Shilling, an English silver coin equivalent to 12 pence sterling, or 1/20 of a pound. In reducing English money of account to United States money, a shilling is equivalent to 24.3325 cts., or, within the 1200th part of a cent, to 24 1/3 cts. The value of the coin as compared with the United States silver trade dollar, according to the proclamation of the secretary of the treasury of Jan. 1, 1875, is 21.4365 cts., or, within less than the 125th part of a cent, to 21 4/9 cts. - Many of the states while colonies had issued bills of credit which had depreciated in different degrees in the different colonies. Thus in New England currency (used also in Virginia, Kentucky, Tennessee, Indiana, Illinois, Missouri, Mississippi, Alabama, and Florida), after the adoption of the decimal system, the pound in paper money was worth only $3.333, and the shilling 16 2/3 cts., or 6s. to $1; in New York currency (also in North Carolina, Ohio, and Michigan) the pound was worth $2 50, and the shilling 12 1/2 cts., or 8s. to $1; in Pennsylvania currency (also in New Jersey, Delaware, and Maryland) the pound was worth $2 70, and the shilling 13 1/2 cts., or 7s. 6d. to $1; and in Georgia currency (also in South Carolina), the pound was worth $4 20 6/7, and the shilling 21 3/7 cts., or 4s. 8d. to $1. In many parts of the country these denominations continued to be used long after they ceased to be represented by actual money, and the reckoning by shillings and pence is not yet entirely abandoned.
In Canada the shilling was formerly reckoned at 20 cts., or 5s. to $1; but since the introduction of decimal currency in 1871, 4s. 2d. make a dollar.