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Moreover, the introduction of the first pound coin - the gold sovereign - was still more than half a century away. My guess is that you could power a biggish town for a year on all the wasted time and effort that is consumed needlessly handling and processing these coppers. The 'control' standard twelve ounce pound Troy, along with the 'control' 36 inch yard, were later held from c. The penny 'D' in LSD, and also lower case 'd' more commonly used when pence alone were shown, was from 'Denarius' also shown as 'denari' or 'denarii' , a small and probably the most common silver Roman coin, which loosely equated to one day's pay for a labourer. The old 'Guinea' was for the last years of its existence equal to twenty-one shillings, but it was originally a gold coin worth twenty shillings, whose value was based on the value of the gold content when it was first issued in , when it effectively replaced the Sovereign. The designer Matthew Dent is from Bangor in Wales, which ironically is not represented on the shield. Its value the shillings and pennies it was worth changed over time - as did the values of early Sovereigns and Pound coins during the th centuries. The innovatively styled designs of the new British coins will provide plenty more opportunities to have fun with money, quite aside from earning it and spending it. It was to take many hundreds of years before coin production and values were to be unified into a consistent national standard. The first and original one pound coin was in fact the gold Sovereign, which came into existence in The name Sovereign derived from the coin's majestic appearance and design, which showed the King Henry VII seated on a throne, with the Royal coat of arms, shield and Tudor rose on the reverse. At that time the minting of coins was not centrally controlled activity. This basis of valuation, together with the spasmodic approach to the issuing of new weights standards and coins many decades could pass between changes and coinage issues - and the effect of the deterioration of the quality and effective reduction in metal content of coins in circulation, created completely different effects on coin values compared with the system of fixed values that apply today. The Troy weight system dated back to the end of the first millennium. The word is from Old High German 'skilling' which was their equivalent for a higher value coin than the German pfenning. The Roman 'pondos' effectively led to the earliest formally controlled English weight, first called the Saxon Pound, subsequently known as the Tower Pound, so called because the 'control' example the 'old mint' pound was kept in the Tower of London. While sources of British money slang vary widely, London cockney rhyming slang features particularly strongly in money slang words and their origins. In medieval Europe several different versions of Pounds weights and therefore values were used for different commodities for which they were traded. The pennies were not known as 'Tealbay' in the 12th century, they subsequently acquired the name because a hoard of the coins was found at Tealby, Lincolnshire in A contributing theme was the theory that the hallmark for what became known as Sterling Silver featured a starling bird, which many believe became distorted through misinterpretation into 'sterling'. The root gave similar 'Penny' names across Europe, originally meaning a coin or money, for example Old High German pfenning and recently pre-Euro 'pfennig' , and Danish 'penge'. Incidentally the term 'Pounds Sterling' - the modern name of the British currency system - can be traced back to the reign of Henry II, ie. Since 'copper' coins are copper-plated steel. Money, and its amazing aspects of culture, design, society, history, language, finance, science, manufacture, technology, diversity, etc. The oldest English forms, pre , were penig and pening. It weighed The Pound had been a unit of currency in various forms for centuries but the gold Sovereign was the first coin issued with that value. The slang term coppers derives from pre-decimalisation days when pennies and ha'pennies were more substantial and popular copper coins. Penny is therefore a very old word indeed. They will keep pub drunks amused for hours.. Coins were the only form of money up until , when the first 'banknote', actually a goldsmith's note, was issued.{/INSERTKEYS}{/PARAGRAPH} The value of the Guinea actually reached thirty shillings during the s. This weight standard also became known as Troy, which system was adopted as the legal standard for gold and silver in During the 12th century, at the time when the English monetary system was being more unified and centrally controlled, the Troy systems of weight and money were inextricably related: ie. Here are the remarkable new British coin designs, first revealed by the Royal Mint on 2 April The designs make more sense, and the concept becomes more interesting, when you see the coins in 'shield' formation. Three free original gold, limited edition businessballs juggling balls awaits the first person to send me a picture of themselves or a rich friend holding kissing, caressing, okay too one of the five-grand 22 carat coin sets Old English money, and more recent pre-decimalisation money, with its language and slang, was infinitely more interesting and colourful than anything contributed by modern coinage and banknotes. The Solidus was originally an Imperial Roman coin introduced by Constantine c. The Merchants Pound, weighed grains, and was established by about for all commodities except gold, silver and medicines, but by about this was generally superseded by the 16 ounce grains pound weight of recent centuries, known as the Avoirdupois Pound. The word Shilling has similar origins. The name is from the city of Troyes in France, which was an important trading city in the Middle Ages. Perhaps redesign Africa, or the night sky, or a Freeview set-top box which lasts more than three weeks. Coins were produced on a local, regional and independent basis, closely linked to the trades and traders who used them. Many slang expressions for old English money and modern British money technically now called Pounds Sterling originated in London, being such a vast and diverse centre of commerce and population. Similar words and meanings again are found all over Europe. Whatever, the winning entry belongs to 26 year-old graphic designer Matthew Dent, upon whose success Angela Eagle MP Exchequer Secretary to the Treasury is quoted as suggesting that his designs " Well done Matthew. Featuring different parts of the Shield of the Royal Arms, the design was chosen via a public competition, attracting more than 4, entries. A 'Pennyweight' was the weight of a Sterling Silver penny. Shilling was actually not the origin of the S. In around the word was 'scilling', and coins were close to solid silver. Pounds value and Pounds weight were closely linked in various forms during the middle ages as weight and monetary systems developed. God help us all if the country ever has anything serious to get worked up about. Nevertheless, the slang word 'Sovs' meaning pounds is still in use today and derives directly from this very old coin. And, although the last one was minted in , many traditional auction houses were, up until decimalisation in , still trading in Guineas notionally that is, since there were no coins or notes worth a Guinea in circulation. The front of the coins the 'front' according to the Mint, although what makes it the front and not the back? Where do you go from there? The development of coinage and money systems was a very gradual process lasting many hundreds of years. I like the thought that at least a few sets bought by unhealthily wealthy people will be plundered by their naughty children and spent at the local sweetshop. The coins entered circulation starting Summer and you could and perhaps still can buy a lovely commemorative set for less than a tenner including postage direct from the Royal Mint. By the early 12th century an English Penny was a firmly established solid silver coin worth one-twelfth of a shilling, and incredibly silver pennies continued in production, although sizes and purities changed, until c. Troy was the weight and payment system for precious metals and gems, whereas Avoirdupois was used for commodities. This was remarkable loyalty to the Guinea given that essentially it was replaced in the currency by the Sovereign in Incidentally the Guinea is so-called because it was mostly minted from gold which came from Guinea in Africa. The word 'Penny' is derived from old Germanic language. Whatever; shilling is another extremely old word. This basic form of pounds shillings pence currency was certainly in use by the 9th century. Weights and coinage standards were directly linked because coins were valued according to their metal content. The shifting basis of coin values is how the Guinea came to have a value of twenty-one shillings. Using coins whose values were so closely connected to the value of the precious metal content also led to some strange and amusing practices, notably around the 13th and 14th centuries: coins would be 'clipped' by the unscrupulous because the clippings would of course be valuable which eventually led to coins being designed and minted with rims and milled edges ; coins would be transported to Europe, melted and alloyed with other metals, re-made into pennies and shipped back to England; and coins would be cut into halves or quarters to make 'change'. It would then have been written as 'punde', changing to 'pound' by around The word 'pound' is originally derived from the Latin 'pondos' the word for the Roman twelve ounce weight , which related to the meaning of hanging a weight on scales to weigh or value something, from which root we also have the word 'pendant'. Today a platinum cylinder 'control' version of the 16 ounce Avoirdupois Pound exists at the London Standards Office, in the custody of the Board of Trade. In the publicity for these new coin designs the Royal Mint included a reassuring note that the new coins will join about 27 billion existing coins in circulation, including million featuring Britannia. The history of money and its terminology, formal and slang, is fascinating - the language was and remains full of character, and although much has been lost, much still survives in the money slang words and expressions of today. The Royal Arms is divided into four parts: England represented by the lions in the first and fourth quarters, the Scottish lion 'rampant' in the second, and the harp of Ireland in the third, with all four quarters spread over the six coins from the 1p to the 50p. The use of the word Pound as a unit of English money was first recorded over a thousand years ago - around Then it was most commonly interpreted to weigh twelve ounces, like the earlier Roman version of this weight. An alternative Merchants Pound was confusingly also in use during this time, introduced from France and Germany, and weighed grains. S of course was associated with shilling but originally derived from the Roman coin 'Solidus' prior to in English translations shown as 'Solidy', and also shown more recently in English as 'Solidi' and 'Solidii', being Latin plural versions. Not surprisingly the value of Sovereign coins, as circulating currency, and as collector items, increased somewhat over time. The origins of slang money expressions provide amusing and sometimes very significant examples of the way that language develops, and how it connects to changing society, demographics, political and economic systems, and culture. Fascinating also is the clearly implicit commitment for the next several years at least to persist minting the increasingly pointless 1p and 2p coins, which since about even small children have been throwing away in the street when given them in change. Some think the root might be from Proto-Germanic 'skeld', meaning shield. This indicates the sensitivity attached to changes such as these, not least the ridiculous media-stoked nationalist outrage and indignation at the anticipated loss of Britannia from our coinage. The original derivation was either from Proto-Germanic 'skell' meaning to sound or ring, or Indo-European 'skell' split or divide. This seems a strange concept today, but the logic was sensible for the times when the values of coins were based on their precious metal content, which in turn was largely due to people's mistrust of the Government what's new? The symbols of the pre-decimal British money therefore had origins dating back almost two thousand years. This explains the trick question: Why does an ounce of gold weigh more than an ounce of feathers, yet a pound of feathers weighs more than a pound of gold? The Easterling area was noted for its It was also noted for its expertise in silver refining, and it was these techniques as well as the silver itself that Henry II imported when he arranged for the production of 'Tealbay Pennies', which formed the basis of the silver coinage quality standard established at the time. {PARAGRAPH}{INSERTKEYS}Slang money words and expressions appear widely in the English language, and most of these slang words have interesting, often very amusing, meanings and origins. The derivation of the Sterling word is almost certainly from the use of 'Easterling Silver' the metal itself and the techniques for refining it which took its name from the Easterling area of Germany. Whoever said that 'money makes money' was not lying. So, this section is partly a glossary of British cockney and slang money words and expressions, and also an observation of how language can be affected as systems such as currency and coinage change over time. Still, the Pounds Shillings Pence structure, ie twelve pennies to a shilling, and twenty shillings to a pound was established by the end of the first millennium. This is the biggest design change in British coins for over forty years, and the first time ever that a design has been spread cunningly over a range of coins. In a commission was appointed to consider matters, and following the report in the 16 ounce Avoirdupois Pound finally replaced the pound Troy as the overall standard.