Analysis of information sources in references of the Wikipedia article "Silver standard" in English language version.
Anglo-Saxon King Offa is credited with introducing the system of money to central and southern England in the latter half of the 8th Century, overseeing the minting of the earliest English silver pennies – emblazoned with his name. In practice, they varied considerably in weight and 240 of them seldom added up to a pound. There were at that time no larger denomination coins – pounds and shillingss were merely useful units of account.
Silver coins known as "sterlings" were issued in the Saxon kingdoms, 240 of them being minted from a pound of silver... Hence, large payments came to be reckoned in "pounds of sterlings," a phrase later shortened...
