By Robin Trent
Money in the Victorian Era: Coins, Notes, and What They Were Really Worth
The Victorian era (1837–1901) operated on a monetary system that feels arcane today, yet it governed every aspect of daily life—from a maid’s weekly wage to the cost of coal, candles, mourning clothes, and railway travel. Britain used a pre-decimal currency system, rooted in medieval accounting and resistant to reform until well into the twentieth century.
Understanding Victorian money requires understanding not just denominations, but purchasing power—what those coins and notes meant in lived experience.
The Structure of Victorian Currency
Victorian Britain used the £ / s / d system: 
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£1 (one pound)
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20 shillings (s) = £1
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12 pence (d) = 1 shilling
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240 pence = £1
The abbreviations came from Latin:
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libra (pound)
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solidus (shilling)
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denarius (penny)
Common Victorian Coins (and Modern Equivalents)
Coin Value (Victorian) Approx. Modern Value* Notes Farthing ¼d ~$0.25–0.40 Used for bread, matches, children’s sweets Halfpenny (½d) ½d ~$0.50–0.75 Common for food staples Penny (1d) 1d ~$1.50–2.00 A meaningful daily sum Threepence (3d) 3d ~$4–6 Small silver coin Sixpence (6d) ½s ~$8–12 Popular wage & gift coin Shilling (1s) 12d ~$15–20 Typical daily skilled wage Florin (2s) 2s ~$30–40 Introduced mid-Victorian era Half Crown (2s 6d) 2.5s ~$35–50 Middle-class spending coin Crown (5s) 5s ~$70–90 Large silver coin, not everyday Sovereign (gold) £1 ~$120–150 High prestige, gold-backed
*Modern equivalents are rough averages, based on purchasing power rather than strict inflation.
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1d: loaf of bread or a pound of potatoes
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6d: modest meal or theatre gallery seat
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1s: coal for heating a small home (short term)
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£1: a week or more of working-class household expenses
A single shilling mattered. Losing one could mean real hardship.
Paper Money in the Victorian Era
Paper notes were less common than coins and carried social weight.
Common Notes:
| Note | Victorian Value | Modern Equivalent |
|---|---|---|
| £1 note | £1 | ~$120–150 |
| £5 note | £5 | ~$600–750 |
| £10 note | £10 | ~$1,200–1,500 |
| £20+ notes | Rare | Large fortunes |
Paper money was issued primarily by the Bank of England and select private banks (earlier in the century). Many working-class people never handled a banknote in their lives.
Wages in Context:
| Occupation | Typical Wage |
|---|---|
| Domestic servant | £12–25 per year |
| Factory worker | 10–20s per week |
| Skilled tradesman | 25–40s per week |
| Clerk / lower middle class | £100–200 per year |
| Upper middle class | £300+ per year |
A household living on £150 a year was respectable—but not wealthy
Gold, Silver, and Trust
Victorian money was backed by precious metals:
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Copper (low denominations)
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Silver (everyday coins)
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Gold (sovereigns)
A coin’s material mattered. People trusted gold. They judged silver by weight. Counterfeiting, clipping, and debased coins were real concerns—another reason paper money was treated with suspicion.
Why Victorian Money Feels So Alien
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Non-decimal math (12s, 20s, 240d)
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Visible inequality—money constantly reinforced class
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Physicality—coins were heavy, tangible, felt
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Moral weight—debt, charity, and spending were moralized
Money was not abstract. It was social position, survival, and respectability in metal form.
In Short
Victorian money was:
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Complicated but precise
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Tangible and hierarchical
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Deeply tied to daily survival
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A constant reminder of one’s place in society
Understanding Victorian currency isn’t just about coins—it’s about understanding how Victorians experienced the world.