1971: Decimal Day and the end of gold-backed money

On 15 February 1971 – Decimal Day – the United Kingdom replaced its pound of 20 shillings and 240 pence, a system going back to Charlemagne, with a pound of 100 new pence. In August of the same year, President Nixon ended the convertibility of the US dollar into gold.

Since then, coins everywhere are tokens whose value rests on trust rather than metal. For collectors, the last pre-decimal British coins and the first decimal sets are popular, but most were made in huge numbers and are worth little – condition and rare varieties make the difference.

Find out what your own coin is worth – Coin Value English

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