Decimal Day and 10p coin equivalents, co-existed in circulation as valid currency until the early 1990s. In theory this included coins dating back to 1816; in practice the oldest were dated 1947, when these coins stopped containing silver. The coins were withdrawn when smaller 5p and 10p coins were introduced in 1990 and 1992 respectively. The face value of Maundy money coins was maintained, increasing all their face values by a factor of 2.4, as the coins continued to be legal tender as new pence. The numismatic value of each coin, though, greatly exceeds face value. The decimal halfpenny (p), introduced in
Decimal Day Ireland operated within the Sterling Area, effectively a single monetary area. The Irish pound had come into existence as a separate currency in 1927 with distinct coins and notes, but the terms of the Irish Currency Act obliged the Irish currency commissioners to redeem Irish pounds on a fixed 1:1 basis, and so day-to-day banking operations continued exactly as they had been before the creation of the Irish pound (). This state of affairs continued until 1979 when Irish obligations to the European Monetary System forced them to break the historic link with Sterling. In Ireland, all pre-decimal coins, except