Decimal Day Board. Consideration was given to introducing a new major unit of currency worth ten shillings in the old currency: suggested names included the "new pound", the "royal" and the "noble". This would have resulted in the "decimal penny" being worth only slightly more than the old penny (this approach was adopted, for example, when South Africa, Australia and New Zealand decimalised in the 1960s, adopting respectively the South African rand, Australian dollar and New Zealand dollar equal in value to 10 shillings). But Halsbury decided, in view of the pound sterling's importance as a reserve currency, that the pound should
Pound sterling English traders stipulated to be paid in pounds of the "Easterlings", which was contracted to "'sterling". For further discussion of the etymology of "sterling", see sterling silver. The currency sign for the pound is £, which is usually written with a single cross-bar (as on sterling bank notes), though a version with a double cross-bar (₤) is also sometimes seen. This symbol derives from medieval Latin documents; the Roman words "libra", "solidus", and "denarius" (£sd) referred to pounds, shillings and pence in the British pre-decimal (duodecimal) currency system and the black-letter "L" was the abbreviation for "libra", the basic Roman