What was the first British decimal coin?

The first decimal coins – the five pence (5p) and ten pence (10p) — were introduced in 1968 in the run-up to decimalisation in order to familiarise the public with the new system.

Why did UK go decimal?

February had been chosen for Decimal Day because it was the quietest time of the year for the banks, shops and transport organisations. Many items were priced in both currencies for some time before and after the change.

What is a British penny called?

British currency: all about money in the UK The UK currency is the pound sterling (£/GBP). There are 100 pennies, or pence, to the pound.

What was the value of a pre decimal British coin?

Prior to decimalisation the pound was divided into 20 shillings, each of 12 (old) pence; thus, there were 240 (old) pence to the pound. The value of a pre-decimal british coin depends on several factors such as quality and wear, supply and demand, rarity, finish and more.

Where was the pound coin made before decimalisation?

Since decimalisation, on 15 February 1971, the pound has been divided into 100 (new) pence. Before decimalisation, twelve pence made a shilling, and twenty shillings made a pound. British coins are minted by the Royal Mint in Llantrisant, Wales.

What was the timetable for the change to decimal coins?

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 penceand 10 new pencecoins. The older shillingsand florinscontinued to circulate long after decimalisation until the size of the coins was reduced.

When did decimal coins become legal tender in the UK?

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.