What was Decimal Day?

Decimal Day (15 February 1971) was the day the United Kingdom and Ireland decimalised their currencies.

Farthing	Florin	Shilling	Half Crown

Today's Currency

The British currency is the pound sterling. The sign for the pound is

Since decimalisation in 1971, the pound has been divided into 100 pence.

The pound () is made up of 100 pence (p)

one penny	two pence	five pence	ten pence

fifty pence	one pound	two pounds

Before 1971

Up until 1971, the pound was made up of 240 pence.

There were twelve pence in a shilling and 20 shillings in a pound.

Why was the currency decimalised?

Adding up sums of money was more complicated than with a decimal currency.

People outside the countries were confused with how much the following coins were worth:

Farthing	Florin	Shilling	Half Crown

1 'farthing' worth one quarter of an old penny

1 'florin' worth 2 shillings (2s)

1 'shilling' (1s) worth 12 pence

'half-crown' - worth two shillings and sixpence, or one eighth of a pound).

Activity

All British coins have the head of the Queen on one side. Do you know which way she always faces?

On the back of the British bank notes are famous people. Who do you think should be given the honour of having their picture on a bank note? Why?

Links

Understanding old British money

British coins used today

Bank Notes

Also on this day ....

Collop Monday
Named after the traditional dish of the day: collops of bacon served with eggs.
Find out more

Parinirvana / Nirvana Day (Buddhists)
Mahayana Buddhist festival marking the final passing away from this world of Gautama Buddha at Kushinagara, India, at the age of 80.

Links

Multifaith Calendar 2010

Buddhist Religion