Definitions for "Pound sterling"
Keywords:  pence, britain, sterling, kingdom, quid
The form of currency used in Great Britain. Prince Edward Island also used the pound until it joined Canada in 1873. After this date, the Canadian dollar became the Island's main form of currency. In the 1800's, a pound could be worth as much as four American or Canadian dollars.
n. 1. The basic monetary unit used in the United Kingdom.
The modern base unit of currency in Britain. Originally the monetary value of 12 ounces (Troy) of the high purity, durable, Sterling Silver, equivalent to 240 silver pennies. For many centuries, the value of 12 ounces of silver was equivalent to one ounce of gold.