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The answer depends on how many pennies on the first square. Assuming that was 1, then the total amount is exactly 2^65 - 1 pennies which is 184,467,447,037,095,516.15 Pounds (approx 184.5 quadrillion pounds).
100 pennies
If 100 Pennies = $1 Dollar then $1 million ($1,000,000) dollars = 100,000,000 Pennies
1 dollar = 100 pennies 100,000,000 pennies x (1 dollar/100 pennies) = 1,000,000 dollars
100 pennies = £1£3500 = 3500 * 100 = 350,000 pennies