Decimalization is the process of converting a currency system to one based on the number ten. It gained popularity in the late 18th century and most countries now use it. The ease of mathematical calculations is the main reason for its popularity. Great Britain converted to decimal in 1971.
Decimalization is the process of converting a pre-existing currency system into one based on the number ten. This process started in earnest in the 18th century and most countries around the world now base their currencies on the decimal system. The ease of performing the mathematical calculations in calculating different denominations is the main reason why decimalization has gained favor. One of the most significant constraints on the process was Great Britain, which finally converted its randomly based system of pounds to decimal in 1971.
Most people in the modern world take for granted a monetary system based on ones and tens. In fact, the decimal system only began to grow in popularity in the late 18th century. With the United States freeing itself from Britain and the French Revolution each in that time period, two major international players were soon using the decimal system as the basis for their currencies. As a result, the decimalization movement gained momentum and soon swept much of the world.
Every country that has undergone the decimalization system has usually done so to align its monetary system with other world currencies. While it is possible to use different names for currencies, the essential numerical background of each system is the same. For example, most countries in Europe use the euro as the basis for their currencies, while the United States uses the dollar as its own. But all of these countries use a decimal system to distribute the different denominations.
As an example of how decimalization works, imagine the example of the United States. The US settlers came from a British monetary system that had a rather haphazard method of currency allocations, such as that there were 240 pence in a pound, the major British denomination. When the United States began minting money in 1792, it stipulated that there would be 100 cents in a dollar, thus cementing the decimal system for posterity.
Some countries clung to the old ways of currency before finally succumbing to decimalization. When Britain finally decimated in 1971, many citizens were appalled that this was done without any popular vote. These citizens had become accustomed to the coinage that the country had always used and feared the change brought about by the decimal process. As a result, Decimal Day in Britain, which took place on February 15, 1971, was met with skepticism, although it eventually died out as the new system became commonplace.
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