Some of the common terms we use for money have interesting origins and meanings. We unfortunately lost a lot of our historic money slang in 1971 when the UK went decimal. Pounds, shillings and pence were known as ‘LSD’. When we had twelve pennies to a shilling, and twenty shillings to a pound there was a whole history of slang in use, a lot of it cockney rhyming. This particular language originated in London and was a type of coded talk. (A cockney was a Londoner born within hearing distance of the sound of Bow bells at Church of St Mary Le Bow, London, EC2).
The money used in the UK before 1971 was made up of varied coinage: A farthing, halfpenny, thruppence, sixpence or a ‘tanner', a shilling or a ‘bob', a two shilling or florin, a half-crown (two shillings and sixpence), a ten shilling note, a pound note, a guinea (twenty-one shillings), five, ten and twenty pound notes.
Decimalisation brought the end of the interesting money language, like the ‘bob’ or ‘Thrupenny bit’ and 100 ‘new pence’ or ‘p’ now made up the pound. Cockney slang has brought some modern slang for our pounds and pence.
Fiona Howard specializes in writing for the financial and business market, and is a well-respected city analyst. She currently advises Loan-Loans-Mortgage, one of the leading UK online sites for finding a fast Loan for HM Forces Members or a Business Start Up Loan