Q:
How many pence make a shilling?
A:
Quick Answer
Under the English currency system used from 1066 until Feb. 15, 1971, the shilling was divided into 12 pence; therefore a single pence, called a penny, was worth 1/12 of a shilling or approximately 8 percent of a shilling.
Continue Reading
Credit:
Howard Dickins
CC-BY-2.0
Full Answer
The word "pence" is simply the plural form of the word "penny." The single pence or penny, was further divided into two halfpence, and a halfpenny was divided into two farthings. In 1971, the United Kingdom adopted a new form of currency that simplified the monetary system and introduced the British Pound. The pound is worth 20 shillings, and a shilling is still worth 12 pennies or 12 pence. Therefore, the current pound is worth 240 Pence.
Learn more about Currency & ConversionsSources:
Related Questions
-
Q:
How much is 20 pence worth?
A: As of Sept. 4, 2014, 20 pence is equal to about 33 cents in U.S. currency. The exchange rate between the British pound and the U.S. dollar is currently 1.6... Full Answer >Filed Under: -
Q:
What factors influence the daily value of a Canadian dollar?
A: A part of the global floating exchange system, the Canadian dollar is affected by the exchange rate in which one currency is exchanged for another, says Ma... Full Answer >Filed Under: -
Q:
What are some facts about the Philippine peso?
A: Some facts about the Philippine peso include that it is a decimal system of currency, meaning that each unit is made up of 10 smaller units, and that the p... Full Answer >Filed Under: -
Q:
How does Bitcoin work?
A: Bitcoin, a digital payment system created in 2009, works by users "mining" bitcoins by solving math puzzles and encryption protocols, and then using the bi... Full Answer >Filed Under:
