New Westphalian pound
| New Westphalian Pound |
|Official users||Republic of New Westphalia|
|Pegged to||British Pound Sterling|
|Sub-unit||Shillings (s) and Pence (d)|
|Coins||1/4d, 1/2d, 1d, 2d, 3d, 6d, 1s, 2s, 1 Crown (5s), 10s, £1, 1 Guinea (21s), £2|
|Banknotes||10s, £1, £5, £10, £20, £50, £100|
|Central bank||Bank of New Westphalia|
Yields to Bank of England
|Printer||Bank of New Westphalia|
|Mint||Bank of New Westphalia|
The New Westphalian Pound is the sole official currency of the Republic of New Westphalia and is used for all trading purposed within the Republic. It was created unofficially on the Second of August 2013 upon the creation of the Republic as a single currency to be adopted by the constituent countries. It was officially made the currency of New Westphalia upon the passing of the "Act on the Establishment of a New Westphalian Currency (MMXIV)".
The New Westphalian Pound is divided into twenty shillings, each of which is divdided into twelve pennies or pence and is closely based around the pre-decimalised form of the British Pound. It is tied in value to the British Pound at 1NWP = 1GBP, making One Shilling worth Five New Pence.
Upon the Merging of Strathy and Draega into the Republic of New Westphalia in August 2013, it was decided that a new currency would need to be created to serve the Republic in place of Strathan Whitsenmark and the Draegan Draega-Krun. In an effort to make trade through the United Kingdom easier, it was decided that any currency should resemble and, ideally, be pegged to the British Pound Sterling in some way.
During the Negotiations up to, during and following the Merger of Nations, various options were discussed, however the eventual result was the New Westphalian Pound. This would be tied to the British Pound Sterling at the rate of 1NWP = 1GBP. It was decided, however, in order to distinguish it from the British Pound, and indeed most other currencies, that it should use the same format as the pre-decimalised British currency.
The New Westphalian Pound is based closely around pre-decimalised British currency, with One Pound being divided up into twenty shillings, each of which is divided into twelve pence. The New Westphalian Pound has the divided in the following way:
- 1 Halfpenny/ha'pny = 2 Farthings
- 1 Penny (d) = 2 Halfpennies = 4 Farthings
- 1 Shilling (s) = 12 Pennies/Pence
- 1 Crown = 5 Shillings = 60 Pence
- 1 Pound (£) = 4 Crowns = 20 Shillings = 240 Pence
- 1 Guinea = 21 Shillings = 252 Pence
Coin and Note Values
The coin denominations of the New Westphalian Pound are as follows:
- 1 Farthing = 1/4d
- 1 Halfpenny = 1/2d
- 1 Penny = 1d
- 2 Pence/tuppence = 2d
- 3 Pence/threepence = 3d = 1/4s
- 6 Pence/sixpence = 6d = 1/2s
- 1 Shilling = 1s =12d
- 2 Shillings = 2s
- 1 Crown = 5s = 60d
- 10 Shillings = 10s = £1/2 = 120d
- 1 Pound = £1 = 20s = 240d
- 1 Guinea = 21s = 252d
- 2 Pounds = £2
Notes exist for values of Ten Shillings, One Pound, Five Pounds, Ten Pounds, Twenty Pounds, Fifty Pounds and One Hundred Pounds.
Costs and values are always quoted in the format of Pounds, Shillings and Pence (£sd) and may often be written in such a manner for example the cost of Battenberg cake at One Pound, Three Shillings and Threepence could be written as £1,3s,3d. However, it is also often written using slashes and dashes as opposed to letters. The same cake, costing the same amount of money could be given as £1,3/3. A cake coming in at threepence less could be written in this format as £1,3/-.