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
Non-decimal currency accounting, because amounts are written down and calculated using the decimal numeral system (but when another numeral system is used, such as the vigesimal system that was common among ancient Mesoamerican civilizations or the sexagesimal system used by the ancient Mesopotamians, this advantage disappears). However, decimalised currencies also have disadvantages. The principal advantage of most non-decimal currencies is that they are more easily divided, particularly by numbers such as 3 and 8, than decimal currencies. A currency with 100 minor units to the major unit is divisible neither into 3 nor into 8, and furthermore 100 may be an uncomfortably