Shilling
Encyclopedia
Currency
In economics, currency refers to a generally accepted medium of exchange. These are usually the coins and banknotes of a particular government, which comprise the physical aspects of a nation's money supply...
used in some current and former British Commonwealth
Commonwealth of Nations
The Commonwealth of Nations, normally referred to as the Commonwealth and formerly known as the British Commonwealth, is an intergovernmental organisation of fifty-four independent member states...
countries. The word shilling comes from scilling, an accounting term that dates back to Anglo-Saxon
Anglo-Saxons
Anglo-Saxon is a term used by historians to designate the Germanic tribes who invaded and settled the south and east of Great Britain beginning in the early 5th century AD, and the period from their creation of the English nation to the Norman conquest. The Anglo-Saxon Era denotes the period of...
times where it was deemed to be the value of a cow in Kent or a sheep elsewhere. The word is thought to derive from the base skell-, "to ring/resound" and the diminutive
Diminutive
In language structure, a diminutive, or diminutive form , is a formation of a word used to convey a slight degree of the root meaning, smallness of the object or quality named, encapsulation, intimacy, or endearment...
suffix
Suffix
In linguistics, a suffix is an affix which is placed after the stem of a word. Common examples are case endings, which indicate the grammatical case of nouns or adjectives, and verb endings, which form the conjugation of verbs...
-ing. The slang term for a shilling as a currency unit was a "bob".
The abbreviation for shilling is s, from the Latin
Latin
Latin is an Italic language originally spoken in Latium and Ancient Rome. It, along with most European languages, is a descendant of the ancient Proto-Indo-European language. Although it is considered a dead language, a number of scholars and members of the Christian clergy speak it fluently, and...
solidus
Solidus (coin)
The solidus was originally a gold coin issued by the Romans, and a weight measure for gold more generally, corresponding to 4.5 grams.-Roman and Byzantine coinage:...
, the name of a Roman
Roman currency
The Roman currency during most of the Roman Republic and the western half of the Roman Empire consisted of coins including the aureus , the denarius , the sestertius , the dupondius , and the as...
coin
Coin
A coin is a piece of hard material that is standardized in weight, is produced in large quantities in order to facilitate trade, and primarily can be used as a legal tender token for commerce in the designated country, region, or territory....
. Often it was informally represented by a slash
Slash (punctuation)
The slash is a sign used as a punctuation mark and for various other purposes. It is now often called a forward slash , and many other alternative names.-History:...
, standing for a long s
Long s
The long, medial or descending s is a form of the minuscule letter s formerly used where s occurred in the middle or at the beginning of a word, for example "ſinfulneſs" . The modern letterform was called the terminal, round, or short s.-History:The long s is derived from the old Roman cursive...
: e.g., "1/6d
Penny (British pre-decimal coin)
The penny of the Kingdom of Great Britain and later of the United Kingdom, was in circulation from the early 18th century until February 1971, Decimal Day....
" would be 1 shilling and sixpence, or 18d. (often pronounced "one and six"); a price with no pence would be written with a slash and a dash, e.g., "11/–". Quite often a triangle or (serif
Serif
In typography, serifs are semi-structural details on the ends of some of the strokes that make up letters and symbols. A typeface with serifs is called a serif typeface . A typeface without serifs is called sans serif or sans-serif, from the French sans, meaning “without”...
) apostrophe
Apostrophe
The apostrophe is a punctuation mark, and sometimes a diacritic mark, in languages that use the Latin alphabet or certain other alphabets...
would be used to give a neater appearance, e.g., "1'6" and "11'-". In Africa
Africa
Africa is the world's second largest and second most populous continent, after Asia. At about 30.2 million km² including adjacent islands, it covers 6% of the Earth's total surface area and 20.4% of the total land area...
it is often abbreviated sh.
During the Great Recoinage of 1816
Great Recoinage of 1816
The Great Recoinage of 1816 was an attempt by the British Government to re-stabilise the currency of Great Britain following economic difficulties precipitated by the French Revolutionary Wars and the Napoleonic Wars.-History:...
, the mint was instructed to coin one troy pound (weighing 5760 grains) of standard (0.925 fine) silver
Sterling silver
Sterling silver is an alloy of silver containing 92.5% by mass of silver and 7.5% by mass of other metals, usually copper. The sterling silver standard has a minimum millesimal fineness of 925....
into 66 shillings, or its equivalent in other denominations. This effectively set the weight of the shilling, and its subsequent decimal replacement 5 new pence coin, at 87.2727 grains or 5.655 grams from 1816 to 1990, when a new smaller 5p coin was introduced.
Kingdom of England
In England, a shilling was a coin used from the reign of Henry VIIHenry VII of England
Henry VII was King of England and Lord of Ireland from his seizing the crown on 22 August 1485 until his death on 21 April 1509, as the first monarch of the House of Tudor....
(or Edward VI
Edward VI of England
Edward VI was the King of England and Ireland from 28 January 1547 until his death. He was crowned on 20 February at the age of nine. The son of Henry VIII and Jane Seymour, Edward was the third monarch of the Tudor dynasty and England's first monarch who was raised as a Protestant...
ca 1550) until the Acts of Union ended the Kingdom of England (when, in the terms of Article 16 of the Articles of Union created by the Acts of Union of 1707
Treaty of Union
The Treaty of Union is the name given to the agreement that led to the creation of the united kingdom of Great Britain, the political union of the Kingdom of England and the Kingdom of Scotland, which took effect on 1 May 1707...
, a common currency for the new United Kingdom was created).
Kingdom of Scotland
The term schilling or shilling was in use in Scotland from early mediaeval times.Great Britain and the United Kingdom
The common currency created in 1707 by Article 16 of the Articles of UnionTreaty of Union
The Treaty of Union is the name given to the agreement that led to the creation of the united kingdom of Great Britain, the political union of the Kingdom of England and the Kingdom of Scotland, which took effect on 1 May 1707...
continued in use until decimalisation in 1971.
Before decimalisation, there were 20 shillings per pound and 12 pence
Penny (British pre-decimal coin)
The penny of the Kingdom of Great Britain and later of the United Kingdom, was in circulation from the early 18th century until February 1971, Decimal Day....
per shilling, and thus there were 240 pence in a pound. Three coins denominated in multiple shillings were also in circulation at this time. They were:
- the florin, which adopted the value of 10 new pence (10p);
- the half-crown (two shillings and sixpence (2/6d) or one-eighth of a pound, which was abolished at decimalisation;
- the crown (five shillings), the highest denominated non-bullion UK coin in circulation at decimalisation (in practice, crowns were commemorative coins not used in everyday transactions).
At decimalisation, the shilling coin was superseded by the new five-pence piece
British Five Pence coin
The British decimal five pence coin – often pronounced "five pee" – is a subdivision of pound sterling first issued on 23 April 1968 in preparation for the 1971 decimalisation of the currency. At that time it had the same value, size and weight as the existing shilling, and it may be...
, which initially was of identical size and weight and had the same value, and inherited the shilling's slang name of a bob.
Irish shillings
In IrelandRepublic of Ireland
Ireland , described as the Republic of Ireland , is a sovereign state in Europe occupying approximately five-sixths of the island of the same name. Its capital is Dublin. Ireland, which had a population of 4.58 million in 2011, is a constitutional republic governed as a parliamentary democracy,...
, the shilling was issued as scilling in Irish
Irish language
Irish , also known as Irish Gaelic, is a Goidelic language of the Indo-European language family, originating in Ireland and historically spoken by the Irish people. Irish is now spoken as a first language by a minority of Irish people, as well as being a second language of a larger proportion of...
and was worth one 20th of an Irish pound
Irish pound
The Irish pound was the currency of Ireland until 2002. Its ISO 4217 code was IEP, and the usual notation was the prefix £...
. The coin featured the bull on the obverse side. The first minting from 1928 until 1941 contained 75% silver, more than the equivalent British coin. The Irish shilling was finally withdrawn from circulation on January 1, 1993, as a smaller five-pence coin was introduced.
Australian shillings
AustraliaAustralia
Australia , officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands in the Indian and Pacific Oceans. It is the world's sixth-largest country by total area...
n shillings, twenty of which made up one Australian pound
Australian pound
The pound was the currency of Australia from 1910 until 13 February 1966, when it was replaced by the Australian dollar. It was subdivided into 20 shillings, each of 12 pence.- Earlier Australian currencies :...
, were first issued in 1910, with the Australian coat of arms
Coat of arms
A coat of arms is a unique heraldic design on a shield or escutcheon or on a surcoat or tabard used to cover and protect armour and to identify the wearer. Thus the term is often stated as "coat-armour", because it was anciently displayed on the front of a coat of cloth...
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
Decimalisation
Decimal currency is the term used to describe any currency that is based on one basic unit of currency and a sub-unit which is a power of 10, most commonly 100....
and the shilling was replaced by a ten cent coin (Australian), where 10 shillings made up one Australian dollar
Australian dollar
The Australian dollar is the currency of the Commonwealth of Australia, including Christmas Island, Cocos Islands, and Norfolk Island, as well as the independent Pacific Island states of Kiribati, Nauru and Tuvalu...
.
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
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
.
After 1966, shillings continued to circulate, as they were replaced by 10-cent coins of the same size and weight.
New Zealand shilling
New ZealandNew Zealand
New Zealand is an island country in the south-western Pacific Ocean comprising two main landmasses and numerous smaller islands. The country is situated some east of Australia across the Tasman Sea, and roughly south of the Pacific island nations of New Caledonia, Fiji, and Tonga...
shillings, twenty of which made up one New Zealand pound
New Zealand pound
The pound was the currency of New Zealand between 1840 and 1967. Like the British pound, it was subdivided into 20 shillings each of 12 pence. As a result of the great depression of the early 1930s, the New Zealand agricultural export market to the UK was badly affected...
, 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
Decimalisation
Decimal currency is the term used to describe any currency that is based on one basic unit of currency and a sub-unit which is a power of 10, most commonly 100....
and the shilling was replaced by a ten cent coin of the same size and weight. Smaller 10-cent coins were introduced in 2006.
East African shillings
The East African shillingEast African shilling
The shilling was the currency issued for use in British controlled areas in East Africa from 1921 until 1969. It was produced by the East African Currency Board...
was in use in the British colonies
Colony
In politics and history, a colony is a territory under the immediate political control of a state. For colonies in antiquity, city-states would often found their own colonies. Some colonies were historically countries, while others were territories without definite statehood from their inception....
and protectorate
Protectorate
In history, the term protectorate has two different meanings. In its earliest inception, which has been adopted by modern international law, it is an autonomous territory that is protected diplomatically or militarily against third parties by a stronger state or entity...
s of British Somaliland
British Somaliland
British Somaliland was a British protectorate in the northern part of present-day Somalia. For much of its existence, British Somaliland was bordered by French Somaliland, Ethiopia, and Italian Somaliland. From 1940 to 1941, it was occupied by the Italians and was part of Italian East Africa...
, Kenya
Kenya
Kenya , officially known as the Republic of Kenya, is a country in East Africa that lies on the equator, with the Indian Ocean to its south-east...
, Tanganyika
Tanganyika
Tanganyika , later formally the Republic of Tanganyika, was a sovereign state in East Africa from 1961 to 1964. It was situated between the Indian Ocean and the African Great Lakes of Lake Victoria, Lake Malawi and Lake Tanganyika...
, Uganda
Uganda
Uganda , officially the Republic of Uganda, is a landlocked country in East Africa. Uganda is also known as the "Pearl of Africa". It is bordered on the east by Kenya, on the north by South Sudan, on the west by the Democratic Republic of the Congo, on the southwest by Rwanda, and on the south by...
and Zanzibar
Zanzibar
Zanzibar ,Persian: زنگبار, from suffix bār: "coast" and Zangi: "bruin" ; is a semi-autonomous part of Tanzania, in East Africa. It comprises the Zanzibar Archipelago in the Indian Ocean, off the coast of the mainland, and consists of numerous small islands and two large ones: Unguja , and Pemba...
from 1920, when it replaced the rupee
Rupee
The rupee is the common name for the monetary unit of account in India, Sri Lanka, Nepal, Pakistan, Mauritius, Seychelles, Maldives, and formerly in Burma, and Afghanistan. Historically, the first currency called "rupee" was introduced in the 16th century...
, until after those countries became independent, and in Tanzania
Tanzania
The United Republic of Tanzania is a country in East Africa bordered by Kenya and Uganda to the north, Rwanda, Burundi, and the Democratic Republic of the Congo to the west, and Zambia, Malawi, and Mozambique to the south. The country's eastern borders lie on the Indian Ocean.Tanzania is a state...
after that country was formed by the merger of Tanganyika and Zanzibar in 1964. Upon independence in 1960, the East African shilling in the State of Somaliland
State of Somaliland
The State of Somaliland was a short-lived independent state in the territory of modern-day Somalia.-History:In May 1960, the British Government stated that it would be prepared to grant independence to the then protectorate of British Somaliland, with the intention that the territory would unite...
(former British Somaliland) and the Somali somalo in the Trust Territory of Somalia
Trust Territory of Somalia
The Trust Territory of Somalia was a United Nations Trust Territory that was administered by Italy from 1949 to 1960, following the dissolution of the former Italian Somaliland inside the territory of modern-day Somalia.-History:In 1941, Italian Somaliland was occupied by British and South African...
(former Italian Somaliland
Italian Somaliland
Italian Somaliland , also known as Italian Somalia, was a colony of the Kingdom of Italy from the 1880s until 1936 in the region of modern-day Somalia. Ruled in the 19th century by the Somali Sultanate of Hobyo and the Majeerteen Sultanate, the territory was later acquired by Italy through various...
) were replaced by the Somali shilling
Somali shilling
The Somali shilling is the official currency of Somalia...
.
In 1966, the East African Monetary Union broke up, and the member countries replaced their currencies with the Kenyan shilling
Kenyan shilling
The shilling is the currency of Kenya. It is divisible into 100 cents.-Coins:The first coins were issued in 1966 in denominations of 5, 10, 25 and 50 cents, and 1 and 2 shillings. Twenty-five cents coins were not minted after 1969; 2 shillings coins were last minted in 1971...
, the Ugandan shilling
Ugandan shilling
The Shilling is the currency of Uganda. Technically, the shilling is subdivided into 100 cents but no subdivisions have been issued since the revaluation of the shilling in 1987.-History:...
and the Tanzanian shilling
Tanzanian shilling
The shilingi is the currency of Tanzania, although widespread use of U.S. dollars is accepted. It is subdivided into 100 senti .The Tanzanian shilling replaced the East African shilling in 1966 at par....
respectively. Though all these currencies have different values at present, there were plans to reintroduce the East African shilling
East African shilling
The shilling was the currency issued for use in British controlled areas in East Africa from 1921 until 1969. It was produced by the East African Currency Board...
as a new common currency by 2009, although this has not come about.
Overview
The Somali shilling is the official currencyCurrency
In economics, currency refers to a generally accepted medium of exchange. These are usually the coins and banknotes of a particular government, which comprise the physical aspects of a nation's money supply...
of Somalia
Somalia
Somalia , officially the Somali Republic and formerly known as the Somali Democratic Republic under Socialist rule, is a country located in the Horn of Africa. Since the outbreak of the Somali Civil War in 1991 there has been no central government control over most of the country's territory...
. It is subdivided into 100 cents (English), senti (Somali, also سنت) or centesimi (Italian).
The Somali shilling has been the currency of parts of Somalia since 1921, when the East African shilling
East African shilling
The shilling was the currency issued for use in British controlled areas in East Africa from 1921 until 1969. It was produced by the East African Currency Board...
was introduced to the former British Somaliland
British Somaliland
British Somaliland was a British protectorate in the northern part of present-day Somalia. For much of its existence, British Somaliland was bordered by French Somaliland, Ethiopia, and Italian Somaliland. From 1940 to 1941, it was occupied by the Italians and was part of Italian East Africa...
protectorate
Protectorate
In history, the term protectorate has two different meanings. In its earliest inception, which has been adopted by modern international law, it is an autonomous territory that is protected diplomatically or militarily against third parties by a stronger state or entity...
. Following independence in 1960, the somalo of Italian Somaliland
Italian Somaliland
Italian Somaliland , also known as Italian Somalia, was a colony of the Kingdom of Italy from the 1880s until 1936 in the region of modern-day Somalia. Ruled in the 19th century by the Somali Sultanate of Hobyo and the Majeerteen Sultanate, the territory was later acquired by Italy through various...
and the East African shilling (which were equal in value) were replaced at par in 1962 by the Somali shilling. Names used for the denominations were cent, centesimo (plural: centesimi) and سنت (plurals: سنتيمات and سنتيما) together with shilling, scellino (plural: scellini) and شلن.
That same year, the Banca Nazionale Somala issued notes for 5, 10, 20 and 100 scellini/shillings. In 1975, the Bankiga Qaranka Soomaaliyeed (Somali National Bank) introduced notes for 5, 10, 20 and 100 shilin/shillings. These were followed in 1978 by notes of the same denominations issued by the Bankiga Dhexe Ee Soomaaliya (Central Bank of Somalia
Central Bank of Somalia
The Central Bank of Somalia is the monetary authority of Somalia. Among other duties, it is in charge of ensuring financial stability, maintaining the internal and external value of the local currency, and promoting credit and exchange conditions that facilitate the balanced growth of the...
). 50 shilin/shillings notes were introduced in 1983, followed by 500 shilin/shillings in 1989 and 1000 shilin/shillings in 1990. Also in 1990 there was an attempt to reform the currency at 100 to 1, with new banknotes of 20 and 50 new shilin prepared for the redenomination.
Following the breakdown in central authority that accompanied the civil war
Somali Civil War
The Somali Civil War is an ongoing civil war taking place in Somalia. The conflict, which began in 1991, has caused destabilisation throughout the country, with the current phase of the conflict seeing the Somali government losing substantial control of the state to rebel forces...
, which began in the early 1990s, the value of the Somali shilling was disrupted. The Central Bank of Somalia, the nation's monetary authority, also shut down operations. Rival producers of the local currency, including autonomous regional entities such as the Somaliland
Somaliland
Somaliland is an unrecognised self-declared sovereign state that is internationally recognised as an autonomous region of Somalia. The government of Somaliland regards itself as the successor state to the British Somaliland protectorate, which was independent for a few days in 1960 as the State of...
territory, subsequently emerged.
Somalia's newly-established Transitional Federal Government
Transitional Federal Government
The Transitional Federal Government is the current internationally recognized government of the Republic of Somalia. It was established as one of the Transitional Federal Institutions of government as defined in the Transitional Federal Charter adopted in November 2004 by the Transitional...
revived the defunct Central Bank of Somalia in the late 2000s. In terms of financial management, the monetary authority is in the process of assuming the task of both formulating and implementing monetary policy. Owing to a lack of confidence in the Somali shilling, the US dollar is widely accepted as a medium of exchange alongside the Somali shilling. Dollarization
Dollarization
Dollarization occurs when the inhabitants of a country use foreign currency in parallel to or instead of the domestic currency. The term is not only applied to usage of the United States dollar, but generally to the use of any foreign currency as the national currency.The biggest economies to have...
notwithstanding, the large issuance of the Somali shilling has increasingly fueled price hikes, especially for low value transactions. This inflationary environment, however, is expected to come to an end as soon as the Central Bank assumes full control of monetary policy and replaces the presently circulating currency introduced by the private sector.
Somaliland shilling
The Somaliland shillingSomaliland shilling
The Somaliland shilling is the official currency of Somaliland, a de facto independent republic which is recognized as a part of Somalia. It was introduced on 18 October 1994 at one new Somaliland shilling to 100 Somali shillings...
is the official currency of Somaliland
Somaliland
Somaliland is an unrecognised self-declared sovereign state that is internationally recognised as an autonomous region of Somalia. The government of Somaliland regards itself as the successor state to the British Somaliland protectorate, which was independent for a few days in 1960 as the State of...
, a self-declared republic that is internationally recognized as an autonomous region of Somalia
Somalia
Somalia , officially the Somali Republic and formerly known as the Somali Democratic Republic under Socialist rule, is a country located in the Horn of Africa. Since the outbreak of the Somali Civil War in 1991 there has been no central government control over most of the country's territory...
. The currency is not recognized as legal tender
Legal tender
Legal tender is a medium of payment allowed by law or recognized by a legal system to be valid for meeting a financial obligation. Paper currency is a common form of legal tender in many countries....
by the international community, and it currently has no official exchange rate
Exchange rate
In finance, an exchange rate between two currencies is the rate at which one currency will be exchanged for another. It is also regarded as the value of one country’s currency in terms of another currency...
. It is regulated by the Bank of Somaliland
Bank of Somaliland
The Bank of Somaliland was established in 1994. It acts as both a central bank and a commercial bank for Somaliland, a de facto independent republic which is recognized as a part of Somalia. The monetary authority was provided for in the constitution of Somaliland...
, the territory's central bank
Central bank
A central bank, reserve bank, or monetary authority is a public institution that usually issues the currency, regulates the money supply, and controls the interest rates in a country. Central banks often also oversee the commercial banking system of their respective countries...
. Although the authorities in Somaliland have attempted to bar usage of the Somali shilling, Somalia's official currency is still the preferred means of exchange for many peoples in the region.
Austrian shilling
The Austrian schillingAustrian schilling
The schilling was the currency of Austria from 1924 to 1938 and from 1945 to 1999, and the circulating currency until 2002. The euro was introduced at a fixed parity of €1 = 13.7603 schilling to replace it...
was the currency of Austria between 1924 and 1938 and again between 1945 and 2002. It was replaced by the euro
Euro
The euro is the official currency of the eurozone: 17 of the 27 member states of the European Union. It is also the currency used by the Institutions of the European Union. The eurozone consists of Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg,...
at a fixed parity of €1 = 13.7603 Schilling. The Schilling was divided into 100 Groschen.
Other countries' shillings
Scandinavian Monetary Union
The Scandinavian Monetary Union was a monetary union formed by Sweden and Denmark on May 5, 1873, by fixing their currencies against gold at par to each other...
of 1873, and in the city of Hamburg
Hamburg
-History:The first historic name for the city was, according to Claudius Ptolemy's reports, Treva.But the city takes its modern name, Hamburg, from the first permanent building on the site, a castle whose construction was ordered by the Emperor Charlemagne in AD 808...
, Germany.
The sol (later the sou), both also derived from the Roman solidus
Solidus (coin)
The solidus was originally a gold coin issued by the Romans, and a weight measure for gold more generally, corresponding to 4.5 grams.-Roman and Byzantine coinage:...
, were the equivalent coins in France
France
The French Republic , The French Republic , The French Republic , (commonly known as France , is a unitary semi-presidential republic in Western Europe with several overseas territories and islands located on other continents and in the Indian, Pacific, and Atlantic oceans. Metropolitan France...
, while the (nuevo) sol
Peruvian nuevo sol
The nuevo sol plural: nuevos soles; currency sign: S/.) is the currency of Peru. It is subdivided into 100 cents, called céntimos in Spanish. The ISO 4217 currency code is PEN. It is most commonly referred to just as sol...
(PEN) remains the currency of Peru
Peru
Peru , officially the Republic of Peru , is a country in western South America. It is bordered on the north by Ecuador and Colombia, on the east by Brazil, on the southeast by Bolivia, on the south by Chile, and on the west by the Pacific Ocean....
. As in France, the Peruvian sol was originally named after the Roman solidus, but the name of the Peruvian currency is now much more closely linked to the Spanish word for the sun (sol). This helps explain the name of its temporary replacement, the inti
Peruvian inti
The inti was the currency of Peru between 1985 and 1991. Its ISO 4217 code was PEI and its abbreviation in local use was "I/." The inti was divided into 100 céntimos. The inti replaced the inflation-stricken sol. The new currency was named after Inti, the Inca sun god.-History:The inti was...
, named for the Incan sun god.
Shillings were used in Malta
Malta
Malta , officially known as the Republic of Malta , is a Southern European country consisting of an archipelago situated in the centre of the Mediterranean, south of Sicily, east of Tunisia and north of Libya, with Gibraltar to the west and Alexandria to the east.Malta covers just over in...
, prior to decimalisation
Decimalisation
Decimal currency is the term used to describe any currency that is based on one basic unit of currency and a sub-unit which is a power of 10, most commonly 100....
in 1972, and had a face value of five Maltese cents
Cent (currency)
In many national currencies, the cent is a monetary unit that equals 1⁄100 of the basic monetary unit. Etymologically, the word cent derives from the Latin word "centum" meaning hundred. Cent also refers to a coin which is worth one cent....
.
Elsewhere in the former British Empire, forms of the word shilling remain in informal use.
In Vanuatu
Vanuatu
Vanuatu , officially the Republic of Vanuatu , is an island nation located in the South Pacific Ocean. The archipelago, which is of volcanic origin, is some east of northern Australia, northeast of New Caledonia, west of Fiji, and southeast of the Solomon Islands, near New Guinea.Vanuatu was...
and Solomon Islands
Solomon Islands
Solomon Islands is a sovereign state in Oceania, east of Papua New Guinea, consisting of nearly one thousand islands. It covers a land mass of . The capital, Honiara, is located on the island of Guadalcanal...
, selen is used in Bislama and Pijin
Pijin language
Pijin is also referred to as Kanaka and is a language spoken in the Solomon Islands. It is closely related to Tok Pisin of Papua New Guinea; Bislama of Vanuatu; and Torres Strait Creole of the Torres Strait, Queensland, Australia and is written in the Latin alphabet.As of 1999 there were 306,984...
to mean "money"; in Malaysia, syiling means "coin". In Egypt
Egypt
Egypt , officially the Arab Republic of Egypt, Arabic: , is a country mainly in North Africa, with the Sinai Peninsula forming a land bridge in Southwest Asia. Egypt is thus a transcontinental country, and a major power in Africa, the Mediterranean Basin, the Middle East and the Muslim world...
and Jordan
Jordan
Jordan , officially the Hashemite Kingdom of Jordan , Al-Mamlaka al-Urduniyya al-Hashemiyya) is a kingdom on the East Bank of the River Jordan. The country borders Saudi Arabia to the east and south-east, Iraq to the north-east, Syria to the north and the West Bank and Israel to the west, sharing...
the shillin is equal to 1/20th (five qirshes — , piastre
Piastre
The piastre or piaster refers to a number of units of currency. The term originates from the Italian for 'thin metal plate'. The name was applied to Spanish and Latin American pieces of eight, or pesos, by Venetian traders in the Levant in the 16th century.These pesos, minted continually for...
s) of the Egyptian pound
Egyptian pound
The Egyptian Pound is the currency of Egypt. It is divided into 100 Qirsh , or 1,000 Milliemes ....
or the Jordanian dinar
Jordanian dinar
The dinar is the currency of Jordan. The dinar is divided into 10 dirham, 100 qirsh or 1000 fils....
.
In the thirteen British colonies
Thirteen Colonies
The Thirteen Colonies were English and later British colonies established on the Atlantic coast of North America between 1607 and 1733. They declared their independence in the American Revolution and formed the United States of America...
that became the United States in 1776, British money was often in circulation. Each colony issued its own paper money, with pounds, shillings, and pence used as the standard units of account
Unit of account
A unit of account is a standard monetary unit of measurement of value/cost of goods, services, or assets. It is one of three well-known functions of money. It lends meaning to profits, losses, liability, or assets....
. Some coins were minted in the colonies, such as the 1652 pine-tree shilling in the Massachusetts Bay Colony
Massachusetts Bay Colony
The Massachusetts Bay Colony was an English settlement on the east coast of North America in the 17th century, in New England, situated around the present-day cities of Salem and Boston. The territory administered by the colony included much of present-day central New England, including portions...
. After the United States adopted the dollar
Dollar
The dollar is the name of the official currency of many countries, including Australia, Belize, Canada, Ecuador, El Salvador, Hong Kong, New Zealand, Singapore, Taiwan, and the United States.-Etymology:...
as its unit of currency and accepted the gold standard
Gold standard
The gold standard is a monetary system in which the standard economic unit of account is a fixed mass of gold. There are distinct kinds of gold standard...
, one British shilling was worth 24 US cents
Cent (currency)
In many national currencies, the cent is a monetary unit that equals 1⁄100 of the basic monetary unit. Etymologically, the word cent derives from the Latin word "centum" meaning hundred. Cent also refers to a coin which is worth one cent....
. Due to ongoing shortages of US coins in some regions, shillings continued to circulate well into the 19th century, for example being mentioned as the standard monetary unit throughout the autobiography of Solomon Northup
Solomon Northup
Solomon Northup was a free-born African-American mulatto. He was born in Minerva, Essex County, New York. He disappeared in 1863.-Family history:...
.
In British Ceylon
British Ceylon
British Ceylon refers to British rule prior to 1948 of the island territory now known as Sri Lanka.-From the Dutch to the British:Before the beginning of the Dutch governance, the island of Ceylon was divided between the Portuguese Empire and the Kingdom of Kandy, who were in the midst of a war for...
, a shilling was equivalent to eight fanams
Madras fanam
The fanam was a currency issued by the Madras Presidency until 1815. It circulated alongside the Indian rupee, also issued by the Presidency. The fanam was a small silver coin, subdivided into 80 copper cash, with the gold pagoda worth 42 fanams. The rupee was worth 12 fanams...
. With the replacement of the rixdollar
Ceylonese rixdollar
The rixdollar was the currency of British Ceylon until 1828. It was subdivided into 48 stivers, each of 4 duit. Units called the fanam and larin were also used, worth 4 and 9½ stiver, respectively. The currency derived from the Dutch rijksdaalder and stuiver, although the rijksdaalder was worth 50...
by the rupee
Rupee
The rupee is the common name for the monetary unit of account in India, Sri Lanka, Nepal, Pakistan, Mauritius, Seychelles, Maldives, and formerly in Burma, and Afghanistan. Historically, the first currency called "rupee" was introduced in the 16th century...
in 1852, a shilling was deemed to be equivalent to half a rupee. On the decimalisation of the currency in 1869, a shilling was deemed to be equivalent to 50 Ceylon cents. The term continued to be used colloquially until the late 20th century.
External links
- The Shilling
- British Coins - Information about British coins.