definitions of english currancy; such as, what is a pound, a pence, etc. in relation to US currancy ?

Answer 1

The value of the pound, pence, yen etc to the dollar changes, not only day to day, but it can change from minute to minute. Visit the website below for current exchange rates.

Answer 2

The English Currency (or British Currency even) is known as Pounds Sterling. Historically the weight of the material which the coins were made out of were worth their equivalent in silver for trading, hence one pound sterling (£1) was effectively the tradeable equivalent of a pound (lb) of silver.

Nowadays, money is used as a convenient medium of exchange, store of value, and unit of account. Paper money has practically 0 intrinsic value, but because of the Royal mint it is worth something acceptable otherwise we would have to barter for everything.

Historically the American and British currencies were pegged to silver and then to gold (ie. the Gold Standard), but more recently there has been fixed exchange rates (Such as the Brent Wood system) and the flexible exchange rates. The British currency and the US currency both operate on flexible exchange rates. The exchange rates can be found simply by googling for them.

1 pound is the equivalent to 100 pence. We have a 1 pence piece, 5 pence piece, 10 pence piece, 20 pence piece, 50 pence piece, a 1 pound coin, and a 2 pound coin. There may still be 1 pound paper money still in circulation but rare. Otherwise for paper money we have a £5 note, £10 note, £20 note, £50 note, and I'm not sure but maybe also a £100 note.

Answer 3

Figure right now that a pound is about $2 US. One pence is a hundredth of a pound, so it's about 2 cents US.

This isn't exact, but is real close, and an easy way to estimate what something costs in US money.