BBC Radio 4 - Decimal Day

[Accumulator 52]

I posted this way down below as a reply in the "Nothing whatsoever to do with coins area" as it was relevant to the discussion, but as it's easily missed I thought it worth posting here too. There was an interesting programme on Radio 4 today 'Decimal Day', which is worth a listen.

You can hear it again at: BBC Decimal Day

[Accumulator 52]

Try again with the link: BBC - Decimal Day

[Peckris 579]

I posted this way down below as a reply in the "Nothing whatsoever to do with coins area" as it was relevant to the discussion, but as it's easily missed I thought it worth posting here too. There was an interesting programme on Radio 4 today 'Decimal Day', which is worth a listen.

You can hear it again at: BBC Decimal Day

Thanks for that - I'll listen to it when I have an hour to spare! (Warning - your link is a double http:// which needs one of them removing, then it works)

[Accumulator 52]

I posted this way down below as a reply in the "Nothing whatsoever to do with coins area" as it was relevant to the discussion, but as it's easily missed I thought it worth posting here too. There was an interesting programme on Radio 4 today 'Decimal Day', which is worth a listen.

You can hear it again at: BBC Decimal Day

Thanks for that - I'll listen to it when I have an hour to spare! (Warning - your link is a double http:// which needs one of them removing, then it works)

It's worth the hour... especially if you remember those days! I happened to be in the car so combined listening with driving! Re the link, I realised the mistake as soon as I posted but wasn't allowed to edit it for some reason. The second link should work though.

[Peckris 579]

The second link should work though.

Grr, my guide dog didn't point me to that one.

[RobJ 0]

Thanks for the Link Accumulator.

It sounds most interesting.

[1949threepence 3,367]

Try again with the link: BBC - Decimal Day

Thanks Accumulator ~ that is something I will really look forward to listening to

on February 15th 1971 and said goodbye to coins such as the crown, the florin and the shilling.

Although I wonder if they meant the half crown, as the Crown was not a circulating coin in February 1971.

[josie 8]

Just posting.

http://www.royalmint.com/Corporate/policies/legal_tender_guidelines.aspx

I dont know what is the legal tender before 1971.

Crown is still legal tender then but not use in circulation but an agreement that the silver penny will stay so all silver and gold coin are still legal tender,but not use in circulation just there denomination in low metal and in banknote,just a comment,UKGB can change its coinage and currency as they choose with all its history till present,just an opinion.

[Peckris 579]

Try again with the link: BBC - Decimal Day

Thanks Accumulator ~ that is something I will really look forward to listening to

on February 15th 1971 and said goodbye to coins such as the crown, the florin and the shilling.

Although I wonder if they meant the half crown, as the Crown was not a circulating coin in February 1971.

Technically we didn't say goodbye to any of those 3 as florins and shillings remained legal tender, and commemorative Crown-size coins continued to get issued. Nor did we wave 'bye bye' to any coins on 15 February 1971 as that was D-Day 1 and the overlap period lasted until D-Day 2 (August 31?). And even then, the only things we couldn't spend any more were the penny and brass 3d.

[josie 8]

Nice ratio.

1/240 just like number of scetta to a pound or number of ass to a sceatta,1/15 1/20 1/24 or number of grams to reach 240 or what pound they use roman to caroligan,just a comment.

[1949threepence 3,367]

Try again with the link: BBC - Decimal Day

Thanks Accumulator ~ that is something I will really look forward to listening to

on February 15th 1971 and said goodbye to coins such as the crown, the florin and the shilling.

Although I wonder if they meant the half crown, as the Crown was not a circulating coin in February 1971.

Technically we didn't say goodbye to any of those 3 as florins and shillings remained legal tender, and commemorative Crown-size coins continued to get issued. Nor did we wave 'bye bye' to any coins on 15 February 1971 as that was D-Day 1 and the overlap period lasted until D-Day 2 (August 31?). And even then, the only things we couldn't spend any more were the penny and brass 3d.

Yes, but Crowns weren't a circulating coin then, despite the commemorative issues. You most likely would never have received say, a Churchill Crown, in your change.

[1949threepence 3,367]

Just listened to the programme in its entirety. Absolutely fascinating.

Several things struck me. Firstly the broadcasting style of the day was slightly different to today ~ a tad more formal and patronising perhaps. The reference to a couple of actual individuals interviewed as "Mr & Mrs Average" would probably not go down well these days, as it might be perceived as slightly insulting. On the plus side the 1971 style was logically sequenced, easy to follow, with crystal clear voices and no hard to understand regional accents.

Secondly, it was no surprise to hear that the switch went very smoothly in the end, making the build up look like slight overkill. I'm sure that the great majority of people would have had absolutely no problem with the conceptualisation of decimal currency, which obviously is much easier from a calculating point of view. Imagine the problems if the switch had been the other way round

The inflation question was intriguing. Should they have gone for 10 shillings as the base unit, which would have meant 120 to 100, instead of 240 to 100 ? Was decimalisation responsible for 1970's inflation ? Edward Heath clearly thought it was, at least in part. Peter Jay put the blame on Heath and then Chancellor Barber, for massively increasing the money supply (quantitative easing, anyone ?), whilst I have always understood the primary reason to be the astronomic oil price hike in the Autumn of 1973.

Always having been good at figures, I'd like to have seen that 1965 maths paper they were going on about, and had a bash at £sd calculations.

Edited February 12, 2011 by 1949threepence

[Peckris 579]

Technically we didn't say goodbye to any of those 3 as florins and shillings remained legal tender, and commemorative Crown-size coins continued to get issued. Nor did we wave 'bye bye' to any coins on 15 February 1971 as that was D-Day 1 and the overlap period lasted until D-Day 2 (August 31?). And even then, the only things we couldn't spend any more were the penny and brass 3d.

Yes, but Crowns weren't a circulating coin then, despite the commemorative issues. You most likely would never have received say, a Churchill Crown, in your change.

Well you're right, the Crown as Crown wasn't a circulating coin - simply a commem as you say. And so it continued to be (same size, same value, just different name) starting in 1972. So technically, it didn't disappear as such - was there even an order in Parliament for its demonetisation?

The inflation question was intriguing. Should they have gone for 10 shillings as the base unit, which would have meant 120 to 100, instead of 240 to 100 ? Was decimalisation responsible for 1970's inflation ? Edward Heath clearly thought it was, at least in part. Peter Jay put the blame on Heath and then Chancellor Barber, for massively increasing the money supply (quantitative easing, anyone ?), whilst I have always understood the primary reason to be the astronomic oil price hike in the Autumn of 1973.

Always having been good at figures, I'd like to have seen that 1965 maths paper they were going on about, and had a bash at £sd calculations.

I've long held that it could not have been, for several reasons :

1. It occurred for only a short period in 1971 (infaltionary pressures are either longer term, or really dramatic e.g. oil prices)

2. 'Rounding up' couldn't have affected more than the last 1/2p of any price - so the effect would have been trivial

3. The regional Weights & Measures people, and local authorities, were very watchful to prevent price abuse

4. Natural competition would have made those who 'rounded down' more frequented and successful than those who 'rounded up'

5. The policies of the Heath Government were naturally inflationary, e.g. money supply and wages policies

6. The Arab/Israeli wars, price of oil, etc, had a far far greater effect

7. .Strikes also caused a lot of inflation