Although the British no longer use the shilling as currency, it is still commonly used in Kenya, Somalia, Tanzania, and Uganda. One shilling from any of these countries is currently worth less than a cent in American currency.
In 1971, a decimal system was introduced in the United Kingdom, dividing the pound into 100 pence and marking the beginning of the end for the British shilling.
One-twentieth of a pound was the value of one of these coins when they were in circulation. It’s the same as five pence in the decimal system. Today, five pounds in the UK is equivalent to about six cents in the US.
