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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.
    • Essentials 

    • Names 

    • Etymology 

    • Symbol 

    • Currency code 

    • Cable 

    • Quid (slang) 

    • Decimal coinage 

    • Pre-decimal 

    • History 

    • Anglo-Saxon 

    • Medieval 

    • Tudor 

    • Unofficial gold standard 

    • Establishment of modern currency 

    • Currency of Great Britain (1707) and the United Kingdom (1801) 

    • Use in the Empire 

    • Gold standard 

    • Bretton Woods 

    • Decimalisation 

    • Free-floating pound 

    • 1976 sterling crisis 

    • 1979–1989 

    • Following the Deutsche Mark 

    • Following the European Currency Unit 

    • Following inflation targets 

    • Euro 

    • Recent exchange rates 

    • Annual inflation rate 

    • Pre-decimal coins 

    • Decimal coins 

    • Banknotes 

    • Polymer banknotes 

    • Monetary policy 

    • Legal tender and national issues 

    • Value 

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    • Reserve