how did people buy really cheap stuff in the olden days when pounds were worth much more ? Surely 1 pence would be paying too much in certain situations
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In the UK, there used to be 240 pennies to the pound prior to decimilisation in 1971, rather than 100. Furthermore, coins that were fractions of pennies existed–the half penny was still around when I was a lad, and if you go back further you find farthings (worth 1/4 penny) as well. There were coins that were fractions of a farthing, but those were generally minted mainly for use in overseas territories like Malta and Ceylon (now Sri Lanka).
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