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The British shilling, abbreviated "1s" or "1/-", was a unit of currency and a denomination of sterling coinage worth ⁄ of one pound, or twelve pence. It was first minted in the reign of Henry VII as the testoon, and became known as the shilling, from the Old English scilling, [ 1] sometime in the mid-16th century. It circulated until 1990.
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The pound ( sign: £) is the main unit of sterling, [ 4] and the word pound is also used to refer to the British currency generally, [ 5] often qualified in international contexts as the British pound or the pound sterling. [ 4] Sterling is the world's oldest currency in continuous use since its inception. [ 6]
The British florin, or two- shilling piece ( 2/– or 2s. ), was a coin worth 1⁄10 of one pound, or 24 pence. It was issued from 1849 until 1967, with a final issue for collectors dated 1970. It was the last coin circulating immediately prior to decimalisation to be demonetised, in 1993, having for a quarter of a century circulated alongside ...
The United Kingdom's pound sterling was the primary reserve currency of much of the world in the 19th century and first half of the 20th century. [1] That status ended when the UK almost bankrupted itself fighting World War I [ 31 ] and World War II [ 32 ] and its place was taken by the United States dollar.
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