Money Replay
AUSTRALIA · C-DAY · 14 FEBRUARY 1966

Pounds, Shillings and Pence to Dollars: Australia in 1966

Before C-Day, Australian records used pounds, shillings and pence. Under the 1966 rule, one pound became two dollars because the new dollar equalled ten shillings. Apply that rule before comparing prices.

This result is an estimate of the amount’s value at 2025 prices. Price comparisons use annual data through 2025. Only optional currency conversions use a recent exchange rate.

Reviewed:

How £sd worked before C-Day

One pound contained 20 shillings, and one shilling contained 12 pence. The pre-decimal system therefore had 240 pence to the pound.

Write the original amount in £sd before converting; otherwise an old penny can be mistaken for a modern cent.

14 February 1966: £1 became $2

Official sources record that one new dollar equalled ten shillings. Since one pound contained twenty shillings, £1 equalled A$2.

The change simplified the denomination. It was not itself a doubling of wealth or a consumer-price increase.

Pre-decimal amount1966 dollar equivalent
10 shillingsA$1
£1A$2
£10A$20

Denomination conversion first, CPI second

For a pre-1966 amount, first restate £sd as its A$ equivalent and clearly label it as retrospective. Then use the price index for the original period.

The RBA warns that very old retail-price figures were collected differently and may not be directly comparable. Treat the result as a guide, not an exact official valuation.

OFFICIAL SOURCES

Official Australian sources

Reserve Bank of AustraliaPre-decimal Inflation CalculatorOld-money rules, earlier price figures and their limitsAustralian Bureau of StatisticsDecimal currency featureOfficial 1966 conversion rules and transitionRoyal Australian MintDecimal currencyC-Day and the move to dollars and cents
GUIDE FAQ

Australia’s 1966 decimal change

What was £1 in Australian dollars at changeover?

£1 equalled A$2 because each new dollar equalled ten shillings.

Was decimalisation a price increase?

No. It changed the unit of account. Price movements and cash rounding are separate questions.

Can I enter a 1955 amount as if dollars existed then?

No. Record the original £sd amount and label any A$ figure as a retrospective equivalent before applying the historical price index.