Currency in Scotland in 1286: The Scottish Pound

In 1286, Scotland’s legal tender was the Scottish pound (Latin: libra), introduced by David I in 1124 and modeled on the English pound sterling.

Subdivisions

• 1 pound = 20 shillings (solidi)
• 1 shilling = 12 pennies (denarii)
• Thus 1 pound = 240 pennies.

Coinage

Silver pennies were the main circulating coin; halfpennies and farthings (¼ penny) were cut from pennies. No gold coins were minted in Scotland until the 14th century.

Parity with England

Initially at par with sterling, the Scottish pound gradually diverged due to debasement. By the late 16th century, £12 Scots ≈ £1 Sterling.