Shilling (British coin) in the context of "Decimal Day"

The standard circulating coinage of the United Kingdom, British Crown Dependencies and British Overseas Territories is denominated in pennies and pounds sterling (symbol "£", commercial GBP), and ranges in value from one penny sterling to two pounds. Since decimalisation, on 15 February 1971, the pound has been divided into 100 pence (shown on coins as "new pence" until 1981). Before decimalisation, twelve pence made a shilling, and twenty shillings made a pound.

British coins are minted by the Royal Mint in Llantrisant, Wales. The Royal Mint also commissions the coins' designs; however they also have to be accepted by the reigning monarch.

The guinea (/ˈɡɪniː/; commonly abbreviated gn., or gns. in plural) was a coin, minted in Great Britain between 1663 and 1814, that contained approximately one-quarter of an ounce of gold. The name came from the Guinea region in West Africa, from where much of the gold used to make the coins was sourced. It was the first English machine-struck gold coin, originally representing a value of 20 shillings in sterling specie, equal to one pound, but rises in the price of gold relative to silver caused the value of the guinea to increase, at times to as high as thirty shillings. From 1717 to 1816, its value was officially fixed at twenty-one shillings, (one pound and one shilling, £1.05). At 2023 prices, the purchasing power of an 1815 guinea was about £98.

In the Great Recoinage of 1816, the guinea was demonetised and replaced by the gold sovereign. Following the Great Recoinage, the word "guinea" was retained as a colloquial or specialised term, even though the coins were no longer in use; the term guinea also survived as a unit of account in some fields. Notable usages included professional fees (medical, legal, etc.), which were often invoiced in guineas, and horse racing and greyhound racing, and the sale of rams.

The crown was a denomination of sterling coinage worth a quarter of one pound (five shillings, or 60 pence). The crown was first issued during the reign of Edward VI, as part of the coinage of the Kingdom of England.

Always a heavy silver coin weighing around one ounce, during the 19th and 20th centuries the crown declined from being a real means of exchange to being a coin rarely spent, and minted for commemorative purposes only. Unlike in some territories of the British Empire (such as Jamaica), in the UK the crown was never replaced as circulating currency by a five-shilling banknote.

The British pre-decimal penny was a denomination of sterling coinage worth 1⁄240 of one pound or 1⁄12 of one shilling. Its symbol was d, from the Roman denarius. It was a continuation of the earlier English penny, and in Scotland it had the same monetary value as one pre-1707 Scottish shilling, thus the English penny was called sgillin in Scottish Gaelic. The penny was originally minted in silver, but from the late 18th century it was minted in copper, and then after 1860 in bronze.

The plural of "penny" is "pence" (often added as an unstressed suffix) when referring to an amount of money, and "pennies" when referring to a number of coins. Thus 8d is eightpence or eight pence, but "eight pennies" means specifically eight individual penny coins.

Counterfeiting of the currency of the United States is widely attempted. According to the United States Department of Treasury, an estimated $70 million in counterfeit bills are in circulation, or approximately 1 note in counterfeits for every 10,000 in genuine currency, with an upper bound of $200 million counterfeit, or 1 counterfeit per 4,000 genuine notes.However, these numbers are based on annual seizure rates on counterfeiting, and the actual stock of counterfeit money is uncertain because some counterfeit notes successfully circulate for a few transactions.