# British Currency-Please explain Pounds and Quid?



## Messy1 (Oct 16, 2009)

I have been watching for some time a British show off the satellite called Wheeler Dealers. For those not familiar with this show, the basis of the show is that one of the hosts buys a car for as little as possible, and the other host who is a mechanic repairs what ever needs fixed and the car is then hopefully sold for a profit.

Now my question is this. I hear the hosts talk about spending money in pounds and quid. Sometimes he switches back and forth between the two terms. I have been wanting to know for a while, what is the difference between pounds and quid, and when is it right to use each term? Is one just a slang term similar to how dollars are sometimes called bucks here in the States?


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## Colin1 (Oct 16, 2009)

No difference at all
one is the legitimate term for our currency, the other is a slang term, much like your having dollars and bucks.

You should note that there is no plural of quid; you can have a quid in your pocket, or ten quid. You can't really say one quid either, well, you can but it will sound a bit odd to a native so "it will cost you a quid" rather than "it will cost you one quid"


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## Messy1 (Oct 16, 2009)

Ok, Thanks Colin. That is what I was thinking. I have heard on the show the host do a rundown of parts list and costs where the terms are both used for higher and lower amounts and was a little confused.


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## stona (Oct 16, 2009)

Very well explained Colin. You should charge at least a couple of quid for that !
Steve


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## Colin1 (Oct 16, 2009)

stona said:


> Very well explained Colin. You should charge at least a couple of quid for that !
> Steve


Indeed
I only accept paper ones though, don't be fooled by that '50' in the top right-hand corner...


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## Messy1 (Oct 16, 2009)

Here Colin! Feel free to keep the extra as a tip for the info! I appreciate it!


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## Colin1 (Oct 16, 2009)

*_Colin searches desperately for the right paper to print it off on_...*


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## Messy1 (Oct 16, 2009)

_*Bryon hopes he is not implicated in Colin's counterfeiting scam!_


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## Colin1 (Oct 16, 2009)

It's in the washing machine as we speak
they'll never trace it back to you, I have a very comprehensive money-laundering operation here

Yeah, I know - I'll see myself out...


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## Messy1 (Oct 16, 2009)




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## vikingBerserker (Oct 16, 2009)

I'll be damed, thanks for the education Colin.


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## Thorlifter (Oct 16, 2009)

Thanks for explaining. I have heard the same terms when I watch "Ramsey's Kitchen Nightmare's" and wondered the same thing.


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## conkerking (Oct 16, 2009)

I'm sure copying currency can't be legal!

Note: always "quid", never "quids", which I have heard well-meaning but underinformed Americans say.

See also "nicker", "beer tokens" and "brass margarets".

Also:

a pony - 25 quid
a ton - 100 quid
a monkey - 500 quid
a grand - 1000 quid (obviously)


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## Messy1 (Oct 16, 2009)

How does German money break down?


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## Lucky13 (Oct 16, 2009)

Is it Mark and Pfenning?


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## Colin1 (Oct 16, 2009)

Messy1 said:


> How does German money break down?


Lose two world wars?

_*Colin draws his curtains, switches all the lights off and hides in the cupboard under the stairs*_


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## Lucky13 (Oct 16, 2009)

_*Lucky puts a padlock on the door*_


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## Messy1 (Oct 16, 2009)

_*Bryon is scared that he found that joke funny! _


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## conkerking (Oct 16, 2009)

Messy1 said:


> How does German money break down?




Euros and cents, same as most of Europe nowadays.


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## Messy1 (Oct 16, 2009)

Thanks Conkerking


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## Matt308 (Oct 16, 2009)

Messy1 said:


> How does German money break down?



It doesn't. It runs forever if you maintain it properly.


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## Thorlifter (Oct 16, 2009)

Colin1 said:


> Lose two world wars?
> 
> _*Colin draws his curtains, switches all the lights off and hides in the cupboard under the stairs*_



Now that was funny!!!!!


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## drgondog (Oct 16, 2009)

vikingBerserker said:


> I'll be damed, thanks for the education Colin.



Damed or damned?


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## muller (Oct 16, 2009)

As far as I know the term quid is used in Australia, and its used here in Ireland too, we both used to have the pound as currency. Australia now have the dollar, that's still called a quid, and we have the euro here now, also called a quid, so technically the Germans use the quid too!

There is one time you can use the word 'quids'. If you are about to make a lot of money on something, you can be said to be 'quids in'. Like when the inhabitants of the Aran Islands see a boat full of American tourists pulling into Killronan.


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## RabidAlien (Oct 16, 2009)

Colin1 said:


> Lose two world wars?
> 
> _*Colin draws his curtains, switches all the lights off and hides in the cupboard under the stairs*_




 I was gonna jump on that one, if nobody else did.


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## Vic Balshaw (Oct 17, 2009)

Ok guys, what about the phrase 'wouldn't sell it for quids'. As for the Aussie dollar being referred to as a quid, haven't heard it myself in this context. Maybe some of the £10 immigrants of the 50/60s may still use it, old habits do die hard!


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## Wayne Little (Oct 17, 2009)

..anybody got two bob.....


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## Colin1 (Oct 17, 2009)

Wayne Little said:


> ..anybody got two bob.....


Now you're just showing your age...


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## Vic Balshaw (Oct 17, 2009)

How about a half crown, or eve a crown…….must no forger the tanner or thruppence, now that was a lovely coin. Yes I know, silly old Fa*t


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## Lucky13 (Oct 17, 2009)

Wayne Little said:


> ..anybody got two bob.....



Got a few bobs here mate, how many do you need?



Vic Balshaw said:


> How about a half crown, or eve a crown…….must no forger the tanner or thruppence, now that was a lovely coin. Yes I know, silly old Fa*t



Then you also have knicker, spud etc. Don't forget Shilling, Angel, Half Sovereign and Sovereign, the Guniea, etc., etc.....





Now, _HOW_ many have thought about this and _HOW_ many can do it with their currency?


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## Messy1 (Oct 17, 2009)

thanks guys for all the info! This thread turned into a fun one for such a simple topic!


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## Lucky13 (Oct 17, 2009)

When and why your country pick your currency, Dollar, Pound, Franc, Mark etc.? Think that Sweden used to have Riksdaler once...and even a 10.000 Kronor banknote, now I think the 500 is the largest one.


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## Messy1 (Oct 17, 2009)

Good idea Lucky. It would be interesting to see the history behind each countries currency.


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## muller (Oct 17, 2009)

Lucky13 said:


> Now, _HOW_ many have thought about this and _HOW_ many can do it with their currency?




Now thats COOL! 8)

Whatever about all the names there were for all the Commonwealth coins, what about how it worked? 4 farthings in a penny, 12 pennies in a shilling, 2 shilings in a florin, 2 shillings and 6 pence in a half crown, 5 shillings in a crown, 20 shillings in a pound, a soverign was also 20 shillings, 22 shillings in a guinea. And then the population all came up with their own nicknames for all the different coins! Now thats confusing! Thank feck for decimalisation.


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## stona (Oct 17, 2009)

Did you know?
The pre-decimalisation British system of coinage was introduced by King Henry II. It was based on the troy system of weighing precious metals. The penny was literally one pennyweight of silver. A pound sterling thus weighed 240 pennyweights, or a pound of sterling silver. 
I'm not THAT old but I do remember as a lad being given a ten bob note (that's ten shillings or fifty pence in todays money) and feeling very rich. I had never had that much money before!
I have recently heard fifty pence referred to as "half a quid" which, whilst arithmetically correct, is bloody irritating.
Steve


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## vikingBerserker (Oct 17, 2009)

Lucky13 said:


> Now, _HOW_ many have thought about this and _HOW_ many can do it with their currency?



That's awesome!


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## GrauGeist (Oct 17, 2009)

I have that proof set, purchased from the Royal Mint last year.

Interesting story behind the design by Mattew Dent, and how he came to the winning set up. The mint also liked his design so well, they changed the Pound to reflect his design (which wasn't part of the competition). Not bad for a guy doing Graphic Design fresh out of college!


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## stona (Oct 17, 2009)

Right then, old currency:
The penny - subdivided into1 the hapenny (half a penny)
2 the farthing (quarter penny)
Twelve pennies make one shilling
The shilling - subdivided into 1 sixpence or a tanner (six pennies)
2 Thrupence or threpenny bit (three pennies)
Twenty shillings or two hundred and forty pennies make one pound (a quid)
The pound - subdivided into 1 Ten bob note (ten shillings)
2 A crown ( five shillings)
3 Half a crown ( two shillings and sixpence)
4 Florin or two bob bit ( two shillings)
5 shilling or bob ( one shilling)
There was also a gold coin called a Guinea. This was worth One pound and one shilling. It was not common currency. you bought livestock, paid sollicitors (attornees),some clothes and posh hotel bills in guineas. A ten guinea suit therefore cost ten pounds and ten shillings, noone would have ten ten guinea coins!
Simple wasn't it.
Steve


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## GrauGeist (Oct 17, 2009)

There's also a "Pound Sterling"...is this the equivellent of a standard Pound, or a fraction of a Guinea?


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## antoni (Oct 17, 2009)

The use of quid dates from the 17th century, possibly inspired by the Latin phrase quid pro quo. The plural for quid does exist but it is not normally used. Just as in colloquial English many people now say five pound instead of five pounds. The plural of quid is still used in the phrase “to be quids in”. I, of course, only use sovereigns and guineas.


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## vikingBerserker (Oct 17, 2009)

stona said:


> Right then, old currency:
> The penny - subdivided into1 the hapenny (half a penny)
> 2 the farthing (quarter penny)
> Twelve pennies make one shilling
> ...



Thanks Steve! I collect really old newspapers and this is Extremely helpful.


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## stona (Oct 17, 2009)

GrauGeist said:


> There's also a "Pound Sterling"...is this the equivellent of a standard Pound, or a fraction of a Guinea?


A pound sterling is just one British pound. Sterling is applied to differentiate the British pound from other currencies using the same unit, as many Empire/Commonwealth countries once did. To add more confusion sometimes you may see conditions of payment referring to Sterling and not mentioning the pound, as in "Payment accepted in Sterling"
I'm not sure of it's origins but Sterling may also refer to silver, Sterling silver being 92.5% silver.
Antoni has reminded me of the Sovereign. In Scottish slang, particularly Glasgow, a "sov" or "sovvie" is one pound.
Steve


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## Colin1 (Oct 17, 2009)

antoni said:


> Just as in colloquial English many people now say five pound instead of five pounds.
> 
> The plural of quid is still used in the phrase “to be quids in”


That's not colloquial English, that's just poor English

But not when concerning the money in your pocket which I believe was the question


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## stona (Oct 17, 2009)

"five pound " rather than "five pounds" maybe bad English but it is certainly a common usage. I avoid the issue and simply say "a fiver" or "deep sea diver". We'd better not get into Rhyming slang!
I bet none of our non British friends know what sum of money is meant by " a monkey" or " a pony".
Any sum of money may be called "reddies" as in ready cash. I have read that this referred specifically to the fifty pound note which is red, however I remember the term long before most of us had ever seen a fifty. 
This could go on for a while!
Anyone know why another term for a pound is "a nicker"?
Steve


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## muller (Oct 17, 2009)

I've heard the term nicker used before. There's a few slang terms here for money. The irish pound note looked like this...







It was green with Queen Maeve on it, so they were, especially in Dublin, called 'snots'. (snot is dried nasal mucus)
This was replaced by a coin in the early 90's, but the term stuck.

I've heard £5 and €5 referred to as a 'skin diver', but thats ryhming slang for fiver.

And the euro is now called the 'yo-yo'.


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## Lucky13 (Oct 17, 2009)

Who's the lass?


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## Colin1 (Oct 17, 2009)

I saw a Crown when I was very young, it was the biggest coin I'd ever seen though no doubt exaggerated by my being small. I missed the farthing too but its legacy lived on in sweetshops; 'blackjacks' or 'fruit salads' for four-a-penny. Anyone remember the old price tickets eg

2/- which was two shillings or 'two bob' (10p)
10/6d which was ten shillings and sixpence or 'ten and six' (52 1/2p)
6d which was sixpence or 'a tanner' (2 1/2p)
3 1/2d which was three and a half pence or thre'pence ha'penny

for example? Odd that pence were denoted with a 'd' pre-decimal.


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## B-17engineer (Oct 17, 2009)

I think the biggest US bill was 100,000 dollars..

I was in Philadelphia this past summer at the mint (If you ever visit Philadelphia never go there......unbelievably boring..) and saw the 100,000 dollar bill.


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## stona (Oct 18, 2009)

Colin1 said:


> odd that pence were denoted with a 'd' pre-decimal.



It's latin. The old £ s d refers to (in their plural form) Librae, Solidae and Denarii. 
Steve


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## Vic Balshaw (Oct 18, 2009)

Who remembers the silver threepenny bit? Some of you younger Brits may have chewed on them if your Mum put them in the Christmas pud.


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## Wayne Little (Oct 18, 2009)

Colin1 said:


> Now you're just showing your age...



Guess I am mate!...still refer to imperial sh!t too!!


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## stona (Oct 18, 2009)

I remember the siver threepenny bit as my grandma kept some, she convinced me they were actually silver which they weren't. I think the twelve(?) sided "copper" coin was in circulation by then. We were lucky, we got tanners (sixpence pieces) in our Christmas pudding. Probably due to inflation!
People still refer to small change as "coppers"
Steve


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## conkerking (Oct 18, 2009)

We used to get sixpences in our Chrustmas pud too. They were worth 2.5 pence. Think of the health and safety issues they'd bleat about these days.


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## parsifal (Oct 18, 2009)

My grandmother had a number of gold sovereigns which mysteriously disappeared from the estater when she died. She told me that they were still legal tender when she was growing up in the earely 20th century.

I am old enough to remember buying an enormous bag of sherbies for sixpence, kept me chewing all afternoon


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## Lucky13 (Oct 18, 2009)

Remember as a kid getting Ett Ores candy in Sweden, went down one day with 1 Krona......100 different ones, wasn't feeling too well after that!


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## Lucky13 (Oct 18, 2009)

The krona (sign: kr; code: SEK) has been the currency of Sweden since 1873. It is locally abbreviated kr. The plural form is kronor and one krona is subdivided into 100 öre (singular and plural). The currency is sometimes informally referred to as the "Swedish crown" in English (since krona literally means crown in Swedish). The Swedish krona also circulates in the Åland Islands alongside the official Finnish currency, the euro.

*History*
The introduction of the krona, which replaced at par the riksdaler riksmynt, was a result of the Scandinavian Monetary Union, which came into effect in 1873 and lasted until World War I. The parties to the union were the Scandinavian countries, where the name was krona in Sweden and krone in Denmark and Norway, which in English literally means crown. The three currencies were on the gold standard, with the krona/krone defined as 1⁄2480 of a kilogram of pure gold.

After dissolution of the monetary union, Sweden, Denmark, and Norway all decided to keep the names of their respective and now separate currencies.

*Coins*
Between 1873 and 1876, coins in denominations of 1, 2, 5, 10, 25, 50 öre, 1, 2, 10 20 kronor were introduced, with the 1, 2 5 öre in bronze, the 10, 25, 50 öre and 1 and 2 kronor in silver and the 10 20 kronor in gold. Gold 5 kronor were added in 1881.

Production of gold coins ceased in 1902 and was only briefly restarted in 1920 and 1925 before ceasing entirely. Due to metal shortages during World War I, iron replaced bronze between 1917 and 1919. Nickel-bronze replaced silver in the 10, 25 50 öre in 1920, with silver returning in 1927.

Metal shortages due to World War II again led to changes in the Swedish coinage. The nickel-bronze 10, 25 and 50 öre were again issued between 1940 and 1947. In 1942, iron again replaced bronze (until 1952) the silver content of the other coins was reduced. In 1952, cupro-nickel replaced silver in the 10 öre, 25 öre 50 öre coins, with the 2 kronor following suit the 1 krona switching to cupro-nickel-clad copper (replaced by cupro-nickel in 1982) in 1958. 5 kronor silver coins were produced in 1954, 1955 and 1961, with designs similar to contemporary 1 and 2 kronor coins.

In 1962, a new smaller 5 kronor coin was introduced, struck in cupro-nickel-clad nickel. The current design has been produced since 1979. In 1971, the 1 and 2 öre, as well as the 2 kronor coins ceased production. The size of the 5 öre coin was reduced in 1972. In 1984, production of the 5 and 25 öre coins came to an end, followed by that of the 10 öre in 1991. Also in 1992, aluminium-brass ("Nordic gold") 10 kronor coins were introduced along with bronze coloured 50 öre coins. The government has decided in March 2009 to stop production of the 50 öre coins. They will not be legal payment from October 2010. The reason could include low purchasing power because the coins cannot be used in most parking machines vending machines. 2 20 kronor coins are currently under consideration by the Swedish Riksbank.

Of the other denominations issued in the past, all 2 kronor minted from 1876 onwards remain legal tender,[9] although these are extremely rarely seen in circulation. In addition, all jubilee and commemorative coins minted in 1897 or later are also legal tender.[10] The 2 kr coins contained 40% silver until 1966, which meant that they already several years ago were worth much more than 2 kr, so most have been bought and melted down by arbitrageurs, and the rest are kept by collectors. It is not legal in Sweden to melt down coins that are legal tender, which is why they still are legal.

By tradition, coins less than 1 krona do not bear the monarch's effigy, whilst those of 1 krona and above do (the current 5 kronor coin being the only exception). The royal motto of the monarch is also inscribed on many of the coins.

*Banknotes*
In 1874, notes were introduced by the Riksbank in denominations of 1, 5, 10, 50, 100 and 1000 kronor. The 1 krona was only initially issued for two years, although it reappeared between 1914 and 1920. In 1939 and 1958, 10,000 kronor notes were issued.

The 5 kronor note was discontinued in 1981, although a coin had been issued since 1972. In 1985, the 500 kronor note was introduced. With the introduction of a 10 kronor coin in 1991, production of 10 kronor notes ceased and a 20 kronor note was introduced. Production of 50 kronor notes was suspended that year but resumed in 1996. In 2006 the Riksbank introduced a new 1000 kronor note which is the first note to contain the Motion security feature developed by Crane. Crane AB, located in Tumba Sweden, prints all of the kronor banknotes.

*The euro*
According to the 1995 accession treaty, Sweden is required to join the eurozone and therefore must convert to the euro at some point. Notwithstanding this, on 14 September 2003, a consultative Swedish referendum was held on the euro, in which 56% of voters were opposed to the adoption of the currency, out of an overall turnout of approximately 80% (according to the BBC). The Swedish government has argued that such a course of action is possible since one of the requirements for eurozone membership is a prior two-year membership of the ERM II. By simply choosing to stay outside the exchange rate mechanism, the Swedish government is provided a formal loophole avoiding the theoretical requirement of adopting the euro.

Some of Sweden's major parties continue to believe that it would be in the national interest to join, but they have all pledged to abide by the results for the time being, and have shown no interest in raising the issue again. There is an agreement among the parties not to discuss the issue before the 2010 general election. After it a debate could start leading towards a new referendum in 2012 or later, though it is likely that one would be held considerably later than that. Polls in 2005 and 2006 generally showed about 55 percent of respondents being opposed and 45 percent in favour, not counting those who are unsure (about 15%). In a poll from May 2007, 33.3% were in favour, while 53.8% were against, and 13.0% were uncertain.

In Dagens Nyheter, Fredrik Reinfeldt, the Prime Minister of Sweden said that a new referendum on euro will not be held until support is gained from the people and all the major parties, and as such that the time is at the discretion of the Social Democrats. He added that Mona Sahlin, the the leader of the Social Democratic Party request for deferral of new referendum until after the 2010 mandate period is to be respected.

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*Nicknames*
As I remember, spänn, bagis, pengar, stålar, I'm sure that there are a few moree.....


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## Vic Balshaw (Oct 20, 2009)

Mum sent me to the shop with a shilling for sweet, I came back with 4 red toffee sticks (1d each) 2 sherbet lollies on sticks (2d each) and a sherbet tube and coconut tobacco tube (2d each). It was a virtual smorgasbord of treats.


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## stona (Oct 20, 2009)

Used to get two bob a week pocket money. If you spent that at the "tosh" shop and then ate it in one go you could go a bit green around the gills. Never stopped me though!
Incredible to think that now that is only ten pence, less than the price of a Mars bar.
Steve


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## Lucky13 (Oct 20, 2009)

Vic Balshaw said:


> Mum sent me to the shop with a shilling for sweet, I came back with 4 red toffee sticks (1d each) 2 sherbet lollies on sticks (2d each) and a sherbet tube and coconut tobacco tube (2d each). It was a virtual _*smorgasbord*_ of treats.




Now, who here has had a _proper_ Swedish smorgasbord?


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## Vic Balshaw (Oct 21, 2009)

Lucky13 said:


> Now, who here has had a _proper_ Swedish smorgasbord?



Please explain


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