The shilling is no longer in use in Britain, but Kenya, Somalia, Tanzania, and Uganda still refer to their own currency as shilling. As of today, one shilling from each of these countries is valued at less than a penny in American dollars.
The phasing out of the British shilling began in 1971, with the introduction of a decimal system that divided the pound into 100 pence.When it was in use, it was worth one-twentieth of a pound. Under the decimal system, that is equivalent to five pence. As of today, five British pence is worth around 6 U.S. cents.