |
| Half pound | 10/- | £0.5 | 1559–1602; 1642–1644 | ||
| Double crown | 10/- | £0.5 | 1604–1619; 1625–1662. | ||
| Half laurel | 10/- | £0.5 | 1619–1625. | ||
| Half unite | 10/- | £0.5 | 1642–1643. | ||
| Half guinea | 10/6 | £0.525 | 1669–1813. | ||
| Mark | 13/4 | £0.667 | [medieval period] | A unit of account not a coin, but widely used. | |
| Spur ryal | 15/- | £0.75 | 1604–1625. | ||
| Sovereign | 20/- | £1 | 1489–1604; 1817–1937 | A bullion coin since 1957. | |
| Unite | 20/- | £1 | 1604–1619; 1649–1662. | ||
| Laurel | 20/- | £1 | 1619–1644? | ||
| Carolus | 20/-, later 23/- | £1, later £1.15 | reign of Charles I. | ||
| Broad | 20/- | £1 | 1656. | ||
| Guinea | 21/- | £1.05 | 1663–1799, 1813. | ||
| Rose Ryal | 30/- | £1.50 | 1604–1625. | ||
| Two pounds | 40/- | £2 | 1823–1937. | Gold; "double sovereign". | |
| Two guineas or double guinea | originally 40/-, later 42/- | originally £2, later £2.10 | 1664–1753. | Originally known as a "forty-shilling piece"; value changed to forty-two shillings after the Proclamation of 1717 finally settled the value of a guinea. | |
| Fifty shillings | 50/- | £2.50 | 1656. | ||
| Triple unite | 60/- | £3 | 1642–1644. | ||
| Five pounds | 100/- | £5 | 1826–1990. | Gold. | |
| Five guineas | originally 100/-, later 105/- | originally £5, later £5.25 | 1668–1753. | Originally known and valued as five pounds, but became five guineas when the guinea was standardised at one pound and one shilling in 1717. |
Since decimalisation on "Decimal Day", 15 February 1971, the pound has been divided into 100 pence. Originally the term "new pence" was used; the word "new" was dropped from the coinage in 1983. The old shilling equated to five (new) pence, and, for example, £2 10s 6d became £2.52. The symbol for the (old) penny, "d", was replaced by "p" (or initially sometimes "np", for new pence). Thus 72 pence can be written as £0.72 or 72p; both were commonly read as "seventy-two pee".
| Name | Value | Notes | |
|---|---|---|---|
| p | Sometimes written "ha'penny" (pronounced), but normally called a "half-pee"; demonetised and withdrawn from circulation in December 1984. | ||
| 1p | |||
| 2p | |||
| 5p | A direct replacement for the shilling. The coin was reduced in size in 1990. | ||
| 6p | Minted uniquely in 2016 as a commemorative coin.[8] | ||
| 10p | A replacement for the florin (two shillings). The coin was reduced in size in 1992. | ||
| 20p | Introduced in 1982. | ||
| 25p | A commemorative coin issued between 1972 and 1981 as a post-decimal continuation of the old crown. From 1990 it was replaced in the commemorative role by the £5 coin. | ||
| 50p | Introduced in 1969, just prior to decimalisation, to replace the ten shilling note ("ten bob note"). It was initially sometimes called a "ten bob bit". The coin was reduced in size in 1997. | ||
| £1 | Introduced in 1983 to replace the one pound note. | ||
| £1 | Gold bullion coins, available in four other sizes too: quarter sovereign (25p), half sovereign (£), double sovereign (£2) and quintuple sovereign (£5). | ||
| £2 | Issued as a commemorative coin from 1986 and in general circulation from 1998 (dated from 1997). | ||
| various values | Gold and silver bullion coins, either one — or multiples, or fractions of — troy ounces. | ||
| £5 | Introduced in 1990 as a commemorative coin, as a continuation of the old crown, replacing the commemorative role of the twenty-five pence coin. | ||
| various values | Bullion / collectors' coins issued in 2018 to 2021; 1 troy ounce of silver, with a value of £2, or 10 troy ounces, valued at £10.[9] | ||
| £20 | Introduced in 2013 as a commemorative coin.[10] | ||
| £50 | Introduced in 2015 as a commemorative coin.[11] | ||
| £100 | Introduced in 2015 as a commemorative coin.[12] |
Main articles: Banknotes of the pound sterling and Bank of England note issues.
Note: The description of banknotes given here relates to notes issued by the Bank of England. Three banks in Scotland and four banks in Northern Ireland also issue notes, in some or all of the denominations: £1, £5, £10, £20, £50, £100.
| Name | Value | Circulation | Notes | |
|---|---|---|---|---|
| Five shilling note | 5/- (£0.25) | non-circulating | Originally issued by the treasury in 1914-1928. Not replaced by Bank of England notes. | |
| Ten shilling note | 10/- (£0.50) | non-circulating | Originally issued by the treasury in 1914. Replaced by Bank of England notes from 1928. Commonly known as "ten bob note" or "half a quid". 1914–1970. |
| Name | Value | Circulation | Notes | |
|---|---|---|---|---|
| £1 note | £1 | non-circulating in circulation | Withdrawn in England and Wales in 1988. It is still issued by the Royal Bank of Scotland, and still used in some of the Channel Islands. Commonly known as a "quid". | |
| £5 note | £5 | in circulation | The original "large white fiver" five pound note was known as "five jacks" and replaced in 1957 by the blue £5 note. Now also known as a "fiver". | |
| £10 note | £10 | in circulation | Also known as a "tenner". | |
| £20 note | £20 | in circulation | Also known as a "score". | |
| £50 note | £50 | in circulation | Also known as a "bullseye". | |
| £100 note | £100 | in circulation | Issued by Scottish and Northern-Irish banks only. | |
| £1,000,000 note | £1,000,000 | non-circulating | Also known as a "Giant". Used as backing for banknotes issued by Scottish and Northern Irish banks when exceeding the value of their 1845 reserves. The amount to be covered is over a billion pounds.[13] Also issued in 1948 as a temporary measure during the postwar reconstruction in the Marshall Plan.[14] | |
| £10,000,000 note | £10,000,000 | non-circulating | Used as backing for banknotes issued by Scottish and Northern Irish banks when exceeding the value of their 1845 reserves. The amount to be covered is over a billion pounds. | |
| £100,000,000 note | £100,000,000 | non-circulating | Also known as a "Titan". Used as backing for banknotes issued by Scottish and Northern Irish banks when exceeding the value of their 1845 reserves. The amount to be covered is over a billion pounds. |
Bank of England notes are periodically redesigned and reissued, with the old notes being withdrawn from circulation and destroyed. Each redesign is allocated a "series". Currently the £50 note is "series F" issue whilst the £5, £10 and £20 notes are "series G" issue. Series G is the latest round of redesign, which commenced in September 2016 with the polymer £5 note, September 2017 with the polymer £10 note, and February 2020 with the polymer £20 note.[15]