Manx pound for the island since 1865. In 1971 the United Kingdom moved to a decimal currency, with the pound subdivided into 100 pence. The Isle of Man Government, having issued its own banknotes for ten years, took the opportunity to approach the Royal Mint and request its own versions of the decimal coins, which were introduced in 1971. The "Murrey Pennies" of 1668 were the first to depict the 'triskeles' symbol and the Island motto ""Quocunque Gesseris Stabit"" (sic), both of which have continued to feature on Manx coinage until the present day (the motto was corrected to ""Quocunque Jeceris Stabit""
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.