Changes

Prices expressed in pounds, shillings, and pence were typically written in the form, for example, £2 6s 4d, which was two pounds, six shillings, and fourpence; £5.0.0 which was five pounds and no shillings; 16/9, which was sixteen shillings and ninepence; and 10/-, which was ten shillings and no pence.

Prices expressed in pounds, shillings, and pence were typically written in the form, for example, £2 6s 4d, which was two pounds, six shillings, and fourpence; £5.0.0 which was five pounds and no shillings; 16/9, which was sixteen shillings and ninepence; and 10/-, which was ten shillings and no pence.

The pound is by far the oldest currency in the world still in existence, having been popularised by King [[Offa]] of [[Mercia]], ruler of [[England]], around the year 790 AD. The term 'pound' referred to the fact that it was a pound in weight of silver. Since that time the pound has remained remarkably stable, but over the centuries a certain amount of inflation has occurred, to the effect that a pound in 790 AD would have the buying power of about 38 pounds today. This compares very favourably with other world currencies such as the [[German Mark]] which underwent billion-fold inflation in a space of just a few years in the 1920s and had to be scrapped altogether.

The pound is by far the oldest currency in the world still in existence, having been popularised by King [[Offa]] of [[Mercia]], ruler of [[England]], around the year 790 AD. The term 'pound' referred to the fact that it was a pound in weight of Sterling silver. Since that time the pound has remained remarkably stable, but over the centuries a certain amount of inflation has occurred, to the effect that a pound in 790 AD would have the buying power of about 38 pounds today. This compares very favourably with other world currencies such as the [[German Mark]] which underwent billion-fold inflation in a space of just a few years in the 1920s and had to be scrapped altogether.

Today, the pound remains the third most important currency in the world in terms of international reserves, after the [[Dollar (U.S.)|U.S. Dollar]] and the [[Euro]], and ahead of the [[Yen]].

Today, the pound remains the third most important currency in the world in terms of international reserves, after the [[Dollar (U.S.)|U.S. Dollar]] and the [[Euro]], and ahead of the [[Yen]].