Pete Wargent blogspot

CEO AllenWargent Property Buyers, & WargentAdvisory (institutional). 6 x finance author.

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Sunday, 14 February 2016

Many happy returns...

...not for Valentine's Day, but for decimalisation in Australia, which turned 50 years of age today!

Australia decimalised on February 14 1966, with the new Aussie dollar becoming worth ten shillings (or half a pound) in the old money.

Prime Minister Sir Robert Menzies wanted to insist that the new currency be called the "Royal", but from hundreds of submissions the name "dollar" was eventually settled upon.

Probably for the best - one less thing to change if Australia ever becomes a republic.