An abbreviation for the pre-
decimal currency system in the
United Kingdom.
L = pounds (the "L" comes from the Latin word for pound,
libra, and a pound sign "£" is still a stylised L)
S = shillings
D = pence (the "D" again comes from Latin, this time from
the word denarius which was a unit of currency in the Roman Empire)
The basic divisions were:
- 1 pound = 20 shillings
- 1 shilling = 12 pence
- 1 penny = 4 farthings (literally a "fourth thing")
Hence there were 240 pennies in a pound. Just to confuse things further there
were a number of other nicknames for various amounts of currency which were
in common use (much like dime and nickel are used in modern USA).
- A half penny coin was called a ha'penny (pronounced HAYp'nee)
- Two pennies was called tuppence
- A three penny coin was called a thrupney bit (pronounced THROOPnee)
- A sixpence coin was called a tanner
- A shilling was nicknamed a bob
- A two shiling coin was called a florin
- Half a crown was a coin worth 2/6 (two shillings and sixpence)
- One pound is a quid (this term is still in common use today)
There was also a value called a guinea which was 21 shillings. This value
persists today in auctions, and also in the sale of livestock and
race horses.
If you want an idea why the UK moved over to decimal currency imagine
trying to work out prices of the following:
- 9 apples at 8 pence each
- 11 books at 7/9 (7 shillings and 9 pence) each
and so on ....