Shillings officially stopped being legal tender on 31 December 1990.
The transition from the old currency system (pounds, shillings, and pence) to decimal currency in the United Kingdom was a significant event. The decision to decimalise was announced in 1966, establishing that the pound would be redivided into 100 pence instead of the previous 240 pence.
This change culminated in Decimal Day, which took place on 15 February 1971. On this date, a whole range of new decimal coins was introduced to replace the pre-decimal ones.
However, not all old coins were immediately removed from circulation. Some, like the shilling, which had a value equivalent to 5 new pence in the decimal system, continued to be accepted as legal tender alongside the new coins.
According to the provided reference, shillings remained legal tender with this value until 31 December 1990. After this date, they were no longer considered valid currency for transactions.
Key Timeline of the Shilling's End
Below is a simplified timeline showing the key dates related to the shilling and decimalisation:
| Event | Date | Significance |
|---|---|---|
| Decimalisation Announced | 1966 | Decision made to move to 100 pence per pound |
| Decimal Day | 15 February 1971 | New decimal coins introduced |
| Shillings Remain Legal Tender | Until 31 Dec 1990 | Circulated alongside new currency (value 5p) |
| Shillings Cease Legal Tender | 31 December 1990 | No longer valid for payment |
Understanding the Transition
The period between Decimal Day in 1971 and the end of 1990 saw the shilling used interchangeably with the 5p coin, as they were the same size and value. This allowed for a smoother transition for the public as they adjusted to the new decimal system.
- 1966: The countdown to decimalisation begins.
- 1971: New pence coins (1p, 2p, 5p, 10p, 50p) are introduced. The shilling (12 old pence or 5p) and the Florin (two shillings or 10p) continue to circulate.
- 1990: The shilling coin officially loses its status as legal tender.
This phased approach helped millions of people adapt to the new currency system over nearly two decades.
