Antique King George V One Shilling Silver Coin.

Shillings were minted during the reigns of every English monarch after Edward VI, as well as during the Commonwealth, with a vast number of variations and alterations appearing over the years. The Royal Mint undertook a massive recoinage programme in 1816, with large quantities of gold and silver coin being minted. Previous issues of silver coinage had been irregular, and the last issue, minted in 1787, was not intended for issue to the public, but as Christmas gifts to the Bank of England's customers.[8] New silver coinage was to be of .925 (sterling) standard, with silver coins to be minted at 66 shillings to the troy pound.[9] Hence, newly minted shillings weighed 2⁄11 troy ounce, equivalent to 87.273 grains or 5.655 grams.

The Royal Mint debased the silver coinage in 1920 from 92.5% silver to 50% silver. Shillings of both alloys were minted that year.[10][self-published source?] This debasement was done because of the rising price of silver around the world, and followed the global trend of the elimination, or the reducing in purity, of the silver in coinage.[11] The minting of silver coinage of the pound sterling ceased completely (except for the ceremonial Maundy Money) at the end of 1946 for similar reasons, exacerbated by the costs of the Second World War. New "silver" coinage was instead minted in cupronickel, an alloy of 75% copper and 25% nickel.[12]

Beginning with Lord Wrottesley's proposals in the 1820s there were various attempts to decimalise the pound sterling over the next century and a half.[13][14] These attempts came to nothing significant until the 1960s when the need for a currency more suited to simple monetary calculations became pressing. The decision to decimalise was announced in 1966, with the pound to be redivided into 100, rather than 240, pence. Decimal Day was set for 15 February 1971, and a whole range of new coins was introduced. Shillings continued to be legal tender with a value of 5 new pence until 31 December 1990.

George V (George Frederick Ernest Albert; 3 June 1865 – 20 January 1936) was King of the United Kingdom and the British Dominions, and Emperor of India, from 6 May 1910 until his death in 1936.

George was born during the reign of his paternal grandmother, Queen Victoria, as the second son of the Prince and Princess of Wales (later King Edward VII and Queen Alexandra). He was third in the line of succession to the British throne behind his father and his elder brother, Prince Albert Victor. From 1877 to 1892, George served in the Royal Navy, until his elder brother's unexpected death in January 1892 put him directly in line for the throne. The next year, George married his brother's fiancée, Princess Victoria Mary of Teck, and they had six children. When Queen Victoria died in 1901, George's father ascended the throne as Edward VII, and George was created Prince of Wales. He became king-emperor on his father's death in 1910.

George's reign saw the rise of socialism, communism, fascism, Irish republicanism, and the Indian independence movement, all of which radically changed the political landscape of the British Empire, which itself reached its territorial peak by the beginning of the 1920s. The Parliament Act 1911 established the supremacy of the elected British House of Commons over the unelected House of Lords. As a result of the First World War (1914–1918), the empires of his first cousins Nicholas II of Russia and Wilhelm II of Germany fell, while the British Empire expanded to its greatest effective extent. In 1917, George became the first monarch of the House of Windsor, which he renamed from the House of Saxe-Coburg and Gotha as a result of anti-German public sentiment. He appointed the first Labour ministry in 1924, and the 1931 Statute of Westminster recognised the Empire's Dominions as separate, independent states within the British Commonwealth of Nations.

George suffered from smoking-related health problems during his later reign. On his death in January 1936, he was succeeded by his eldest son, Edward VIII. Edward abdicated in December of that year and was succeeded by his younger brother Albert, who took the regnal name George VI.

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