day in 1971 when the United Kingdom and Ireland decimalized their currencies
Decimal Day is the name that was given to 15 February 1971 in the United Kingdom (UK). It was the day that the UK decimalised (converted to a decimal-based system of currency). Before that date the UK used the "pound (£) - shilling (s) - pence (d)" currency system. The old system was known as the "£sd" system, after the abbreviations of the unit names. £sd is pronounced L-S-D. In the £sd system £1 = 20s and 1s = 12d, so £1 = 240d. In the new decimal system there are no shillings and there are 100 (new) pence (abbreviated as "p") in a pound - so £1 = 100p.
- ↑ "Celebrating 40 Years of Decimalisation". The Royal Mint. Retrieved 13 March 2014.