Casinos supporting UK Pound Sterling Currency
The British pound, also known as the pound sterling, is the oldest currency in use today that has been in continual use since its inception. While originally a commodity currency, meaning that it was made of precious metals, it is currently a fiat currency, which means that its value is determined by the economy where it is used.
For a long time during the Baroque period, Britain had a serious problem with counterfeiting. Part of the issues was that the very coinage that was being created provided counterfeiters with the materials they needed to create forgeries. The gold from a single pound sterling could be mixed with baser metals to create the appearance of a legitimate coin, but be made largely of worthless material. Further, "clipping" was also used frequently, which meant that the edges of coins were clipped off and the metal melted down to make new coins.
At one point the problem had become so bad that Sir Isaac Newton was hired to run the mint where he designed new coinage that would be significantly harder to clip or replicate the stamp.
Despite these old problems, today the British pound is considered one of the most stable currencies in the world and outpaces many currencies for value by a significant amount.