OTL February 1971: the British Pound was decimalised and 100 new pence replaced the 240 old pennies, and with it, the shilling was no more. The LSD, or pounds, shillings and pence system was an arcane system whose days had gone: it was time for Britain to join the rest of the world with a decimalised currency. The crown was reintroduced as this had a value of five shillings, which was a useful addition to the 1,2 and 2 1/2 coins. A double crown, or ten-bob piece was created, initially in circulation alongside its equivalent note of ten shillings.