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How Great Britain Transitioned to Decimalized Money

PCGS_SocialMediaPCGS_SocialMedia Posts: 311 mod
edited September 30, 2020 10:42AM in World & Ancient Coins Forum

After years of anticipation, Decimal Day arrived in Great Britain on February 15, 1971.

The Farthing, worth a quarter of a Penny, had already been discontinued in 1956 and demonetized in 1961 due to the unrelated issue of inflation. In 1968, the 5 and 10 Pence coins were introduced, while a 50 Pence coin came along in 1969. The bulk of the formal conversion process was wrapped up within seven months after Decimal Day, with the old Penny, shown here (1d) and Threepence (3d) coins being demonetized on August 31, 1971.

Read on: https://www.pcgs.com/news/decimal-day-1971-how-great-britain-transitioned-to-decimalized-money

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    JesseKraftJesseKraft Posts: 414 ✭✭✭✭✭

    It took some time for the elderly to transition. Here's one of many videos produced to help teach people: "Granny Gets the Point" (1971). Many of these videos were documentary-style, while this one is sitcom-style.

    https://www.youtube.com/watch?v=2rOzF3QpJcw

    Jesse C. Kraft, Ph.D.
    Resolute Americana Curator of American Numismatics
    American Numismatic Society
    New York City

    Member of the American Numismatic Association (ANA), British Numismatic Society (BNS), New York Numismatic Club (NYNC), Early American Copper (EAC), the Colonial Coin Collectors Club (C4), U.S. Mexican Numismatic Association (USMNA), Liberty Seated Collectors Club (LSCC), Token and Medal Society (TAMS), and life member of the Atlantic County Numismatic Society (ACNS).
    Become a member of the American Numismatic Society!

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    WillieBoyd2WillieBoyd2 Posts: 5,037 ✭✭✭✭✭
    edited September 30, 2020 8:36PM

    I visited England in August 1971 a few months after the decimalization of the pound.
    I do remember getting the old shillings and florins in change, some with King George VI on them.

    :)

    https://www.brianrxm.com
    The Mysterious Egyptian Magic Coin
    Coins in Movies
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    wybritwybrit Posts: 6,953 ✭✭✭

    I lived in the UK during decimalization. They had short videos called "Decimal 5" with jingles like "give more, get change" and "use your old coppers in sixpenny lots." Shillings (5p), Florins (10p) and even sixpences (2 1/2 p) coexisted with the new pence for quite some time. Halfcrowns (12 1/2 p) were removed very early on.

    Former owner, Cambridge Gate collection.
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    3stars3stars Posts: 2,282 ✭✭✭✭✭

    Ireland put out a neat explanatory
    folder.

    Previous transactions: Wondercoin, goldman86, dmarks, Type2
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    SaorAlbaSaorAlba Posts: 7,478 ✭✭✭✭✭

    @btcollects said:
    I think I remember shillings circulating as 5p and florins 10p in the mid-80s?

    The sixpence or tanner circulated as 2 1/2p until 1980 when it was demonetised. The bob or shilling and the florin circulated until 1990 and 1992 when the 5p and 10p coins were reduced in size and the older coins demonetised.

    Farthings occasionally still slip into circulation as a 1p coin - sizes very similar.

    In memory of my kitty Seryozha 14.2.1996 ~ 13.9.2016 and Shadow 3.4.2015 - 16.4.21
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    JBKJBK Posts: 14,756 ✭✭✭✭✭

    Here's some trivia...

    As I understand it, only the Churchill crown from the old days is still legal tender.

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    MrEurekaMrEureka Posts: 23,943 ✭✭✭✭✭

    @JBK said:
    Here's some trivia...

    As I understand it, only the Churchill crown from the old days is still legal tender.

    Very interesting! How did it manage that?

    Andy Lustig

    Doggedly collecting coins of the Central American Republic.

    Visit the Society of US Pattern Collectors at USPatterns.com.
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    coinkatcoinkat Posts: 22,777 ✭✭✭✭✭

    It might have something to do with the belief some hold that the appearance of the Churchill Crown progressively improves as it is worn through circulation. I am one that does not subscribe to this belief... Just offering this up as an explanation in response to your question.

    Experience the World through Numismatics...it's more than you can imagine.

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    JBKJBK Posts: 14,756 ✭✭✭✭✭
    edited October 3, 2020 3:20PM

    @MrEureka said:

    @JBK said:
    Here's some trivia...

    As I understand it, only the Churchill crown from the old days is still legal tender.

    Very interesting! How did it manage that?

    No idea. Just heard it. Maybe he was so revered they did it for nostalgia purposes?

    I'll dig around a bit to see if I can confirm.

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