As a British colony, the Pound Sterling was the predominant currency in Australia until its conversion to a decimal-based dollar currency in 1966. The Australian florin was a denomination of coinage that circulated in Australia before 1966.
Each coin carries a value that was equivalent to 24 pence. It took 10 florins to equal one pound sterling.
The Australia Silver Florin was minted in two different silver finenesses. From 1910 until 1945, the fineness of the Australian Silver Florin was .925 fine, the equivalent of sterling silver.
From 1946 until 1966, the florin’s fineness was reduced to .500. Its composition was only 50% silver.