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Australian pound facts for kids

Kids Encyclopedia Facts

The Australian Pound was the money of Australia from 1910 until 1966. It was made up of 20 shillings, with each shilling made out of 12 pence. In 1966, the basic unit of currency was changed from the Australian pound to the Australian dollar which had 100 cents to each dollar. 1 pound became 2 dollars, 1 shilling became 10 cents and 1 penny became 1 cent.

Coins

British coins were used until 1910, when Australian silver coins started to be made and used. There were florins, shillings, sixpences and threepences. They had a picture of King Edward VII of the United Kingdom on one side. Australian pennies and half-pennies started to be used the next year. In 1931 gold sovereigns, which had also been used before 1910, stopped being made in Australia. A crown (five shilling) coin was made for use between 1937 and 1938. People did not like them very much so you would not have seen them often after 1940. By 1966, the coins being used were half pennies, pennies, threepences, sixpences, shillings and florins.

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Australian pound Facts for Kids. Kiddle Encyclopedia.