The old pound had the value of one pound of sterling silver and was divided into 20 shillings or 240 pennies. At one time, the old penny weighed 240th of a pound. Each shilling had 12 pennies. The symbols for each were: £ for the pound, s for the shilling and d for the penny.In old literature, we see references to other values such as crowns, florins, and guineas. They equaled five shillings, two shillings and one pound plus one shilling (£1 1s), respectively.
I think it is best to learn how small combinations were written because that is what you will find in parish rate books.£12 10s 6d was the notation for twelve pounds, 10 shillings and 6 pennies. It was commonly written as £12-10-6.
10s-6d was also written 10/6 and pronounced ‘10 and 6.’10/ meant ten shillings (half a pound).
On 15 February 1971, British money went to the decimal system and one pound was divided into 100 pennies or pence. The shillings were retired.Online you can find more information at: