Groat (coin)
The groat is the traditional name of a long-defunct English silver coin worth four English pennies, and also a Scottish coin originally worth fourpence, with later issues being valued at eightpence and one shilling.
Name
The name has also been applied to any thick or large coin, such as the Groschen (grosso), a silver coin issued by Tyrol in 1271 and Venice in the 13th century, which was the first of this general size to circulate in the Holy Roman Empire and other parts of Europe. The immediate ancestor to the groat was the French gros tournois or groat of Tours, which was known as the groot (Dutch for "great" or "large") in the Netherlands.
The name groat also refers to a range of other European coins such as those of the Italian peninsula known as a grosso including the grosso of Venice and the Kraków grosz. Marco Polo referred to the groat in recounts of his travels to East Asia when describing the currencies of the Yuan Empire. His descriptions were based on the conversion of 1 bezant = 20 groats = 133⅓ tornesel.
Fourpence (British coin)
The pre-decimal fourpence (4d), sometimes known as a groat or fourpenny bit, was a coin worth one sixtieth of a pound sterling, or four pence. The coin was also known as a joey after the MP Joseph Hume, who spoke in favour of its introduction. It was a revival of the pre-Union coin.
Before Decimal Day in 1971 there were two hundred and forty pence in one pound sterling. Twelve pence made a shilling, and twenty shillings made a pound. Values less than a pound were usually written in terms of shillings and pence, e.g. forty-two pence would be three shillings and six pence (3/6), abbreviated to "three and six" in common speech. Values of less than a shilling were simply written in terms of pence, e.g. eight pence would be 8d.
History
The prospect of the introduction of a general circulation fourpence coin was raised in 1835, when the MP Joseph Hume spoke in Parliament in favour of its introduction. His reasoning was that the coin was convenient for paying cab fares. The coin was first introduced in 1836, but proved unpopular with cab drivers as they now simply received a fourpence as payment, whereas previously they would often receive a sixpence without the demand for change.
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