Pound vs Quid
Pound is the currency of Great Britain though the formal name of the currency is Pound Sterling. It is one of the most important and most traded currencies of the world. There is another term quid used for pounds that confuses many people who do not hail from UK. The use of the term quid in singular for pounds is casual and not formal. This article attempts to find out the origin and meaning of the term and differences, if any, with the official currency of Great Britain, which happens to be Pound Sterling.
Pounds
The official currency of Great Britain is Pound Sterling. Though it remains pounds inside Britain, the currency is officially called pound sterling to differentiate it from the currencies that are called pounds in several countries of the world. The term sterling is also sometimes sufficient to convey the name of the currency, but it is not used when talking about specific amounts. So it is never ‘500 sterling’ but the sign in front of a shop can read payments accepted in sterling. Though some people refer to the currency as British Pound, this term is not used in formal situations.
Quid
Quid is a slang term that is used to refer to money in Britain just as people use bucks for dollars in US. Quid is always used in singular no matter how many pounds you are talking about. So it is always Quid and not Quids. Take a look at the following example.
• I would settle for 500 quid for this used motorcycle.
• 20 Quid is all I can give for this toy.
There are several stories behind the origin of the word Quid with one ascribing its use to the Royal Mint in Quidhampton prompting people to refer to money as simply Quid. There are some who say that Quid for Pound Sterling must have come from the Latin quid pro quo where something stands for something else.
Quid vs Pounds (Sterling Pounds)
• Pound is the official currency of Great Britain though the formal name of the currency is Pound Sterling.
• Quid is a casual term for money in Britain as there is ‘bucks for dollars’ in US.
• You can say one Quid or 1000 Quid and all you have to do is to replace pounds with Quid. Never use it before the denomination as in Quid 10.
• Quid may have come into origin because of the Royal Mint at Quidhampton.