Gambian pound these were minted by the Royal Mint in denominations of 1, 3 and 6 pence, 1, 2 and 4 shillings, with 8 shillings added in 1970. All coins had Queen Elizabeth II's portrait on the obverse. The 8 Shillings coin of the Gambia is the only example of this denomination ever minted. With the exception of the Hippopotamus, the reverse designs of the pre-decimal coins were reused on the Gambia's decimal coins. On October 5, 1964, new banknotes were introduced by the Gambia Currency Board in denominations of 10 shillings, 1 and 5 pounds. All notes had a sailing boat
Currency Act 1982 Currency Act 1982 The Currency Act 1982 (c 3) is an Act of the Parliament of the United Kingdom. Following Decimal Day in 1971, when the British monetary system changed from pound/shilling/penny to the metric £1 = 100p system, the new currency was known as the "new pound" and therefore the "new pence". By 1982, the use of "new pence" was out of use, and replaced with "penny". The Act sanctions the use of "penny" rather than "new penny" in common usage, such as on coins produced by the Royal Mint. The Act covers England, Wales, Scotland and Northern Ireland.