Thank you for the explanations never did know there was 240 pennies to the pound but how did 12 pennies come to be known as bob? I understand how we ended up with bits as a Spanish dollar which was coin of the "Realm" back in colonial days was divided into eight bits.....I'm sure you have all heard the term "Pieces of Eight"........so 2 bits is 1/4 or a quarter....4 bits is a 1/2 or half a dollar etc.
Rick H.
Rick H.