A 'bob' was the widely used slang term for a Shilling in the historical British currency system before decimalisation.
The Bob's Value Before Decimalisation
Prior to 1971, the United Kingdom used a non-decimal currency system based on Pounds, Shillings, and Pence (often abbreviated as £sd). In this system, a 'bob' or Shilling had a specific value relative to the penny:
- A Shilling was equivalent to 12 old pennies.
This meant there were 20 Shillings in a Pound.
Value After Decimalisation (Post-1971)
The UK switched to a decimal currency system in 1971. Under this new system, the Shilling coin was equivalent to a specific amount in new pence:
- Following decimalisation in 1971, a Shilling became worth 5 new pence.
Although the Shilling coin continued to circulate alongside the new 5p coin for a period due to their identical size and value, the term 'bob' eventually faded from common use as the old currency system became a memory.
Understanding the 'Ten Bob Note'
Before decimalisation, a common banknote was the 'ten bob note'. As the name suggests, this note was worth 10 Shillings. The reference information details its equivalent value in other old denominations:
- The old 'ten bob note' (10 shillings) was the equivalent of:
- 5 Florins
- 4 Half Crowns
- 2 Crowns
Understanding the value of the 'bob' provides a glimpse into the historical British monetary system and its transition to modern currency.
