What is the british pound

The British currency is the pound sterling. The sign for the pound is

GBP = Great British Pound

We do not use the Euro. Although a few of the big shops will accept Euro, it is rarely used across Britain.

Since decimalisation in 1971 , the pound has been divided into 100 pence.

The pound () is made up of 100 pence (p) exactly like the dollar is split into 100 cents. Round like the English pound

The singular of pence is "penny". The symbol for the penny is "p"; hence an amount such as 50p is often pronounced "fifty pee" rather than "fifty pence".

We have both coins and banknotes.

Current coins are:

1 penny, 2 pence, 5 pence, 10 pence, 20 pence, 50 pence, 1 pound, and 2 pounds.

Current bank notes are:

The 5 pound note, the 10 pound note, the 20 pound note and the 50 pound note.

Old money conversions to money used today

• Six pence - 2½p
• One shilling (or 'bob') - 5p
• Half a crown (2 shillings and sixpence) - 12½p
• One guinea - £1.05
• Round like the English Pound