Shilling - Great Britain and The United Kingdom

Great Britain and The United Kingdom

The common currency created in 1707 by Article 16 of the Articles of Union continued in use until decimalisation in 1971. Before decimalisation, there were 20 shillings per pound and 12 pence per shilling, and thus there were 240 pence in a pound. Three coins denominated in multiple shillings were also in circulation at this time. They were:

• the florin, two shillings (2/-), which adopted the value of 10 new pence (10p) at decimalisation;
• the half-crown, two shillings and sixpence (2/6) or one-eighth of a pound, which was abolished at decimalisation (otherwise it would have had the value of 12½p);
• the crown (five shillings), the highest denominated non-bullion UK coin in circulation at decimalisation (in practice, crowns were commemorative coins not used in everyday transactions).

At decimalisation, the shilling coin was superseded by the new five-pence piece, which initially was of identical size and weight and had the same value, and inherited the shilling's slang name of a bob.