NiE 50 years of decimal currency

NiE 50 Years of Decimal Currency

It was the end of the British-style currency system based on pounds, shillings and pence and the start of decimal currency, introduced on February 14, 1966.  This year marks the golden anniversary of the inception of dollars and cents.

Even though the idea of decimal coinage in Australia had been debated since Federation (1901), it took many years before the decision to adopt the new system came about.

The new currency had a huge impact. It meant people had to rethink everyday money transactions- a two unit system replaced the three-unit system.

It also meant designing, producing and distributing new currency and stamps, converting monetary machines and training banking and retail staff.

To help educate everyone an intensive television and radio advertising campaign was launched with the "Dollar Bill" cartoon character centre-stage.

 

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