Decimalisation

Decimalization was the process of coverting the United Kingdom's system of pounds, shillings, and pence to a decimal system of units with 100 "new pence" to a pound, which kept the same value as before.

As there were previously 20 shillings each or 12 pence in a pound, each "new penny" was worth exactly 2.4 old pence, and 5 new pence was equivalent to an old shilling. In particular, 10 new pence was equivalent to a florin.

Children found this easy to grasp; many old people struggled to adapt to the new system.