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English Coins and Tokens

Llewellynn Frederick William Jewitt and Barclay V. Head

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Book Excerpt: 
. . .The word in the singular is sceat or scæt, and the Saxon sc being pronounced soft, as sh, became sheat or shæt. From this it naturally became corrupted into “shot,” and thus “paying your shot” simply meant paying your money, or clearing your reckoning, and “not having a shot in your locker,” being without money in cupboard, or purse. These early coins, some of which appear to bear Runic characters, cannot with any degree of certainty be appropriated to any kings.

The penny, penig, pening, or pending (said to be the diminutive[20] of pand, a pledge, and also by some said to be derived from pendere, to weigh) is first named in the laws of Ina, king of the West Saxons, who began to reign A.D. 688. It was, as now, as has been conclusively shown, the 240th part of a pound, which weighed about 5760 grains; the weight of a penny was, therefore, 24 grains, which still in our tables constitute a “dwt.” or &ldqu. . . Read More

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