Shilling UK (Great Britain) Europe Coins: World Coins & Paper Money
In the United Kingdom, a shilling was a coin used from the reign of Henry VII until decimalization in 1971. Before decimalization, there were twenty shillings to the pound and twelve pence to each shilling, and therefore 240 pence to the pound. Two coins multiple shilling coins were also in circulation at this time. They were the florin, which adopted the value of ten new pence (10p), and the crown, the highest denominated non-bullion United Kingdom coin in circulation at decimalization.
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The word shilling comes from schilling, an accounting term that dates back to Anglo-Saxon times. It was considered the value of a cow in Kent or a sheep elsewhere. In North America, colonial shillings, such as the 1652 pine-tree shilling, were made in Massachusetts when the Puritans settled in America. Upon decimalization, the shilling was replaced by the new five pence piece, which started out as being identical size and weight and with the same value. It even inherited the shilling's slang name of a bob.
In the Republic of Ireland, the shilling was minted as scilling. It retained the original 12d value until 1969. After 1971, like the United Kingdom, the general public often used a shilling as a five pence coin. In 1992, the Central Bank of Ireland minted a smaller five pence piece, and the shilling was withdrawn from circulation. Australia also minted its own shillings, which were 1/20 of an Australian pound. In 1966 Australia decimalized, and the schilling was replaced with a 10 cent coin.
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