Coins of the pound sterling another silver coin, the sceat, of 20 troy grains weight, which was in general circulation in Europe during the Middle Ages. The weight of the English penny was fixed at troy grains (about 1.46 grams) by Offa of Mercia, an 8th-century contemporary of Charlemagne. The coin's designated value, however, was that of 24 troy grains of silver (one pennyweight, or of a troy pound, or about 1.56 grams), with the difference being a premium attached by virtue of the minting into coins. Thus, 240 pennyweights made one troy pound of silver in weight, and the monetary value of 240 pennies
Troy weight was based on the tower pound, which is of a troy pound.) The "d" in "dwt" stands for "denarius", the ancient Roman coin that equates loosely to a penny. The symbol "d" for penny can be recognized in the notation for British pre-decimal pennies, in which pounds, shillings, and pence were indicated using the symbols "£", "s", and "d", respectively. For example, "£6 11s 8d" indicated six pounds, eleven shillings, and eight pence. Mint weights, also known as "moneyers' weights" were legalised by Act of Parliament dated 17 July 1649 entitled "An Act touching the monies and coins of England".