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
History of coins in Italy worth 40 quattrini, in circulation. The Lombardy-Venetia florins were the coins of Lombardy-Venetia (reduced to the sole Venetia three years before) between 1862 and 1866. It replaced the pound at a rate of 1 florin = 3 pounds. The florin was equivalent to the Austro-Hungarian gulden (also called the florin). Although it was subdivided into 100 "soldi" rather than 100 Kreuzer, Austrian coins circulated in Venetia. The only coins issued specifically for Venetia were copper ½ and 1 soldo pieces. The lira was made the official currency of Italy in 1861 after the Italian unification, however stopped being used in