240 silver Saxon pennies made up a Saxon Pound, being a pound in weight. This evolved into the standard for English currency. Many hoards of Saxon silver have been found. The Anglo-Saxons refers collectively to the groups of Germanic tribes who achieved dominance in southern Britain from the mid-5th century, forming the basis for the modern English nation. ... Officially the pound is the name for at least three different units of mass: The pound (avoirdupois). ...
The pound is now freely bought and sold on the commodity markets around the world and the value therefore fluctuates (rising when traders buy pounds, falling when traders sell pounds).
The pound sterling, established in 1560–61 by Elizabeth I and her advisors, foremost among them Sir Thomas Gresham, brought order to the financial chaos of Tudor England that had been occasioned by the "Great Debasement" of the coinage, which brought on a debilitating inflation during the years 1543–51.
Pound sterling was used as the currency of the British Empire.
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