An introductory pack of the new currency.

On 15 February 1971, variously known as Decimal Day, Decimalisation Day and D-Day, the United Kingdom and the Republic of Ireland decimalised their currencies. Image File history File links Download high-resolution version (1000x742, 150 KB)   This work is protected by British Crown copyright. ... Image File history File links Download high-resolution version (1000x742, 150 KB)   This work is protected by British Crown copyright. ... is the 46th day of the year in the Gregorian calendar. ... Year 1971 (MCMLXXI) was a common year starting on Friday (link will display full calendar) of the 1971 Gregorian calendar. ... For the system of library classification, see Dewey Decimal Classification. ...

The old system

The United Kingdom and Ireland had separate currencies — Pound sterling and Irish pound (also known as Irish punt) respectively — but they were at the time tied to each other at a fixed 1:1 exchange rate as per the Bretton Woods system. Under the old currency of pounds, shillings, and pence, the pound was made up of 240 "old pence" (denoted by the symbol d), with twelve old pence in a shilling and 20 shillings (denoted by the symbol s) in a pound. Especially in an era before widespread computer use, monetary calculations, such as adding up sums of money, could be complicated. Tourists were also confused by coins such as the 'half-crown' (worth two shillings and sixpence, commonly written 2/6d, equal to 2½ shillings or one eighth of a pound). The loss of value of the currency meant that the penny, physically larger than the U.S. half dollar, was of relatively slight value (the farthing, worth one-quarter of an old penny, had been demonetised in 1960). At $2.80 to the pound (the rate in the early 1960s), the large coins were worth about one cent each. “GBP” redirects here. ... ISO 4217 Code IEP User(s) Ireland ERM Since 13 March 1979 Fixed rate since 31 December 1998 Replaced by €, non cash 1 January 1999 Replaced by €, cash 1 January 2002 € = £0. ... The Irish pound (Irish: punt) was the currency unit of the Republic of Ireland until 1999. ... Wikipedia does not have an article with this exact name. ... “GBP” redirects here. ... This article is about coinage. ... For the NBA basketball player with the nickname see Penny Hardaway A variety of low value coins, including an Irish 2p piece and many U.S. pennies. ... This article is about the machine. ... Half-Crown coin of Oliver Cromwell, 1658 The half-crown was a denomination of British money worth two shillings and sixpence, being one-eighth of a pound. ... For silver pennies produced after 1820 see Maundy money. ... The Half Dollar of the United States has been produced nearly every year since the inception of the United States Mint in 1794. ... Wren design Farthing from 1948 A farthing (meaning fourth part) was a British coin worth one quarter of a penny. ... Year 1960 (MCMLX) was a leap year starting on Friday (link will display full calendar) of the Gregorian calendar. ...

For further details of the currency before decimalisation, see British pre-decimal system and Irish pre-decimal system. This article concerns British coinage, the coinage of the United Kingdom. ... ISO 4217 Code IEP User(s) Ireland ERM Since 13 March 1979 Fixed rate since 31 December 1998 Replaced by €, non cash 1 January 1999 Replaced by €, cash 1 January 2002 € = £0. ...

Background to the UK changeover

Following the rejection by parliament of Lord Wrottesley's proposals to decimalise Sterling in 1824 (which were prompted by the introduction in 1795 of the decimal French Franc), little practical progress towards decimalisation was made for over a century, with the exception of the two-shilling silver florin (worth 1/10 of a pound) first issued in 1849. A double florin or four-shilling piece was a further step in that direction, but failed to gain acceptance and was only struck from 1887 to 1890. A parliament is a legislature, especially in those countries whose system of government is based on the Westminster system modelled after that of the United Kingdom. ... John Wrottesley, 1st Baron Wrottesley (4 October 1771 – 16 March 1841), known as Sir John Wrottesley, 9th Baronet, from 1787 to 1838, was a British soldier and Member of Parliament. ... Sterling may refer to: Sterling (car), a British automobile manufacturer. ... 1824 was a leap year starting on Thursday (see link for calendar). ... 1795 was a common year starting on Thursday (see link for calendar). ... ISO 4217 Code FRF User(s) Monaco, Andorra, France except New Caledonia, French Polynesia, and Wallis and Futuna ERM Since 13 March 1979 Fixed rate since 31 December 1998 Replaced by €, non cash 1 January 1999 Replaced by €, cash 1 January 2002 € = 6. ... For the system of library classification, see Dewey Decimal Classification. ... The nineteenth and twentieth century Florin or Two Shillings coin should not be confused with the medieval gold Florin, which was worth six shillings. ... Pound may refer to Look up pound in Wiktionary, the free dictionary. ... 1849 was a common year starting on Monday (see link for calendar). ... The Double Florin (4/-) was one of the shortest-lived British coin denominations ever, only being produced between 1887 and 1890. ... 1887 (MDCCCLXXXVII) is a common year starting on Saturday (click on link for calendar) of the Gregorian calendar or a common year starting on Monday of the Julian calendar. ... Year 1890 (MDCCCXC) was a common year starting on Wednesday (link will display the full calendar) of the Gregorian calendar (or a common year starting on Monday of the Julian calendar). ...

The Decimal Association was founded in 1841 to promote decimalisation and metrication, causes that were both boosted by a realisation of the importance of international trade following the 1851 Great Exhibition. It was as a result of the growing interest in decimalisation that the florin was issued. 1841 is a common year starting on Friday (link will take you to calendar). ... Metrication or metrification refers to the introduction of the SI metric system as the international standard for physical measurements—a long-term series of independent and systematic conversions from the various separate local systems of weights and measures. ... 1851 (MDCCCLI) was a common year starting on Wednesday (see link for calendar) of the Gregorian calendar (or a common year starting on Friday of the 12-day-slower Julian calendar). ... The Great Exhibition: Paxtons Crystal Palace enclosed full-grown trees in Hyde Park. ...

In their preliminary report, the Royal Commission on Decimal Coinage (1856–1857) considered the benefits and problems of decimalisation, but did not draw any conclusion about the adoption of any such scheme [1]. A final report in 1859 from the two remaining commissioners, Lord Overstone and Governor of the Bank of England John Hubbard came out against the idea, claiming it had "few merits" [2]. In states that are Commonwealth Realms a Royal Commission is a major government public inquiry into an issue. ... Year 1859 (MDCCCLIX) was a common year starting on Saturday (link will display the full calendar) of the Gregorian calendar (or a common year starting on Thursday of the 12-day slower Julian calendar). ... Samuel Jones-Loyd, Baron Overstone (25 September 1796 –1883), In 1850 he received a peerage as Baron Overstone of Overstone and Fotheringhay. ... Headquarters Coordinates , , Governor Mervyn King Central Bank of United Kingdom Currency Pound Sterling ISO 4217 Code GBP Base borrowing rate 5. ...

In 1862, the Select Committee on Weights and Measures favoured the introduction of decimalisation to accompany the introduction of metric weights and measures [3]. This article is about 1862 . ... A Select Committee is a committee made up of a small number of parliamentary members appointed to deal with particular areas or issues originating in the Westminster System of parliamentary democracy. ... Weights and measures is a term used by legal authorities in English speaking countries such as the United Kingdom for a function related to units of measurement in trade. ...

The decimalisation movement even entered fiction. In Anthony Trollope's Palliser novels (and more so in the television series based on them), Plantagenet Palliser is a passionate advocate of decimalisation, a cause the other characters seem to find intensely boring. Palliser's scheme would have divided the shilling into ten (presumably revalued) pennies. This would have changed the threepence into 2.5 new pence, the sixpence into fivepence, and the half crown into a two shilling, five pence piece. It would also have required the withdrawal and reissuance of the existing copper coinage. It is never made clear if Palliser is able to implement this scheme. Anthony Trollope (April 24, 1815 – December 6, 1882) became one of the most successful, prolific and respected English novelists of the Victorian era. ... The Palliser novels are six novels by Anthony Trollope. ... Plantagenet Palliser is the main character in the Palliser series of novels by Anthony Trollope. ... This article is about coinage. ... Above: A variety of coins considered to be lower-value, including an Irish 2p piece and many US pennies. ... The threepence, pronounced thruppence (or thre-pence in the north), was a denomination of currency, used by various jurisdictions in England, Ireland, Scotland and Wales, until decimalisation of the pound sterling and Irish pound. ... Above: A variety of coins considered to be lower-value, including an Irish 2p piece and many US pennies. ... The scilling or scylling (which possibly comes from the Teutonic root skil meaning to divide) was used in Anglo-Saxon times as money of account, even though no coins of that denomination existed. ... Half-Crown coin of Oliver Cromwell, 1658 The half-crown was a denomination of British money worth two shillings and sixpence, being one-eighth of a pound. ...

The Royal Commission on Decimal Coinage (1918–1920), chaired by Lord Emmott, reported in 1920 that the only feasible scheme was to divide the pound into 1000 mills (the pound and mill system), first proposed in 1824, but that this would be too inconvenient. A minority of four members disagreed, saying that the disruption would be worthwhile. A further three members recommended that the Pound should be replaced by the Royal, consisting of 100 halfpennies (i.e. there would be 4.8 Royals to the former Pound) [4]. Alfred Emmott, 1st Baron Emmott GCMG GBE PC (1858 - 13 December 1926) was a British Liberal politician. ... 1920 (MCMXX) was a leap year starting on Thursday. ... The term mill, depending on context, can refer to: Mill (factory) – a place of business for making articles of manufacture; e. ... The mill or mille(â‚¥) (sometimes mil in the UK) is an abstract unit of currency. ... 1824 was a leap year starting on Thursday (see link for calendar). ... It was long considered that the first halfpenny coins were produced in the reign of King Edward I (1272-1307), with earlier requirements for small change being provided by cut coinage i. ...

Finally, in 1960, a report prepared jointly by the British Association for the Advancement of Science and the Association of British Chambers of Commerce, followed by the success of decimalisation in South Africa, prompted the Government to set up the Committee of the Inquiry on Decimal Currency (Halsbury Committee) in 1961, which reported in 1963. The adoption of the changes suggested in the report was announced on 1 March 1966. The Decimal Currency Board (DCB) was created to manage the transition, although the plans were not approved by Parliament until the Decimal Currency Act in July 1967. Former Greater London Council leader Bill Fiske was named as the Chairman of the Decimal Currency Board. Year 1960 (MCMLX) was a leap year starting on Friday (link will display full calendar) of the Gregorian calendar. ... The British Association or the British Association for the Advancement of Science or the BA is a learned society with the object of promoting science, directing general attention to scientific matters, and facilitating intercourse between scientific workers. ... Year 1961 (MCMLXI) was a common year starting on Sunday (link will display full calendar) of the Gregorian calendar. ... Year 1963 (MCMLXIII) was a common year starting on Tuesday (link will display full calendar) of the Gregorian calendar. ... is the 60th day of the year (61st in leap years) in the Gregorian calendar. ... Year 1966 (MCMLXVI) was a common year starting on Saturday (link will display full calendar) of the 1966 Gregorian calendar. ... Type Bicameral Houses House of Commons House of Lords Speaker of the House of Commons The Right Honourable Michael Martin MP Lord Speaker Hélène Hayman, Baroness Hayman, PC Members 1377 (646 Commons, 731 Peers) Political groups (as of May 5, 2005 elections) Labour Party Conservative Party Liberal Democrats... Year 1967 (MCMLXVII) was a common year starting on Sunday (link will display full calendar) of the 1967 Gregorian calendar. ... Arms of the Greater London Council The Greater London Council (GLC) was the top-tier local government administrative body for Greater London from 1965 to 1986. ... William Geoffrey Fiske, Baron Fiske (July 3, 1905 _ January 13, 1975), commonly known as Bill Fiske, was the first Leader of the Greater London Council and oversaw the decimalisation of the Pound Sterling as Chairman of the Decimal Currency Board. ...

Consideration was given to having a new "decimal pound" worth ten shillings in the old currency which would have resulted in the "decimal penny" being worth only slightly more than the old penny (this approach was adopted, for example, when Australia and New Zealand decimalised in the 1960s, adopting respectively the Australian dollar and New Zealand dollar equal in value to 10s). In the event, it was decided by Halsbury that the pound sterling's importance as a reserve currency meant that the pound should remain unchanged. This article is about coinage. ... ISO 4217 Code AUD User(s) Australia, Kiribati, Nauru, Tuvalu, Christmas Island, Cocos (Keeling) Islands, and Norfolk Island Inflation 2. ... ISO 4217 Code NZD User(s) New Zealand, Cook Islands, Niue, Pitcairn Islands, Tokelau Inflation 2. ... “GBP” redirects here. ... A reserve currency (or anchor currency) is a currency which is held in significant quantities by many governments and institutions as part of their foreign exchange reserves. ...

One old British penny

One new British penny

One new Irish penny

1964 British 1d coin, from World Coin Gallery File history Legend: (cur) = this is the current file, (del) = delete this old version, (rev) = revert to this old version. ... 1964 British 1d coin, from World Coin Gallery File history Legend: (cur) = this is the current file, (del) = delete this old version, (rev) = revert to this old version. ... The Twentieth Century Penny (1901–1970) The penny of King Edward VII (1901–1910) is of the same technical standards as the late Victorian issues. ... 1980 British coin 1p, from World Coin Gallery File history Legend: (cur) = this is the current file, (del) = delete this old version, (rev) = revert to this old version. ... 1980 British coin 1p, from World Coin Gallery File history Legend: (cur) = this is the current file, (del) = delete this old version, (rev) = revert to this old version. ... The British decimal Penny (1p) coin was issued on 15 February 1971, the day the British currency was decimalised; see Decimal Day. ... 1980 Irish coin 1p, from World Coin Gallery File history Legend: (cur) = this is the current file, (del) = delete this old version, (rev) = revert to this old version. ... 1980 Irish coin 1p, from World Coin Gallery File history Legend: (cur) = this is the current file, (del) = delete this old version, (rev) = revert to this old version. ... ISO 4217 Code IEP User(s) Ireland ERM Since 13 March 1979 Fixed rate since 31 December 1998 Replaced by €, non cash 1 January 1999 Replaced by €, cash 1 January 2002 € = £0. ...

Preparation for the UK changeover

Under the new system, the pound was retained but was now divided into 100 "new pence", denoted by the symbol p. New, different coinage was issued alongside the old coins. 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. Small booklets (see illustration above) were made available containing some or all of the new denominations. The British decimal Five Pence (5p) coin was issued in 1968 in preparation for the forthcoming decimalisation of the coinage. ... The British decimal Ten Pence (10p) coin was issued in 1968 in preparation for the forthcoming decimalisation of the coinage. ... The British decimal fifty pence (50p) coin – often pronounced fifty pee – was issued on October 14, 1969 in the run-up to decimalisation to replace the ten shilling note. ...

The old denominations were not struck for circulation after 1967. However, a collector's set, with one each of the seven denominations of the old system which until recently had been struck, from the halfpenny to the half crown, was issued dated 1970.

The old halfpenny and half-crown (2s 6d) were withdrawn from circulation in 1969 to ease the transition. (The farthing had last been minted in 1956 and ceased to be legal tender in 1960.) British halfpenny, 1957 It was long considered that the first halfpenny coins were produced in the reign of King Edward I (1272–1307), with earlier requirements for small change being provided by cut coinage; that is, pennies cut into halves or quarters, usually along the cross which formed a prominent... Half-Crown coin of Oliver Cromwell, 1658 The half-crown was a denomination of British money worth two shillings and sixpence, being one-eighth of a pound. ... Wren design Farthing from 1948 A farthing (meaning fourth part) was a British coin worth one quarter of a penny. ...

A massive publicity campaign was run in the weeks before decimalisation day, including a song by Max Bygraves called "Decimalisation". The BBC broadcast a series of five-minute programmes to which The Scaffold contributed some specially written tunes. Banks were closed from 3:30pm on Wednesday, 10 February 1971 until 10:00am on Monday 15 February, enabling them to stock up with the new coins. February had been chosen for D-Day because it was the quietest time of the year for the banks, shops and transport organisations. Shops priced goods in both currencies. Max Bygraves - CD cover Max Bygraves OBE (born 16 October 1922 in Rotherhithe, London as Walter William Bygraves) is an English singer songwriter, famous for his waving hands. ... The Scaffold were a trio from Liverpool, England consisting of Mike McGear (Michael McCartney, brother of Paul), Roger McGough and John Gorman. ... is the 41st day of the year in the Gregorian calendar. ... Year 1971 (MCMLXXI) was a common year starting on Friday (link will display full calendar) of the 1971 Gregorian calendar. ... is the 46th day of the year in the Gregorian calendar. ...

After Decimalisation Day in the UK

The three new coins (½p, 1p and 2p) were introduced on 15 February 1971. After that day the remaining old coins remained legal tender at their old value for a time, but the penny (1d) and threepenny (3d) coins were quickly removed from circulation and could only be exchanged at banks. The British decimal half penny (½p) – (pronounced as HAYP-nee, IPA: ) and also written halfpenny or hapenny – was first issued on 15 February 1971, the day the British currency was decimalised. ... For the pre-decimal British one penny coin, see British One Penny coin (pre-decimal). ... 1971 coin featuring portrait by Arnold Machin 1997 coin featuring portrait by Raphael Maklouf 2000 coin featuring portrait by Ian Rank-Broadley The British decimal Two Pence (2p) coin was issued by the Royal Mint on 15 February 1971, the day the British currency was decimalised. ... is the 46th day of the year in the Gregorian calendar. ... Year 1971 (MCMLXXI) was a common year starting on Friday (link will display full calendar) of the 1971 Gregorian calendar. ... For silver pennies produced after 1820 see Maundy money. ... 1953 threepence The threepence, pronounced thruppence, was a denomination of currency, used by various jurisdictions in England, Ireland, Scotland and Wales, until decimalisation of the pound sterling and Irish pound. ...

The government hoped that in speech the new units would be called "new pence", but many decided that it was clearer and quicker to call the new coins "pee". The words 'penny' and 'pence' are now less common in spoken British English; shortenings such as "tuppence" are rarely heard, and terms such as "tanner" (the silver sixpence) or "groat" (nominally four pence) which previously designated amounts of money, are now unknown. British English (BrE, BE, en-GB) is the broad term used to distinguish the forms of the English language used in the United Kingdom from forms used elsewhere in the Anglophone world. ... The scilling or scylling (which possibly comes from the Teutonic root skil meaning to divide) was used in Anglo-Saxon times as money of account, even though no coins of that denomination existed. ... Groat is the traditional name of an English silver coin worth four English pennies, and also a Scottish coin originally worth fourpence, with later issues being valued at eightpence and a shilling. ...

A "Decimal Adder"

The changeover was expected to take several months, but shopkeepers found that they could not accommodate both the old and new coins in their tills. Instead they quickly withdrew most of the old coins from circulation, and lodged them in the bank, so the new system was largely effective within a matter of weeks. Image File history File linksMetadata Decimal_adder. ... Image File history File linksMetadata Decimal_adder. ...

The public information campaign that had run over the preceding two years helped, as did the trick of getting a rough conversion of new pence into old shillings and pence by the simple process of doubling the number of new pence and placing a solidus, or slash, between the digits: 17p multiplied by 2 = 34, which is approximately equal to 3/4 ("three and four", or three shillings and four pence). The willingness of a young population to embrace the change also helped. In general, elderly people had more difficulty adapting and the phrase "How much is that in old money?" became associated with those who struggled with the change to other new systems, such as the metric system, which were adopted later. A solidus, oblique or slash, /, is a punctuation mark. ... The International System of Units (symbol: SI) (for the French phrase Syst me International dUnit s) is the most widely used system of units. ...

Around the time of Decimal Day, "Decimal Adders" and other converters were available to help people convert between the old and new coins. The following is a table showing conversions between the decimal and pre-decimal systems.

The fate of the old coins in the UK

Shillings and florins, together with their same-sized 5p and 10p coin equivalents, co-existed in circulation as valid currency until the 1990s. In theory this included coins dating back to 1816; in practice the oldest were dated 1947 when these values stopped containing silver. The coins were withdrawn when smaller 5p and 10p coins were introduced in 1990 and 1992 respectively. This article is about coinage. ... The nineteenth and twentieth century Florin or Two Shillings coin should not be confused with the medieval gold Florin, which was worth six shillings. ...

Public outcry at the proposed demise of the old sixpence (6d), worth exactly 2½p and originally slated for early withdrawal, postponed its withdrawal until 1980. Obverses of the 1787 and 1818 sixpence depicting George III. The sixpence, known colloquially as the tanner, was a British pre-decimal coin, worth, as the name indicates, six pence. ...

All pre-decimal coins (other than coins such as sovereigns which did not circulate anyway due to precious metal content) are now invalid. Three Gold Sovereigns with a Krugerrand A Gold Sovereign is a gold coin first issued in 1489 for Henry VII of England and still in production as of 2007. ...

The decimal halfpenny (½p), introduced in 1971, remained in circulation until 1984, by which time its value had been greatly reduced by inflation. It was not struck, except for collectors' sets, after 1982. The British decimal half penny (½p) – (pronounced as HAYP-nee, IPA: ) and also written halfpenny or hapenny – was first issued on 15 February 1971, the day the British currency was decimalised. ...

The 50p piece was reduced in size in 1997.

The face value of Maundy money coins was maintained, effectively increasing all their values by a factor of 2.4, as the coins continued to be legal tender as new pence. The silver content of each coin, though, greatly exceeds face value. Maundy Money is a special British coinage given to deserving poor people in a religious ceremony performed by Anglicans on Maundy Thursday, the Thursday before Easter. ... Legal tender or forced tender is payment that cannot be refused in settlement of a debt denominated in the same currency by virtue of law. ...

In 1982, the word "New" in "New Penny" or "New Pence" was removed from the inscriptions on British coins, to be replaced by the number of pence in the denomination (i.e. "Ten Pence" or "Fifty Pence"). This coincided with the introduction of a new 20p coin, which, from the introduction, would simply bear the legend "Twenty Pence".

In Ireland

In Ireland, all pre-decimal coins, except the 1s, 2s and 10s coins, were called in during the initial process between 1969 to 1972; the ten shilling coin, which, as recently issued and in any event equivalent to 50p, was permitted to remain outstanding (though due to silver content, the coin did not circulate). The 1s and 2s were recalled in 1993 and 1994 respectively. Pre-decimal Irish coins may still be redeemed at their face value equivalent in euro at the Central Bank in Dublin. The Irish ten shilling coin featured Cúchulainn, the mythical Irish hero, the coin was produced for the 50th anniversary of the Easter Rising and commenced circulation on April 12 1966 and was designed by T Hugh Paget. ... For other uses, see Euro (disambiguation). ... Dublin city centre at night WGS-84 (GPS) Coordinates: , Statistics Province: Leinster County: Dáil Éireann: Dublin Central, Dublin North Central, Dublin North East, Dublin North West, Dublin South Central, Dublin South East European Parliament: Dublin Dialling Code: +353 1 Postal District(s): D1-24, D6W Area: 114. ...

See also

• Decimalisation
• British coinage
• British banknotes
• Irish coinage
• UK topics
• Metrication
• Introduction of the euro

For the system of library classification, see Dewey Decimal Classification. ... This article concerns British coinage, the coinage of the United Kingdom. ... British banknotes are the banknotes of the United Kingdom and British Islands, denominated in pounds sterling (GBP). ... This version of the harp, on a 1990 Irish pound, has been on Irish coinage circulated from 1939 until 2000. ... This is a list of topics related to the United Kingdom. ... Metrication or metrification refers to the introduction of the SI metric system as the international standard for physical measurements—a long-term series of independent and systematic conversions from the various separate local systems of weights and measures. ... The introduction of the euro took place principally between 31 December 1998, when the exchange rates between the euro and legacy currencies in the Eurozone became fixed, and early 2002, when euro notes and coins were introduced and the legacy currencies withdrawn. ...

External links

• Decimal Currency — The System a public information film produced to educate the public about the new system
• Committee of the Inquiry on Decimal Currency: report
• D Day delivers new UK currency (BBC News, On this Day, 15 February 1971)
• Britain to go decimal in 1971 (BBC News, On this Day, 1 March 1966)
• Decimalisation (Royal Mint)