Decimal Currency
In 1966, plans were introduced in Britain for
conversion to decimal currency.
After five years of planning and with a public fearful
of the outcome, the changeover to decimal currency in Britain
eventually occurred on " D Day" (decimalisation day) - 15 February
1971. It was the beginning of the end for the faithful tanners, bobs
and half-crowns of the old system, which was phased out over the next
18 months.
Decimal conversion charts could not be avoided as out
went the Libra Solidus Denarius (LSD as the "old" money was known).
Instead of 20 shillings to the pound (240 old pennies to £1) there
were now 100 New Pence to the pound. The 5p and 10p coins were first
introduced in April 1968, and were the same size, composition and
value as the shillings and florins circulating alongside them. In
October 1969 the 50p coin was introduced and the old ten-shilling note
was withdrawn. This reduced the number of new coins that had to be
introduced on the day and meant that the public was already familiar
with three of the six new coins.
The Royal Mint devised a cunning method to prevent people hoarding
the last of the old money. All old denomination coins minted between
1967 and 1970 were actually dated 1967.
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