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The British decimal one penny (1p) coin is a unit of currency and denomination of sterling coinage worth 1 ⁄ 100 of one pound.Its obverse featured the profile of Queen Elizabeth II since the coin's introduction on 15 February 1971, the day British currency was decimalised, until her death on 8 September 2022.
Each new penny was worth 2.4 old pence ("d."). A coin of half a new penny, a halfpenny, was introduced to maintain the approximate granularity of the old penny, but was dropped in 1984 as inflation reduced its value. An old value of 7 pounds, 10 shillings, and sixpence, abbreviated £7-10-6 or £7:10s:6d. became £7.52 1 / 2 p. Amounts ...
The introduction of decimal currency caused a new casual usage to emerge, where any value in pence is spoken using the suffix pee: e.g. "twenty-three pee" or, in the early years, "two-and-a-half pee" rather than the previous "tuppence-ha'penny". Amounts over a pound are normally spoken thus: "five pounds forty".
So one new penny was worth the same as 2.4 old pence, and the new halfpenny (later withdrawn) was worth 1.2 old pence. As for whether you could still use old pennies for a time after D-day, I believe so but I was not around then. How was the rounding worked out? E.g. could you pay for something costing 8 new pence with, say, a new 5p piece ...
Because the term "new penny" was defined in law, a change in the law would be needed for coins to keep up with common parlance. The Act changed the definition in the 1967 Act so that the denominations of money in the currency would be the "pound sterling and the penny or new penny", [3] with the word "New" being with the value of the coin (e.g.
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In 1971, a new penny would have been worth 9.6 farthings (making a farthing slightly more than 0.1 new pence). Similarly, the old halfpenny and the half-crown were not converted [clarification needed] in the UK either, [citation needed] having been withdrawn in the run-up to decimalisation, although the half-crown was worth exactly 12 1/2 new ...
The rounding provided in the result is by default two decimal places but can be modified in the "round" parameter. For example, the Mad Hatter's hat is worth 10/6, which is £{{£sd|s=10|d=6}} = £0.53. The parameters are as follows: l - The number of pounds; s - The number of shillings; d - The number of pence; g - The number of guineas; m ...
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