In the UK today, we use a decimal currency with 100 pennies (p) in the pound (£). Before 1971, our currency was made up of pounds (£), shillings (s) and pence (d). There were 240 old pennies to the pound and a shilling was 20 old pennies.
This tool helps you understand historical prices and wages by converting old money into decimal values. For inflation-adjusted modern values, use our inflation calculator.
Before 15 February 1971 (Decimal Day), the UK used the £sd system which had been in place for more than 1,000 years:
Common coins: farthing (¼d), halfpenny (½d), penny (1d), threepence (3d), sixpence (6d), shilling (1s or 12d), florin (2s), half-crown (2s 6d), crown (5s)
Common notation: amounts were written as £5 10s 6d or £5/10/6 (five pounds, ten shillings and sixpence)
To find the modern purchasing power of historical amounts, first convert them here, then use our inflation calculator.