This assumption is based on the hypothesis that Middle-Earth's Currency or Money-system is based on the real world currency of medieval and late roman Britain: * Fourpenny (Silver) and similar coins (Kreuzer, Groten, Witten, Stüber etc.) = 4 pence * 1 Denarius (Silver) = 1 penny (Silver) = 4 farthings or Sestertii (Bronze/Brass) * 1 Sestertius = 4 Asses (Bronze/Copper) * 1 As = 4 Quadrans ( Copper "Quarters") * carolingian pound (silver) = 240 Denarii or Pence * 1 pound = 20 shillings * 1 mark = 13s 4d * 1 Ducat = nine shillings and four pence * 1 crown = 5 shillings * 1 shilling = 12 pence * 1 Heller (copper coin) = 2 Pence