NZ Swapped Pounds for Dollars 59 Years Ago
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Yesterday marked 59 years since one of the biggest changes in New Zealand's financial history.
On **10 July 1967**, New Zealand officially changed from the old British currency system of **pounds, shillings and pence** to the decimal system of **dollars and cents**, making everyday transactions far simpler for generations to come.
Before decimalisation, New Zealanders had to navigate a complex system where **one pound equalled 20 shillings, and each shilling was worth 12 pence**. That meant there were **240 pence in a pound**, making calculations far more complicated than the straightforward decimal system we use today.
To ensure the public was ready for the historic change, the Government launched a nationwide education campaign months before "Decimal Currency Day". Schools, businesses and banks all played a role in helping New Zealanders prepare.
At the centre of the campaign was **Mr Dollar**, an animated character created to explain the new currency in a fun and memorable way. Appearing in television advertisements, cinemas and educational material, Mr Dollar became one of the country's most recognisable public information figures, teaching people how to convert from pounds, shillings and pence into dollars and cents.
One of the campaign's most memorable slogans was:
**"Don't be muddled. Be decimal."**
The conversion was carefully planned. The New Zealand dollar was introduced with an exchange rate of **$2 for every £1**, meaning one dollar was worth ten shillings in the old currency.
New notes and coins entered circulation on 10 July 1967, while the old currency was gradually withdrawn. Banks opened with extra staff, retailers updated cash registers, and businesses across the country worked to ensure the transition was as smooth as possible.
For many older New Zealanders, the day remains a vivid memory. While some people were initially unsure about the new money, the decimal system was quickly embraced and soon became second nature.
Today, nearly six decades later, few people can remember using pounds, shillings and pence. However, the success of New Zealand's decimalisation remains an excellent example of how a major nationwide change can be achieved through careful planning, public education and a little help from a cheerful animated character named **Mr Dollar**.
If you've never seen him before, watching the original Mr Dollar educational films offers a fascinating glimpse into a pivotal moment in New Zealand's history - and a reminder of just how much everyday life has changed since 1967.