£

From the first letter of Latin lībra (“pound”). The symbol is derived from the mediaeval tradition of placing a stroke over a letter or letters of a word (in this case L) to indicate an abbreviation; when letters have ascenders like L, the stroke frequently passes through that ascender. £ is thus cognate with the pound sign #, which was similarly derived from lb with a stroke through the ascenders.

£

1. pound sterling
2. various other currencies called pound or lira.
   • 2007, Dave Lee (jazz musician), Nothing Rhymes with Silver 2‎, page 78:

     Flanders was able to flog his piece of land, for which he had originally paid £4,000, to one of the largest gold-mining corporations for something like a couple of million smackers.

The practice of placing a stroke through the initial of the name for a currency as a symbol for that currency has been extended to other currency symbols, including several shown below.

• £sd (pounds, shillings and pence)
• £B (Bristol pound)
• ₤ (lira)

Currency signs

Formerly used currency signs