Week 185 - When Britain converted...

[Danielle C.]

QUESTION:

 

When Britain converted to a decimal coinage in 1971, why were the old shillings and florins permitted to continue circulating?

 

Good luck!

 

Our first place winner will receive an October Census Report. A prize will be given to a randomly selected participant with the correct answer.

 

 

REMINDER: The Numisma-Quest ends/ended on Saturday at midnight EST. Entries after that time will not be valid. See the Trivia Info post for more details.

When you post your answer, only the administrators can see it. Stop back each Monday. We will make all the posts visible and announce the winners .

[Weather11-migration]

They were still allowed because they could be easily converted to the decimal system.

[BankNote1]

The coins were still "legal tender"???

[jayjay2789]

THey added the word "new" to the new currency, leaving the values the same. so 240 of the old pennys were equal to one pund while the new pennys were out of 100

[jayjay2789]

THey added the word "new" to the new currency, making the values of the new coins different but still in relation to the economy. so 240 of the old pennys were equal to one pund while the 100 new pennys were one pound. This allowed for both currencies to be kept the same while graduially changing the currency.

[TJ]

Because the queen said so.

[jtryka]

Because they fit in easily with the new decimal system, as a florin was a tenth of a pound (or 2 shillings) which was equal to 10 new pence and a shilling was a twentieth of a pound, or 5 new pence. The other coins would have been odd denominations in the new decimal system.

[Merc]

Shillings were 1/20 of a pound and Florins were 1/10 of a pound. They were already metric system compatable coins.

[mhardin2413]

because they were redefined in terms of a 100p pound. and of course, the british, even more so than the americans, see their currency as the sign of utter stability in the realm, so any devaluation would be tantamount to blaspheming the queen.

[JamminJ]

Because the shilling anf florin were worth 10 and 20 new pence, respectively.

[Ed Daggett]

They were used in many coin operated electric and coal meters.

[Danielle C.]

QUESTION:

 

When Britain converted to a decimal coinage in 1971, why were the old shillings and florins permitted to continue circulating?

 

ANSWER:

 

They were equivalent in value to two of the new coins

 

 

Congratulations again , Jtryka!! You will be receiving a copy of the 2005 October Census Report.

 

JamminJ is our runner up winner, you will be receiving a display box.

 

 

Thanks for playing and stop back next week for another question. Keep up the good work