A slang term for the Englishcurrency of Sterling pounds. Americans have their "Benjamins" ($100 dollar bills/notes - derived from image of Benjamin Franklin on each one) so why not apply a universal term to English pounds? The term derives from Queen Elizabeth, as there is a depiction of her on every coin and note there is in the Englishcurrency. However, "Lizzies" solely refers to pounds (£s) and does not include pennys.
Yo honky, we gotstakeep on this paper chase and get dem Lizzies - my crib's crying out for a 42" plasma screen yo!