Australian pound became $1 and 1s became 10c. The conversion rate was problematic for the pre-decimal penny since the shilling was divided into twelve pence. An exchange rate of $2.40:£1 would have allowed for accurate conversion down to the penny, with one penny becoming one cent; however, the Government thought it more important that the new currency unit be more valuable than the United States dollar which it would not have been under a 2.4:1 ratio. Amounts less than a shilling were converted as follows: In 1855, gold full and half sovereigns (worth respectively one pound sterling and ten shillings) were first
Halfpenny (British pre-decimal coin) early reign of Elizabeth II, bearing the inscription in 1953, and thereafter. wikt:ha'porth: Northern British English, from British English "half-penny’s worth", often used in the phrase "daft ha’porth". Halfpenny (British pre-decimal coin) The British pre-decimal halfpenny (d) coin, usually simply known as a halfpenny (pronounced ), historically occasionally also as the obol, was a unit of currency that equalled half of a penny or of a pound sterling. Originally the halfpenny was minted in copper, but after 1860 it was minted in bronze. It ceased to be legal tender in 1969, in the run-up to decimalisation. The halfpenny featured two