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.