Saturday, January 29, 2011

The Silver Penny

Money has played an important role in most cultures. For the genealogist, understanding how, how much, and why, will often help make decisions regarding our ancestors. For the English around 1600 the silver penny played an important role. The following outlines its use around 1600 England:

12 silver pennies = 1 shilling

240 silver pennies = 1 pound

160 silver pennies = 1 mark (two thirds of a pound)

Shillings, marks, and pounds = terms of accounts/account records

1 silver penny = a days labor wage.

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