|Mass||(Bronze) 9.4 g|
|Diameter||(Bronze) 31 mm|
|Years of minting||1707–1970|
|Design||Profile of the monarch (Elizabeth II design shown)|
|Design||Britannia (crowned letter I on earlier mintages)|
|Designer||Leonard Charles Wyon|
The British pre-decimal penny was a denomination of sterling coinage worth 1⁄240 of one pound or 1⁄12 of one shilling. Its symbol was d, from the Roman denarius. It was a continuation of the earlier English penny, and in Scotland it had the same monetary value as one pre-1707 Scottish shilling. The penny was originally minted in silver, but from the late 18th century it was minted in copper, and then after 1860 in bronze.
The plural of "penny" is "pence" when referring to an amount of money, and "pennies" when referring to a number of coins.Thus 8d is eight pence, but "eight pennies" means specifically eight individual penny coins.
Before Decimal Day in 1971, sterling used the Carolingian monetary system (£sd), under which the largest unit was a pound (£) divisible into 20 shillings (s), each of 12 pence (d).
The penny was withdrawn in 1971 due to decimalisation, and replaced (in effect) by the decimal half new penny, with +1⁄2p being worth 1.2d.
The kingdoms of England and Scotland were merged by the 1707 Act of Union to form the Kingdom of Great Britain. The exchange rate between £1 Scots and £1 sterling had been fixed at 12:1 since the Union of the Crowns in 1603, and in 1707 Scots currency ceased to be legal tender, with sterling to be used throughout Great Britain. The penny replaced the Scots shilling.
The design and specifications of the sterling penny were unchanged by unification, and it continued to be minted in silver after 1707. Queen Anne's reign saw pennies minted in 1708, 1709, 1710, and 1713. These issues, however, were not for general circulation, instead being minted as Maundy money. The prohibitive cost of minting silver coins had meant the size of pennies had been reduced over the years, with the minting of silver pennies for general circulation being halted in 1660.
The practice of minting pennies only for Maundy money continued through the reigns of George I and George II, and into that of George III. However, by George III's reign there was a shortage of pennies such that a great many merchants and mining companies issued their own copper tokens e.g. the Parys Mining Company on Anglesey issued huge numbers of tokens (although their acceptability was strictly limited).
In 1797, the government authorised Matthew Boulton to strike copper pennies and twopences at his Soho Mint in Birmingham. At the time it was believed that the face value of a coin should correspond to the value of the material it was made from, so they had respectively to contain one or two pence worth of copper (for a penny this worked out to be one ounce of copper). This requirement meant that the coins would be significantly larger than the silver pennies minted previously. The large size of the coins, combined with the thick rim where the inscription was incuse i.e. punched into the metal rather than standing proud of it, led to the coins being nicknamed "cartwheels". These pennies were minted over the course of several years, but all are marked with the date 1797.
By 1802, the production of privately issued provincial tokens had ceased.However, in the next ten years the intrinsic value of copper rose. The return of privately minted token coinage was evident by 1811 and endemic by 1812, as more and more of the government-issued copper coinage was melted down. The Royal Mint undertook a massive recoinage programme in 1816, with large quantities of gold and silver coin being minted. To thwart the further issuance of private token coinage, in 1817 an Act of Parliament was passed which forbade the manufacture of private token coinage under very severe penalties. Copper coins continued to be minted after 1797, through the reigns of George III, George IV and William IV, and the early reign of Queen Victoria. These later coins were smaller than the cartwheel pennies of 1797, and contained a smaller amount of copper.
In 1857 a survey by the Royal Mint found that around one third of all copper coinage was worn or mutilated, often by advertisements. Two years later Thomas Graham, the Master of the Mint, convinced William Ewart Gladstone, then Chancellor of the Exchequer, that so large a part of the copper coinage must be taken out of circulation that it was worth introducing a whole new coinage which would be "much more convenient and agreeable in use".These new coins were minted in bronze, and their specifications were no longer constrained by the onerous requirement that their face value should match the value of the base metal used to make the coin. These new coins were introduced in 1860 and a year later the withdrawal of the old copper coinage began.
The specifications of the bronze version of the penny were a mass of 9.45 g (0.333 oz) and a diameter of 30.86 mm (1.215 in), and remained as such for over a hundred years. Pennies were minted every year of Queen Victoria's reign, and every year of Edward VII's reign. George V pennies were produced every year to the same standard until 1922, but after a three-year gap in production the alloy composition was changed to 95.5% copper, 3% tin, and 1.5% zinc, although the weight and size remained unchanged (which was necessary because of the existence by then of large numbers of coin-operated amusement machines and public telephones). Thereafter, pennies were minted every year for the remainder of George V's reign, although only six or seven 1933 coins were minted, specifically for the king to lay under the foundation stones of new buildings; one of these coins was stolen when a church in Leeds was demolished in the 1960s, and its whereabouts is unknown.
A few pennies of Edward VIII exist, dated 1937, but technically they are pattern coins i.e. coins produced for official approval, which it would probably have been due to receive about the time that the King abdicated.
Pennies were not minted every year of George VI's reign: None were minted in 1941, 1942 and 1943. Pennies minted in 1950 and 1951 were for overseas use only. One 1952 penny, believed to be unique, was struck by the Royal Mint.
The worldwide shortage of tin during the Second World War caused a change in the alloy in 1944 to 97% copper, 0.5% tin, 2.5% zinc, but this bronze tarnishes unattractively, and the original 95.5% copper, 3% tin, 1.5% zinc alloy was restored in 1945.
Because of the large number of pennies in circulation there was no need to produce any more in the 1950s, however a large number of specimen sets were issued in 1953 for Elizabeth II's Coronation. At least one 1954 penny was struck, apparently for private internal purposes at the Royal Mint, but it was not until 1961 that there was a need for more pennies to be minted, and production continued each year until 1967, and afterwards (as pennies continued to be minted with the date 1967 until 1970). The 97% copper, 0.5% tin, 2.5% zinc alloy was used again for the 1960s pennies. Finally, there was an issue of proof quality coins dated 1970 produced to bid farewell to the denomination.
|1708–1713||12.0mm||0.5g||92.5% silver, 7.5% copper||The original reverse of the British penny is the same as the reverse of the pre-1707 English penny, a crowned letter I, surrounded by the inscription MAG BRI FR ET HIB REG. The obverse features the left-facing portrait of Queen Anne, surrounded by the inscription ANNA DEI GRATIA.|
|1716–1727||12.0mm||0.5g||92.5% silver, 7.5% copper||George I coins also have a crowned I on the reverse, and busts on the obverse. George I pennies have GEORGIVS DEI GRA inscribed on the obverse and MAG BR FR ET HIB REX date on the reverse.|
|1729–1760||12.0mm||0.5g||92.5% silver, 7.5% copper||Same design as previous, George II pennies have GEORGIVS II DEI GRATIA inscribed on the obverse and MAG BRI FR ET HIB REX date on the reverse.|
|1763–1786||12.0mm||0.5g||92.5% silver, 7.5% copper||First obverse, showing a right-facing bust of the king, with the inscription GEORGIVS III DEI GRATIA. The first reverse was used until 1780 and shows a crowned "I" in high relief, with the inscription MAG BRI FR ET HIB REX date across the crown This was then modified in lower relief with the "I" being much flatter.|
|1792||12.0mm||0.5g||92.5% silver, 7.5% copper||Second obverse, showing an older bust of the king and the same inscription, laureated bust of the king with the inscription GEORGIUS III DEI GRATIA date This issue uses a third reverse design which is completely redesigned with a much smaller "I" under a smaller crown with the inscription running around the crown. No changes were made to the legend.|
|1795–1800||12.0mm||0.5g||92.5% silver, 7.5% copper||Second obverse, showing an older bust of the king and the same inscription, laureated bust of the king with the inscription GEORGIUS III DEI GRATIA date This issue uses a fourth reverse design which is similar to the one used between 1763 and 1780 but with a redesigned crown.|
|1817–1820||12.0mm||0.5g||92.5% silver, 7.5% copper||The fifth reverse, used from 1817 onwards, shows the crowned "I" with the inscription BRITANNIARUM REX FID DEF date.|
|1797||36.0mm||28.3g||100% copper||The "cartwheel" penny was minted in copper, with a weight of 1 oz and a diameter of 1.4 in. The obverse features a right-facing portrait of George III, and incused into the rim are the words GEORGIUS III·D·G·REX. The initial K appears on the lowest fold of the drapery at the base of the effigy, indicating that the design is the work of the German engraver Conrad Heinrich Küchler. The reverse shows the left-facing seated figure of Britannia, with a trident held loosely in her left hand, and an olive branch in her outstretched right. There are waves about her feet, with a small ship to the left and a Union Jack shield below and to the right. Above, on the rim, is incused the word BRITANNIA, and on the rim below the image is incused the date 1797. The reverse was also designed by Kuchler. The word SOHO appears next to the shield, indicating that the coin came from the Soho Mint.|
|1806–1807||34.0mm||18.8g||100% copper||On the obverse, the head of King George III is turned to the right, the inscription GEORGIUS III D: G REX, while the reverse shows a left-facing seated Britannia with a shield and trident, inscribed BRITANNIAR REX FID DEF. Engraver Conrad Heinrich Küchler, Soho Mint.|
|1825–1827||34.0mm||18.8g||100% copper||The obverse of George IV's penny shows a highly regarded left-facing laureated head engraved by William Wyon after the king expressed a dislike for the one engraved by Benedetto Pistrucci for use on the farthing, inscribed GEORGIUS IV DEI GRATIA date, while the reverse shows a right-facing seated Britannia with a shield and trident, inscribed BRITANNIAR REX FID DEF.|
|1831–1837||34.0mm||18.6g||100% copper||The pennies of King William IV are very similar to his predecessors', also being engraved by William Wyon. The king's head faces right, inscribed GULIELMUS IIII DEI GRATIA date, while the reverse is identical to the George IV penny.|
|1841–1860||34.0mm||18.8g||100% copper||The Young Head bust of Victoria was designed by William Wyon who died in 1851.|
|1860–1894||31.0mm||9.4g||95% copper, 4% tin, 1% zinc||The second bust of Victoria was designed by Leonard Charles Wyon. The reverse of the bronze version of the coin features a seated Britannia, holding a trident, with the words ONE PENNY to either side.|
|1895–1901||31.0mm||9.4g||95% copper, 4% tin, 1% zinc||The third and final Old Head (or "veiled head") bust was designed by Thomas Brock.|
|1902–1910||31.0mm||9.4g||95% copper, 4% tin, 1% zinc||During the reign of King Edward VII the lighthouse and ship flanking Britannia were removed and the sea level design was altered to be higher.|
|1911–1922||31.0mm||9.4g||95% copper, 4% tin, 1% zinc|
|1925–1936||31.0mm||9.4g||95.5% copper, 3% tin, 1.5% zinc|
|1937–1943||31.0mm||9.4g||95.5% copper, 3% tin, 1.5% zinc||During the reign of George VI the lighthouse was restored on the reverse to the left of Britannia, and her shield was turned upright.|
|1944||No change in design||31.0mm||9.4g||97% copper, 0.5% tin, 2.5% zinc|
|1945–1952||No change in design||31.0mm||9.4g||95.5% copper, 3% tin, 1.5% zinc||George VI issue coins feature the inscription GEORGIVS VI D G BR OMN REX F D IND IMP before 1949, and GEORGIVS VI D G BR OMN REX FIDEI DEF thereafter.|
|1953–1954||Same design as below||31.0mm||9.4g||95.5% copper, 3% tin, 1.5% zinc||Pennies were rarely minted during the early reign of Elizabeth II, but those minted for the coronation in 1953 feature the inscription ELIZABETH II DEI GRA BRITT OMN REGINA F D.|
|1961–1970||31.0mm||9.4g||97% copper, 0.5% tin, 2.5% zinc||Regular minting of pennies was resumed in 1961. Pennies minted after this date bear the inscription ELIZABETH II DEI GRATIA REGINA F D.|
|Victoria (Young bust)|
|Victoria (Draped bust)|
|Victoria (Veiled bust)|
Note: The mintage figures where "H" or "KN" follows the year relates to coins minted with that particular mint mark. "H" refers to the Heaton Mint, and "KN" to the King's Norton Mint, both of which were contracted to mint supplemental pennies on occasion.
From 1825 to 1970 a total of 3,629,384,952 pennies were minted.
The standard circulating coinage of the United Kingdom, British Crown Dependencies and British Overseas Territories is denominated in pennies and pounds sterling, and ranges in value from one penny sterling to two pounds. Since decimalisation, on 15 February 1971, the pound has been divided into 100 (new) pence. Before decimalisation, twelve pence made a shilling, and twenty shillings made a pound.
A penny is a coin or a unit of currency in various countries. Borrowed from the Carolingian denarius, it is usually the smallest denomination within a currency system. Presently, it is the formal name of the British penny (abbr. p) and the de facto name of the American one-cent coin (abbr. ¢) as well as the informal Irish designation of the 1 cent euro coin (abbr. c). Due to inflation, pennies have lost virtually all their purchasing power and are often viewed as an expensive burden to merchants, banks, government mints and the public in general.
The British decimal one penny (1p) coin is a unit of currency and denomination of sterling coinage worth 1⁄100 of one pound. Its obverse featured the profile of Queen Elizabeth II since the coin's introduction on 15 February 1971, the day British currency was decimalised until her death on 8 September 2022. A new portrait featuring King Charles III was introduced on 30 September 2022, designed by Martin Jennings. Four different portraits of the Queen were used on the obverse; the last design by Jody Clark was introduced in 2015. The second and current reverse, designed by Matthew Dent, features a segment of the Royal Shield and was introduced in 2008. The penny is the lowest value coin ever to circulate in the United Kingdom.
The penny of Great Britain and the United Kingdom from 1714 to 1901, the period in which the House of Hanover reigned, saw the transformation of the penny from a little-used small silver coin to the bronze piece recognisable to modern-day Britons. All bear the portrait of the monarch on the obverse; copper and bronze pennies have a depiction of Britannia, the female personification of Britain, on the reverse.
The British penny, a large, pre-decimal coin which continued the series of pennies which began in about the year 700, was struck intermittently during the 20th century until its withdrawal from circulation after 1970. From 1901 to 1970, the obverse of the bronze coin depicted the monarch who was reigning at the start of the year. The reverse, which featured an image of Britannia seated with shield, trident, and helm, was created by Leonard Charles Wyon based on an earlier design by his father, William Wyon. The coins were also used in British colonies and dominions that had not issued their own coins.
The British farthing abbreviated qua., was a denomination of sterling coinage worth 1/960 of one pound, 1/48 of one shilling, or 1/4 of one penny; initially minted in copper and then in bronze, which replaced the earlier English farthings. Before Decimal Day in 1971, Britain used the Carolingian monetary system, wherein the largest unit was a pound sterling of 20 shillings, each of 12 pence. Each penny was divided into 4 farthings, thus, a pound sterling contained 960 farthings, and a shilling contained 48 farthings. From 1860 to 1971, the purchasing power of a farthing ranged between 12p and 0.2p in 2017 values.
The British crown was a denomination of sterling coinage worth 1⁄4 of one pound, or 5 shillings, or 60 (old) pence. The crown was first issued during the reign of Edward VI, as part of the coinage of the Kingdom of England.
Sterling is the currency of the United Kingdom and nine of its associated territories. The pound is the main unit of sterling, and the word "pound" is also used to refer to the British currency generally, often qualified in international contexts as the British pound or the pound sterling. In British English, its most common nickname is "quid."
The pound was the currency of the Republic of Ireland until 2002. Its ISO 4217 code was IEP, and the symbol was £ The Irish pound was replaced by the euro on 1 January 1999. Euro currency did not begin circulation until the beginning of 2002.
The pound was the currency of Scotland prior to the 1707 Treaty of Union between the Kingdom of Scotland and the Kingdom of England, which created the Kingdom of Great Britain. It was introduced by David I, in the 12th century, on the Carolingian monetary system of a pound divided into 20 shillings, each of 12 pence. The Scottish currency was later devalued relative to sterling by debasement of its coinage. By the time of James III, one pound Scots was valued at five shillings sterling.
Australian coins refers to the coins which are or were in use as Australian currency. During the early days of the colonies that formed Australia, foreign as well as British currency was used, but in 1910, a decade after federation, Australian coins were introduced. Australia used pounds, shillings and pence until 1966, when it adopted the decimal system with the Australian dollar divided into 100 cents. With the exception of the first Proclamation Coinage and the holey dollars, all Australian coins remain legal tender despite being withdrawn from circulation.
There have been three sets of coins in Ireland since independence. In all three, the coin showed a Celtic harp on the obverse. The pre-decimal coins of the Irish pound had realistic animals on the reverse; the decimal coins retained some of these but featured ornamental birds on the lower denominations; and the euro coins used the common design of the euro currencies. The pre-decimal and original decimal coins were of the same dimensions as the same-denomination British coins, as the Irish pound was in currency union with the British pound sterling. British coins were widely accepted in Ireland, and conversely to a lesser extent. In 1979 Ireland joined the Exchange Rate Mechanism and the Irish pound left parity with sterling; coin designs introduced after this differed between the two countries.
The British farthing was a British coin worth a quarter of an old penny. It ceased to be struck after 1956 and was demonetised from 1 January 1961.
The British sixpence piece, sometimes known as a tanner or sixpenny bit, was a denomination of sterling coinage worth 1⁄40 of one pound or half of one shilling. It was first minted in 1551, during the reign of Edward VI, and circulated until 1980. The coin was made from silver from its introduction in 1551 until 1947, and thereafter in cupronickel.
The shilling, informally called a "bob", was a type of silver coinage issued by the Commonwealth of Australia, that circulated prior to the decimalisation of Australian coinage. The Australian shilling was derived from the British pre-decimal sterling pound system and was first issued following the passing of the Australian Coinage Act 1909, which established Australia's first formal currency system. The shilling was issued as part of Australia's silver coinage, which included the two-shilling (florin), the sixpence and the threepence. The shilling was minted from 1910 until 1963. During this period there was one significant modification to the design of the Australian shilling, the change in its reverse design, which occurred in 1938 when the design was altered from the Australian Coat of Arms (1910-1936) to the visage of a Merino ram’s head (1938-1963).
The British shilling, abbreviated "1s" or "1/-", was a unit of currency and a denomination of sterling coinage worth 1⁄20 of one pound, or twelve pence. It was first minted in the reign of Henry VII as the testoon, and became known as the shilling, from the Old English scilling, sometime in the mid-16th century. It circulated until 1990. The word bob was sometimes used for a monetary value of several shillings, e.g. "ten-bob note". Following decimalisation on 15 February 1971 the coin had a value of five new pence, and a new coin of the same value but labelled as "five new pence" or "five pence" was minted with the same size as the shilling until 1990, after which the shilling no longer remained legal tender. It was made from silver from its introduction in or around 1503 until 1946, and thereafter in cupronickel.
The Great Recoinage of 1816 was an attempt by the government of the United Kingdom of Great Britain and Ireland to re-stabilise its currency, the pound sterling, after the economic difficulties brought by the French Revolutionary Wars and the Napoleonic Wars.
The English farthing was a coin of the Kingdom of England worth 1⁄4 of a penny, 1⁄960 of a pound sterling. Until the 13th century, farthings were pieces of pennies that had been cut into quarters to make change. The first English farthing coins were minted in the 13th century, and continued to be struck until the early 18th century, when England merged into the Kingdom of Great Britain in 1707.
The British twopence (2d) coin was a denomination of sterling coinage worth two pennies or 1/120 of a pound. It was a short-lived denomination in copper, being minted only in 1797 by Matthew Boulton's Soho Mint.