 The conversion rate was A$2 = A£1.In 1898 the British government allowed two colonies, New South Wales and Victoria, to mint silver and bronze coins at their mints in Sydney and Melbourne respectively.In 1946, due to costs incurred during World War II, the silver content of the coins was reduced from 0.925 to 0.500 of the coin weight, which lasted until decimalisation on 14 February 1966.