Penny Napoleonic Wars prompted the use of base metals in 1797. Despite the decimalization of currencies in the United States and, later, throughout the British Commonwealth, the name remains in informal use. No penny is currently formally subdivided, although farthings (¼ d.), halfpennies, and half cents have previously been minted and the mill (1/10¢) remains in use as a unit of account in some contexts. "Penny" is first attested in a 1394 Scots text, a variant of Old English ', a development of numerous variations including ', ', and '. The etymology of the term "penny" is uncertain, although cognates are
Scandinavian Monetary Union same level as Denmark and Sweden, 2.48 kroner/kronor per gram of gold, or roughly 0.403 grams per krone/krona. An equal valued krone/krona of the monetary union replaced the three legacy currencies at the rate of 1 krone/krona = Danish rigsdaler = Norwegian speciedaler = 1 Swedish riksdaler. The monetary union was one of the few tangible results of the Scandinavian political movement of the 19th century. In the "World Currency" of its time, British Pounds, 1 Pound was roughly equal to = 18 Kroner. The ratio connecting the Scandinavian currencies to the Latin Monetary Union was 0.72 Krone for 1