great britain - British pence

Browse our collection of British pence

The term sterling is derived from the fact that, about the year of 775, silver coins known as “sterlings” were issued in the Saxon kingdoms,[6][dubious – discuss] 240 of them being minted from a pound of silver, the weight of which was probably about equal to the later troy pound. Because of this, large payments came to be reckoned in "pounds of sterlings", a phrase that was later shortened to "pounds sterling". After the Norman Conquest, the pound was divided for simplicity of accounting into 20 shillings and into 240 pennies, or pence.