The need for a decimal currency system had been discussed in Parliament in the early nineteenth century and as far back as 1849 a florin was introduced - inscribed 'one tenth of a pound' with the intention that it should be the first step towards the adoption of a decimal system. Over a century later, on the 1 March 1966, the Chancellor of the Exchequer, James Callaghan announced that the old �sd system would be replaced by a decimal currency in which the pound was to be divided into one hundred units. Although fiercely challenged the change was confirmed by the Decimal Currency Act of 1967.
Recognising that the enormity of the change would affect every business and household in the country the Government proposed a five-year preparatory period before the changover in 1971. To supervise this change-over the Decimal Currency Board was established and one of the decisions of the Board was to calm fears, especially from older members of the community. It did this by providing information to the public in newspapers and magazines, and by producing millions of pamphlets. The Board kept in regular contact with the Royal Mint, the Bankers Association as well as a host of other organisations concerned.
To issue a new coinage was not easy. Not only had new dimensions to be found but the coins had to be distinguishable by sight and touch from each other and from those �sd coins already in existence. At the same time there was a desire to take advantage of the change to make the coinage smaller and lighter. For the obverse, a new portrait of the Queen by Arnold Machin had been prepared in readiness, and, in November 1966 a series of designs by Christopher Ironside was approved and unveiled in February 1968.
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During the period between 1967 and 1971 certain �sd coins were withdrawn and certain new decimal coins were phased into circulation. The first of the new coins, the 5p and 10p were introduced in April 1968, corresponding exactly in size and value to the shillings and florins, and circulating alongside for some time. In October 1969 the 50p coin joined the 5p and 10p coins in circulation.
With the introduction of the 5p, 10p and 50p the public were becoming familiar with three of the six new coins. The remaining three coins to be introduced 1/2p, 1p and 2p were finally issued on the 15th February 1971. D-Day meaning in this instance Decimal Day.
The decision to introduce a new decimal currency meant striking hundreds of millions of coins in readiness for D-Day - a task that was beyond the capacity of the existing mint at Tower Hill. In accordance with Government policy of moving industry away from the capital, sites for a new Mint were considered and finally the Government announced in April 1967 that a new Royal Mint would be built in South Wales.
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