File # GN5422 (P) D DAY 25 CAPTION: D DAY 25

Coins on left side, clockwise from top:
A tiny, silver Victorian penny-halfpenny piece, dated 1843.
The half-crown had no satisfactory decimal equivalent, and ceased to be legal tender from 1 January 1970.
The 50p piece, phased in in 1969 to replace the old ten shilling note, was the worldÕs first seven-sided coin. Early design options included four, ten and 12 sides. 
An old ÔworkhouseÕ pound dating from 1813. It bears the words ÔOne pound note payable at the workhouse for 240 tokensÕ and was issued in Birmingham.
The distinctive, 12-sided threepenny piece effectively ceased to circulate within two weeks of D Day and was no longer legal tender from September 1971.
A gold Scottish £20 piece from the reign of James 1. It fetched $67,500 (£33,415) at auction in Los Angeles in 1976 Ð at the time a new world record for any British coin.
Coins on right side, clockwise from top:
The 5p coin was phased in alongside old money in 1968 in preparation for D Day in 1971. It has since been reduced in size.
The threepenny bit.
An old halfpenny, which ceased to be legal tender in 1969.
Like the 5p, the 10p coin was phased in in 1968 but has since been reduced in size.
The 2p coin, introduced on D Day in February 1971.
Background, left: an old £5 note, dating from 1835. Right: the £1 note, replaced by the pound coin on decimalisation and finally withdrawn from circulation in 1988. Bottom: a £10 note of today.

THIS PHOTOMONTAGE MAY BE REPRODUCED WITHOUT FEE FOR EDITORIAL PURPOSES ONLY. 
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LONDON, February 14, Graphic News Ð 

25 FASCINATING FACTS ABOUT DECIMALISATION ON THE 25th ANNIVERSARY OF D DAY Ð 15 FEBRUARY 1971-1996
Press Release from the Royal Mint

1. The first recorded suggestions that Britain should adopt a decimal currency instead of £sd were made as far back as the 17th century. A reference in Parliament to decimal currency was made in 1816.

2. Two Royal Commissions on decimal coinage later, a Committee of Inquiry Ð the Halsbury Committee Ð was established and held its first meeting in January 1962. This committee was concerned with ÔhowÕ to decimalise and not ÔwhetherÕ decimal coins should be introduced.

3. The decision to go decimal in Britain was announced in the House of Commons on 1 March 1966. James Callaghan, the Chancellor of the Exchequer, also said that a Decimal Currency Board would be set up to oversee the changeover, which the Chancellor thought would require a preparatory period of five years.

4. The Decimal Currency Bill was presented to Parliament on 1 March 1967 Ôto provide for the introduction of a decimal currency in the year 1971Õ. It also set out the role and functions of the Decimal Currency Board.

5. During the debates in Parliament, not one single MP spoke against decimalisation (and only two speakers in the Lords.)

6. The chosen coin denominations went in the normal decimal sequence Ð 1/2, 1, 2, 5, 10 and 50.

7. The obvious gap in this sequence was the lack of a 20p. Although the Halsbury Committee recommended this denomination, the Government was not convinced and decided not to issue such a coin immediately. A 20p piece was finally added to the coinage in 1982.

8. Opinion was divided on the choice of name for the decimal minor unit Ð but eventually the Government plumped for ÔpennyÕ in preference to ÔcentÕ.
To avoid confusion between the old and new coinage, the Government proposed that the unit be referred to as a Ônew pennyÕ, although the ÔnewÕ was soon dropped in everyday cash transactions after D Day.

9. The ten-shilling note, with an average life of only four to five months, was replaced by a longer lasting 50p coin.
The distinctive seven-sided 50p involved more research and consultation than any other previous coin in UK coinage history. It was the worldÕs first seven-sided coin. Other early options for the 50p included coins with four, 10 and 12 sides.

10. In 1966 a public competition was announced for the reverse designs of the new coins with more than 80 entrants submitting about 900 designs. These designs were examined by the Royal Mint Advisory Committee (which meets to consider all United Kingdom coin designs before making recommendations to the Chancellor of the Exchequer.)

11. To make D Day as smooth a transition as possible some new coins were phased in beforehand (the 5 and 10p in April 1968 and the 50p in October 1969).

12. UK coins have often been given nicknames. One man wrote to a newspaper suggesting that the 10p be called a ÔpodÕ because it had 10ps (peas) in it.

13. Half-crowns, having no satisfactory decimal equivalent, were progressively withdrawn from circulation during 1969 and ceased to be legal tender from 1 January 1970. The halfpenny was similarly withdrawn and demonetised from 1 August 1969.

14. February was chosen for Decimal, or D, Day because it was the most convenient for banks, shops and transport organisations, being the slackest time of year but with staff not away on holiday.
Mid-February was preferred to the beginning because it was more convenient for the banks Ð business in bank pipelines was at its lowest mid month.
Monday was the obvious day of the week because it left the weekend clear to deal with last minute preparations.

15. The decision to introduce a decimal currency meant striking hundreds of millions new coins in readiness for D Day Ð a task that was way beyond the capacity of the existing mint at Tower Hill.
In April 1967 the Government announced its plans to build a new Royal Mint at Llantrisant in South Wales. This was the only way the Government could prepare for decimal currency and continue production for overseas customers from Tower Hill.
The new Mint was officially opened by the Queen in December 1968 to begin production of decimal bronze coins. More than 50 million coins a week were soon being struck there.

16. The Decimal Currency Board drew up price conversion tables to determine the decimal equivalents of amounts in £sd.

17. First published in 1968, there were 25 issues in all of a four page newsletter by the Decimal Currency Board. Altogether there were five million newsletters. Distribution of other Board publications, including booklets, conversion tables, wallcharts and poster sets, also reached many millions.

18. 850 talks were given over three and a half years by Board staff, 70 per cent of them outside Greater London.

19. The attempt to deliver a special booklet about decimalisation to every home in the country was hampered by a postal strike.

20. The banks were closed from 3:30 pm on Wednesday 10 February 1971 until 10:00 am on D Day.

21. BritainÕs first decimal cash transactions probably took place on a cross channel ferry which left Dunkirk for Dover just after midnight on Saturday 13 February Ð some transport systems went ÔdecimalÕ early to ease the way.

22. D Day itself was considered to be something of an anti-climax and was even described as the non-event of 1971 as the changeover was so smooth.

23. Cheques written in £sd from 15 February 1971 were invalid.

24. A Royal Proclamation on 28 July 1971 redenominated the crown, double-florin, florin, shilling and sixpence as 25p, 20p, 10p, 5p and 2.5p respectively. This meant that these pre-decimal coins could still be used.
The old pennies and threepenny bits could not be used as money after 31 August 1971 but within two weeks of D Day they had effectively ceased to circulate anyway.
The old sixpence was demonetised in 1980 and the decimal 1/2p was eventually withdrawn in December 1984.

25. A pop song called ÔDecimalisationÕ was brought out Ð but never made the top twenty!



NOTE TO EDITORS: In conjuction with the Bank of England, the Royal Mint is holding a special exhibition at the Bank of England to mark the 25th anniversary of decimalisation. Exhibits include some of the original designs for decimal coins and early versions of the coins we are now familiar with today. There are also displays of publicity posters, press advertisements and special booklets as well as some of the more unusual souvenir items produced at the time. The exhibition runs from February 15 to September 16, and is open Monday to Friday from 10:00 am to 5:00 pm. Admission is free.