How the conversion works
Before 15 February 1971 a pound was divided into 20 shillings, and each shilling into 12 pence, so there were 240 old pence in a pound. Decimalisation kept the pound but split it into 100 new pence. To convert, the converter turns your amount into old pence and then multiplies by 100/240.
That gives some tidy results and some untidy ones. A shilling is exactly 5p and sixpence is exactly 2½p, but a single old penny is 5/12 of a new penny: about 0.42p. That is why the converter shows the exact value as well as a rounded one.
Quick reference
| Old money | In old pence | Exact decimal | Rounded |
|---|---|---|---|
| 1d | 1d | 0.4167p | £0.00 |
| 6d | 6d | 2.5p | £0.03 |
| 1s | 12d | 5p | £0.05 |
| 2s 6d (half a crown) | 30d | 12.5p | £0.12 |
| 10s | 120d | 50p | £0.50 |
| £1 1s (a guinea) | 252d | 105p | £1.05 |
| £3 6s 8d | 800d | 333.3333p | £3.33 |
| 19s 11d | 239d | 99.5833p | £1.00 |
Reading amounts in old documents
You'll see old money written in several ways. £3 6s 8d is the formal style, while accounts often used dots or dashes: £3.6.8 or £3-6-8. Amounts under a pound were usually written with a slash, so 7/6 means seven shillings and sixpence and 12/- means twelve shillings exactly. The “d” comes from denarius, the Latin for penny, and “s” from solidus.
If a total in a ledger has more than 19 shillings or 11 pence (it happens in rough working), just type it in as written. The converter tidies it into the proper form.
Common questions
How much is a shilling in today's money?
A shilling is exactly 5p in decimal money, because there were 20 shillings in a pound and 100 ÷ 20 = 5.
How much was an old penny worth in new pence?
One old penny is 5/12 of a new penny, about 0.42p. There were 240 old pence in a pound and 100 new pence.
What does 'd' mean in old money?
The d stands for denarius, a Roman silver coin. Pounds, shillings and pence were abbreviated £, s and d from the Latin librae, solidi and denarii.
Does this tell me what the money would buy today?
No: this converts the face value. To adjust for inflation, use the worth today calculator, which uses official price data back to 1800.