What is decimalisation? Our current decimalised system of currency was introduced to make the tendering of money much simpler, and to bring it in line with similar currencies around the world, easing the process of international trade. ... The new currency was based on 100 pennies to the pound.

What was the reason for decimalisation?

Currency converters were available for everyone, and prices in the shops were shown in both currencies. This went some way to alleviate the feeling many people had, that shopkeepers might use the conversion from old money to new to increase prices! 'Decimal Day' ran without a hitch.

Why did we change from shillings to pounds?

Most banks and businesses wanted a shilling system, with ten shillings as the basic unit. But the Bank of England was adamant that to preserve sterling's international reputation, Britain must stick with the pound. By 1968, the changeover was underway.