"For the former of these there are various conjectures, and
nothing of certainty.

"_Spelman_ supposeth it to take that denomination from the
Esterlings, who, as he supposeth, came over and reformed our
coin to that allay. Of this opinion was _Camden. A Germanis,
quos Angli_ Esterlings, _aborientali situ, vocarunt, facta est
appellatio; quos_ Johannes _Rex, ad argentum in suam puritatem
redigendam, primus evocavit; et ejus modi nummi_ Esterlingi, _in
antiquis scripturis semper reperiuntur_. Some suppose that it
might be taken up from the _Starre Judæorum_, who, being the
great brokers for money, accepted and allowed money of that
allay for current payment of their stars or obligations; others
from the impression of a starling, or an asterisk upon the coin.
_Pur ceo que le form d'un Stare, dont le diminutive est
Sterling, fuit impressit on stamp sur ceo. Auters pur ceo que le
primer de cest Standard fuit coyn en le Castle de Sterlin in_
Scotland _pur le Roy_ Edw. I. And possibly as the proper name of
the fourth part of a Peny was called a Farthing, ordinarily a
Ferling; so in truth the proper name of a Peny in those times
was called a Sterling, without any other reason of it than the
use of the times and arbitrary imposition, as other names
usually grow. For the old Act of 51 H. III., called _Compositio
Mensurarum_, tells us that _Denarius Anglice Sterlingus
dicitur_; and because this was the root of the measure,
especially of Silver Coin, therefore all our Coin of the same
allay was also called Sterling, as five Shillings Sterling, five
Pounds Sterling.