1971: Memories of a Lost Currency

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The first decimal coins in Britain dropped into purses and wallets across the nation on 15 February 1971.

It was the beginning of the end for the faithful tanners, bobs and half-crowns of the old system!

L.S.D. (pounds, shillings and pence)	Decimal Equivalent
Farthing (quarter of an old penny)	10 per 1 p
Ha'penny (half an old penny)	5 per 1 p
Penny	2 and a half per 1 p
Thruppence (threepenny bit)	Slightly over 1 p
Sixpence (tanner)	2.5 p
Shilling (bob)	5 p
Florin (two bob)	10 p
Half crown	12.5 p
Ten Shilling Note (ten bob note)	50 p
£1 Note	100 p

Something that cost £1/12/6d would be £1.62 and a half pence.

Farthing
A farthing was the smallest unit of predecimal currency in the last 100 years. A farthing was one quarter (1/4) of a Penny. The last Farthing was minted in 1956. Click here to see a farthing.

Half Penny
As the name suggests a 'half penny' was worth one half (1/2) of a penny. So two farthings also make up half a penny. The last half penny for circulation was dated 1967. Click here to see a halfpenny.

Penny
The penny was really the basic unit of currency and had a lot more value than a modern 'new' penny. There were 240 pennies in a pre-decimal pound (£). The last penny for circulation was dated 1967. Click here to see a penny.

Threepence
The Threepence was equal to three pennies. There were therefore eighty threepences in a pre-decimal pound (£). The last threepence for circulation was dated 1967. Click here to see a threepence.

Sixpence
Also called a 'tanner' - worth six pennies. There were forty sixpences in a pre-decimal pound (£). The last sixpence for circulation was dated 1967. Click here to see a sixpence.

Shilling
A shilling was worth twelve pennies. There were 20 in the pre-decimal pound (£). The shilling was replaced by the five new pence. The last shilling for circulation was dated 1967 although they were used as five pence pieces until the five new pence (5p) coin was made smaller in 1990. Click here to see a shilling.

Florin
The florin was worth 24 pre-decimal pence or two shillings. It was introduced by the Victorians in a step towards decimalisation, because it was worth one tenth of a pre-decimal pound (£). The last florin for circulation was dated 1967 although they were used as ten new pence (10p) until the ten pence coin was made smaller in 1992. Click here to see a florin.

Half Crown
All the previous denominations have been worth double the denomination before them. That stops with the florin because the half crown was worth 30 pre-decimal pence (or two shillings and six pence). There were eight half crowns in a pound (£) The last half crown for circulation was dated 1967. Click here to see a half crown.

Crown
A crown was worth 60 pre-decimal pence or one quarter of a pound. Crowns are still minted today and have been given a £5 face value. Click here to see a crown.

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