Decimal Day (15 February 1971) was the day the United Kingdom and Ireland decimalised their currencies.Today's Currency in Britain is the pound sterling. The sign for the pound is:
Since decimalisation in 1971, the pound has been divided into 100 pence. Up until 1971, the pound was made up of 240 pence. There were twelve pence in a shilling and 20 shillings in a pound. The currency was decimalised because 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:
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).
For more information: http://www.projectbritain.com/calendar/February/decimal.html
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