Monetary Unit:
1 Pound = 20 Shillings = 240 Pence ( up to 1971)
1 pound = 100 pence (1971 onward)
The old Lsd system came about because 240 silver pennies weighed 1 Lb (1 pound weight) so therefor there was 240 silver pennies to the pound (£) check out more history of British money here
Above are two versions of the 10 shilling note which was equal to 1/2 of a pound and called a 10 bob note. the top one has no date (ND) but the signature says that it is from the 1962-66 issue and has Britannia seated with a shield on the reverse. The bottom note is from 1955-60 issue , again with no date but with the L.K.O'Brien signature. These notes were replaced with a 50p coin after 1971.
The top 1 Pound note here, with the L.K.O'Brian signature is from 1960-61 issue again has no date but has queen Elizabeth II on the front and Britannia on the reverse. while the bottom £1 note (front and reverse) is the £1 note from 1948-49 issue (signature K.O.Peppiatt).it was announced that £1 notes were to be withdrawn in 1986, in England and wales only, and replaced by £1 coins
For Scottish notes see here
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