The Nigerian pound was the currency of Nigeria between 1907 and 1973. Until 1958, Nigeria used the British West African pound; the pound was subdivided into each of 12 pence. The Nigerian pound was replaced with the introduction in 1973 of the decimal naira at a rate of 1 pound = 2 naira; this made Nigeria the last country to abandon the £sd currency system. Coins were issued in 1959 in denominations of 1, 3 and 6 pence, 1 and 2 shillings; the 1/2 and 1 penny coins were holed. The 3 pence coin, minted in nickel-brass, was a smaller version of the distinctive twelve-sided threepenny bits that were used in the UK, Jersey; the higher denominations were struck in cupro-nickel. In 1918, emergency issues were made by the government in denominations of 10 and 20 shillings. In 1959, the Central Bank of Nigeria introduced notes in denominations of 5 and 10 shillings, 1 and 5 pounds. Three series of notes were issued, in 1958, 1967 and 1968. Economy of Nigeria
The Biafran pound was the currency of the breakaway Republic of Biafra between 1968 and 1970. The first notes denominated in 5 shillings and £1 were introduced on January 29, 1968. A series of coins was issued in 1969. In February 1969, a second family of notes was issued consisting of 5 shilling, 10 shilling, £1, £5 and £10 denominations. Despite not being recognised as currency by the rest of the world when they were issued, the banknotes were afterwards sold as curios and are now traded among banknote collectors at well above their original nominal value; the most common note is the 1968 and 1969 1 pound notes, with the 10 pound note and all coins being rare. Nigerian pound Nigerian naira Postage stamps and postal history of Biafra Banknotes of Biafra."Archived copy". Archived from the original on 2011-06-29. Retrieved 2006-01-13. CS1 maint: Archived copy as title CS1 maint: BOT: original-url status unknown Coins with Nigerian naira Information from Biafraland. A detailed article on the banknotes of the Biafran pound pjsymes.com.au Coins from Biafra - Online Coin Club
The Jamaican pound was the official currency of Jamaica between 1840 and 1969. It circulated as a mixture of British currency and local issues and was always equal to the British pound; the Jamaican pound was used by the Cayman Islands and Turks and Caicos Islands. The history of currency in Jamaica should be considered in the wider picture of the currencies of the British West Indies. Jamaica was the only British West Indies territory to use special regional issues of the sterling copper coinage; the earliest money in Jamaica was Spanish copper coins called maravedíes. For nearly four hundred years Spanish dollars, known as pieces of eight were in widespread use on the world's trading routes, including the Caribbean Sea region. However, following the revolutionary wars in Latin America, the source of these silver trade coins dried up; the last Spanish dollar was minted at the Potosi mint in 1825. The United Kingdom had adopted the gold standard in 1821, so 1825 was an opportune time to introduce the British sterling coinage into all the British colonies.
An imperial order-in-council was passed in that year for the purposes of facilitating this aim by making sterling coinage legal tender in the colonies at the specified rate of $1 = 4s 4d. As the sterling silver coins were attached to a gold standard, this exchange rate did not realistically represent the value of the silver in the Spanish dollars compared to the value of the gold in the British gold sovereign; therefore the order-in-council had, in many colonies, the effect of driving sterling coinage out rather than encouraging its circulation. Remedial legislation had to be introduced in 1838 so as to change to the more realistic rate of $1 = 4s 2d. However, in Jamaica, British Honduras, in the Bahamas the official rating was set aside in favour of what was known as the'Maccaroni' tradition in which a British shilling, referred to as a'Maccaroni', was treated as one quarter of a dollar; the common link between these four territories was the Bank of Nova Scotia which brought in the'Maccaroni' tradition, resulting in the successful introduction of both sterling coinage and sterling accounts.
In 1834 silver coins of threepence and three halfpennies were introduced, valued at 1⁄2 real and 1⁄4 real. The three halfpenny came to be called "quartile" or "quatties". These, in particular, were used in church collections due to a feeling by the black population that copper coins were inappropriate for that purpose. Hence, they came to be called "Christian quatties". In 1839 an act was passed by Parliament declaring that as of December 31, 1840, only British coinage would be legal tender in Jamaica, demonetizing all of the Spanish coins, with the exception of the gold doubloon, valued at £3 4s. Coins in use were thus the farthing, penny, three halfpenny, sixpence, florin, half-crown, crown; the emancipation of the slaves in 1838 increased the need for coinage in Jamaica low denomination coins, but the blacks were still reluctant to use copper. The solution was to use cupronickel, adopted in 1869. Penny and halfpennies were minted for use in Jamaica, becoming the first Jamaican coins. Beginning in 1880, the farthing was minted in cupronickel.
In 1904, the Currency Notes Law was passed, “constituting a Board of Commissioners to issue notes called currency notes for the value of 10 shillings each,” although no such notes were issued at that time. This law was amended by Law 17 of 1918 which authorized “the issue of currency notes for such denominations as may be approved.” The Commissioners of Currency issued the first notes under these laws on 15 March 1920, in the denominations of 2 shillings 6 pence, 5 shillings, 10 shillings, with each note carrying the inscription that they were “Issued under the authority of Law 27 of 1904 & Law 17 of 1918.” Only these three smaller denominations were issued by the Board of Commissioners. In 1940, the government bank began producing £ £ 5 notes. In October 1960, the Bank of Jamaica was given the sole right to mint coins and produce banknotes in Jamaica, their notes were issued on May 1, 1961, in denominations of 5s, 10s, £1 and £5. On January 30, 1968, the Jamaican House of Representatives voted to decimalize the currency, introducing a new dollar worth 10s, divided into 100 cents.
At the time, coins of 1 cent, 5 cents, 10 cents, 20 cents and 25 cents were produced and banknotes of 50 cents, $1, $2, $10. These coins and banknotes went into circulation on September 8, 1969; the new Jamaican dollar differed from all the other dollars in the British West Indies in that it was a half-pound sterling.
The United Kingdom the United Kingdom of Great Britain and Northern Ireland, sometimes referred to as Britain, is a sovereign country located off the north-western coast of the European mainland. The United Kingdom includes the island of Great Britain, the north-eastern part of the island of Ireland, many smaller islands. Northern Ireland is the only part of the United Kingdom that shares a land border with another sovereign state, the Republic of Ireland. Apart from this land border, the United Kingdom is surrounded by the Atlantic Ocean, with the North Sea to the east, the English Channel to the south and the Celtic Sea to the south-west, giving it the 12th-longest coastline in the world; the Irish Sea lies between Great Ireland. With an area of 242,500 square kilometres, the United Kingdom is the 78th-largest sovereign state in the world, it is the 22nd-most populous country, with an estimated 66.0 million inhabitants in 2017. The UK is constitutional monarchy; the current monarch is Queen Elizabeth II, who has reigned since 1952, making her the longest-serving current head of state.
The United Kingdom's capital and largest city is London, a global city and financial centre with an urban area population of 10.3 million. Other major urban areas in the UK include Greater Manchester, the West Midlands and West Yorkshire conurbations, Greater Glasgow and the Liverpool Built-up Area; the United Kingdom consists of four constituent countries: England, Scotland and Northern Ireland. Their capitals are London, Edinburgh and Belfast, respectively. Apart from England, the countries have their own devolved governments, each with varying powers, but such power is delegated by the Parliament of the United Kingdom, which may enact laws unilaterally altering or abolishing devolution; the nearby Isle of Man, Bailiwick of Guernsey and Bailiwick of Jersey are not part of the UK, being Crown dependencies with the British Government responsible for defence and international representation. The medieval conquest and subsequent annexation of Wales by the Kingdom of England, followed by the union between England and Scotland in 1707 to form the Kingdom of Great Britain, the union in 1801 of Great Britain with the Kingdom of Ireland created the United Kingdom of Great Britain and Ireland.
Five-sixths of Ireland seceded from the UK in 1922, leaving the present formulation of the United Kingdom of Great Britain and Northern Ireland. There are fourteen British Overseas Territories, the remnants of the British Empire which, at its height in the 1920s, encompassed a quarter of the world's land mass and was the largest empire in history. British influence can be observed in the language and political systems of many of its former colonies; the United Kingdom is a developed country and has the world's fifth-largest economy by nominal GDP and ninth-largest economy by purchasing power parity. It has a high-income economy and has a high Human Development Index rating, ranking 14th in the world, it was the world's first industrialised country and the world's foremost power during the 19th and early 20th centuries. The UK remains a great power, with considerable economic, military and political influence internationally, it is sixth in military expenditure in the world. It has been a permanent member of the United Nations Security Council since its first session in 1946.
It has been a leading member state of the European Union and its predecessor, the European Economic Community, since 1973. The United Kingdom is a member of the Commonwealth of Nations, the Council of Europe, the G7, the G20, NATO, the Organisation for Economic Co-operation and Development and the World Trade Organization; the 1707 Acts of Union declared that the kingdoms of England and Scotland were "United into One Kingdom by the Name of Great Britain". The term "United Kingdom" has been used as a description for the former kingdom of Great Britain, although its official name from 1707 to 1800 was "Great Britain"; the Acts of Union 1800 united the kingdom of Great Britain and the kingdom of Ireland in 1801, forming the United Kingdom of Great Britain and Ireland. Following the partition of Ireland and the independence of the Irish Free State in 1922, which left Northern Ireland as the only part of the island of Ireland within the United Kingdom, the name was changed to the "United Kingdom of Great Britain and Northern Ireland".
Although the United Kingdom is a sovereign country, Scotland and Northern Ireland are widely referred to as countries. The UK Prime Minister's website has used the phrase "countries within a country" to describe the United Kingdom; some statistical summaries, such as those for the twelve NUTS 1 regions of the United Kingdom refer to Scotland and Northern Ireland as "regions". Northern Ireland is referred to as a "province". With regard to Northern Ireland, the descriptive name used "can be controversial, with the choice revealing one's political preferences"; the term "Great Britain" conventionally refers to the island of Great Britain, or politically to England and Wales in combination. However, it is sometimes used as a loose synonym for the United Kingdom as a whole; the term "Britain" is used both as a synonym for Great Britain, as a synonym for the United Kingdom. Usage is mixed, with the BBC preferring to use Britain as shorthand only for Great Britain and the UK Government, while accepting that both terms refer to the United K
The shilling is a unit of currency used in Austria, the United Kingdom, New Zealand, United States and other British Commonwealth countries. The shilling is used as a currency in four east African countries: Kenya, Tanzania and Somalia, it is the proposed currency that the east African community plans to introduce. The word shilling comes from old English "Scilling", a monetary term meaning twentieth of a pound, from the Proto-Germanic root skiljaną meaning'to separate, divide.' The word "Scilling" is mentioned in the earliest recorded Germanic law codes, those of Æthelberht of Kent. Slang terms for the old shilling coins include "bob" and "hog". While the derivation of "bob" is uncertain, John Camden Hotten in his 1864 Slang Dictionary says the original version was "bobstick" and speculates that it may be connected with Sir Robert Walpole. One abbreviation for shilling is s, it was represented by a solidus symbol, which may have stood for a long s or ſ, thus 1/9 would be one shilling and ninepence.
A price with no pence was sometimes written with a solidus and a dash: 11/–. The solidus symbol is still used for the Kenyan shilling, rather than sh. During the Great Recoinage of 1816, the mint was instructed to coin one troy pound of standard silver into 66 shillings, or its equivalent in other denominations; this set the weight of the shilling, its subsequent decimal replacement 5 new pence coin, at 87.2727 grains or 5.655 grams from 1816 until 1990, when a new smaller 5p coin was introduced. In the past, the English world has had various myths about the shilling. One myth was that it was deemed to be the value of a cow in a sheep elsewhere. A shilling was a coin used in England from the reign of Henry VII; the shilling continued in use after the Acts of Union of 1707 created a new United Kingdom from the Kingdoms of England and Scotland, under Article 16 of the Articles of Union, a common currency for the new United Kingdom was created. The term shilling was in use in Scotland from early medieval times.
The common currency created in 1707 by Article 16 of the Articles of Union continued in use until decimalisation in 1971. In the traditional pounds and pence system, there were 20 shillings per pound and 12 pence per shilling, thus there were 240 pence in a pound. Three coins denominated in multiple shillings were in circulation at this time, they were: two shillings, which adopted the value of 10 new pence at decimalisation. At decimalisation in 1971, the shilling coin was superseded by the new five-pence piece, of identical size and weight and had the same value, inherited the shilling's slang name of a bob. Shillings remained in circulation until the five pence coin was reduced in size in 1991. Between 1701 and the unification of the currencies in 1825, the Irish shilling was valued at 13 pence and known as the "black hog", as opposed to the 12-pence English shillings which were known as "white hogs". In the Irish Free State and Republic of Ireland the shilling coin was issued as scilling in Irish.
It was worth 1/20th of an Irish pound, was interchangeable at the same value to the British coin, which continued to be used in Northern Ireland. The coin featured a bull on the reverse side; the first minting, from 1928 until 1941, contained 75% silver, more than the equivalent British coin. The original Irish shilling coin ) was withdrawn from circulation on 1 January 1993, when a smaller five pence coin was introduced. Australian shillings, twenty of which made up one Australian pound, were first issued in 1910, with the Australian coat of arms on the reverse and King Edward VII on the face; the coat of arms design was retained through the reign of King George V until a new ram's head design was introduced for the coins of King George VI. This design continued until the last year of issue in 1963. In 1966, Australia's currency was decimalised and the shilling was replaced by a ten cent coin, where 10 shillings made up one Australian dollar; the slang term for a shilling coin in Australia was "deener".
The slang term for a shilling as currency unit was "bob", the same as in the United Kingdom. After 1966, shillings continued to circulate, as they were replaced by 10-cent coins of the same size and weight. New Zealand shillings, twenty of which made up one New Zealand pound, were first issued in 1933 and featured the image of a Maori warrior carrying a taiaha "in a warlike attitude" on the reverse. In 1967, New Zealand's currency was decimalised and the shilling was replaced by a ten cent coin of the same size and weight. Ten cent coins minted through the remainder of the 1960s included the legend "ONE SHILLING" on the reverse. Smaller 10-cent coins were introduced in 2006. Shillings were used in Malta, prior to decimalisation in 1972, had a face value of five Maltese cents. In British Ceylon, an shilling was equivalent to eight fanams. With the replacement of the rixdollar by the rupee in 1852, a shilling was deemed to be equivalent to half a rupee. On the decimalisation of the currency
Germany the Federal Republic of Germany, is a country in Central and Western Europe, lying between the Baltic and North Seas to the north, the Alps to the south. It borders Denmark to the north and the Czech Republic to the east and Switzerland to the south, France to the southwest, Luxembourg and the Netherlands to the west. Germany includes 16 constituent states, covers an area of 357,386 square kilometres, has a temperate seasonal climate. With 83 million inhabitants, it is the second most populous state of Europe after Russia, the most populous state lying in Europe, as well as the most populous member state of the European Union. Germany is a decentralized country, its capital and largest metropolis is Berlin, while Frankfurt serves as its financial capital and has the country's busiest airport. Germany's largest urban area is the Ruhr, with its main centres of Essen; the country's other major cities are Hamburg, Cologne, Stuttgart, Düsseldorf, Dresden, Bremen and Nuremberg. Various Germanic tribes have inhabited the northern parts of modern Germany since classical antiquity.
A region named Germania was documented before 100 AD. During the Migration Period, the Germanic tribes expanded southward. Beginning in the 10th century, German territories formed a central part of the Holy Roman Empire. During the 16th century, northern German regions became the centre of the Protestant Reformation. After the collapse of the Holy Roman Empire, the German Confederation was formed in 1815; the German revolutions of 1848–49 resulted in the Frankfurt Parliament establishing major democratic rights. In 1871, Germany became a nation state when most of the German states unified into the Prussian-dominated German Empire. After World War I and the revolution of 1918–19, the Empire was replaced by the parliamentary Weimar Republic; the Nazi seizure of power in 1933 led to the establishment of a dictatorship, the annexation of Austria, World War II, the Holocaust. After the end of World War II in Europe and a period of Allied occupation, Austria was re-established as an independent country and two new German states were founded: West Germany, formed from the American and French occupation zones, East Germany, formed from the Soviet occupation zone.
Following the Revolutions of 1989 that ended communist rule in Central and Eastern Europe, the country was reunified on 3 October 1990. Today, the sovereign state of Germany is a federal parliamentary republic led by a chancellor, it is a great power with a strong economy. As a global leader in several industrial and technological sectors, it is both the world's third-largest exporter and importer of goods; as a developed country with a high standard of living, it upholds a social security and universal health care system, environmental protection, a tuition-free university education. The Federal Republic of Germany was a founding member of the European Economic Community in 1957 and the European Union in 1993, it is part of the Schengen Area and became a co-founder of the Eurozone in 1999. Germany is a member of the United Nations, NATO, the G7, the G20, the OECD. Known for its rich cultural history, Germany has been continuously the home of influential and successful artists, musicians, film people, entrepreneurs, scientists and inventors.
Germany has a large number of World Heritage sites and is among the top tourism destinations in the world. The English word Germany derives from the Latin Germania, which came into use after Julius Caesar adopted it for the peoples east of the Rhine; the German term Deutschland diutisciu land is derived from deutsch, descended from Old High German diutisc "popular" used to distinguish the language of the common people from Latin and its Romance descendants. This in turn descends from Proto-Germanic *þiudiskaz "popular", derived from *þeudō, descended from Proto-Indo-European *tewtéh₂- "people", from which the word Teutons originates; the discovery of the Mauer 1 mandible shows that ancient humans were present in Germany at least 600,000 years ago. The oldest complete hunting weapons found anywhere in the world were discovered in a coal mine in Schöningen between 1994 and 1998 where eight 380,000-year-old wooden javelins of 1.82 to 2.25 m length were unearthed. The Neander Valley was the location where the first non-modern human fossil was discovered.
The Neanderthal 1 fossils are known to be 40,000 years old. Evidence of modern humans dated, has been found in caves in the Swabian Jura near Ulm; the finds included 42,000-year-old bird bone and mammoth ivory flutes which are the oldest musical instruments found, the 40,000-year-old Ice Age Lion Man, the oldest uncontested figurative art discovered, the 35,000-year-old Venus of Hohle Fels, the oldest uncontested human figurative art discovered. The Nebra sky disk is a bronze artefact created during the European Bronze Age attributed to a site near Nebra, Saxony-Anhalt, it is part of UNESCO's Memory of the World Programme. The Germanic tribes are thought to date from the Pre-Roman Iron Age. From southern Scandinavia and north Germany, they expanded south and west from the 1st century BC, coming into contact with the Celtic tribes of Gaul as well
The pound sterling known as the pound and less referred to as sterling, is the official currency of the United Kingdom, Guernsey, the Isle of Man, South Georgia and the South Sandwich Islands, the British Antarctic Territory, Tristan da Cunha. It is subdivided into 100 pence. A number of nations that do not use sterling have currencies called the pound. Sterling is the third most-traded currency in the foreign exchange market, after the United States dollar, the euro. Together with those two currencies and the Chinese yuan, it forms the basket of currencies which calculate the value of IMF special drawing rights. Sterling is the third most-held reserve currency in global reserves; the British Crown dependencies of Guernsey and the Isle of Man produce their own local issues of sterling which are considered equivalent to UK sterling in their respective regions. The pound sterling is used in Gibraltar, the Falkland Islands, Saint Helena and Ascension Island in Saint Helena and Tristan da Cunha; the Bank of England is the central bank for the pound sterling, issuing its own coins and banknotes, regulating issuance of banknotes by private banks in Scotland and Northern Ireland.
Banknotes issued by other jurisdictions are not regulated by the Bank of England. The full official name pound sterling, is used in formal contexts and when it is necessary to distinguish the United Kingdom currency from other currencies with the same name. Otherwise the term pound is used; the currency name is sometimes abbreviated to just sterling in the wholesale financial markets, but not when referring to specific amounts. The abbreviations "ster." and "stg." are sometimes used. The term "British pound" is sometimes incorrectly used in less formal contexts, it is not an official name of the currency; the exchange rate of the pound sterling against the US dollar is referred to as "cable" in the wholesale foreign exchange markets. The origins of this term are attributed to the fact that in the 1800s, the GBP/USD exchange rate was transmitted via transatlantic cable. Forex traders of GBP/USD are sometimes referred to as "cable dealers". GBP/USD is now the only currency pair with its own name in the foreign exchange markets, after IEP/USD, known as "wire" in the forward FX markets, no longer exists after the Irish Pound was replaced by the euro in 1999.
There is apparent convergence of opinion regarding the origin of the term "pound sterling", toward its derivation from the name of a small Norman silver coin, away from its association with Easterlings or other etymologies. Hence, the Oxford English Dictionary state that the "most plausible" etymology is derivation from the Old English steorra for "star" with the added diminutive suffix "-ling", to mean "little star" and to refer to a silver penny of the English Normans; as another established source notes, the compound expression was derived: However, the perceived narrow window of the issuance of this coin, the fact that coin designs changed in the period in question, led Philip Grierson to reject this in favour of a more complex theory. Another argument that the Hanseatic League was the origin for both the origin of its definition and manufacture, in its name is that the German name for the Baltic is "Ost See", or "East Sea", from this the Baltic merchants were called "Osterlings", or "Easterlings".
In 1260, Henry III granted them a charter of protection and land for their Kontor, the Steelyard of London, which by the 1340s was called "Easterlings Hall", or Esterlingeshalle. Because the League's money was not debased like that of England, English traders stipulated to be paid in pounds of the "Easterlings", contracted to "'sterling". For further discussion of the etymology of "sterling", see sterling silver; the currency sign for the pound is £, written with a single cross-bar, though a version with a double cross-bar is sometimes seen. This symbol derives from medieval Latin documents; the ISO 4217 currency code is GBP, formed from "GB", the ISO 3166-1 alpha-2 code for the United Kingdom, the first letter of "pound". It does not stand for "Great Britain Pound" or "Great British Pound"; the abbreviation "UKP" is used but this is non-standard because the ISO 3166 country code for the United Kingdom is GB. The Crown dependencies use their own codes: GGP, JEP and IMP. Stocks are traded in pence, so traders may refer to pence sterling, GBX, when listing stock prices.
A common slang term for the pound sterling or pound is quid, singular and plural, except in the common phrase "quids in!". The term may have come via Italian immigrants from "scudo", the name for a number of coins used in Italy until the 19th century.