Pound (mass) No standards of the Tower pound are known to have survived. The Tower pound was equivalent to about 350 grams. The merchants' pound ("mercantile pound", "libra mercantoria", or "commercial pound") was considered to be composed of 25 rather than 20 Tower shillings of 12 pence. It was equal to 9,600 wheat grains (15 tower ounces or 6,750 grains) and was used in England until the 14th century for goods other than money and medicine ("electuaries"). The London pound is that of the Hansa, as used in their various trading places. The London pound is based on 16 ounces, each ounce
Pound sterling the monetary policy of their own currencies (where they exist), and have their own ISO 4217 codes. The Falkland Islands pound, Gibraltar pound, and Saint Helena pound are set at a fixed 1:1 exchange rate with the British pound by local governments. Legal tender in the United Kingdom is defined such that "a debtor cannot successfully be sued for non-payment if he pays into court in legal tender." Parties can alternatively settle a debt by other means with mutual consent. Strictly speaking it is necessary for the debtor to offer the exact amount due as there is no obligation for