Decimal Day Board. Consideration was given to introducing a new major unit of currency worth ten shillings in the old currency: suggested names included the "new pound", the "royal" and the "noble". This would have resulted in the "decimal penny" being worth only slightly more than the old penny (this approach was adopted, for example, when South Africa, Australia and New Zealand decimalised in the 1960s, adopting respectively the South African rand, Australian dollar and New Zealand dollar equal in value to 10 shillings). But Halsbury decided, in view of the pound sterling's importance as a reserve currency, that the pound should
Guernsey pound than the modern version and the diameter also measured slightly less. The 1-pound coin ceased to be legal tender on 15 October 2017 to coincide with the withdrawal of the circular £1 coin in the UK. The UK's new twelve-sided £1 coin will be the only £1 coin that is legal tender on the island. The first decimal issues continued with the same obverse as the last pre-decimal issues until 1985, when Raphael Maklouf's portrait of Queen Elizabeth II was added. Ian Rank-Broadley's portrait of the Queen has appeared since 1998. Designs on the reverses of Guernsey's decimal coins are: