The currency is the system of money which is applicable or is in the general use in the specific country, are or the region. Dollars, Yen, Euro and Pound are some of the most prominent currencies, which are used across the globe. This currency comprises of the paper notes and coins, and it is issued and circulated by the government in power in the specific area. The pound is the official currency of the United Kingdom and its crown dependencies. On the other hand, Quid is the slang or the informal word used in place of the Pound, like the word bucks are used as slang for the currency, Dollar.
What is Pound?
The Pound is the official currency of the United Kingdom, and other of the area demonstrated under it. When one refers to the pound in the United Kingdom, he/she means Pound Sterling and The Great Britain Pound, which are the official names of this currency practice in the area. In other words, we can say that pound sterling is the currency of the United Kingdom, although there are many countries nationwide have a pound in use, that is not the pound sterling. It will be pertinent to mention, here that most prominently, there are four types of pounds, which are usage in different parts of the world. Egyptian Pound, South Sudanese Pound, Lebanese Pound are the other prominent types of pound except for the Pound Sterling or the Great Britain Pound (GBP). The Pound Sterling, which is referred as only Pound or Sterling in the UK area is one of the most traded currencies across the globe. According to the latest reports, the GBP is the 4th most traded currency after the U.S. Dollar, Euro, and the Japanese Yen. Other than names like GBP and Sterling for the Pound Sterling, this currency is often referred as the British Pound. The named Sterling attached to this currency name differentiates it from the other types of pound currencies in practice across the globe.
What is Quid?
The term Quid is the slang or the informal term used for the Pound. It should be made clear here that, the term Quid can refer to any the pounds, but most primarily it is used for the Pound Sterling as this word is said to be of the British origin. Many people think that Quid is some the currency practice in the different area of the world, but this concept is entirely wrong as it is a slang word used for the Pound. One might have heard words like bucks and moolah; these words are the slang or the informal terms used for the Dollars and money respectively. The grand is another famous slang term that denotes the currency power of the hundred U.S. Dollars. There are several stories revolving around about the coining of word ‘quid,’ although the most reliable story out of it tells that it is derived from the Royal Mint based in Quidhampton. The other famous concept tells that, the term quid is derived from the Latin word ‘quid pro quo,’ which means ‘something for something.’
Pound vs. Quid
- The Pound Sterling is the official currency of the United Kingdom and its crown dependencies. On the other hand, Quid is the slang or the informal word used for the Pound.
- The Pound is derived from the Latin word ‘Libra,’ which means the currency of the ancient Rome. On the other hand, the term quid is derived from the Latin word ‘quid pro quo,’ which means ‘something for something.’
- Other than names like GBP and Sterling for the Pound Sterling, this currency is often referred as the British Pound. Contrary to this, Quid itself is the other name of the Pound.
- Quid is the slang or the informal word used in place of the Pound, like the word bucks are used as slang for the currency, Dollar.