Pence is a unit of currency used in several countries, most notably in the United Kingdom, where it is a subdivision of the pound sterling. One pound is equal to 100 pence. The symbol for pence is "p," and it is commonly used in everyday transactions, such as buying food or services. In the context of the United States, "pence" is not used as a currency term; instead, the U.S. uses cents, which are also a subdivision of the dollar. However, the term "pence" may still be encountered in discussions about British currency or in historical contexts.