Can somebody pleas explaine the British monetary system? Not for any practical purpose. Its just that when watching movies I really don’t understand. I also would like to know about historical and slang usage. I am asking about terminology, ie. 4 pounds six, or 3 quid, etc. 
The new British currency system is a simple decimalized one like the rest of the civilized world has. There are 100 pence in a pound. A penny is a one-pence coin. “Quid” is slang for pound, equivelent to “buck” for dollar.
The old system, used prior to 1971, is completely nonsensical and doesn’t make sense to anyone, not even the Brits. I imagine that’s why they got rid of it.
pound = 12 shillings or 240 pence
Quid = slang for pound
Pence = plural of penny
shilling = 1/20th of a pound, or 12 pence
bob = slang for shilling
guinea = 21 shillings. Long ago there used to be gold coins worth that amount.
In later years, “guineas” used to be used in quoting some professional fees and certain kinds of prices. Paul McCartney said his bass guitar cost 60 guineas–it was actually 65 pounds.
Crown= a coin worth five shillings, or a quarter of a pound. Also sometimes called a “dollar” colloquially. It was roughly similar in value.
In the days of the Conan Doyle stories, a pound worth was quite a lot, about like USD $100 would be today. Which reminds me:
sovereign = a gold pound coin. This was about the same size and weight as the American gold $5 coins of the era. Now those really were “golden dollars”!
Thanks!
Oops, I didn’t do that right. (60 guineas * 21 shillings )/(20 shillings) = 63 pounds.
Even with a calculator it’s hard working in that system.
I’m sure you really meant 20 shillings in a pound.
There are 12 pence in a shilling.
Coins commonly used prior to decimalization were
1/2 pence (ha’penny) – tiny copper coin
1 penny – large copper coin, about the size of a Kennedy half dollar
3 pence (thruppence) – a polygon (12 sided? 10?) shaped bronze colored coin about the size of a nickel
6 pence – silver coin about the size of a dime
1 shilling (bob) – silver, in between a nickle and quarter in size
2 1/2 shillings (half crown) – slilver, slightly larger than a quarter
Holy Cow!! I am starting to get more confused. No wonder I have a hard time with books, T.V., and movies that mention british money. Is it really this confusing? Do people still use the terms?
And once upon a great while ago, we are told there were farthings - 1/4 pence.
In fact, the last ones were minted in 1956. At 960 to a pound, even 50 years ago that wouldn’t buy much.
This no more nonsense than 12 inches to the foot and three feet to the yard !
An just to reinforce the explanation , shillings, half crowns and the old pennies ( ie 240 to the pound ) ceased to exist in 1971.
No. The only terms in widespread use are penny, pound and quid. There are some slang terms for multiples of these, though, like “monkey” (just look at how Owlstretchingtime talks), although I have no idea what they are. Of course, “bob” is sometimes used in expressions, like “that must have cost a couple of bob” regarding something that looks expensive, and “nobody asked for your two penneth” about someone who should shut up.
Is the information provided here generally applicable throughout the United Kingdom? Or is it specific to England?
The Scottish have their version of the pound, called the haggis.
This applies to the whole of the UK. I can’t think of any specific slang words for money in Scotland , Wales or Northern Ireland.
On thing to add, Scotland still uses £1 notes ( bills ) while the rest of the UK changed over to using coins for that denomination a few years ago. Technically Scottish £1 notes are not legal tender outside of Scotland.
Naughty, naughty, +MDI 
We do still have pound notes (as well as coins) just to be different, though.
Take the Queen’s shilling- join the forces.
In a right two and eight (2shillings and eight pence) Cockney rhyming slang for in a right state
Tuppenny halfpenny- two and a half pence- small beer
In for a penny in for a pound
Penny farthing bicycle
Thruppenny Bits- Three pence pieces- rhyming slang for tits
Scottish notes also have different designs than English and Welsh ones. I think banks can issue their own notes in Scotland (pretty sure I’ve seen Clydesdale ones) whereas in England they’re all issued by the Bank of England.
But at that time it could probably buy more than a penny does today. It’s hard to imagine now that 50 years ago $20,000 was considered a large salary, and from what I’ve seen the UK has undergone similar inflation since then.
halfpenny- about the size of a half dollar
penny- huge- larger than any US coinage in circulation
Thruppenny Bit- 12 sided thick coin
Sixpenny bit- a little larger than a dime
Shilling- very similar to a quarter
florin- about half dollar size, a bit thicker
Half Crown- Slightly larger than the UK penny and much thicker
Crown- enormous , but not really in circulation.
Oh, and I can still add up Lsd in my head- not a very useful skill nowadays!
Strictly speaking, they didn’t cease to exist; they just ceased to be minted. Although I didn’t happen to see any on my last visit to the U.K. a couple of years ago, at least as late as the early '90s I would still occasionally find a shilling in my change. It was still worth 1/20 of a pound, which is 5 new pence as opposed to 12 old pence. The modern 5p coin is the same size and weight as the old shilling, so they could be used interchangeably in vending machines.