Britain faces another Dday, but this time the D stands for decimal. On Feb. 15, 1971, the British will stop dividing their pounds into 20 shillings or 240 pence and officially convert their currency to a decimal system with 100 “new pence” to the pound.
The first two coins, which had the same shape, heft and value as existing pieces, entered circulation painlessly. They were a five-new-pence coin worth twelve old pennies and a ten-new-pence coin that is the equivalent of two old shillings. Now comes the third decimal piece: the 50-new-penny unit, which is worth half a pound or $1.20. After three weeks in circulation, the new coin is infuriating Britons.
Mixed Up. To give the 50-new-penny coin a distinctive appearance, the Decimal Currency Board designed what it proudly billed as the world’s first coin in the shape of “an equilateral curve heptagon.” Despite its seven sides, the new coin is almost identical in size and weight to one of the other new coins (the ten-new-pence piece) and to an old one (the two-shilling florin). Thus a 50-new-penny coin is frequently mixed up with two pieces worth one-fifth as much.
Taxi drivers, bus conductors and shopkeepers immediately howled that they sometimes gave away larger amounts in change than they collected. It works the other way too. Britons intending to tip cabbies or porters a florin (24¢) find that they have been unintentionally generous and given away a 50-new-penny piece ($1.20). Some barkeeps banned the heptagonal, and workers in a Glamorgan radio factory refused to accept them in their pay envelopes. Even the canteen in the Royal Mint does not honor them.
A treasury official admitted that the coin has caused “concern,” but the government has shown no inclination to call in the 126 million heptagonals now in circulation. If the nuisance is to be permanent, however, Britons are making sure that the coin will be designated by a properly derisive nickname. Among many suggestions: a “Wilson” (better out of circulation), a “buck” (everybody’s passing it) and a “tenboob.” Said the Decimal Board’s chairman. Lord Fiske: “I should be happy with any nickname except the twitbit, which some people have suggested. I don’t think that is very nice.”
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