The pre-decimal penny (1d) was a coin worth 1/240 of a pound sterling, or one twelfth of a shilling. Its symbol was d, from the Roman denarius. It was a continuation of the earlier English penny, and in Scotland it had the same monetary value as one pre-1707 Scottish shilling. The penny was originally minted in silver, but from the late 18th century it was minted in copper, and then after 1860 in bronze. This version of the penny was made obsolete in 1971 by decimalisation, and was replaced by the decimal penny, worth 2.4 old pence.