|Subdivision|| 1 Crown = 20 Shillings (S) = 5 Denarii (d)
1 Crown = 100 Bits (b)
|Exchange Rate to USD||1.00 : US$ 2.11|
|In use since||1761|
The Crown is the official currency of Praetonia. It is nominally administered by the Imperial Bank of Praetonia, a private company, under Royal Charter. The Crown is a free-floating currency that is highly valued by the world currency market, attaining a value of ~$2.00 accounting for fluctuations. Within Praetonia it is never referred to as the Praetonian Crown in general discourse (which would refer to the ceremonial office of the monarch), being referred to instead merely as the Crown.
The Crown was first established as a currency for the New Monarchy following the Second Civil War, replacing the anarchic collection of various Greco-Roman currencies which previously served as legal tender for Praetonia. The currency was originally based on a fiat system determined by the then government-control Imperial Bank of Praetonia, before switching to the gold standard in 1821. In 1972 the Praefeli was transferred to a free-floating foreign exchanged based valuation system and has remained so ever since. Paper money was first introduced in the early 19th century.
|1 d||Parliamentary Mace||Reigning Monarch|
|2 d||Ranmouth Bridge||Reigning Monarch|
|1 s||Horse Guards' Plumed Helmet||Reigning Monarch|
|2 s||Eagle||Reigning Monarch|
|5 s||Praetonian Field Cat||Reigning Monarch|
|10 s||Lion||Reigning Monarch|
|1||Scales of Justice||Reigning Monarch|
|2||Royal Seal||Reigning Monarch|
|5||Prow of the PWS Praefele||Reigning Monarch|
|1||Imperial College Uxbridge||Reigning Monarch & Parliament|
|5||Troop of Horse Guards||Reigning Monarch & Parliament|
|10||Lady Justice||Reigning Monarch & Parliament|
|20||Storming of the Palace, 1653||Reigning Monarch & Parliament|
|50||Soldier Standing with Fixed Bayonet||Reigning Monarch & Parliament|
|100||Cityscape of Kingston||Reigning Monarch & Parliament|
|200||Fleet Base at Haston Bank||Reigning Monarch & Parliament|
|500||Scenes from the Commonwealth||Reigning Monarch & Parliament|
|1,000||PWS Iron Duke||Reigning Monarch & Parliament|
The Bit System
The Bit system was introduced in 1927 as a means of simpliying foreign transfers of currency as well as simplifying stock exchange share price listings, which are historically listed in subdivisions rather than full units of currency. The Bit is rarely used in Praetonian general society, and retailers are not obligued to accept Bits as legal tender, although banks are and must agree to transfer Bits into their equivalent value in Crowns, Shillings and Denarii. They are, however, used almost solely in business circles and all kinds of transactions which involve interacting with foreign currencies, almost none of which operate a similar system to the Shilling-Denarii subdivisions.
The Imperial Bank still issues Gold Sovereigns which currently weigh precisely 1/2 of a Troy ounce and have a purity of 99.99%. These coins have no fixed value, that being defined entirely by the worth of the gold and in some cases the rarity value of the older coins. A new coin is issued each year, each with its own obverse motiff; all Gold Sovereigns have an engraving of the reigning Monarch on the reverse, along with the Royal motto encircling the edge of the coin. Sovereigns are popular with collectors and those who wish to use gold as an investment, but they have fallen out of general use as a currency as their precise value is ill defined, even to the Crown, and almost no businesses except for banks will accept them.