Part IMonetary Standard

1 Monetary System of the Realm

(1)The lawful currency of the Realm shall subsist upon the pound sterling (£), divided into twenty shillings (20s.), and each shilling subdivided into twelve pence (12d.).

(2)Fractional parts of a penny shall lawfully circulate as the halfpenny (½d.) and the farthing (¼d.).

Part IICoinage Specifications

2 Standard Weights and Composition

(1)All coins struck by the Royal Mint shall adhere strictly to the following composition standards:

(a)gold coins, namely the sovereign (£1) and half-sovereign (10s.), containing eleven-twelfths of fine gold;

(b)cupro-nickel coins, namely the crown (5s.), half-crown (2s. 6d.), florin (2s.), shilling (1s.), and sixpence (6d.), containing seventy-five parts copper and twenty-five parts nickel;

(c)nickel-brass coins, namely the threepence (3d.), of twelve-sided form;

(d)bronze coins, namely the penny (1d.) and halfpenny (½d.), containing ninety-seven parts copper, two and one-half parts zinc, and one-half part tin.

3 Standard of weight and fineness

The Master of the Mint shall cause all coins to be tested annually at the Trial of the Pyx to ensure compliance with statutory weights and fineness.

Part IIILegal Tender

4 Limits of Legal Tender

(1)A tender of payment of money shall be legal tender only up to the following amounts:

(a)gold coins, for payment of any amount;

(b)cupro-nickel coins of denominations exceeding sixpence, for payment of an amount not exceeding forty shillings;

(c)cupro-nickel coins of denominations of sixpence or less, and nickel-brass threepences, for payment of an amount not exceeding two shillings;

(d)bronze coins, for payment of an amount not exceeding one shilling.

5 Prohibition of counterfeit coins

Whosoever fraudulently makes, counterfeits, or impairs any coin resembling any current coin of the Realm shall be guilty of an offence and liable upon conviction on indictment to imprisonment for a term not exceeding seven years.

Part IVGeneral

6 Citation

This Act may be cited as the Coinage and Legal Tender Act.