Quote Originally Posted by bombdoc View Post
Indeed.. my wife was working in the Bank of Englandicon at the time, and she always said that the word in the bank was that they decimalised wrong thing. Instead of changing the value of the penny, they should have changed the value of the pound to match 100 pennies. We ended up with one of the highest value, low end coins in the world at the time, and when inflation kicked in, prices went up 2.4 times higher that they needed to. In other words, instead of retailers adding 1d to the price of something, they added 1p, or 2.4d!

The reason they decimalised the penny was purely political... (so no change there then!)

To those of you who moan about having worthless small denomination coin, be careful! There is a value in having a low denomination minimal value coin when inflation is about!
very correct. The 1 and 2 cent coins have been axed in OZZIE and the 5 cent is not looking good. Advised price and rounding up for cash is common.