The History and Value of Pre-Decimal Coins and Banknotes

For over a century, pre-decimal coins and banknotes were the everyday money of Britain. From the farthing to the ten shilling note, these coins and notes were part of daily life — until the switch to decimal currency in 1971.

While pre-decimal money is no longer legal tender, millions of coins and notes still remain in drawers, tins, and collections. The big question is: what should you do with them today?

The answer is simple: exchange them with a trusted service like Cash4Coins to unlock their value quickly, securely, and hassle-free.

A Brief History of Pre-Decimal Currency

Before 1971, the UK’s monetary system was based on pounds (£), shillings (s), and pence (d). The system looked like this:

Currency	Value	Modern Equivalent
1 Farthing	¼ penny	No modern equivalent
1 Halfpenny	½ penny	No modern equivalent
1 Penny	1d	About 0.4p
1 Shilling	12d	5p
1 Florin	24d (2s)	10p
1 Half Crown	30d (2s6d)	12.5p
1 Crown	60d (5s)	25p
1 Pound	20s (240d)	£1

Decimalisation in 1971 simplified everything: £1 = 100 new pence. But the old coins and notes suddenly became obsolete, leaving many people with money that could no longer be spent.

Which Pre-Decimal Notes Were in Use?

The most common pre-decimal banknotes included:

• 10 Shilling Note (Ten Bob Note)

• £1 Note

• £5 Note

• £10 Note

• £20 Note

• £50 Note (rare)

Many of these have now become collector’s items — especially if in good condition.

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Should You Keep or Exchange Pre-Decimal Currency?

You have two main options with old coins and notes:

Option	Pros	Cons
Keep them as collectables	Historic, sentimental, potential collector value	Value depends on rarity/condition, most are worth face value or less
Exchange with Cash4Coins	Instant payment, all coins accepted (even damaged)	Collector value is not considered

If you have rare coins (e.g., limited mint runs, proof sets, error coins), they may fetch a higher price from a specialist dealer. But for the vast majority of pre-decimal money, exchanging is the fastest way to realise value.

How to Exchange Pre-Decimal Coins and Notes

1. Gather your coins and notes – old pennies, sixpences, ten shilling notes, etc.

2. Send them to Cash4Coins – It’s fast and easy.

3. We count and process them – using professional sorting and valuation equipment.

4. Get paid fast – directly into your bank or donated to a charity of your choice.

It’s simple, safe, and you’ll know exactly what your old money is worth.

Why Choose Cash4Coins?

• Trusted by major UK charities, banks, supermarkets, airports, and police forces

• Accepts all pre-decimal money — coins and notes, even damaged or corroded

• Fast turnaround, with payment typically within 48 hours

• Option to donate directly to charity

• Transparent, reliable, and secure

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FAQs About Pre-Decimal Money

1. Can I still use pre-decimal coins in shops?

No. Pre-decimal coins and notes were withdrawn in 1971 and cannot be used for payment today.

2. Will a bank exchange pre-decimal money?

No. Banks, including the Bank of England, no longer redeem pre-decimal currency. Only decimal notes withdrawn after 1971 are still exchangeable at the Bank of England.

3. Do you accept damaged coins or notes?

Yes. Even if coins are worn, bent, or corroded, they can still be processed by Cash4Coins.

4. What are pre-decimal coins worth to collectors?

Some rare coins (proof sets, mint errors, certain monarchs) may have extra collector value. Most ordinary coins are worth only face value or less, making exchange the best option.

5. How quickly will I get paid?

Most payments are made within 48 hours of receiving and processing your coins and notes.

6. Do you exchange foreign coins and notes?

Yes, we exchange all foreign coins and notes.

Final Thoughts

Pre-decimal coins and banknotes are a fascinating part of Britain’s financial past — but for most people, they’re simply gathering dust. By exchanging them with Cash4Coins, you can quickly unlock value, whether you want extra cash in your account or to donate to charity.

 

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