Introduction
On 15th February 1971 a seven year old boy started the day full of excitement. The one thing on his mind was to go shopping for his mother. Decimal money had arrived and this young lad couldn't wait to try it out.
The seven year old boy was me, and now many years on I take a look at the old currency and the day that everything changed.
The seven year old boy was me, and now many years on I take a look at the old currency and the day that everything changed.
Old Money
The pre-decimal "Pound" was divided into 20 "Shillings", and the "Shilling" was divided into 12 "Pennies" (refered to as "Pence" when used in prices).
When writing prices each unit was usually separated with a forward slash;
£2 11s 5d
often;
£2/11/5
If there were no pence a dash would be used;
£2/11/-
And if there were no Pounds;
11/-
The notes and coins in circulation were;
£10 note
£5 note
£1 note
10/- note
2/6 coin (half a crown)
2/- coin
1/- coin
6d coin
3d coin
1d coin
halfpenny coin
5/- crowns were issued as commemorative coins, although they were legal tender it was not usual to see them in circulation.
When writing prices each unit was usually separated with a forward slash;
£2 11s 5d
often;
£2/11/5
If there were no pence a dash would be used;
£2/11/-
And if there were no Pounds;
11/-
The notes and coins in circulation were;
£10 note
£5 note
£1 note
10/- note
2/6 coin (half a crown)
2/- coin
1/- coin
6d coin
3d coin
1d coin
halfpenny coin
5/- crowns were issued as commemorative coins, although they were legal tender it was not usual to see them in circulation.
How decimalisation was acheived.
The first step towards decimalisation happened in Victorian times when the florin (2/- coin) was introduced. The half-crown was discontinued at that time but was later reintroduced.
In 1961 a commitee was formed to investigate and impliment decimal currency in Britain. The final decision was announced early in 1966.
In 1968 the first decimal coins came into circulation. The 5 new pence and 10 new pence coins were the same size and weight as the 1/- and 2/- coins. In 1969 the 50 new pence coin was introduced and replaced the 10/- note. (The 50 new pence coin was refered to as a 10 bob bit - slang for 10 shilling piece - long after decimalisation had been completed.)
Later in 1969 the predecimal halfpenny coin was withdrawn from circulation and 4 months later in January 1970 the half-crown was also withdrawn.
In the last year of predecimal Britain the following denominations were in use:
£10 note
£5 note
£1 note
50 new pence coin - circulating as 10/-
10 new pence coin and 2/- coins - circulating as 2/-
5 new pence coin and 1/- coins - circulating as 1/-
6d coins
3d coins
1d coins
On 15 February 1971 Britain went decimal. Only 2 coins needed to be withdrawn (3d and 1d) and 3 new coins were issued (2 new pence, 1 new penny, half new penny). However in practice the old 3d and 1d coins continued to circulated for a very short time.
From decimal day the following denominations were circulating;
£10 note
£5 note
£1 note
50 new pence coin
10 new pence coin and 2/- coins - circulating as 10 pence
5 new pence coin and 1/- coins - circulating as 5 pence
Pre-decimal 6d coin - circulating as 2.5 pence
2 new pence coin
1 new penny coin
half new penny coin
In 1961 a commitee was formed to investigate and impliment decimal currency in Britain. The final decision was announced early in 1966.
In 1968 the first decimal coins came into circulation. The 5 new pence and 10 new pence coins were the same size and weight as the 1/- and 2/- coins. In 1969 the 50 new pence coin was introduced and replaced the 10/- note. (The 50 new pence coin was refered to as a 10 bob bit - slang for 10 shilling piece - long after decimalisation had been completed.)
Later in 1969 the predecimal halfpenny coin was withdrawn from circulation and 4 months later in January 1970 the half-crown was also withdrawn.
In the last year of predecimal Britain the following denominations were in use:
£10 note
£5 note
£1 note
50 new pence coin - circulating as 10/-
10 new pence coin and 2/- coins - circulating as 2/-
5 new pence coin and 1/- coins - circulating as 1/-
6d coins
3d coins
1d coins
On 15 February 1971 Britain went decimal. Only 2 coins needed to be withdrawn (3d and 1d) and 3 new coins were issued (2 new pence, 1 new penny, half new penny). However in practice the old 3d and 1d coins continued to circulated for a very short time.
From decimal day the following denominations were circulating;
£10 note
£5 note
£1 note
50 new pence coin
10 new pence coin and 2/- coins - circulating as 10 pence
5 new pence coin and 1/- coins - circulating as 5 pence
Pre-decimal 6d coin - circulating as 2.5 pence
2 new pence coin
1 new penny coin
half new penny coin
Memories
If you remember the old money and the change to decimal please tell us about it.
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by PositiveChristian
I have far too many interests. I enjoy bicycles, playing music (piano and saxophone), collecting British stamps and coins, history and, most importan... (more)
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