In the old English money system, a “bob” was a slang term for a shilling. Back in the day, when the UK used a non-decimal currency, a shilling was equivalent to 12 pence. However, with the introduction of decimal currency in 1971, the value of a shilling or “bob” changed.
In today’s decimal currency, a shilling or “bob” is worth 5 pence. This means that if you were to convert a shilling from the old currency into today’s decimal currency, it would be equivalent to 5 pence.
To give you some perspective, think of it this way: if you had 10 shillings in the old currency, that would be equivalent to 50 pence in today’s decimal currency. Similarly, if you had 100 shillings, it would be worth 500 pence.
The transition from the old currency to the decimal currency was a significant change for the UK. It was a move towards a more streamlined and efficient system, making calculations and transactions easier for the general public.
Personally, I remember my grandparents talking about the old shilling and how they had to convert their savings to the new decimal currency. They often spoke nostalgically about the old days and the value of a shilling. It’s interesting to think about how different things were back then in terms of money and currency.
A “bob” in the old English money system referred to a shilling, which was worth 12 pence. However, in today’s decimal currency, a shilling or “bob” is equivalent to 5 pence. The transition to decimal currency brought about a change in the value and perception of the shilling, marking a new era in the UK’s monetary system.