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.