How many pence are in a pound?

There are 240 pence, or 20 shillings, in a pound. There are 12 pence in a shilling. These three values were part of the pre-decimal currency system once used across Europe, a system popularly known as "£sd."

The symbol for pounds is "£," the symbol for shillings is "s," and the symbol for pence (the plural of penny) is "d." These abbreviations originate from the Latin currency denominations librae, solidi and denarii. The £sd system became common in 1066, after the Norman conquest, and lasted until February 15, 1971. The United Kingdom was the last country to give up this monetary system and switch to decimalized currencies.