POUND COIN Meaning and
Definition
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A pound coin is a monetary unit of the United Kingdom's currency, the pound sterling (£). It is a disc-shaped metallic currency denomination that represents a value of one pound. The pound coin is issued by the Royal Mint and circulates as legal tender in the UK.
Typically made from nickel-brass, a pound coin is about 23.40 millimeters in diameter and weighs approximately 8.75 grams. It features an outer rim styled with alternating milled and smooth sections, and the inscription of its denomination "ONE POUND" on the reverse side. The obverse side of the coin depicts the reigning British monarch's effigy, which varies to represent different royal reigns.
Introduced in 1983, the pound coin was introduced to replace the one-pound banknote, as coins have a longer lifespan and are more durable for circulation. Throughout its existence, various designs and alterations have been made to the pound coin's appearance, including commemorative editions to mark significant events or anniversaries.
The pound coin is widely used and accepted in daily transactions across the UK, including retail businesses, vending machines, transportation services, and other cash-based activities. It is an essential element of the British currency system, representing a significant denomination in the monetary hierarchy.
Common Misspellings for POUND COIN
- oound coin
- lound coin
- -ound coin
- 0ound coin
- piund coin
- pkund coin
- plund coin
- ppund coin
- p0und coin
- p9und coin
- poynd coin
- pohnd coin
- pojnd coin
- poind coin
- po8nd coin
- po7nd coin
- poubd coin
- poumd coin
- poujd coin
- pouhd coin
Etymology of POUND COIN
The word "pound" in the term "pound coin" comes from the British currency unit called the pound sterling. The term "pound" has a long history and can be traced back to the Latin word "libra pondo" which means "pound weight". In ancient Roman times, a libra was a unit of weight, and it eventually became associated with a unit of currency.
The British pound sterling as a currency dates back to Anglo-Saxon England in the 8th century. The term "pound" referred to a pound weight of silver, which was the standard value of the currency. Over the centuries, the pound sterling evolved into the official currency of the United Kingdom.
Regarding the term "coin", it comes from the Latin word "cuneus", meaning "wedge". Coins were initially made by hammering flat pieces of metal into a wedge shape, hence the name "coin".
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