In which year was Britain's currency decimalised?
Mill (currency) British pound under the "Pound and Mil" system, the mill was occasionally used in accounting. The 1862 report from the "Select Committee on Weights and Measures" noted that the Equitable Insurance Company had been keeping accounts in mills (rather than in shillings and pence) for such purposes for over 100 years. Such a unit of a thousandth of a pound would have been similar in value to the then-existing farthing coin ( of a pound). By the time British currency was decimalised in 1971, the farthing had lost its legal tender status eleven years prior, and thus the mill was
Non-decimal currency of the sub-unit are no longer used. The official currency of the Sovereign Military Order of Malta, which retains its claims of sovereignty under international law and has been granted permanent observer status at the United Nations, is the scudo. The scudo is subdivided into 12 tarì, each of 20 grani with 6 piccioli to the grano. It is pegged to the euro (at a rate of 1:0.24). All other contemporary currencies are either decimal or have no sub-units at all. Historically, the use of decimal sub-units was the exception rather than the rule. Decimalised currencies show an advantage in