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Both are correct!

Before the pound was decimalized, 12 pence were indeed a shilling, and 20 shillings a pound.

Of you go back far enough, I think it is true that at one time they were three currencies that floated against each other.

Huh? How does that work?

It's just like in fantasy novels, you have your silver and gold coins.

At risk of displaying my ignorance of English history, were they not at one time the currencies of three different kingdoms?