Value of the dollar versus the pound sterling
tjkillian
Posts: 5,578 ✭✭✭
I have been reading way too much on 18th century furniture (my new craze), and prices are quoted in pounds. What was the conversion rate of the new U.S. Dollar in 1794 against the British pound sterling?
What does the three digits represent in the following: <FONT size=4>£1-3-5 </FONT>
Also, how many pennies per shilling, shillings per pound were there in the 18th century England?
What does the three digits represent in the following: <FONT size=4>£1-3-5 </FONT>
Also, how many pennies per shilling, shillings per pound were there in the 18th century England?
Tom
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1 farthing (the lowest value coin) = 1/4 penny
A ha'penny (Half penny - a copper coin) = 1/2 penny (pronounced "heipni")
1 penny (a copper coin) = one of the basic units (1d)
Threepence or Thruppenny Bit = 3 pence (pronounced "thrupence")
Sixpence (a silver coin also called a 'tanner') = 6 pence
1 shilling = 12 pence (1s)
1 florin (a silver coin that numismatists regard as one of the most beautiful medieval English coins) = 2 shillings
A half-crown = 2 shillings and 6 pence
1 crown = 5 shillings = 1/4 pound
1 pound = 20 shillings = 240 pence (£1)
1 sovereign = a gold coin with a face value of one pound (about .24 ounces of 22 carat gold)
Farthings were not produced after 1956 and were withdrawn in 1960, because of inflation. In preparation for decimalisation, the ha'penny was withdrawn in 1969, with the half-crown being withdrawn the year after.
A penny was often called a copper after the metal it was minted from.
Pound coins were not minted before the 19th century – the silver equivalent of the pound circulated in shillings and crowns.
A guinea (first issued on February 6th, 1663) was sometimes used as a unit of account. A guinea was a gold coin, originally made of gold from the Guinea coast of Africa, worth 21 shillings (or one pound and 1 shilling) in old British money. A guinea was considered a more gentlemanly amount than £1. A gentleman paid his tailor in shillings, but his barrister in guineas.
One shilling is now equal to five (new) pence making a guinea worth one pound and five pence in todays currency (£1.05).
Thank you very much!!
Experience the World through Numismatics...it's more than you can imagine.
I don't think anybody answered this question yet.
L1 3/ 5d is 1 pound 3 shillings 5 pence.
The florin (2 shilling piece) was added to to the British system in 1849. It was an early attempt at decimialization since it represented exactly 1/10 pound. The half crown ( 2 1/2 shillings - 61 US cents - 1837- WWI) and florin (two shillings - 49 cents) were pretty close together in value (as were the double florin - 4 shillings and crown - 5 shillings). South Africa had half crowns and no florins while Australia had florins and no half crowns. Nobody else tried a double florin.
1837 - WWI period the pound was worth $4.86+. It was worth slightly less in the 1790's.