The original British first edition of The Hobbit cost 7s 6d. This was the pre-decimal British format of seven shillings and sixpence, written on the book's original dust jacket as “7s. 6d. net.”
George Allen & Unwin published the first edition on 21 September 1937. Its initial print run was only 1,500 copies, but enthusiastic reviews helped the book sell out by December. A second impression followed quickly, making genuine first-edition copies especially important to collectors.
The price notation can be confusing to modern readers. Before Britain's decimal currency, one shilling contained 12 pence, so 7s 6d equaled 90 old pence, or three-eighths of a pre-decimal pound. It does not mean seven pounds and six pence, and it is unrelated to the much higher prices commanded by collectible copies today.
The first edition also differed from later versions in some wording and illustrations. Tolkien revised parts of The Hobbit over time, especially after developing the deeper mythology and darker tone of The Lord of the Rings.