Fourpence (British coin) Fourpence (British coin) The pre-decimal fourpence (4d), sometimes known as a groat (from Dutch "grootpennig" = "big penny") or fourpenny bit, was a coin worth one sixtieth of a pound sterling, or four pence. The coin was also known as a joey after the MP Joseph Hume, who spoke in favour of its introduction. It was a revival of the pre-Union coin. Before Decimal Day in 1971 there were two hundred and forty pence in one pound sterling. Twelve pence made a shilling, and twenty shillings made a pound. Values less than a pound were usually written in terms of
Decimal Day use pennies or threepenny pieces, to pay them in multiples of 6d (p, the lowest common multiple of the two systems). Bus companies (at that time many state-owned by the National Bus Company) were another exception, going decimal on Sunday 21 February. Decimal Day itself went smoothly. Criticisms included the small size of the new halfpenny coin and the fact that some traders had taken advantage of the transition to raise prices. Some used new pennies as sixpences in vending machines. After 15 February, shops continued to accept payment in old coins, but always issued change in new coins. The