Britain to get its old money back

A return to pounds, shillings and pence is on the cards once Britain leaves the EU

"Imperial" notes and coins will come back into circulation at this time next year, once the UK leaves the EU, thanks to an Exeter campaigner. 

Before Britain went into the Common Market, money consisted of pounds, shillings and pence - with twenty shillings in the pound, and twelve old pence, which in future will be called new new pence, in the shilling. Pounds were better value, with 240 pence in them.

The Federation of Official Levies says that, as in 1971, some coins will be kept, but given new values. The 50 pence piece will be worth 60 pence, or a quarter of a pound, and renamed the quarter, in recognition of Britain's special relationship with the US.

Decimilization caused much angst, especially amongst older people, on 15 February 1971, as the changes were subject to a Big Bang, introduced on one day, rather than gradually. Many people found the abolition of shillings and 10 bob notes confusing, causing the government to issue ready reckoners - and schools to send primary school teachers on emergency courses to get to grips with the concept. The makers of Monopoloy and toy tills had to redesign their products, eradicating guineas.

The shilling coin - then 12 pence, was kept, but became worth five pence. Thruppenny bits bit the dust. Ha'pennies were kept, but didn't survive the Thatcher years. They went a month after the pound note in 1984. 

Now Exeter resident Lila Froop has garnered enough online support to bring them back. The idea has generated mixed reactions, roughly split on Remain and Leave lines.

One leading Brexiteer is thrilled, telling Radio Exe: "What's the point of leaving Europe if we can't get back control of our own money. Its thanks to the fact we didn't go into the Euro that we can now bring back farthings. The pound in your pocket is going to get bigger."

The Federation of Offical Levies is working on a set of new old notes and coins.

They'll then turn their attention to weights and measures, making it illegal to sell milk or petrol in litres. From next year, schools sports days will revert to hundred yard dashes. The 100-metres will be banned, except in European competitions. The Federation is publishing a consultation pamphlet which will be available online for three and sixpence.