How Great Britain Transitioned to Decimalized Money
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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.
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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.
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!
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.
The Mysterious Egyptian Magic Coin
Coins in Movies
Coins on Television
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.
Ireland put out a neat explanatory
folder.
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.
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?
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
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.
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.