Posts Tagged ‘Decimal coin’
A deep dive into decimalisation…
In 1971, Britain officially went ‘decimal’ after a long period of campaigns in preparation for the move.
The transition to decimalisation was the biggest change to the UK’s monetary system in over 1000 years and understably was met with caution by the public.
Rationale presented by decimal enthusiasts was opposed by those who were cautious of the effects of a new decimal coinage system.
In this blog, we take a close look at this controversial monetary move as we take a deep dive into Decimalisation…
The Decimal Debate
For centuries, Britain’s coinage consisted of pounds, shillings, pence, farthings, crowns, half pennies… the list goes on!
This complex system had first been raised for debate in 1847 by Sir John Bowring, who proposed a call for it to be changed to a currency based on units of ten. As a result of his proposal, the nation’s first decimal coin appeared – the florin.
It wasn’t until 1961 however, that the Government set up a special committee to discuss whether Britain should introduce a decimal currency.
On 1 March 1966 the Chancellor of the Exchequer, James Callaghan, announced that pounds, shillings and pence would be replaced by a decimal currency, with a hundred units in a pound.
Making the Change
The changeover was a huge task and the public and businesses of Britain required all the necessary information to make the changeover as smooth as possible.
The volume of coins required to be produced was far greater than The Royal Mint’s production capabilities at Tower Hill and it brought about their move to Llantrisant, South Wales, in 1968. It was here that the first of almost six billion coins required for decimalisation went into production.
In 1968 the new 5p and 10p coins were introduced. They were the same size and value as the existing one and two shilling coins to make the transition easier for the British public.
It was in 1969 that the first seven sided coin – the 50p – was introduced to replace the 10-shilling note as a more economical alternative and then finally, on Monday 15 February 1971, the transition was complete when the half penny, 1p and 2p coins were also introduced.
Our Dear Decimals
From Britannia to the Salmon, the 50p has become the most collected and best loved decimal denomination, with over 75 different designs on our circulating 50p coins since its introduction in 1969, and even more commemorative 50p designs.
There have been over 60 different two pound coin designs since 1986, a redesign of our one pound coin specification to a 12-sided coin from the original round pounds in 1983 and, most recently our coinage underwent a complete overhaul with the introduction of the New UK Coinage for King Charles III – introducing 8 new designs from the 1p to the £2 coin.
Since 1971, there’ve been so many great decimal coins to collect and here’s hoping there’s many more to come! Let us know in the comments which decimal coin is your favourite.
Complete your Queen Elizabeth II Decimal Collection
Are you on a mission to collect every QEII decimal coin? Our Complete Queen Elizabeth II Decimal Coin pages are the perfect way to display your collection!
The 50 Day Countdown to the 50th Anniversary of Decimalisation has BEGUN!
The countdown has begun and in JUST 50 days, our decimal coinage will celebrate its 50th anniversary!
Join in with our celebrations!
To celebrate the anniversary of the biggest change our UK coinage has ever seen, we’ve launched a 50 Day Countdown until the Decimalisation Anniversary!
Every day, for 50 days, we’ll be posting different activities for you to read, watch and get involved in. We’ve got quizzes, giveaways and so much more planned, so make sure you’ve got your eyes peeled across all of our channels so that you can get involved!
The 50th anniversary of Decimal Day marks a significant change in our UK currency which changed the day to day lives of every British Citizen in the United Kingdom.
It was the subject of passionate debate for centuries, so during our 50 Day Countdown, we’ll be taking a closer look at the history and story behind the decimal changeover. To test your knowledge, we’ll even have some quizzes for you to get involved with!
So, will you be joining us on our Countdown?
Make sure you’ve subscribed to the Change Checker Podcast, our Youtube channel and you’ve followed us on Facebook, Instagram, and Twitter to make sure you don’t miss out on some of the exciting prizes up for grabs!
If you have memories of the changeover, or have any interesting facts about Decimalisation, make sure you’re commenting below!
Secure the 14 coins which were affected by the decimal changeover with the Decimalisation Collector Page!
This collector page includes space to display the 14 coins which were affected by the decimal changeover on ‘D-Day’ in 1971 and makes for the perfect heirloom for any aspiring collector, or for those interested in the heritage of British coins.
Using secure push-fit blisters to display each coin in the collection, your collector page is also designed to fit neatly inside the Change Checker Album.
Secure yours for JUST £30.00 (+p&p) when you click here >>