D
dysfunction
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Change to Decimal
The change was made gradually over three years, in a number of stages.
1. In 1968 new shillings and florins were issued as 5 new pence and 10 new pence coins. The older shillings and florins continued to circulate long after decimalisation until the size of the coins was reduced. Theoretically silver coins from 1816 could still have been found in change, but the active withdrawal of silver in the years following the change in 1947, followed by the combination of a dramatic rise in the price of silver with devaluation in 1967 meant that silver coins rapidly vanished from circulation.
2. Wallets containing the new 5p and 10p coins, along with 1/2p, 1p and 2p coins dated 1971 were put on sale.
3. In October 1969 the 50 new pence piece replaced the 10 shilling note.
4. The old halfpenny was demonetised on 1st August 1969.
5. The half-crown was demonetised on 1st January 1970.
6. The remaining decimal coins became legal tender on 15th February 1971. Maundy coins (and silver threepenny pieces of Maundy design, i.e. with a crowned three on the reverse) were revalued as three new pence at the same time.
The changeover was so rapid that the old penny and nickel brass threepence pieces had been removed from circulation by the end of 1971, although one shop in the Yorkshire Dales which continued to use the old currency for a long time on the basis that 'this new-fangled stuff will never catch on'.
The old penny and threepence coins ceased to be legal tender on 31st August 1971, just over six months after D-day.
The change was made gradually over three years, in a number of stages.
1. In 1968 new shillings and florins were issued as 5 new pence and 10 new pence coins. The older shillings and florins continued to circulate long after decimalisation until the size of the coins was reduced. Theoretically silver coins from 1816 could still have been found in change, but the active withdrawal of silver in the years following the change in 1947, followed by the combination of a dramatic rise in the price of silver with devaluation in 1967 meant that silver coins rapidly vanished from circulation.
2. Wallets containing the new 5p and 10p coins, along with 1/2p, 1p and 2p coins dated 1971 were put on sale.
3. In October 1969 the 50 new pence piece replaced the 10 shilling note.
4. The old halfpenny was demonetised on 1st August 1969.
5. The half-crown was demonetised on 1st January 1970.
6. The remaining decimal coins became legal tender on 15th February 1971. Maundy coins (and silver threepenny pieces of Maundy design, i.e. with a crowned three on the reverse) were revalued as three new pence at the same time.
The changeover was so rapid that the old penny and nickel brass threepence pieces had been removed from circulation by the end of 1971, although one shop in the Yorkshire Dales which continued to use the old currency for a long time on the basis that 'this new-fangled stuff will never catch on'.
The old penny and threepence coins ceased to be legal tender on 31st August 1971, just over six months after D-day.
