Pence is a unit of currency used in many parts of the world, and particularly in the United Kingdom. It is a small but important denomination and has been in circulation since 1971. Pence is often thought of as the little brother of the Pound and can often be used as a fractional unit of measurement when a larger monetary amount is required. One of the most intriguing aspects of Pence is its origin. Prior to 1971, Pence was referred to as the farthing and was used as a smaller unit of measurement and exchange. Called a ‘farthings’ from the Old English expression meaning ‘one fourth’, farthings were in circulation for centuries as a smaller denomination of the Pound, but it was not until 1971 when it was officially renamed Pence. Whilst Britain is generally the country that most associates with Pence, it is important to note that the denomination is in fact used in other parts of the world too. Current countries that use Pence include Ireland, Jersey, Malta, Guernsey and Gibraltar. Each of these countries issues its own variety of Pence, and therefore the value of Pence varies depending on the issuing country. The Pence is commonly seen as an essential part of the British monetary system, and this is evident through its adoption in a range of other countries. It is a unit of measurement and exchange that has maintained an important role since its inception, and its presence ensures that the UK continues to have a secure and dependable currency system.