A Historical Journey The British pound , officially known as the pound sterling, is one of the oldest currencies still in use today. Its rich history, spanning over 12 centuries, is intertwined with the economic, political, and social evolution of the United Kingdom. This article explores the fascinating journey of the British pound, from its origins to its current status as a key global currency. Origins and Early Development The origins of the pound can be traced back to around 775 AD, when "sterlings" or silver pennies were introduced into the Anglo-Saxon kingdoms. The word "pound" referred to a pound of sterling silver. The currency system was based on the Carolingian system, with 12 pence (denarius) in a shilling (solidus) and 20 shillings in a pound (libra) - a system that would remain in place for over a thousand years. The pound gained official status with the creation of the Kingdom of England in the 10th century. During the reign of King Offa, the penny
Comments
Post a Comment