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The Australian penny was a coin of the Australian pound, which followed the £sd system. It was used in the Commonwealth of Australia prior to decimalisation in 1966. One Australian penny was worth 1 ⁄ 12 Australian shilling , 1 ⁄ 24 Australian florin , 1 ⁄ 60 Australian crown , and 1 ⁄ 240 Australian pound .
A year later Australian pennies and half-pennies entered circulation. Unlike in New Zealand, there was no half-crown. In 1931 gold sovereigns stopped being minted in Australia. A crown or five-shilling coin was minted in 1937 and 1938. Coinage of the Australian pound was replaced by decimalised coins of the Australian dollar on 14 February 1966 ...
English shilling = 1/1 (1 shilling and 1 penny). Copper coin of 1 oz = 2 pence. [2] The settlers did have some George III one-penny coins, which were referred to as "Cartwheel pennies". These were the first British coins to be officially exported to the Australian colonies, and so can be considered Australia's first official coins.
The Australian pre-decimal halfpenny coin, commonly known as a ha’penny (pronounced / ˈ h eɪ p ə n i /), [1] was the smallest denomination of the Australian Pound in circulation. It was a unit of currency that equalled half of a penny, 1 / 24 of a shilling, or 1 / 480 of a pound. [ 2 ]
The Deakin government's Coinage Act 1909 [3] distinguished between "British coin" and "Australian coin", giving both status as legal tender of equal value. The Act gave the Treasurer the power to issue silver, bronze and nickel coins, with the dimensions, size, denominations, weight and fineness to be determined by proclamation of the Governor-General.
The London Chartered Bank of Australia (from 1893 the London Bank of Australia) was an English-run Australian bank which operated from 1852 to 1921. [1] History
The weight when in bulk caused problems for business; the London Passenger Transport Board received 6,000 tonnes of pennies, halfpennies and farthings a year. [15] A reduction of size for the penny was deemed impractical, given the time it would take to recoin the 3,000,000,000 pennies in circulation, and because many automatic machines that ...
A sixpence of 1951, with the reverse side on the left. The Australian sixpence circulated from 1910 up until the decimalisation of Australian Currency in 1966. The coins were initially minted in England; however, Australia began to mint their own from the year of 1916 at branches of the Royal Mint in Sydney and Melbourne. [1]