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Although the coin was not minted until the 16th century, the value of a shilling had been used for accounting purposes since the early medieval period. The value of one shilling equalling 12 pence (12 d) was set by the Normans following the conquest; before this various English coins equalling 4, 5, and 12 pence had all been known as shillings. [3]
It was a unit of currency that equalled half of a penny, 1 / 24 of a shilling, or 1 / 480 of a pound. [2] The coin was made to be equivalent to the British halfpenny; its dimensions, composition and values were equivalent, and additionally, the two currencies were fixed at par. [3]
One Australian penny was worth 1 ⁄ 12 Australian shilling, 1 ⁄ 24 Australian florin, 1 ⁄ 60 Australian crown, and 1 ⁄ 240 Australian pound. The coin was equivalent in its dimensions and value to the British pre-decimal penny, as the two currencies were originally fixed at par. The coin was introduced in 1911, while the last penny was ...
Early Australian Imperial Coins—1926 half penny, 1911 penny, 1923 threepence, 1928 sixpence, 1936 shilling, 1936 florin, 1927 florin, and 1937 crown. Late Australian Imperial Coins—1954 half penny, 1964 penny, 1963 threepence, 1960 sixpence, 1960 shilling, 1962 florin, 1951 florin, and 1954 florin.
Shilling: 1/-£0.05: 1502–1970, circulated from 1971 to 1990 with a value of five decimal pence. Also called a "bob", in singular or plural. Originally called a 'Testoon' under Henry VIII. One shilling and one penny: 1/1: £0.0542: Late 1640's Minted under Charles I during the civil war briefly. One shilling and twopence: 1/2: £0.0584: Late ...
Between 1910 and 1938 shillings were composed of 92.5% silver and 7.5% copper. However, after the Second World War, the rising price of silver meant that the silver content of Australian coins was close to meeting the face value of the coin itself and therefore Australia decided to change the silver content of its coins. [12]