 Ngwee coins with the denominations of 1, 2, 5, 10, and 20 ngwee replacing the existing 1, 3, 6 pence, 1, and 2 shillings coins respectively.The Zambian pound notes, and coins ceased to be a legal tender on January 31, 1974.At the very beginning, the kwacha was pegged to the pound sterling at a fixed rate of 1.7094 kwacha per 1 pound.