Definition:Sterling/Pound

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

\(\ds \)

\(=\)

\(\ds 4\)

crowns

\(\ds \)

\(=\)

\(\ds 8\)

half crowns

\(\ds \)

\(=\)

\(\ds 20\)

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.