Definition:Sterling/Pound

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Definition

The pound (sterling) is the main unit of the Sterling monetary system.


Symbol

The symbol for the pound sterling is $\pounds$.

It is a stylized $\textit L$, the first letter of libra, the Roman for pound.


\(\ds \) \(\) \(\ds 1\) pound
\(\ds \) \(=\) \(\ds 100\) (new) pence
\(\ds \) \(=\) \(\ds 20\) shillings
\(\ds \) \(=\) \(\ds 240\) old pence


Historical Note

The pound sterling originated from the Roman standard as the purchasing power of $1$ troy pound (in weight) of silver.