What Is the Difference Between a Quid and a Pound?
Unravel the common confusion between "quid" and "pound" in British currency. Learn their distinct meanings and proper usage.
Understanding currency terminology can be confusing, especially with informal language. In the United Kingdom, “quid” and “pound” are common terms for money. Both refer to the same British currency value, but one is official and the other is slang. This article clarifies their differences and appropriate contexts.
The Official Pound Sterling
The official currency of the United Kingdom and several associated territories is the Pound Sterling. It is formally recognized with the symbol (£) and holds the ISO currency code GBP, which stands for Great British Pound. The Pound Sterling is legal tender.
The pound is subdivided into 100 smaller units, known as pence. Its historical roots trace back to Anglo-Saxon England, with the term originating from the Latin word “libra,” meaning “weight.” This official name is universally recognized in financial and formal settings.
The Informal Quid
In contrast to the formal Pound Sterling, “quid” serves as an informal, slang term for one pound. It is extensively used in casual conversation across the United Kingdom but carries no official status. The origin of the term “quid” is speculative, with theories suggesting it may derive from the Latin phrase “quid pro quo,” meaning “something for something,” reflecting the concept of exchange.
A notable grammatical aspect of “quid” is its use in both singular and plural forms without adding an ‘s’. For example, one might say “five quid” instead of “five quids.” It would not appear on official documents or currency. Its widespread acceptance is primarily within spoken language and informal social interactions.
Context and Usage
The appropriate use of “quid” versus “pound” depends on the communication context. “Quid” is exclusively for informal, conversational settings, commonly used among friends, family, or in casual spoken language. For instance, when discussing the cost of an everyday item with a peer, one might casually mention, “That’ll be ten quid.” This usage is widely understood in the UK.
Conversely, “Pound Sterling,” or simply “pound,” is the appropriate term for all formal, business, financial, legal, and written communications. Official documents, bank statements, and financial reports consistently use “pound” or its symbol (£) to denote monetary values. Using “quid” in formal scenarios, such as a job interview or a business transaction, would be considered inappropriate.