Coins of the Maltese lira Coins of the Maltese lira Coins of the Maltese lira have been struck from when Malta adopted decimal currency in 1972, to 2007, after which Malta adopted the euro. There were 10 mils in one cent, and 100 cents in one Maltese lira. The coins in this series replaced the pre-decimal Pound Sterling which had been in use in Malta since 1825. Therefore, the sizes for some coins were similar to their pre-decimal equivalents, for example the 5c was similar to the shilling and the 10c to the two shillings. These coins were designed by Christopher Ironside OBE. In June
Pound sterling Later, in 1966, the British government decided to include in the Queen's Speech a plan to convert the pound into a decimal currency. As a result of this, on 15 February 1971, the UK decimalised the pound sterling, replacing the shilling and penny with a single subdivision, the new penny. For example, a price tag of £1 12s 6d became . The word "new" was omitted from coins minted after 1981. With the breakdown of the Bretton Woods system, the pound floated from August 1971 onwards. At first it appreciated a little, rising to almost $2.65 in March 1972 from