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# What happened to pre-decimal currency?

Updated: 9/15/2023

Wiki User

14y ago

Old currency is returned to the banks, the banks return it to the mint where it is melted down and sometimes used for making new coins.

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14y ago

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Q: What happened to pre-decimal currency?
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### What happened to Australian predecimal currency?

On the 14th of February, 1966, decimal currency was introduced in Australia and the Pounds, Shillings and Pence were progressively withdrawn. The bank notes were destroyed and the coins melted down.

### How much were halfpennies in pounds?

In predecimal currency, there were 480 Halfpennies in a Pound.

### How many shillings is 10000 Pounds?

In the predecimal currency, there were 20 Shillings in One Pound. Therefore there would be 200,000 Shillings in &pound;10,000 (predecimal).

### What do twelve pence make?

In predecimal currency, there were 12 Pence in a Shilling. In decimal currency, 12 Pence is 12% of a Pound (GBP).

### How can you transfer a pound to shillings from the 1930s?

In predecimal currency, there has always been 20 Shillings to One Pound.

### How much is 13 pence in shilling?

In predecimal currency, 13 Pence was One Shilling and 1 Penny.

### How much is 1 and ten pence in British currency?

If you refer to 1 Shilling and 10 Pence (1s 10d or 1/10) in predecimal currency, it converted to 9.16 Pence in decimal currency.

### What two coins do not have an equivalent?

The British predecimal Halfpenny, Penny, Threepence and Sixpence did not have an equivalent coin in decimal currency.

### When were New Zealand Pennies withdrawn from circulation?

New Zealand's decimal currency was introduced on the 10th of July, 1967. All predecimal currency was progressively withdrawn from circulation from that date.

### How many threepence equal a dollar?

None. A Threepence represented three Pennies in the various British based predecimal currencies. There were 240 predecimal Pennies in a predecimal Pound, so there were 80 Threepences in a predecimal Pound. At the time of Britains changeover to decimal currency in 1971, the old redundant Threepence became the equivalent of 1.25 New Pence. There are 100 New Pence in the British decimal Pound.

### What is A single unit of predecimal currency hoarded is the equivalent of a similar pecuniary token received as wages?

A penny saved is a penny earned.

### 24 H in a D?

In predecimal British currency 24 d was 24 pence, which equalled 2 shillings. This is the equivalent of 10 pence in modern British decimal currency.