Damon Mcknight
On 14 February 1966, Australia introduced decimal currency, replacing the old system of pounds, shillings, and pence with the new dollars and cents. This change, known as C-Day or Changeover Day, was a significant event in Australia's history, marking the country's shift towards a more modern and efficient monetary system. The transition to decimal currency had been contemplated since the beginning of the 20th century, and the Australian Government began giving practical consideration to the change in the late 1950s. The process was overseen by the Decimal Currency Board, which conducted extensive public education and awareness campaigns to prepare Australians for the new currency.
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What You'll Learn
The Currency Act 1963
Australia's Currency Act 1963 was passed by the government in accordance with the recommendations of the Decimal Currency Committee. The Act nominated 14 February 1966 as Changeover Day or 'C-Day', followed by a two-year transition period during which both currencies would remain legal tender.
The introduction of decimal currency was a significant change for Australia, marking a shift from the imperial system of pounds, shillings and pence to a decimal system with the Australian dollar as the major currency unit and the cent as the minor unit. This change simplified calculations and increased financial efficiency, but it also represented a break from the customary transactions Australians were used to, and some members of the public were resistant to the change.
To address these concerns and ensure a smooth transition, the Decimal Currency Board, headed by Sir Walter Scott, undertook a comprehensive public awareness campaign. This campaign aimed to educate the public about the value of decimalisation, reassure them about the transition process, and provide information on how to convert prices. The campaign featured appearances by Scott on national television, as well as a cartoon figure named Dollar Bill, who appeared in various media outlets, including television advertisements, comic strips, and crosswords.
The Currency Act also had important implications for the production of coins and banknotes. The new decimal coins and banknotes featured imagery that reflected Australia's unique identity, with depictions of the country's fauna and bold, bright colours. The coins were designed by Stuart Devlin and featured an image of Queen Elizabeth II on the obverse side and Australian fauna on the reverse. The Reserve Bank of Australia oversaw the design and production of the new decimal banknotes for the $1, $2, $10, and $20 denominations.
Overall, the introduction of decimal currency in Australia through the Currency Act 1963 was a well-planned and executed reform that simplified financial transactions and contributed to the country's sense of self-assurance and forward-thinking.
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Public education campaign
On the 14th of February 1966, Australia changed to a decimal currency. This change, referred to as "C-day", was the culmination of a years-long process and public education campaign to familiarise Australians with the new currency system.
The public education campaign played a crucial role in ensuring a smooth transition to decimal currency for the Australian public. The campaign was extensive and far-reaching, utilising a variety of communication channels and resources to ensure that all Australians understood the impending changes and how they would impact their daily lives.
The campaign kicked off with the establishment of the Decimal Currency Board in 1960, tasked with overseeing the transition and educating the public. The Board developed a comprehensive plan that included the production and distribution of
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The Royal Australian Mint
On 14 February 1966, Australia changed its currency from the Australian pound to decimal currency, the Australian dollar. This conversion was a pragmatic and economic decision, offering increased financial efficiency through simplified calculations.
Before the Royal Australian Mint, Australian coins were produced at the Sydney Mint, Melbourne Mint, and Perth Mint. The Melbourne Mint continued to operate alongside the new mint until 1967, with some staff relocating to Canberra. The Royal Australian Mint became the first mint in Australia to be independent of the British Royal Mint.
The mint has also produced medals for military and civilian honours, including the Order of Australia and the 2000 Summer Olympics medals. It creates innovative coins, such as the world's first coin with a double hologram in 2001, and bi-metallic and colour-printed coins. The Royal Australian Mint has played a pivotal role in Australia's decimalisation, enabling the production and stockpiling of about one billion coins before the changeover.
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Dollar Bill
On 14 February 1966, Australia introduced decimal currency, replacing the old system of pounds, shillings and pence with the new dollars and cents. This date became known as 'C-Day' (Conversion Day) or Changeover Day. The transition was overseen by the Decimal Currency Board, which had to convince the Australian public of the value of decimalisation and reassure them that the transition would be smooth.
To this end, the board launched an extensive public education campaign, including television advertisements featuring a cartoon character called Dollar Bill. Dollar Bill was the poster boy for the board's publicity campaign and appeared in various media for the two years prior to C-Day. He featured in a TV advertisement called 'Dollar Bill and Australians Keep the Wheels of Industry Turning', which included a famous jingle sung to the tune of 'Click Go the Shears'. He also made regular appearances in newspaper comic strips and crosswords, booklets and brochures.
The public education campaign also included a column in The Courier-Mail, called 'ABC of Decimals', which advised the public on conversions and practical applications. There was even a telephone service, The Dollar Jills, to answer questions about the new currency. Schools introduced the new currency to their students, and the Retail Traders' Association held special lectures for members.
The introduction of the Australian dollar was the culmination of a process that had begun in the early 20th century. In 1959, Treasurer Harold Holt appointed a Decimal Currency Committee to examine the merits of decimalisation, and in 1963, the government introduced the Currency Act, nominating 14 February 1966 as Changeover Day. The new currency was designed to reflect Australia's distinctive identity and included imagery of the country's unique fauna.
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The transition period
Following the committee's report in favour of decimalisation, the government introduced the Currency Act 1963, which set the date for the changeover to the new currency as 14 February 1966, or 'C-Day'. This was followed by a two-year transition period during which both the old and new currencies remained legal tender.
During this transition, an extensive public education program was launched by the Decimal Currency Board to familiarise the public with the new currency. This included television advertisements featuring a cartoon character called Dollar Bill, who also appeared in other media such as newspaper comic strips and crosswords. The Retail Traders' Association held lectures for its members, and a regular column, 'ABC of Decimals', was published in The Courier-Mail to advise the public on conversions and practical applications. A telephone service, The Dollar Jills, was also set up to answer any questions the public had about the new currency.
Schools introduced the new currency to their students, and new textbooks were published to facilitate the teaching of decimal currency in mathematics classes. The new coins and banknotes were designed with imagery that reflected Australia's distinctive identity, including depictions of the country's unique fauna and bold, bright colours.
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Frequently asked questions
Australia changed to decimal currency on 14 February 1966, a date that became known as 'C-Day' (Conversion Day).
Before the change, Australia used the Australian pound, which was divided into 240 pence or 20 shillings, with each shilling comprising 12 pence.
After the change, Australia introduced the Australian dollar as its new currency, with the major unit called the "dollar" and the minor unit called the "cent".
