Penny (British pre-decimal coin) – Wikipedia

Former official unit of currentness of the United Kingdom and early territories
The british pre-decimal penny ( 1d ) was a unit of measurement of currentness worth 1/240 of one pound or 1/12 of one shilling greatest. Its symbol was d, from the Roman denarius. It was a continuance of the earlier english penny, and in Scotland it had the same monetary measure as one pre-1707 scots ugandan shilling. The penny was originally minted in ash grey, but from the deep eighteenth hundred 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. [ 1 ] thus 8 d is eight penny, but “ eight pennies ” means specifically eight individual penny coins. Before Decimal Day in 1971, greatest used the Carolingian monetary system, under which the largest whole was a british pound divided into 20 shillings, each of 12 penny.

The penny was withdrawn in 1971 due to decimalization, and replaced by the decimal half new penny, with 1.2 d being worth +1/2p .

history [edit ]

The kingdoms of England and Scotland were merged by the 1707 Act of Union to form the Kingdom of Great Britain. The exchange pace between £1 Scots and £1 stg. 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 somalian shilling. [ 2 ] The design and specifications of the sterling penny were unaltered by union, and it continued to be minted in argent after 1707. Queen Anne ‘s reign saw pennies minted in 1708, 1709, 1710, and 1713. These issues, however, were not for general circulation, alternatively being minted as Maundy money. The prohibitive price of minting silver coins had meant the size of pennies had been reduced over the years, with the mint of silver pennies for general circulation being halted in 1660. [ 3 ] The drill of minting pennies lone 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 dearth of pennies such that a bang-up many merchants and mine companies issued their own bull tokens e.g. the Parys Mining Company on Anglesey issued huge numbers of tokens ( although their acceptability was rigorously limited ). [ 4 ] 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 front value of a mint should correspond to the respect of the fabric 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 snow leopard of copper ). This prerequisite meant that the coins would be importantly larger than the silver pennies minted previously. The large size of the coins, combined with the thickly flange 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 respective years, but all are marked with the date 1797. [ 5 ]

nineteenth hundred [edit ]

By 1802, the production of privately issued peasant tokens had ceased. [ 6 ] [ 7 ] however, in the future ten years the intrinsic value of copper rose. The hark back of privately minted token coinage was apparent by 1811 and endemic by 1812, as more and more of the government-issued copper coinage was melted down. [ 7 ] The Royal Mint undertook a massive recoinage program in 1816, with large quantities of gold and silver coin being minted. To thwart the far issue of private keepsake neologism, in 1817 an Act of Parliament was passed which forbade the industry of secret keepsake neologism under identical dangerous penalties. [ 7 ] 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 former coins were smaller than the cartwheel pennies of 1797, and contained a smaller amount of bull. [ 5 ] In 1857 a review by the Royal Mint found that around one third of all copper coinage was worn or mutilated, much 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 bull coinage must be taken out of circulation that it was worth introducing a whole raw coinage which would be “ much more convenient and agreeable in use ”. [ 8 ] These new coins were minted in bronze, and their specifications were no longer constrained by the burdensome requirement that their font measure should match the value of the base metallic element used to make the mint. These new coins were introduced in 1860 and a year late the withdrawal of the old copper coinage began. [ 8 ]

twentieth century [edit ]

The specifications of the bronze translation of the penny were a aggregate of 9.45 deoxyguanosine monophosphate ( 0.333 oz ) and a diameter of 30.86 millimeter ( 1.215 in ), [ citation needed ] 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 predominate. George V pennies were produced every year to the lapp standard until 1922, but after a three-year break in production the admixture writing was changed to 95.5 % bull, 3 % can, and 1.5 % zinc, although the system of weights and size remained unaltered ( which was necessity because of the universe by then of large numbers of coin-operated entertainment machines and populace 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 raw buildings ; one of these coins was stolen when a church in Leeds was demolished in the 1960s, and its whereabouts is unknown. [ 9 ] A few pennies of Edward VIII exist, date 1937, but technically they are radiation 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. [ 10 ] Pennies were not minted every class of George VI ‘s reign : none were minted in 1941, 1942 and 1943. Pennies minted in 1950 and 1951 were for abroad use only. One 1952 penny, believed to be unique, was struck by the Royal Mint. The global dearth of canister during the second World War caused a change in the debase in 1944 to 97 % bull, 0.5 % can, 2.5 % zinc, but this bronze tarnishes unattractively, and the original 95.5 % bull, 3 % can, 1.5 % zinc debase was restored in 1945. Because of the boastfully numeral of pennies in circulation there was no want 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 home purposes at the Royal Mint, but it was not until 1961 that there was a need for more pennies to be minted, and product continued each year until 1967, and afterwards ( as pennies continued to be minted with the date 1967 until 1970 ). The 97 % copper, 0.5 % can, 2.5 % zinc admixture was used again for the 1960s pennies. last, there was an issue of proof quality coins go steady 1970 produced to bid farewell to the denomination .

Types and specifications [edit ]

eloquent [edit ]

Minted Image Size Weight Material Short summary
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.

copper [edit ]

Minted Image Size Weight Material Short summary
1797 36.0mm 28.3g 100% copper[11] The “cartwheel” penny was minted in copper, with a weight of 1 oz and a diameter of 1.4 in.[5] 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.[5] 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.[5] The word soho appears next to the shield, indicating that the coin came from the Soho Mint.[4]
1806–1807 34.0mm 18.8g 100% copper[12]
1825–1827 34.0mm 18.8g 100% copper[13] 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[14] GREAT BRITAIN, WILLIAM IV, 1831 -HALFPENNY b - Flickr - woody1778a.jpgGREAT BRITAIN, WILLIAM IV, 1831 -HALFPENNY a - Flickr - woody1778a.jpg 34.0mm 18.6g 100% copper[14] 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 Penny Great Britain, 1858, Victoria.jpg 34.0mm 18.8g 100% copper[15] The Young Head bust of Victoria was designed by William Wyon who died in 1851.

bronze [edit ]

Minted Image Size Weight Material hort summary
1860–1894 Penny Great Britain, 1888, Victoria.jpg 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.[16]
1902–1910 GREAT BRITAIN, EDWARD VII, 1905 -HALFPENNY b - Flickr - woody1778a.jpgGREAT BRITAIN, EDWARD VII, 1905 -HALFPENNY a - Flickr - woody1778a.jpg 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 One Penny 1912-2.JPGOne Penny 1912.JPG 31.0mm 9.4g 95% copper, 4% tin, 1% zinc
1925–1936[a] British pre-decimal penny 1936 obverse.pngBritish pre-decimal penny 1936 reverse.png 31.0mm 9.4g 95.5% copper, 3% tin, 1.5% zinc
1937–1943 1937 George VI penny.jpg 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 British pre-decimal penny 1967 obverse.pngBritish pre-decimal penny 1967 reverse.png 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.

Pennies by period [edit ]

Mintages [edit ]

note : The mintage figures where “ H ” or “ KN ” follows the year relates to coins minted with that especial mint mark. “ H ” refers to the Heaton Mint, and “ KN ” to the King ‘s Norton Mint, both of which were contracted to mint supplementary pennies on occasion. [ 24 ] From 1825 to 1970 a sum of 3,629,384,952 pennies were minted .

See besides [edit ]

Notes [edit ]

  1. ^ King George V ‘s raid was modified in 1927 to be smaller

References [edit ]

source :
Category : Finance

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