SHILLING

, an English silver coin, equal to 12 pence, or the 20th part of a pound sterling.

This was a Saxon coin, being the 48th part of their pound weight. Its value at first was 5 pence; but it was reduced to 4 pence about a century before the conquest. After the conquest, the French solidus of 12 pence, which was in use among the Normans, was called by the English name of Shilling; and the Saxon Shilling of 4 pence took a Norman name, and was called the groat, or great coin, because it was the largest English coin then known in England. From this time, the Shilling underwent many alterations.

Many other nations have also their Shillings. The English Shilling is worth about 23 French sols; those of Holland and Germany about half as much, or 11 1/2 sols; those of Flanders about 9. The Dutch Shillings are also called sols de gros, because equal to 12 gross. The Danes have copper Shillings, worth about one fourth of a farthing sterling.

In the time of Edward the 1st, the pound troy was the same as the pound sterling of silver, consisting of 20 Shillings; so that the Shilling weighed the 20th part of a pound, or more than half an ounce troy. But some are of opinion, there were no coins of this denomination, till Henry the 7th, in the year 1504, first coined silver pieces of 12 pence value, which we call Shillings. Since the reign of Elizabeth, a Shilling weighs the 62nd part of a pound troy, or 3 dwts 20 28/31 grs. the pound weight of silver making 62 Shillings. And hence the ounce of silver is worth 58. 2d. or 5 1/6 Shillings.