I liked the old system -- much more fun. Especially the difference between a pound (20 shillings) and the guinea or sovereign (21 shillings). The difference came about because the value of the paper pound floated with respect to the gold sovereign. They finally standardized the sovereign to 21 shillings.
The one pound coin is an interesting animal. It's a fairly small brass-colored coin, but very thick so rather heavy. This makes it easy to distinguish from all the other coins, but it does "tend to make holes in one's pockets".
The one pound coin came out when Margaret Thatcher was Prime Minister. The new coin was called "The Maggie" because it's "hard, brassy, and thinks it's a sovereign".
So when is the USA finally going to come up with a successful dollar coin? My opinion: at the very least they need one on which George Washington looks exactly like he does on the one-dollar bill. It would also help to have it gray on the front and green on the back.
"It would also help to have it gray on the front and green on the back."
I don't know if other countries do it, but Canada has managed to produce quarters with different colours. I have seen them with red and blue, but googling promises some with multiple colours like this blus jay (http://www.google.ca/search?q=canadian+quarter+with+blue&hl=en&tbo=u&tbm=isch&source=univ&sa=X&ei=0-UjUYpQj9XSAf2ugbgN&sqi=2&ved=0CDcQsAQ&biw=1294&bih=811#imgrc=UTfuTP9J90W2dM%3A%3BpVBTOYmE5Qqb5M%3Bhttp%253A%252F%252Fwww.talismancoins.com%252Fcatalog%252FCanada_2010_Blue_Jay_Quarter_Pkg.jpg%3Bhttp%253A%252F%252Fwww.talismancoins.com%252Fservlet%252FDetail%253Fno%253D1268%3B563%3B600) or one that even glows in the dark (http://www.dailymail.co.uk/news/article-2129084/Canada-rolls-new-dinosaur-quarter--glows-dark.html). I have yet to see either of those two.
Thanks Clive, the old system was even more complicated than I thought!
By the way, the speed of light can be expressed as 1.8026*10^12 furlongs per fortnight.
Thankfully there are no British units for electricity & magnetism :)
When I (and David, I guess) was growing up in (then) Rhodesia, the penny had a hole in the middle. We used to collect a "penny string" which was obviously a stack of pennies on a string. When you got to 240 of them, you hopped on your bicycle and went to town to a bank to get a one pound note in exchange for about 3 lbs of coins. This was a LOT of money even when I was a teenager. 240 US cents or even 240 new pence is chump change today.
@antedeluvian - yep I remember them, remember some of the old ones were silver in colour - made of a nickel alloy I think. As far as I know Zim does not even use coins now.
We used to call payphones "Tickey-boxes" as they accepted a minimum of 3d for a call. It would also buy you an ice lolly - hence we called them "tickey lollies".
"Sixpence" and "Tickey" were also widely used first names among the African population...
I always thought that "bob" was Southern African- shows you!. The boy scouts used to fund raise by offering their services for "bob-a-job". We used to call the "threpny bit" a tickey. Doubled well as a makeshift screwdriver! There was a "little person" clown at the circus who called himself "Tickey".
I remember doing endless exercises at school involving pounds (currency), shillings, pence, pounds (weight), ounces, pints, fluid ounces, quarts and gallons. Life was fun in those days!
And as well as being called a "Thatcher", I remember people calling it a "Scargill" (after the firebrand trade unionist) because it was hard, brassy and a weight in the tax payers pocket. A fify pence piece (half a pound), then became an "Arfur Scargill".
Guineas where used in auction houses. When an item was priced at "10 guineas", the buyer paid 10 guineas, but the seller received 10 pounds. The 5% difference was the auctioneers fee.
As far as I know, horse auctions still often use guineas in their prices. (And the horses' heights are measured in hands!)