Fourpence (British coin) Fourpence (British coin) The pre-decimal fourpence (4d), sometimes known as a groat (from Dutch "grootpennig" = "big penny") or fourpenny bit, was a coin worth one sixtieth of a pound sterling, or four pence. The coin was also known as a joey after the MP Joseph Hume, who spoke in favour of its introduction. It was a revival of the pre-Union coin. Before Decimal Day in 1971 there were two hundred and forty pence in one pound sterling. Twelve pence made a shilling, and twenty shillings made a pound. Values less than a pound were usually written in terms of
Farthing (English coin) silver farthing had simply become too small to be struck, following successive reductions in the weight of silver in the coin, and far too easy to lose. It was during the reign of King James I (1603–1625) that copper coinage was introduced. From his previous experience as King of Scotland James realised that small denomination copper coins would be acceptable, as they had been in use in Scotland and on the European mainland for some time. However the English seemed to have an obsession with gold and silver, requiring that coins had their proper values' worth of metal. James decided