Difference Between Quid and Pence

British currency or the UK currency, like many nations, has decimal currency. And for an individual to understand the currency can be a bit difficult.

Quid vs Pence

The main difference between Quid and Pence is that a Quid has more monetary value than a pence. Both of them are a part of the British currency.

Quid vs Pence

A quid refers to a subdivision of the famous British currency. A Quid is nothing but another term used instead of the popular term Pound.

A pence refers to another subdivision of the famous British currency. A pence is a term that is used instead of the other popular term Penny.

Comparison Table Between Quid and Pence

Parameters of ComparisonQuid Pence
MeaningQuid refers to the slang expression which is used in reference to the British currency Pound Sterling.Pence refers to the subdivision of the pound sterling. One pound equals 100 pence.
FormThey are available in coins as well as notes. The lower values come in coins and the higher values in different colored notes that are issued by the Bank of England.They are available only in coins. 
DenominationTheir denomination comes in values of £1, £2 are available in coins. And, £5, £10, £20, £50 are available in notes.Their denomination comes in values of 1, 2, 5, 10, 20, and 50.
Other namesThey are also known as a Pound.Quid= Pound.They are also known as Penny. 1 Pence= Penny.
InformationThe notes have pictures of famous Britons along with the Queen of England on them.They have the print of the Queen of England.

What is Quid?

A quid, in simple terms, is another word for a pound. It is described as one pound sterling. According to research, It is said that it first came into use around the late 17th century.

The other possibility of the word can be traced back to a village in England, Wiltshire, named Quidhampton. The village was the place where a Royal Mint paper mill existed.  

What is Pence?

A pence or multiple pennies are a popular form of currencies in many different countries. A pence, in simple terms, is another word for a penny.

The term penny has been derived from the Carolingian denarius, which was also its former abbreviation. Typically in most of the currency systems of a country, this denomination is the smallest.

Main Differences Between Quid and Pence

  1. Quid refers to the slang expression which is used in reference to the British currency Pound Sterling. Pence refers to the subdivision of the pound sterling.
  2. Quids are available in coins as well as notes. The lower values of Pence come in coins and the higher values in different colored notes that are issued by the Bank of England.
  3. Quid denomination comes in values of £1, £2 are available in coins. And, £5, £10, £20, £50 are available in notes.
  4. A Quid is also known as a Pound. Quid= Pound. Pence is also known as Penny. 1 Pence= Penny.
  5. The notes of Quids have pictures of famous Britons along with the Queen of England on them. Pence has the print of the Queen of England.
Difference Between Quid and Pence

Conclusion

Quid and Pence are an integral part of the British currency system. Also, both of them are supplied by the Bank of England.

There are many differences between the two. A major one being that quids have a higher value. Also, quids are created in notes and coins.

References

  1. https://www.sciencedirect.com/science/article/pii/0165176595006918
  2. https://www.jstor.org/stable/2959827
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