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01/03/1964 UK announces adoption of decimal currency system

3:00

15th February 1971: The UK and Ireland decimalise their currency

1:53

NEW PENNIES

The adoption of decimal currency system was announced in March 1964, and in February 1971, the UK decimalized the pound sterling, replacing the shilling and penny with a single subdivision, the new penny. For example, a price tag of £1 12s 6d became ​£1.62 1⁄2. The word "new" was omitted from coins minted after 1981.
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    • Essentials 

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    • Decimal coinage 

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    • History 

    • Anglo-Saxon 

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    • Unofficial gold standard 

    • Establishment of modern currency 

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