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Old British Pound

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supgog's Avatar
Israel
2420 Posts
 Posted 01/02/2013  3:45 pm Show Profile   Bookmark this topic Add supgog to your friends list Get a Link to this Message Number of Subscribers
I heard somewhere that a British pound was once a pound (weight) of sterling silver.

I have just seen today a florin, which had "a tenth of a pound" written on it.

This would make a pound 20 shillings, which weight ~113 gr, far from the pound weight unit we know today.

Could anyone please explain to me how it works?

(I'm a US coin collector, and only recently have developed interest in British silver coins).

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Windchild's Avatar
Canada
1411 Posts
 Posted 01/02/2013  3:54 pm  Show Profile   Bookmark this reply Add Windchild to your friends list Get a Link to this Reply
Maybe posting this in the British Coin forum would be better

By the time the Florin was introduced, the currency had been debased , so the pound being one pound of sterling was no long true.
The Penny was no longer being produced of silver, as it was when a pound was 1 pound of sterling silver.
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That Canadian Guy's Avatar
Canada
156 Posts
 Posted 01/02/2013  4:53 pm  Show Profile   Bookmark this reply Add That Canadian Guy to your friends list Get a Link to this Reply
This was waaaaaaaay back in the day when the penny was first struck in the eight century. Back then the penny was a silver coin that weighed one 240th of a pound. This is where the division of the pound came into play and this was the basis for hundreds of years after in the sense that there were 240 pence in a pound all the way until decimalization in 1971. So back in the day, 240 silver pennies actually weighed one pound. But of course over time the weight was changed and the metal was debased and so on. Throughout it's lifespan the pennies value inflated and it was debased and all of that and made smaller to the point where it wasn't an easy coin to use so in 1797 they introduced a much larger copper piece.

So if you have 10 silver florins or 20 silver shilling or 40 silver sixpence's and so on you will find that it will not equal one pound in weight because things have been changed oh so many times through out history.

The florin that you have that says "a tenth of a pound" is referring to its denomination and the pound currency, not the weight.
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Sap's Avatar
Australia
16868 Posts
 Posted 01/02/2013  6:31 pm  Show Profile   Bookmark this reply Add Sap to your friends list Get a Link to this Reply
The origin of the "pound" as a unit of currency dates way back to Saxon times. Late in the reign of King Offa of Mercia (ruled AD 757â€"796) a new coin was introduced to replace the tiny, debased-silver stycas used up until then. The coin's weight and fineness were copied from the silver denier issued by the Frankish king Charlemagne over in Europe. The weight of the new "penny" was 1/240th of a tower pound. This is also, incidentally, why a "pennyweight" is 1/240th of a pound.

A "tower pound" is a now-obsolete weight unit, weighing just over 350 grams or 15/16ths of a troy pound. 1 pennyweight under this system was 1.46 grams. One pound of money remained one tower pound of silver until 1158, when King Henry II debased the fine silver coinage; the weight stayed the same but the fineness dropped to 92.5%. This "sterling silver" remained the fineness standard of British coins (with a few interruptions) until 1920.

Once the pound-of-money had been decoupled from the pound weight, inflation saw the coin gradually shrink; although the fineness remained constant (more or less; a few of the "bad kings" like Henry VIII tried to fiddle with it), the weight of the silver penny dropped. King Henry II's sterling penny weighed 1.46 grams. By 1497 it had dropped to 0.97 grams, and the milled silver penny of Charles II and later monarchs weighs 0.5 grams; finally the Great Recoinage of 1816 fixed the weight at 0.4713 grams; this is the weight of the Maundy Penny still issued by Britain today.

Larger silver denominations, from the crown to the threepence, all weigh exact multiples of the silver penny. The florin, with "1/10th of a pound" on it, had a face value of 24 pence, so ought to weigh 11.3 grams.
Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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supgog's Avatar
Israel
2420 Posts
 Posted 01/02/2013  7:51 pm  Show Profile   Bookmark this reply Add supgog to your friends list Get a Link to this Reply
Thanks everyone for the info .
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