Understanding British Money?

Question

I'm from the US going to visit the UK soon. I need to understand how money works there.

1 pound is the same as 1 quid, correct? It's just another way of saying like in America we sometimes call a dollar a buck. Am I correct?

I also understand that a pence is equal to a penny. But do they have different values?

Like 5 pence would be equivalent to a nickel in America? And 25 pence would be equal to a quarter in America?

Please explain!!!!!

And thanks so much in advance :)

Answer 1

Here's a handy site: http://www.bellaonline.com/articles/art4...

A little practice will help.

Have a blast. It's a wonderful place to visit.

Answer 2

I UK pound has 100 pence, and 1 UK pound is worth about $2, so one pence is 2 cents.

Easy conversion rate though, whatever price you see, simply double it for its US dollar equivalent. Note, that unlike the USA, all sales tax is INCLUDED in any price that you see!..