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On 15 February 1971 the decimalisation of the UK currency occurred.
However, it was not an overnight event. Prior to this, in 1968 the new 5p and 10p which had the same value as the old shilling (bob) and florin (2 bob), and so were made to the same size, were introduced. In 1969 the 50p coin was introduced (with the same value as a 10 bob,10 shilling, note), and the old halfpenny and half crown (2/6) were withdrawn from circulation.; the following year (1970) saw the withdrawal of the 10 bob (shilling) note.
Prior to 15 February 1971 prices were shown in both old and new values, eg 1/- (one shilling)(5p), but after this date the order was reversed 5p (1/-). Banks closed a few days earlier to this to allow cheques to clear and to allow them to convert their accounts from lsd (pounds, shillings, pence) to £p - most banks still had manual accounts.
Later in 1971 the old penny and threepenny coins were withdrawn. As the old sixpence was now worth 2½p it was kept in circulation until finally being withdrawn in 1980.
Since the decimal currency has been in use, there have been special issue of crowns (worth 25p, the equivalent of 5/-, (five shilling) the old value of a crown), and prior to the introduction of the two pound coin, special single colour (golden) versions were made for various commemorative events.
What else can I help you with?
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