The money system used to buy goods was not the same as it is now. The pound was still the unit of currency, but instead of pounds and pence, the Tudors had pounds, sovereigns, crowns, half-crowns, shillings, sixpences, groats and pennies. Their values were:

 

Farthing = 1/4 penny
Half penny = 1/2 penny
Threefarthing = 3/4 penny
Penny = 1 penny = 1d
Half groat = 2 pennies = 2d
Groat = 4 pennies = 4d
Sixpence = 6 pennies = 6d
Shilling = 12 pennies = 1s
Half crown = 30 pennnies = 2s 6d
Quarter angel = 30 pennies = 2s 6d
Crown = 60 pennies = 5s
Half angel = 60 pennies = 5s
Angel = 120 pennies = 10s
Half pound = 120 pennies = 10s
Pound = 240 pence = 20s = £1
Fine Sovereign = 360 pence = 30s = £1 10s 

 

Sometimes a barter system of exchanging goods for other goods or services would be used. Rather than using coins you would find something you wanted and swap it with something that person wanted.

 

Tudor Money - Wages

Just as today the amount of wages was purely dependent on the job, or occupation. The poor Tudors would have only only traded in pennies - a pound would have been out of their reach. Some examples of the wages which were earned during the Tudor period are as follows:

 

• A nobleman would earn wages between £1500 to £3000 each year

• A merchant would earn wages of £100 each year

• A parson would earn wages of £20 each year

• A carpenter would earn wages of £13 each year

• A labourer would earn wages of £5 - £10 each year