Question 1

What was the pre-decimal British currency system?

Accepted Answer

Before 1971, Britain used pounds (£), shillings (s), and pence (d). There were 12 pence in a shilling and 20 shillings in a pound, making 240 pence per pound.

Question 2

Why did Britain switch to decimal currency?

Accepted Answer

The decimal system (100 pence = 1 pound) was adopted on February 15, 1971 (Decimal Day) for easier calculations and international trade compatibility.

Question 3

What were common pre-decimal coins?

Accepted Answer

Common coins included farthing (¼d), halfpenny, penny, threepence, sixpence, shilling (bob), florin (2s), half-crown (2s 6d), and crown (5s).

Question 4

How do I convert old British prices to modern money?

Accepted Answer

First convert to decimal (1s = 5p, £1 = 100p), then adjust for inflation. A 1970 pound equals roughly £15-20 today in purchasing power.

Pre-Decimal British Currency Converter

Frequently Asked Questions

Explore Financial Toolset

Compound Interest Calculator

Mortgage Calculator

Debt Payoff Calculator

Retirement Calculator