freedomdwarf1
Posts: 6845
Joined: 10/23/2012 Status: offline
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quote:
ORIGINAL: Zonie63 The British money system has always confused me ever since I was a kid and first heard the ditty "Sing a Song of Sixpence." It's easy enough to understand the value of the coins (at least when one has a chart to refer to), but I've also noticed a different way of expressing how much something is worth. Like in old movies when saying the price of something, one might hear "3 pounds, 10 shillings" or something like that. (This was also an early memory for me when I was watching the musical "Oliver" as a kid, and during the song "Boy For Sale," they say they want to sell him for "7 guineas," but someone was offering "3 pounds, 10 shillings," which I gathered to be too low an offer.) I initially believed that "shilling" referred to the equivalent of "cent" as we would use it here in the US, but I later came to understand that a shilling is just a term for a specific coin, just as we use "penny," "nickel," "dime," "quarter." But then, we wouldn't ordinarily say "3 dollars, 10 nickels." We would just say "3 dollars, 50 cents," without specifying which exact coins to use to make up 50¢. "Cent" does not refer to an actual coin, and that's why the usage of the term "shilling" threw me at first, since I associated it with "cent" when such was not the case. The old British coinage was a mystery unto itself. It originated from when the Romans invaded Britain and introduced a semi-standard way of trading using coins rather than the barter system. Some historian (years ago) explained it as a way of not having to hump goods and cargo/animals all around the country. So, if in the south, he could trade, say, 5 Libra each for his 3 pigs, and be given a pouch with coins worth 15Libra. He could then journey further up north and trade his pouch of coins for a cow or 2 goats or whatever. By using coinage, he didn't have to transport his pigs to barter for goats or cow etc. The Romans used Libra (our old £), Solidus (our old silver shilling), and Dinarius (our old silver pennies, later copper). Hence, we ended up with our £sd = pounds, shillings and pennies (pence). The pre-decimalisation British system of coinage was introduced by King Henry II. It was based on the troy system of weighing precious metals. The penny was literally one pennyweight of silver. A pound sterling thus weighed 240 pennyweights, or a pound of sterling silver. In those days, the somewhat arbitrary numbers of coins seemed sensible. There's a fun school website that explains all the stupidities of our old coinage. http://resources.woodlands-junior.kent.sch.uk/customs/questions/moneyold.htm
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“If liberty means anything at all, it means the right to tell people what they do not want to hear.” George Orwell, 1903-1950
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