How Much Was a Bob? Understanding the Old British Shilling

Discover what a 'bob' meant in old British currency and how it relates to today's money after decimalization in 1971.

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A 'bob' is an informal term for a shilling in British slang, dating back to before the decimalization of the British currency in 1971. After decimalization, the term became obsolete for new transactions. However, a 'bob' was equivalent to twelve pence in the old British currency system, or effectively, 5 new pence in today's currency terms. It's more of a historical reference now and not used in current financial transactions.

FAQs & Answers

  1. What is a bob in British currency? A 'bob' was an informal term for a shilling in pre-decimal British currency, equivalent to twelve old pence or 5 new pence after decimalization.
  2. When did the UK stop using a bob as currency? The term 'bob' became obsolete after the UK decimalized its currency in 1971, transitioning from shillings to a new decimal system.
  3. How much is a bob worth today? A bob was worth 12 old pence, which converted to 5 new pence after decimalization, but it is no longer used in modern transactions.

Watch More

For more interesting facts on historical British currency and money slang, check out our videos on old British coins, the story behind the pound sterling, and how UK currency evolved after decimalization.

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