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In one of Shakespeare's plays, the Merchant of Venice, the currency seemed to be ducats, and with a little research I have found that these were gold coins which were in circulation generally in Europe before the 1st World War - gold as an international currency - most of our money now is just a promise to pay, in many cases little more than an empty promise! http://en.wikipedia.org/wiki/Ducat Also look at this page: http://en.wikipedia.org/wiki/Pound_sterling where you will find out that the Pound Sterling is one of the oldest currencies in the world. The first sterling banknotes were introduced in 1694, so before that there would have been gold coins such as the ducat, or the sovereign which was worth one pound.
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∙ 15y ago
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∙ 13y agoThe English coinage was evolving during the 1400's and bore very little resemblance to the Pound, Shillings and Pence of the 19th and 20th centuries.
The Pound was more of a bookkeeping value rather than a unit of currency, and was based on 240 Pennies weighing One Pound, which is how the monetary term "Pound" came into use. The Shilling or its predecessor, the Testoon had yet to enter the currency.
The Noble was a gold coin with a value varying from 80 to 120 Pence over a period of years and economic circumstances. The Noble was replaced by the gold Ryal and then the gold Angel coin of 80 Pence. Each of these coins had half and quarter denominations.
The smaller denominations were all made from silver and included the Groat (Fourpence), Halfgroat (TwoPence), Penny, Halfpenny and Farthing.
The Penny has been the basic unit of the English currency for well over 1,200 years.
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∙ 11y agoPounds, Shillings and Pence.
12 Pence to the Shilling and 20 Shillings to the Pound.
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∙ 14y agothey used guinnies and shillings
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∙ 15y agoThe Pound Sterling.
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