Throughout Western Europe during the medieval period, the mark typically signified either a gold or silver coin that weighed 8 ounces.
In English currency, there appear to be two types of marks used during the medieval period. The silver mark, equivalent to 80 silver pennies (a noble), and the gold mark, equivalent to 720 silver pennies (three pounds).
The silver penny was the common minted coin of the time, and its value can be seen in the recorded pay of a cook in the royal household of three halfpennies per day. This was obviously a very good rate of pay befitting a privileged position. A common workman in the field or towns would have received far less for his labours.