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
Halfpenny (Irish pre-decimal coin) Halfpenny (Irish pre-decimal coin) The halfpenny (d) () coin was the second smallest denomination of the pre-decimal Irish pound, worth of a pound or of a shilling. First issued in 1928 it ceased to be legal tender on 1 August 1969. The coin measured in diameter and weighed 5.66990 grams. The bronze coin was made up of 95.5% copper, 3% tin and 1.5% zinc. This was identical to the British halfpenny as both countries' pounds were pegged until 1979. The reverse design was by Percy Metcalfe, an English artist. The artist was given the choice of a boar, a sow