When was decimal currency introduced

A.On 15 February 1971 - known as D Day (for Decimal Day). The United Kingdom adopted a decimal currency system with 100 pence to the pound sterling. This replaced the pound, shilling and pence system. There were 20 shillings in each Pound and 12 pence in each shilling. Thanks to Votadinus for the question.

Q.240 pence- a strange number. Why < xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

A.The 240 pence was a legacy from Anglo-Saxon times when a Roman pound in weight of silver was divided into 240 silver pennies.

Q. The USA had been using a decimal system for ages. Why did it take the UK so long

A. The business community, in particular, was keen to go decimal but nobody could agree on what sort of decimal system. Controversy broke out between those who wanted to keep the pound as the main unit and those who wanted to replace it by a unit of half the value. This had been adopted by three countries still using pounds, shillings and pence: South Africa, Australia and New Zealand.

Q. Who sorted them out

A.The arguments were examined in detail by a Committee of Inquiry on Decimal Currency (1961-63), chaired by Lord Halsbury. It recommended a pound-based system.

Q.What were the new coins

A.Half pence, penny, two pence, five pence, 10 pence, 50 pence.

Q.And what old money vanished

A.Old halfpenny, penny, threepenny bit, half-crown, 10 shilling note.

Q. Any more

A. The shilling and two-shilling stayed for a while. The new 5p and 10p were the same value, size and shape, and were therefore interchangeable.

Q.And what's a half-crown

A.A youngster's dream, among other things. It was the object of desire given by generous uncles when visiting children. Big and heavy, about three times the size of today's 10p, it had real purchasing power. It was two shillings and sixpence, 12.5p in today's money, but you could have bought five Mars bars with it.

Q.If that was half-a-crown, were you ever given a crown

A. Yes, but only at a time of celebration. Crowns have really been only ceremonial and commemorative currency for centuries. They are still issued. The famous ones of my youth were for the coronation, Festival of Britain and the Churchill Crown of 1965.

Q. But you can't spend them

A. Oh yes, but it would be a silly thing to do. They are usually collectors' items and worth considerably more that face value. An exception is the Churchill crown, of which so many were issued that it's still worth only a bit more than five bob.

Q. Bob

A. Sorry. You caught me unawares then. Five shillings.

Q. Any other nicknames

A. A silver threepence was called a joey and sixpence was known as a tanner. Both names, according to my dictionary, are of unknown origin.

Q. So what's a groat

A. Four pence, a silver coin that was taken out of circulation in the 17th Century. And before you ask, no we didn't have them when I was a boy.

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