Almost 50 years ago, the ten bob note was in every wallet, purse and pocket in Britain. The 10 Shilling banknote would have been recognisable to every schoolchild in Britain, a fact that certainly isn’t the case today!
Worth the equivalent of 50p, back then it would have bought you 6 pints of beer, 10 loaves of bread, or 17 pints of milk. It’s hard to imagine a 50p going so far these days!
The 10 Shilling banknote was the smallest denomination note ever issued by the Bank of England. The denomination was first issued as a banknote by the Treasury during the First World War as an emergency currency and was then issued as a generally circulating note by the Bank of England from 1928.
However, in 1966 when the decision was made to convert Britain’s coinage to a decimal currency it sadly meant saying goodbye to the well-loved 10 Shilling Note.
Under this new system, there was no place for the 10 bob note. It was decided that the new decimal replacement should be issued as a coin, the main reason being that notes had an average lifetime of about five months so it was inefficient to keep replacing a note with such a low denomination.
As a result, the first ever 7-sided coins was introduced in 1969 – the now instantly recognisable 50p coin. The two currencies co-existed for around a year, but finally, on 22nd November 1970, the old 10 bob note ceased to be legal tender.
Almost 50 years on, the 50p is now a staple of British culture and one of the most collectable coins internationally. The 10 bob note stands as an important reminder of the pre-decimal coinage our generation grew up with and also of one of the most significant moments in the history of British currency – decimalisation.
If you’re interested…
Today you have the opportunity to own a FINE SILVER reproduction of the 10 Shilling Banknote for JUST £45. But with limited stock available, you will need to act quickly to secure this perfect piece of nostalgia…