The British Pound Sterling, symbolized as £, holds the distinction of being the oldest currency still in use today, dating back to around 775 AD. It was initially referred to as the “pound of silver,” representing the weight of silver coins. Historically, the pound was divided into 20 shillings, each containing 12 pence, a system that persisted until decimalization in 1971.

One of the sterling’s most intriguing features is its resistance to being replaced by the euro, reflecting the UK’s commitment to its cultural and economic sovereignty. Furthermore, the term “pound sterling” likely derives from the fact that the coins were originally minted from genuine silver, which was “sterling-grade” or 92.5% pure. This rich history showcases the pound’s enduring legacy and cultural importance in the UK and beyond.