pound sterling

pound sterling

noun
pound2 ( def 3 ).

Origin:
1625–35

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pound sterling
 
n
See pound the official name for the standard monetary unit of the United Kingdom

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
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Encyclopedia Britannica
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pound sterling

the basic monetary unit of Great Britain, divided (since 1971) decimally into 100 new pence. The term is derived from the fact that, about 775, silver coins known as "sterlings" were issued in the Saxon kingdoms, 240 of them being minted from a pound of silver, the weight of which was probably about equal to the later troy pound. Hence large payments came to be reckoned in "pounds of sterlings," a phrase later shortened to "pounds sterling." After the Norman Conquest the pound was divided for accounting purposes into 20 shillings and into 240 pennies, or pence. In medieval Latin documents the words libra, solidus, and denarius were used to denote the pound, shilling, and penny, which gave rise to the use of the symbols , s., and d

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Encyclopedia Britannica, 2008. Encyclopedia Britannica Online.
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