The old Australian pre-decimal currency, based on the British currency, changed over to decimal currency on the 14th of February, 1966.
The old currency was subsequently withdrawn from circulation very quickly, and within as little as six months, it was quite unusual to see any examples of the old currency in circulation, although the odd coin turned up here and there for years.
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Australia's predecimal currency of Pounds, Shillings and Pence was based very closely on the old predecimal British system.
There were 12 Pence to a Shilling and 20 Shillings to a Pound.
In keeping with many countries during the course of the 20th century, Australia decided to adopt a system of decimal currency which, as the title suggests, is based on 10.
A decimal based currency is much easier to do calculations in, and the currency itself was more streamlined.
The old British Imperial currency system of Pounds, Shillings and Pence, as used in Australia, was considered to outdated and cumbersome.
There were 12 Pence to the Shilling and 20 Shillings to Pound which did not make for quick and easy mental arithmetic.
A decimal system (based on 10) was considered to be better and easier so, after years of planning, Australia's decimal currency of 100 cents to the Dollar was introduced on the 14th of February, 1966.
Decimals currency, meaning dollars and cents, was introduced in Australia on 14 February 1966.