In the UK, 240 old pence became 100 new pence in the pound, the pound remained the same, while the shilling disappeared altogether. However, many people continued to use the term shilling instead of five new pence for many years and even today it is sometimes heard referred to by older generations. | In the UK, 240 old pence became 100 new pence in the pound, the pound remained the same, while the shilling disappeared altogether. However, many people continued to use the term shilling instead of five new pence for many years and even today it is sometimes heard referred to by older generations. |