Penny (British pre-decimal coin)

Penny of Queen Victoria, 1862. Note the ship at right, absent in later mintages.

By 1802, the production of privately issued provincial tokens had ceased.[6][7] 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.[7] 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.[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 later coins were smaller than the cartwheel pennies of 1797, and contained a smaller amount of copper.[5]

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".[8] 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.[8]

Because of their relatively large size and low value, pennies were a favourite of coin engravers.

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.[9]

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.[10]

A 1937 George VI penny. Note the change in design of the reverse, with the addition of the lighthouse and shield square which is not angled.

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.

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. George I and George II 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. George II pennies have GEORGIVS II DEI GRATIA inscribed on the obverse and MAG BRI FR ET HIB REX date on the reverse.

During George III's reign, three different obverses and five different reverses appeared on the penny. No silver pennies were minted at all between 1800 and 1817. The first obverse, showing a right-facing bust of the king, with the inscription GEORGIVS III DEI GRATIA, was used in 1763, 1766, 1770, 1772, 1776, 1779, 1780, 1781, 1784, and 1786; the second obverse, showing an older bust of the king and the same inscription, was used in 1792, 1795, and 1800, while the third, laureated bust of the king with the inscription GEORGIUS III DEI GRATIA date was used in 1817, 1818 and 1820. The first reverse, used until 1780, showed the crowned "I" in high relief, with the inscription MAG BRI FR ET HIB REX date across the crown; the second reverse, used until 1786, was similar but in lower relief, the "I" being much flatter; the third reverse, used in 1792 only, was completely redesigned with a much smaller "I" under a smaller crown with the inscription running around the crown, with the same legend as before. The fourth reverse, used in 1795 and 1800 was similar to the first but with a redesigned crown. The fifth reverse, used from 1817 onwards, showed the crowned "I" with the inscription BRITANNIARUM REX FID DEF date.

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]

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. 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.

Just three portraits of Queen Victoria were used on the penny in the whole of her reign: the Young Head (used from 1838 to 1859, with rare copper issues from 1860 - the 60 is struck over 59), designed by William Wyon (who died in 1851), whose eldest son Leonard Charles Wyon (1826–91) designed the bronze coinage of 1860 with the second ("bun") head (1860–1894 with scarce issues of the farthing in 1895), and finally the Old Head (or "veiled head") designed by Thomas Brock which was used on the penny from 1895 to 1901. Unlike the silver coinage, the Jubilee Head was not used on the bronze coins.

The first obverse showed the Young Head of the Queen, facing left, with the inscription VICTORIA DEI GRATIA with the date beneath the head; this obverse was used (with a slight alteration in 1858) until the end of the copper penny issue in 1860. Copper pennies were issued for all years between 1839 and 1860 except 1840, 1842, 1850, and 1852. The reverse of the coin for the whole of this period was similar to the William IV issue, with a seated right-facing Britannia holding a trident, except that most years the head of the trident was ornamented; the inscription read BRITANNIAR REG FID DEF.

The reverse of the bronze version of the coin, designed by Leonard Charles Wyon, is a seated Britannia, holding a trident, with the words ONE PENNY to either side. Issues before 1895 also feature a lighthouse to Britannia's left and a ship to her right. Various minor adjustments to the level of the sea depicted around Britannia, and the angle of her trident were also made over the years. Some issues feature toothed edges, while others feature beading.

Over the years, various different obverses were used. Edward VII, George V, George VI and Elizabeth II each had a single obverse for pennies produced during their respective reigns. Over the long reign of Queen Victoria two different obverses were used, and the short reign of Edward VIII meant no pennies bearing his likeness were ever issued.

The bronze penny was first issued with the so-called "bun head", or "draped bust" of Queen Victoria on the obverse. The inscription around the bust read VICTORIA D G BRITT REG F D. This was replaced in 1895 by the "old head", or "veiled bust".[11] The inscription on these coins read VICTORIA DEI GRA BRITT REGINA FID DEF IND IMP.

Coins issued during the reign of Edward VII feature his likeness and bear the inscription EDWARDVS VII DEI GRA BRITT OMN REX FID DEF IND IMP. Similarly, those issued during the reign of George V feature his likeness and bear the inscription GEORGIVS V DEI GRA BRITT OMN REX FID DEF IND IMP.

The obverse of the Edward VIII proof penny shows a left-facing portrait of the king (who considered this to be his better side, and consequently broke the tradition of alternating the direction in which the monarch faces on coins — some viewed this as indicating bad luck for the reign); the inscription on the obverse is EDWARDVS VIII D G BR OMN REX F D IND IMP.

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. 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. Regular minting of pennies was resumed in 1961. Pennies minted after this date bear the inscription ELIZABETH II DEI GRATIA REGINA F D.