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
Luccan pound Luccan pound The pound (Italian: "lira") was the currency of the Republic of Lucca until 1800 and again of the Duchy of Lucca between 1826 and 1847. It was subdivided into 20 shillings (Italian: "soldi"), each of 3 "quattrini" or 12 pennies (Italian: "denari"). The pound circulated until 1800, when the French franc was introduced, accompanied by the Luccan franc from 1805. After Napoleon's fall, the Luccan State remained without an official currency, using both old francs and Tuscan pounds and florins. The Luccan pound reappeared in 1826 by order of Duke Charles Louis, replacing all circulating currencies. The Luccan