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Pound (currency) - Wikipedia

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Unit of currency

Countries where a unit of the national currency is "pound" (dark blue) or "lira" (light blue).

Pound is a name of various units of currency. It is used in some countries today and previously was used in many others. The English word "pound" derives from the Latin expression lībra pondō, "a pound by weight", in which lībra means 'scale' or 'balance' and pondō means 'pound' or 'weight'.[1][2] The currency's symbol is '£', a stylised form of the blackletter 'L' ( L {\displaystyle {\mathfrak {L}}} ) (from libra), crossed to indicate abbreviation.[3]

The term was adopted in England from the weight[a] of silver used to make 240 pennies,[6] and eventually spread to British colonies all over the world. Although silver penny mintage began seven centuries earlier, the first pound coin was minted under Henry VII in 1489.[5]

Countries and territories currently using currency units named "pound"[edit] Historical currencies[edit] Currencies of the former British colonies in America[edit]

All of the following currencies have been replaced by the US dollar.

  1. ^ The Pound (mass) in question was a Tower pound (5,400 grains, 349.9 grams (11.25 troy ounces), about 0.77 avoirdupois pounds, also called the 'Moneyers' Pound' (referring to the Saxon moneyers before the Conquest).[4] "In practice they" [the silver pennies] "varied considerably in weight and 240 of them seldom added up to a pound".[5]
  2. ^ The correct name for the currency is "sterling" and the "pound" is its primary unit. When necessary to distinguish sterling from other pounds, the qualified names "pound sterling" or "British pound" are used, especially in international trade contexts, where those names are used even when disambiguation is not needed.[7] This qualified form is almost never encountered in the United Kingdom, except in banking.

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