Decimal Coins of the UK - The Change to Decimal Coinage The Change to Decimal Coinage Pictures of Decimal Coins Decimalisation Day D-Day was February 15th 1971. On that day the United Kingdom changed from the centuries old tradition of using 12 pence to the shilling and 20 shillings to the pound to a new decimal 100 new pence to the pound. Options considered There had been much debate as to the best way of implementing the switch. Australia used a dollar valued at ten old shillings, making the new cent equal to 1.2 old pence, a small change in value. An alternative was to go to a pound-mil system, with a mil equal to 0.24 old pence, a latter-day successor to the farthing. Another was to keep the penny and have a new unit at 100 pence (eight shillings and fourpence). However, in the UK the pound was considered to be particularly important because of the UK's international trading status. In addition, having a new penny worth 2.4 old pence was less of a problem as inflation had made its purchasing power insignificant.

As a temporary measure a half new penny was introduced, but as will be seen this had a short life. There was even a pattern quarter penny made in aluminium, but this was not proceeded with. It was realised at the time that the decision was made that the life of the halfpenny would be very short, but it was felt necessary despite the considerable extra cost of having to mint the coin. Banks never accepted transactions involving an odd halfpenny. The Timetable for the Change The change was made gradually over three years, in a number of stages. 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.

Blue plastic wallets containing the new 5p and 10p coins dated 1968, along with 1/2p, 1p and 2p coins dated 1971 were put on sale. These wallets are still very common. In October 1969 the 50 new pence piece replaced the 10 shilling note, which ceased to be legal tender on 22nd November 1970. The old halfpenny was demonetised on 1st August 1969. The half-crown was demonetised on 1st January 1970. 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 being in 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 I know of 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. It is no longer possible to exchange them for current coins at a bank. Later Developments The sixpence , which was allowed to continue circulating at 2½ new pence, was eventually withdrawn at the end of June 1980. I am indebted to Brian Dominic for the following quote from John Glover's book "London's Underground": "The adoption of decimal currency on 15 February 1971 posed a few problems for London Transport, which had favoured the £ Sterling being halved in value and divided into 100 pence - what today might be termed a '50p pound'.

With their extensive use of coin operated machines, the Board took strong exception to the proposed introduction of ½p coins, the lack of any coin between 2p and 5p, and the lack of a close relationship of old values and coins with the new. It was all too difficult for them, and it was indeed at London Transport's behest that the 2½p (sixpence) was retained in the coinage for the time being." The term 'New Penny' was dropped in 1982 on the grounds that after ten years it was no longer 'new'. In that year a new denomination, the 20p coin was introduced. It has proved very popular, and is one of the most frequently encountered coins in change. The pound coin was first issued in 1983. Again, there was a little resistance to the change from note to coin, but cessation of production of the pound note rapidly overcame the objections and the coin is now very well established. The notes were demonetised on 11th March 1988. The half penny coin was last minted for circulation in 1983.

In 1984 the denomination was only issued in Mint and Proof Sets and in December 1984 the coin was demonetised, as inflation had rendered it an anachronism. In 1985 a new portrait came into use, designed by Raphael David Maklouf, although the portrait on the Maundy coins was unchanged. Commemorative two pound coins were first issued in 1986, but although legal tender they rarely circulated (some are appearing in change now that the bimetallic circulating coin has been introduced, but as they are about twice the weight of circulating coins, banks have difficulty handling them). Crown sized commemorative coins valued at 25 pence continued to be minted, but after the Royal Wedding issue of 1981 later 'crowns' were valued at five pounds . This is a source of confusion, but the way to be sure is to know that if they are five pound coins they have the value on them.

It was intended that a new two pound coin of the same diameter but thinner than the commemorative versions be introduced in November 1997, but due to technical problems (vending machines rejected them), the introduction was delayed until 1998. This new coin is bimetallic, being the first such coin to be issued in the UK since the tin farthings and halfpennies of the late 17th century. It is the subject of an urban legend, in that a rumour is going the rounds that those coins where the queen is wearing a necklace are rare. This is most definitely untrue, but hoarding of these coins means they not often found in change. In 1998 a further new obverse portrait was introduced, designed by Ian Rank-Broadley, which is still in use nearly ten years later. In 2008 a new set of reverse designs has been revealed, which, in the words of the Royal Mint, 'are a contemporary take on traditional heraldry reflecting the nation's rich history'.

These designs apply only to the denominations from 1 penny to 1 pound, and I have been told that both the old and the new reverse designs will be put into circulation dated 2008. Metal Change In 1992 the metal used for the one penny and two penny coins was changed from bronze to copper coated steel. The use of a pure copper coating means that the colour of mint coins is slightly different. Also, as the density of steel is less than bronze and the weight was unchanged, the newer coins are noticeably thicker than the older ones. The versions of these coins issued in the 1992 Mint and Proof sets are said to be bronze - only the circulation issue coins of that date were steel. In 1998 the 2p (and possibly the 1p) temporarily reverted to bronze because of technical problems at the Royal Mint. In 2011 the 5p and 10p coins will change to being made of plated steel as the lower denominations. Perhaps the 20p and 50p will follow, but the sharper corners of these seven-sided coins may mitigate against this.

Shrinkage As a result of inflation the coins based on the old system, the five pence and ten pence , were increasingly seen as oversized for their value. In 1990 a new smaller version of the 5p coin was introduced, and the old large ones along with the shillings that were still to be found were demonetised at the end of that year. The same technique was used for the 10p coin in 1992, with the old size 10p and florin being demonetised at the end of June 1993. Frustratingly, the new 10p is similar in size to the old large 5p, and very occasionally you get fooled! The next was the 50p coin , which was reduced in size in 1997. This also reduced the enormous stock of the larger coins held in banks due to a reduction in demand after the introduction of the pound coin. A similar problem with the pound coin now that the circulating two pound coin has come into use did occur only to the extent that new one pound coins were not issued for circulation dated 1998 and 1999.

A new series of 'normal' non-commemorative designs were released in 2008 for all except the two pound coin. As these were not announced until well into the year, coins up to one pound dated 2008 come in both the original 1968/1971 designs and the new 2008 design. The 2008 50p with Britannia reverse had a very low mintage - I have only seen one in circulation. Starting in 2009, an enormous variety of coins of various denominations are being issued in connection with the 2012 Olympics in London. The Future The penny and twopence coins have become ever more insignificant in value in everyday transactions. However, these two denominations comprise the largest bulk of new coins minted at the Royal Mint, no less than 71% in 1998-99. The reason for this is simple - they are hoarded because of their low value, with pockets and purses being emptied of these relatively heavy coins each day. Australia and New Zealand have both abandoned the 1 and 2 cent coins, with no significant effect on either trade or inflation.

Cash transactions are rounded to the nearest 5 cents, while credit card transactions and cheques can still be written for odd cents. How soon will the UK bow to the inevitable and demonetise the 'coppers'? Legal Tender The following applies to England and Wales: 20p and 50p coins are legal tender up to a total value of 10 pounds. 5p and 10p coins are legal tender up to a total value of 5 pounds. 1p and 2p coins are legal tender up to a total of 20 pence. Therefore you cannot insist on paying your Income Tax (or other unpopular bill) in 1p coins! While five pound coins and old monometallic thick two pound coins are technically legal tender, banks do not accept them. As a result you might find it difficult to find traders willing to accept them. I gather that Scotland does not have any legal restriction, other than that payment should be presented in a reasonable manner. Tendering a large sum in pennies might not be considered 'reasonable', but the boundary between reasonable and unreasonable is not defined!

Acknowledgements See my Coins Index page for acknowledgements CSV File of Values Download a CSV file of the values of decimal coins. Links BBC ON THIS DAY | 15 | 1971: D-Day delivers new UK currency 1971: D-Day delivers new UK currency The British Government has launched a new decimal currency across the country. The familiar pound (�), shilling (s) and pence (d) coins are to be phased out over the next 18 months in favour of a system dividing the pound into units of ten, including half, one, two, five, ten and 50 pence denominations. Chairman of the Decimal Currency Board (DCB) Lord Fiske told reporters: "The general picture is quite clear and the smooth and efficient changeover so many people have worked for is now in fact being achieved." But he expected it would take several months to adapt the five million machines affected by the new coinage. According to Chairman of the Joint Trade Committee of the London Cab Trade, John Welland, it will take 15 months to convert all the fare meters for London's 9,000 taxis.

Countdown to decimalisation Banks have been closed for the past two working days to prepare for the implementation of the new currency on what has become known as D Day. Some traders - such as luxury London department store Fortnum and Mason - have been well-prepared for the switch, with dual pricing on many items. But reporters noted some men have continued to spend their old pennies in the public lavatories in Piccadilly. Chairman of the British Bankers' Association decimalisation committee, Bernard Sharpe, made clear old coins would not last. "There is no case whatever for the retention of the sixpence in a decimal currency system, except for sentimentality for the 'dear old tanner'," he said. A few market-stall holders were concerned by the size of the new halfpenny, but Lord Fiske explained: "It is not unduly small by world standards. "It has an important role to play particularly in price-shading of low-priced goods." Work on the new system began in earnest in March 1966 when the Treasury made the practical and legislative preparations for setting up a Whitehall department a year later.

BBC ON THIS DAY | 23 | 1968: Decimal coins reach the high street About This Site | Text Only 1968: Decimal coins reach the high street The first decimal coins are making their way into purses throughout Britain, in preparation for replacing the current system of pounds, shillings and pence by 1971. The five new pence and ten new pence coins operate alongside the shilling and the florin, and will have the same value. They are also the same size and weight. They caused initial confusion to shoppers, many of whom refused to take them. There was further misunderstanding over the value of a penny. Many thought the five new penny coin was worth five old pence - when it is in fact worth a shilling, or 12 old pence. It looks pretty simple to me London newspaper seller Others, though, took the new money in their stride. "I suppose it will take a bit of getting used to," said one newspaper seller in the City of London, "but I don't think it will bother me at all.

I've seen the pictures in the papers and it looks pretty simple to me." But a fruit-seller was concerned that the two new coins were being brought in ahead of the full range of decimal currency. "People will get used to a tenpenny piece being worth 24 pence, and then they will have to change their ideas," he said. Special training Two of London's biggest stores have given special training to staff in the use of the new coins. One supermarket manager was optimistic about his customers' attitudes to the changeover. "I think they've more or less adjusted right away," he said. "I think, though, they tend to regard them as shilling and two-shilling pieces rather than five and ten pence at this time - I think this will take longer." He added that it would be another six months before price tags changed to reflect the new currency, warning of "absolute chaos" if the change happened overnight. About 15m 10p coins and 20m 5p coins will be issued to begin with - a small fraction of the number of shillings and florins in circulation.

Lord Fiske, chairman of the Decimal Currency Board, said the coins would be in the minority in tills and in change for a long time. Shoppers get first taste of decimal coins In Context The conversion to decimal currency continued gradually over the next three years. The 50p coin was next to be released, replacing the 10 shilling note in 1969. "Decimal Day" was 15 February 1971. The centuries-old tradition of using 12 pence to the shilling, and 20 shillings to the pound, was replaced by the new system of 100 new pence to the pound. The term "new penny" was dropped in 1982, on the grounds that the decimal pennies were not new any more. Britain is now facing another difficult decision over a wholesale change in currency: the transfer to the euro in place of pounds and pence. So far the government has held back, although 12 other European countries adopted the currency on 1 January 2002. Stories From 23 Apr Coins of the UK About the Author.

Introduction This is a series of pages dealing with the history of individual denominations used in England since the Norman Conquest or, in the case of the penny, a little earlier. Every effort is made to ensure the accuracy of the information provided, and extensive research has been carried out to this end. However, I will not and cannot accept liability for the consequences of any decisions made by readers of this site. Please note that the copyright on these web pages remains with the author. Please do not post copies of pages found on this web site elsewhere on the web without specific authorisation from the author, as the frequent updates would render the copies obsolete very quickly. However, please feel free to post links to the site if you think it is appropriate. If you wish to download these web pages for personal use only, you are welcome to do so. If you later want to update them, check with the version numbers in the main index on this page as given below (e.g. v12). The dates of the latest version are given in UK format (dd/mm/yy).

Site Organisation This site is having recently been transferred from the old site at It was not intended to move the site, but restrictions imposed by Demon have forced me to move it elsewhere, as had already happened with the pictures pages on what is now a redundant site - The two sites are now merged back together again. There are three main sets of pages dealing with the coins of the United Kingdom. The History Pages which detail the history of the individual denominations used since before the Norman Conquest. The Main Index for these is on this page. There are links to the relevant Values and Pictures pages on each of the History Pages. With hammered gold coins (such as the Angel) the changes of value over time do create a problem; they are referred to under each value that they had, with links taking you from one value to the next. The Decimal Coins pages detail the history of the change to decimal coinage in 1971, and the coins issued since that time, and are now integrated into the main History Pages section. The Values Pages, which detail the values of individual coins in a range of condition grades since the introduction of Milled coins during the Commonwealth. There is a Values Index Page on which will help you find the value of your coins.

There are links to the relevant History and Pictures pages on each of the Values pages. The Pictures Pages. These were hosted on my alternative site at although that site has been mothballed, and has been merged back onto this site . Pictures are confined to the pages in the picture section as the rest of the site is designed to be read easily and rapidly by readers using any type of software and communication link, without expecting that the viewer has the very latest software. However, links to many images can be found on the History pages. There are links to the relevant History and Values pages on each of the Pictures pages. Enquiries Before mailing the author to ask about the value of your coins, first try to judge their condition using the Grading Information below, and then look up your coins on the Values of UK Coins pages. This may answer your question without adding to the several messages per day that the author receives on the subject. If you wish to ask for advice, please try to look through this site first, but if you cannot find the information you want feel free to contact the author via the Advice page . Ensure that your Reply-To address is correct, as I delete all messages immediately after replying.

I do answer all non-spam e-mails received, so if you do not get a reply within a couple of weeks, try again. If the information is readily available on the site, I will refer you to the appropriate page in the hope that this will assist you to find further similar information yourself. If there is a problem with any aspect of the site design, such as faulty links, please contact the author via the Advice page . Die Numbers Some Victorian silver and gold coins have die numbers. I have compiled a list of those known to exist which is almost certainly not complete. If you have such a coin check the die number on this page and let me know if you have one that is not recorded. If outside the known range of numbers please send me a clear image of both sides of the coin for confirmation. Proof Sets v20 04/03/15 A list of what changes were made in the past year or so can be found here . UK Coin Values There is a similar series of pages dealing with just the Values of UK Coins , including access to a CSV File suitable for loading into your favourite database or spreadsheet. This file has an exhaustive list of all years and denominations and includes major varieties and many proof coins.

For more extensive value information I suggest you purchase The Coin Yearbook from Token Publishing Ltd, PO Box 14, Honiton, Devon EX14 9YP, UK , to whom I am indebted for their permission to use the values information published in their magazine Coin News and their Coin Yearbook. These values pages can also be accessed directly from the descriptive pages in the list above. Coins in gold and silver have an intrinsic metal value which can exceed any numismatic value. A new page on bullion values is now available. Index by Metal and Size As many UK coins do not have a denomination on them, especially prior to the 20th century, the following gives an index by diameter and weight for Milled coins only. Bear in mind that coins from the 18th Century and earlier show significant variations both in diameter and weight from issue to issue. Hammered coins show far too much variation for them to be indexed in this way. Milled coins are those produced on a machine press, and have a regular size. This process became standard around the time of Charles II in the middle of the 17th century.

Prior to that coins were made by hand hammering, and as there was no collar the size of the coin was irregular. The term milled is also applied to the lines on the edge of the machine-made coins which were introduced to prevent the practice of clipping silver or gold from round the edge. These lines can be either perpendicular, angled or chevroned, or even in the form of a recessed line around the edge. Higher denominations sometimes have lettered edges. The term 'Early' as used in the list below generally means pre-1816. Such coins show variations around the figure given. Copper, Bronze or Copper-plated Steel Illustrations In order that the site can be loaded speedily by all users of the web, illustrations are not used in the main pages. Previously, because of bandwidth limitations on the host server that I used to use, pictures were accessed from a picture store on the separate website However, this has now been relocated back onto this site in the folder . Use of remains active although you will simply be redirected back to the corresponding page on this site.

Links to individual pictures can be found at relevant points in the main description pages, and are downloaded from the picture store, while the above reference will give an index to extensive displays of images based either on monarch or denomination. Future Developments Now that I have scanners and digital cameras the number of illustrations on the picture pages has been dramatically increased. I particularly welcome donations of images to fill gaps in the collection. It is intended to write pages detailing the numismatic history of the reign of each monarch, but this is taking some time. Little has been done on that mission in this century! Grading A range of grades are used to describe the condition of coins. Valuation of a coin is impossible without a sound knowledge of the grading of coins. For this there is no real substitute for experience. However, the following is a guide to the main UK grading scheme used for UK and other coins. Please note that this differs in many respects from US grading systems. Poor: Inscriptions worn off, date illegible, only outline of design visible. Such coins are generally of no value to a collector. Very Good (VG): Considerable wear over the whole coin, and high spots worn through. Coins in this or the previous grades are really only collectable if extremely rare.

This picture is of the reverse of a 1905 penny which is Good to Very Good (i.e. awful!) Fine (F): Worn over whole area, but only the highest spots are worn completely through. (US Grade about VF) Very Fine (VF): Detail clear, but obvious evidence of limited circulation. High spots worn but detail remains. Traces of mint lustre may linger amongst the letters of the inscription. (US Grade about XF) Extremely Fine (EF): Slight wear on high spots on close inspection, and all other detail clear and sharp. Much mint lustre may remain. (US Grade about AU) Uncirculated (Unc): No wear, although it is possible for the design not to be fully struck up in the minting process. There may be bag abrasions. Older coins may be tarnished or toned. Brilliant Uncirculated (BU): Usually implies full mint lustre, in other words no toning or tarnish. FDC: (Fleur de Coin) Perfect mint state, with no abrasions or marks, and full lustre. Usually applied to proof coins only, as coins intended for circulation are in contact with others during production.

Proof: Not a condition, but the coin has been struck using specially prepared dies and polished blanks, and the minting process has been carried out usually twice with extra pressure to ensure the die is filled. Normally the fields are highly polished, with the design matte, however matte proofs where the whole coin is matte are known (for example all the 1902 GB proofs), and sometimes even the design is polished. A characteristic of proof coins is that they have very sharp edges because of the high pressures used to ensure that the metal flows into all details of the design. Many coins fall in between grades, and so terms such as 'nearly VF', 'good VF', 'gem BU' are encountered. The numerical system popular in the USA is almost unused in the UK, and US readers should bear in mind that their grading system is more generous than that of the UK. The Two Pound Coin with a Necklace Legend There have been rumours circulating in the UK that the two pound coin where the queen is wearing a necklace is worth a lot (the highest figure quoted to me is £75). There have even been rumours that they are being recalled and that banks and post offices will give a premium for them. This is an urban legend.

1997 two pound coins are plentiful, circulate readily, and are NOT scarce. Sorry to disappoint you on this. Banks and post offices will only give you two pounds for them. No less than 13,734,625 have been issued for circulation according to the Royal Mint. Hardly a rare coin. However, they are not too often seen as not only are much larger numbers of later coins available, but because of the rumours they have been picked out of circulation. There was a problem in the production of the new bimetallic two pound coins which meant that the release date was delayed from 1997 to 1998. In the meantime the portrait was changed for the newer coins minted in 1998. They issued the 1997 coins (with the 'necklace') anyway, in large quantities.

They are not worth more than two pounds, nor will they be unless in uncirculated condition in a lot of years time (as will the 1998, 1999, etc coins) On the other hand the Guernsey version of the coin dated 1997 is scarce as it was only issued in the Guernsey uncirculated coin sets (as you may know both Jersey and Guernsey issue their own coins). The Two Penny Coin with NEW PENCE Legend A lot of people have misunderstood a recent TV program. There is a rare two penny coin, but it is only the one dated 1983 with NEW PENCE on the reverse. From 1971 to 1981 all UK circulating coins used the words NEW PENCE to distinguish them from the old pre-decimal pennies. In 1982 it was felt that this had gone on long enough, and the legends were changed, replacing the word NEW with the value of the coin, such as TWO or FIFTY, etc. In 1983 so many 2p coins were in circulation that there was little demand for more.

As a result, two pence coins bearing that date were only issued in sets issued by the Royal Mint for collectors. In error, about 20 or so included two pence coins with the old NEW PENCE instead of TWO PENCE on the reverse. There may be sets still sitting around unchecked (sadly my own has the more common TWO PENCE reverse). The chances of sets being broken up and put into circulation are fairly small, so the chances of finding a 1983 twopence in circulation are tiny anyway - the chances of finding the error reverse make winning the lottery look easy. 'To Hanover' Tokens Copper or brass tokens bearing the legend 'To Hanover' often turn up. These are not UK coins, despite the portrait of Queen Victoria usually found on them. When William IV died, Victoria became Queen, and inherited many of King William's titles. However, the Electorship of Hanover could only be inherited by a male heir, and this went to the Duke of Cumberland, a rather unpopular figure, who promptly departed to Hanover. The tokens were used for gaming, it is thought, and say 'Good Riddance', so to speak.

With modern coins there are two types of the orientation of the reverse: 'Coin' orientation, where the reverse is upside down when you turn the coin sideways. 'Medal' orientation, where the reverse is upright when you turn the coin sideways. Modern US 'silver' coins use the 'coin' orientation, as do most UK copper coins prior to 1825 (1826 for farthings) and silver or gold up until 1887. Modern UK coins after the above dates use 'medal' orientation, as do many earlier proofs. Prior to 'D-Day' on 15th February 1971 the English coinage system was based on the following relationships: 2 Farthings = 1 Halfpenny 2 Halfpence = 1 Penny (1d) 6 Pence = Sixpence (often referred to as a tanner) (6d) 12 Pence = 1 Shilling (often referred to as bob, e.g.

six bob) (1/-) 2 shillings = 1 Florin (or two bob bit) (2/-) 2 Shillings and 6 Pence = 1 Half Crown (rarely referred to as half a dollar) (2/6) 5 shillings = 1 Crown (5/-) 20 Shillings = 1 Pound (often referred to as a quid) (£1) Other terms much more rarely used include 4 Pence = 1 Groat (4d) 13 Shillings and 4 Pence (160 pence) = 1 Mark (13/4) 21 Shillings = 1 Guinea (£1/1/-) Note the way sums of money were written: 6/8 means 6 shillings and eightpence, while £2/19/11 was two pounds nineteen shillings and eleven pence. The use of d for penny may seem odd until you realise it is short for the Latin denarius.

The term guinea was (and is) used for 21 shillings (£1.05), especially in horse racing and by auction houses, although no coin of that value has been issued since 1813. The Mark was traditionally used as a standard fine by the University of Cambridge during my own time there in the early 1960's. In advance of D-day the halfpenny and half-crown were withdrawn, and 5 new pence and 10 new pence coins were issued from 1968 to circulate alongside the existing shilling and florin coins. A 50p coin appeared in 1969 to replace the old 10 shilling banknote. The farthing had gone long before, in 1961. After D-day the penny and threepence coins rapidly disappeared from use. The sixpence continued in use as 2½ pence for about nine years. The new halfpenny went not long afterwards. However, the old shillings and florins continued alongside the 5p and 10p coins until a reduction in size in the early 1990's resulted in their disappearance from circulation.

The 50p coin was also reduced in size in 1997. Three new coins have been introduced since decimalisation - the 20p appeared in 1982 followed by the pound coin in 1983 and the two pound coin in 1998 (although 1997 versions are frequently found in change). Commemorative two pound coins were issued irregularly from 1986, but these early coins differ from the circulating version first issued in 1998 in that the latter is much thinner and is also bimetallic. Full information on the switch to Decimal Coinage, and recent changes to the coins used in the UK, can be found on the Decimal Coins page. The information has been culled from a very wide variety of sources, and I acknowledge my indebtedness to them, especially the following: 'An Advanced Guide to Coin Collecting' by Howard Linecar 'Coincraft's Standard Catalogue of English and UK Coins' 'English Coins' by GC Brooke 'English Copper, Tin and Bronze Coins in the British Museum' by C.W.Peck. 'The Bronze Coinage of Great Britain' by Michael J.

Freeman 'A History of Modern English Coinage' by James Mackay 'The Seaby Coin Encyclopaedia' by Ewald Junge 'Seaby's (now Spink's) Standard Catalogue of British Coins' 'Teach Yourself Numismatics' by CC Chamberlain There are many individuals who have been kind enough to help, and while some are mentioned individually in the text, I am indebted to all those who have written to me about points in this site. I am particularly indebted to Spink and Jean Elsen & Ses Fils for permission to use images from their auction catalogues, as well as many other individuals who are acknowledged by name or have given images anonymously. I am most grateful to The Ten O'Clock Show Limited for their past sponsorship of my coin-related websites. Sadly, it seems the business might have closed. Other Coin Related Sites A list can be found on my Links Page . An essay on the use of various metals in coinage is to be found on my 'Metals Used in Coins and Medals' page.

Tony Clayton's Home Page Help and Advice I would be grateful if you could search the site carefully before mailing me - the answers to the great majority of the questions that I am asked can be found on this site, and I am unlikely to reply quickly to such questions. In particular, I do NOT provide a valuation service. If you have done this and still wish to ask for advice, feel free to mail me via my Advice page . Coins of the UK The History of Decimalisation in Britain By Ben Johnson | Comments Prior to 1971, there were 12 pennies to the shilling and 20 shillings to the pound. There were guineas, half crowns, threepenny bits, sixpences and florins. This old system of currency, known as pounds, shillings and pence or lsd, dated back to Roman times when a pound of silver was divided into 240 pence, or denarius, which is where the 'd' in 'lsd' comes from. (lsd: librum, solidus, denarius ).

To prepare the nation for the changeover in currency systems, the Decimal Currency Board (DCB) was set up, running a public information campaign in the two years prior to the switchover on Monday 15 February 1971, also known as Decimal Day. Three years before changeover, new 5p and 10p coins were introduced; these were the same size and worth the same amount as the one and two shilling coins. In 1969 a new 50p coin was introduced to replace the old 10 bob (shilling) note. The banks were closed for four days before changeover to prepare. Currency converters were available for everyone, and prices in the shops were shown in both currencies. This went some way to alleviate the feeling many people had, that shopkeepers might use the conversion from old money to new to increase prices! Cafe price list circa 1960 with prices in shillings and pence 'Decimal Day' ran without a hitch.

Although the elderly generation found it more difficult to adapt to decimalisation, in general the population readily embraced the new currency and the oft-used phrase of the 1970’s "How much is that in old money?" is now more commonly used in reference to metrication. For a short time the old and new currencies operated in unison, whereby people could pay in pounds, shillings and pence and receive new money as change. Originally it was planned that old money would be phased out of circulation over eighteen months, but as it turned out, the old penny, halfpenny and threepenny coins were officially taken out of circulation as early as August 1971. from l to r: shilling, farthing, threepenny bit It was originally intended that the new unit of currency would be referred to as ‘new pence’ to distinguish it from the old money, but this was quickly adapted to the abbreviation ‘pee’, which we still use today. The term ‘decimal currency’ describes any currency that is based on one basic unit with a sub-unit which is a power of 10, most commonly 100, and comes from the Latin word decem, meaning ten.

In comparison to the rest of the world, Britain lagged behind in the decimalisation stakes. Having converted to the ruble (equal to 100 kopecks) in 1704, Russia became the world’s first country to adopt a decimal currency, followed by the 1795 introduction of the franc in the wake of the French Revolution. from l to r: sixpence (or tanner), half crown, half penny Whilst Britain and our nearest neighbour Ireland did not convert to decimalisation until 1971, this was not the first time Britain had considered decimalisation. As far back as 1824 Parliament had considered decimalising the British currency. In 1841,the Decimal Association was founded in support of both decimalisation and use of the SI metric system, the international standard for physical measurements which had been adopted by France in the 1790s and has since been widely introduced across the world (although interestingly the metric system has still not been fully implemented in the UK).

However despite the introduction of the two shilling silver florin in 1849, worth one-tenth of a pound, and the double florin (a four-shilling piece) in 1887, there was little development towards decimalisation in Britain for nearly a century. It was not until 1961, in the wake of South Africa’s successful move to decimalisation that the British Government introduced the Committee of the Inquiry on Decimal Currency, whose 1963 report resulted in the final agreement to adopt decimalisation on 1 March 1966, with the approval of the Decimal Currency Act in May 1969. Whilst various names for a new unit of currency had been suggested – such as the new pound, the royal or the noble – it was decided that as a reserve currency, the pound sterling was too important to lose. Conversion table - decimal and pre-decimal systems Pre-decimal 5/- 25p There are now only two countries in the world who officially continue to use non-decimal currencies.

Mauritania still employs the ouguiya, which is equal to five khoums and Madagascans use the ariary, which is equal to five iraimbilanja. However, in reality the khoum and iraimbilanja sub units are so small in value that they are no longer used and the rest of the world’s currencies are either decimal, or use no sub units. Whilst many of our closest neighbours have succumbed to the simplicity of the Euro since it’s induction on 1 January 2002, for now at least the majority of Britons remain faithful to the pound sterling. Whether this is down to a sense of identity or the more altruistic suspicion that goods prices will rise dramatically (or a combination of the two!), whatever the viewpoint it is agreed that there is still a great deal of debate over any change to British currency. As with decimalisation then, perhaps in two hundred years time we will have decided our European counterparts are on to something! Tweet If you enjoyed this article, you might also like... Etiquette and Good Manners - Whilst the English penchant for manners and socially appropriate behaviour is renowned across the world, the word etiquette to which we so often refer actually originates from the French...

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If you do, you must be at least in your 40s, because it was back in February 1971, 40 years ago, that Britain "went decimal" and hundreds of years of everyday currency was turned into history overnight. On 14 February that year, there were 12 pennies to the shilling and 20 shillings to the pound. The following day all that was history and the pound was made up of 100 new pence. Decimalisation - having a currency based on simple multiples of 10 and 100 - had been a long time coming to Britain. France and the United States had gone decimal in the 1790s. Britain first thought about doing the same in the 1820s but the idea did not gather momentum. Prior to 1971, the closest Britain came to decimalisation was in 1849 with the introduction of the florin - a coin worth two shillings (24 old pence or 10 new pence) which was one-tenth of a pound. See all the old coins From the farthing to the florin and half crown.

Images from the Royal Mint. In pictures: Pre-decimal currency During the 1960s a number of Commonwealth countries had gone decimal - Australia, New Zealand and South Africa. "There was a sense in which there was a momentum behind this," said Dr Kevin Clancy, head of historical services at the Royal Mint. "It would have been a huge disruption, which was one of the reasons governments shied away from it." "The old money in fact linked right the way back to ancient times," said Catherine Eagleton, curator of modern money at the British Museum. "So it's the pound of silver divided into 240 pence. It was the historic way the Romans used their money and divided up the [librum, solidus and] denarius which was where the d in L.s.d. (or £sd) for pounds, shillings and pence comes from." Quick decision But remarkably it took the government only seconds to decide to get rid of the currency that had served Britain for thousands of years. It happened one day when the then Chancellor of the Exchequer Jim Callaghan popped next door to see Prime Minister Harold Wilson.

Find out more Archive on 4: Decimal day - What's that in old money is on Radio 4 at 2000 GMT on Saturday 5 February Or listen again on the iPlayer The economist Peter Jay, who was also Mr Callaghan's son-in-law, recalled: "They talked for about 20 seconds and Wilson said 'well why not' and that is how the decision was made... in a few seconds a century and half of argument about decimalisation came to an end." The decision was announced to Parliament in 1966. In reality, the change-over between currencies was a gradual process. The Decimal Currency Board (DCB) was created to manage the transition. Some three years before "D-Day" or Decimal Day, new 5p and 10p coins were introduced. They were of the same size and value as the existing one and two shilling coins. Then in 1969, a 50p coin was introduced to replace the 10-shilling note. The 50p coin was referred to as a 10-shilling coin at the time.

On Monday 15 February 1971, the process was completed when the 0.5p, 1p and 2p coins were introduced. The banks were closed for four days from the previous Thursday to prepare for the change-over. Save the sixpence One old coin that survived longer than expected was the sixpence. Worth 2.5p, it remained in circulation until 1980, after a public campaign to keep it. Old money speak Many sayings and phrases in the English language relate to our old money. Here are just a few: "Spend a penny" "You look like you have lost half a crown and found sixpence." "A penny for your thoughts" "It can turn on a sixpence" "Bob-a-job week" "Take the King's shilling" Dick Taverne, who was chief secretary to the Treasury a year before decimalisation said: "There was a passionate public campaign 'save our sixpence'. "People were very fond of the coin. They said it was part of our heritage. It was thought a terrible thing to get rid of the sixpence.

"I remember in the course of the debate, one of the Labour members screaming 'But what about the housewife, she is going to miss the sixpence, she is going to be exploited - how dreadful the decision to abolish the sixpence'. It was a very emotive issue." Forty years on, those old coins are a distant memory for those in their 40s and beyond, and a puzzlement for those too young to have known them. But pre-decimal pennies are still in use in one part of London where they have a vital role. They are used to adjust the timing of the pendulum of the clock in the Clock Tower of the Palace of Westminster, commonly known as Big Ben. The day Britain lost its soul: How decimalisation signalled the demise of a proudly independent nation | Daily Mail Online The day Britain lost its soul: How decimalisation signalled the demise of a proudly independent nation comments Although we all have money worries, especially at a time of such economic ­austerity, few of us ever spare a thought for the coins that jangle in our pockets. We take them for granted; usually we ­barely even bother to look at them.

Yet next month will mark the 40th ­anniversary of one of the biggest ­ruptures in our recent past — a moment that marked the greatest transformation in the history of ­British money. On Monday, February 15, 1971, Edward Heath’s government formally abolished the old coinage that had served for ­generations, replacing it with a new ­decimal system inspired by Napoleonic France. Decimalisation: By 1971, Edward Heath, leader of the Conservative Party and the new man in Number 10, was obsessed with ­modernising Britain - and if that meant demolishing the legacy of the past, so much the better Out went the shilling, the half-crown and the sixpence, with all their historic associations. In came a new, unfamiliar European-style ­currency — much to the outrage of millions of ordinary Britons. Forty years on from ‘Decimal Day’, it looks a profoundly symbolic moment, marking the end of a proud history of defiant insularity and the beginning of the creeping ­Europeanisation of ­Britain’s institutions. Like so many of the social and cultural changes of the Sixties and Seventies, it was remarkably undemocratic.

Nobody ever voted for it; nobody ever asked the British people for their opinion. Decimalisation was imposed from on high, the edict handed down by a ­political and intellectual elite indifferent to the romantic charms of history and tradition, but determined to turn Britain into a modern European state. RELATED ARTICLES Share this article Share Like the reformers who wanted to revamp England’s historic counties, the planners who relished demolishing our Victorian ­architectural heritage, or those poor souls who wanted to sign up to the euro (and who have gone remarkably quiet), the decimal-­lovers fantasised about a modernised Britain with all the quirks ironed out — a larger, colder ­version of Belgium. Yet they were not the first reformers to dream of scrapping Britain’s age-old ­coinage. Even the Victorians had their fair share of decimal enthusiasts, although their ­campaign never caught on. Now decimal currencies are the norm, we often forget they represent something ­relatively new. As late as 1789, only one major European country, Russia, had a ­decimalised currency, the rouble, which was divided into 100 kopeks.

But when the French ­Revolution broke out that year, radicals saw their chance to sweep away the legacy of the past. A bank within a shop in Oxford Street, London, changes the old pounds, shillings and pence into decimal currency (file photo) Six years later, the French ­introduced the franc, divided into 100 centimes, which was to become their national ­currency for the next two centuries. As Napoleon’s armies ­rampaged across Europe, the French took their strange new decimal notions with them. And although Britain stood firm against the Corsican ­dictator, there were, as so often, more than a few ­starry-eyed idealists who wanted to copy the French example. In 1841, a small group of ­Victorian do-gooders even founded the Decimal ­Association to campaign for currency reform, and in 1859, a Royal Commission considered but rejected the idea, judging it had ‘few merits’. But the decimal enthusiasts never gave up the fight. In Anthony Trollope’s Palliser novels, the character of ­Plantagenet Palliser is a ­passionate advocate of ­decimalisation.

But although he eventually becomes Prime Minister, he never gets his plan put into effect. The truth is that during ­Britain’s imperial heyday, ­politicians and ordinary people alike were too closely attached to their national traditions to consider such a radical change. Like so many of the social and cultural changes of the Sixties and Seventies, it was remarkably undemocratic. Nobody ever voted for it; nobody ever asked the British people for their opinion The pound sterling, the half-crown, the shilling and the ­sixpence were too deeply embedded in our national life; they were symbols of a country set apart, proud of its island status. And this sense of British ­exceptionalism was not confined to the political Right. In his splendid essay The Lion And The Unicorn, published when Britain stood alone against the Nazis in 1940, the Left-wing George Orwell wrote that there was ‘something distinctive and ­recognisable in English ­civilisation … bound up with solid breakfasts and gloomy Sundays, smoky towns and winding roads, green fields and red pillar-boxes’. Like so many of his compatriots, Orwell saw Britain as a land apart from continental Europe.

‘When you come back to England from any foreign country,’ he wrote, ‘you have immediately the sensation of breathing a different air. Even in the first few minutes dozens of small things conspire to give you this feeling. The beer is ­bitterer, the coins are heavier, the grass is greener, the advertisements are more blatant.’ Yet in the decades that ­followed, Orwell’s Britain became ­increasingly unfashionable. By the beginning of the Sixties, with the colonies ­declaring independence and the economy entering a long-term decline, our political and ­intellectual classes were ­losing confidence in Britain’s ­deep-rooted traditions. Having rejected the chance to join the nascent Common ­Market in the mid-Fifties, ­Britain’s governing elite now became convinced only ­European membership could reverse the decline. And in a bid to show their neighbours just how modern and European they were, they turned their attentions to the national currency. In 1961, Harold Macmillan set up the Halsbury Committee to examine the prospects for ­decimalisation. It did not report until five years later — by which time another impatient ­moderniser, Labour’s Harold Wilson, was prime minister.

Lord Fiske, Chairman of the Decimal Currency Board, pictured in 1970 with one of three posters which were displayed as part of an intensive campaign of official information and explanation of decimal currency in time for D Day Februay 15, 1971 Having promised to build a ‘new Britain’ in the ‘white heat’ of the technological revolution, Wilson liked the sound of ­anything that would make him look youthful and progressive. His was a government obsessed with the new, from new road signs, postcodes, speed limits and breathalysers to the reform of the divorce, abortion and homosexuality laws. Going decimal, he thought, would show French president Charles de Gaulle just how keen he was on all things European. So when his Chancellor, Jim Callaghan, asked him about ­decimalisation, Wilson simply nodded and said: ‘Why not?’ — an extraordinarily cavalier and undemocratic way to approve such a sweeping change. When the Cabinet considered the matter a few days later, it was accepted with virtually no discussion at all.

So, in just a few moments, without the ­British people ever being asked to express their opinion, the coins that millions of Britons down the centuries had known and loved had been condemned to the scrapheap. But what should replace them? Most banks and businesses wanted a shilling system, with ten shillings as the basic unit. But the Bank of ­England was ­adamant that to preserve sterling’s ­international reputation, Britain must stick with the pound. By 1968, the changeover was underway. In April that year, the first 5p and 10p coins entered ­circulation, larger than they are today being the same size and weight as the old shilling and the florin or two shilling coin. A year later they were joined by the ­hexagonal 50p coin, which replaced the ten-shilling note. Gradually, the old coins began to disappear. The old ha’penny vanished in 1969; the much-loved half-crown, part of ­English life since the reign of Henry VIII, went a year later.

All of this, however, was merely a prelude to the big changeover on Monday, February 15, 1971, ­‘Decimal Day’ — chosen because February was usually a quiet month for banks and businesses. By now a new Conservative ­government was in charge. But in many ways, Edward Heath, the new man in Number 10, was even more radical than Wilson. Already looking forward to ­taking Britain into Europe, Heath was obsessed with ­modernising Britain — and if that meant demolishing the legacy of the past, so much the better. In the run-up to Decimal Day, Heath’s ministers spared no effort to preach the virtues of the new currency, even commissioning an unforgivably awful song by Max Bygraves, Decimalisation. The BBC organised a series of five-minute information shows called Decimal Five, while ITV put on a supremely patronising little drama, Granny Gets The Point, showing a baffled old lady learning how to use the new coins. On the big day itself, the ­transition went off without a hitch. British Rail and London Transport had gone decimal a day early, while most major stores were prepared.

Harrods had an army of ‘decimal pennies’, girls in rakish boaters and blue sashes, to help confused ­shoppers, while Selfridges boasted a troop of girls dressed in ‘shorts and midi split skirts and other suitably ­mathematically costumes’. Yet like so many of the ­transformations of the late Sixties and early Seventies, from the ­demolition of the old city centres to the abolition of hanging, decimalisation went ahead in the face of widespread public opposition. Polls showed barely four out of ten people liked it; in London’s West End, so-called ‘anti-decimal terrorists’ handed out leaflets denouncing the government’s ­failure to consult public opinion. Many people were worried that going decimal would allow stores secretly to put their prices up. Almost certainly this was an urban myth, for with inflation already at a staggering 9.4 per cent, prices were soaring anyway. Yet it is not hard to see why so many were upset. The ­elderly remained highly suspicious of the new money.

Many even insisted on carrying ‘Decimal Adders’ around the shops to work out the ­difference between old and new, although by the standards of modern calculators these were laughably clunky and cumbersome. Yet for millions of people in the early Seventies, decimalisation was merely another symptom of a world that seemed to have cast out all tradition, all familiarity, all reassurance, all order: a frightening world beset by inflation, ­terrorism, crime and delinquency. The truth was that Orwell’s ‘distinctive and recognisable’ England was disappearing. A year later, Heath’s government ripped up the map of the British Isles, abolishing historic counties such as Rutland and inventing new, entirely artificial entities like Avon and Cleveland. And on New Year’s Day 1973 came one of the biggest changes in our entire history, as Britain joined its decimalised partners in the European Community. Outside its Brussels headquarters, the Union Jack flew for the first time — appropriately enough, upside down. Just as its opponents had ­predicted, decimalisation was an expensive business, costing an estimated £120 million (roughly £4 billion today). And just as they had predicted, it proved merely the thin end of the wedge.

Bit by bit, the distinctive ­traditions that had marked British life during Orwell’s lifetime began to disappear. Under European law, metrication soon followed decimalisation, with kilograms and metres slowly ousting pounds and feet. Today, most of us simply take our decimal currency for granted. Nobody born after the late Sixties can remember the old coins so familiar to previous generations. And few recall that for hundreds of years there were 240 pence in the pound, not 100. It might seem a trivial change. Yet as the debacle of the euro has proved only too well in recent months in Greece and Portugal, a nation’s currency is its very life-blood. Just like the planners who were flattening our historic city centres at that very moment, sacrificing tradition on the altar of modernity, the men behind Decimal Day were indifferent both to public opinion and to the great weight of history. Decimalisation not only drove a wedge between the generations, giving millions of older people the sense they had been transported into a foreign land. In a deeper, symbolic way, it helped to cut us off from our history.

Of course we will never go back to the old currency — not least because, as even traditionalists would have to admit, the decimal system is a lot easier to grasp. For good or ill, we have become a much more European country — a land of duvets and wine bars, ­pavement cafes and continental breakfasts, foreign holidays and Italian restaurants. But change never comes without a cost. And in the disappearance of George Orwell’s Britain, the land where the coins were always heavier than anywhere else, there was surely much to mourn. On that grey, drizzly day 40 years ago, we might have gained a shiny new streamlined currency. But we also lost something rather more profound: a little bit of our national soul.

Question: In what year was decimal coinage introduced in the UK?
Answer: 1971