View source for Penny (British decimal coin)

{{Short description|Coin, one-hundredth of a pound sterling}}
{{for multi|the pre-decimal British one penny coin|Penny (British pre-decimal coin)|silver pennies produced after 1820|Maundy money}}
{{good article}}
{{Use British English|date=June 2019}}
{{Infobox coin
| Country             = United Kingdom
| Denomination        = One penny
| Value               = £0.01
| Unit                = 
| Mass                = 3.56
| Diameter            = 20.3
| Thickness           = ([[Bronze]]) 1.52 mm<br>([[Steel]]) 1.65
| Edge                = Plain
| Composition         = Bronze (1971–1991)<br>{{nowrap|[[Copper]]-plated [[steel]] (1992–)}}
| Years of Minting    = 1971–present<ref>{{cite web |url=https://www.royalmint.com/discover/uk-coins/coin-design-and-specifications/one-penny-coin/ |title=1p Coin |website=[[Royal Mint]] | date=15 February 1971 |access-date=9 August 2022}}</ref>
| Catalog Number      =
| Obverse             = [[File:British one penny coin 2023 obverse.jpg|150px]]
| Obverse Design      = [[Charles III|King Charles III]]
| Obverse Designer    = [[Martin Jennings]]
| Obverse Design Date = 2023
| Reverse             = [[File:British one penny coin 2023 reverse.jpg|150px]]
| Reverse Design      = [[Hazel dormouse]]
| Reverse Designer    = [[The Royal Mint]]
| Reverse Design Date = 2023
}}
{{History of the English penny}}

The [[United Kingdom|British]] decimal '''one penny''' ('''1p''') [[coin]] is a unit of currency and denomination of [[Coins of the United Kingdom|sterling coinage]] worth {{frac|1|100}} of one [[Pound sterling|pound]]. Its [[Obverse and reverse|obverse]] featured the profile of [[Queen Elizabeth II]] since the coin's introduction on 15 February 1971, the day British currency was [[Decimal Day|decimalised]], until her [[Death and state funeral of Elizabeth II|death on 8 September 2022]]. A new portrait featuring [[Charles III|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 reverse, designed by [[Matthew Dent (designer)|Matthew Dent]], features a segment of the [[Royal coat of arms of the United Kingdom|Royal Shield]] and was used from 2008 to 2022.<ref>{{Cite web|url=https://www.royalmint.com/discover/uk-coins/coin-design-and-specifications/one-penny-coin/|title=One Penny Coin | website=Royal Mint|access-date=2020-03-29}}</ref> The third and current reverse, featuring a [[hazel dormouse]], was introduced in 2023 following the accession of Charles III. The penny is the lowest value coin (in [[Real versus nominal value (economics)|real terms]]) ever to circulate in the United Kingdom.<ref name= "Value"/>

The penny was originally minted from [[bronze]], but since 1992 has been minted in [[Electroplating|copper-plated steel]] due to increasing copper prices.

There are an estimated 10.5 billion 1p coins in circulation as of 2016, with a total face value of around £105,000,000.

One penny coins are [[legal tender]] only for amounts up to the sum of 20p when offered in repayment of a debt;<ref>{{Cite legislation UK|type=act|year=1971|chapter=24|number=|act=Coinage Act|section=2}}</ref><ref name="Mint">{{Cite web |title=What are the legal tender amounts acceptable for UK coins? |url=https://www.royalmint.com/help/trm-faqs/legal-tender-amounts/ |access-date=9 April 2020 |website=The Royal Mint}}</ref> however, the coin's legal tender status is not normally relevant for everyday transactions.<ref name="Bank">{{Cite web |title=What is legal tender? |url=http://www.bankofengland.co.uk/knowledgebank/what-is-legal-tender |access-date=2019-05-05 |website=Bank of England |language=en}}</ref>

== Etymology ==
The word ''{{linktext|penny}}'' is derived from the [[Old English]] word ''penig,'' which itself comes from the [[Proto-Germanic language|proto-Germanic]] *''panninga.''<ref>{{Cite web|url=https://www.etymonline.com/word/penny|title=penny {{!}} Origin and meaning of penny by Online Etymology Dictionary|website=www.etymonline.com|language=en|access-date=2019-05-06}}</ref> 

The plural of ''penny'' when referring to a number of penny coins is ''pennies''; for example, "there were fifty pennies on the table". The plural of ''penny'' as a unit of currency is ''pence''; for example, "the item cost fifty pence".<ref>{{Cite web|url=https://www.lexico.com/en/definition/pence|archive-url=https://web.archive.org/web/20190903170213/https://www.lexico.com/en/definition/pence|url-status=dead|archive-date=September 3, 2019|title=pence {{!}} Definition of pence in English by Lexico|website=Lexico English|access-date=2019-09-03}}</ref>

== History ==
Prior to 1971, the United Kingdom had been using the [[£sd|pounds, shillings, and pence]] currency system. Decimalisation was announced by Chancellor of the Exchequer [[James Callaghan]] on 1 March 1966; one pound would be subdivided into 100 pence, instead of 240 pence as previously was the case.<ref>{{Cite Hansard|jurisdiction=United Kingdom|house=House of Commons|column=1120|url=https://api.parliament.uk/historic-hansard/commons/1966/mar/01/economic-situation#column_1120|date=1 March 1966|speaker=[[James Callaghan]]|position=Chancellor of the Exchequer|title=Economic Situation}}</ref>

This required new coins to be minted, to replace the pre-decimal ones.<ref>{{Cite news|url=https://www.bbc.com/news/business-12346083|title=What's that in old money?|last=Freeman|first=Len|date=2011-02-05|work=BBC News|access-date=2019-05-12|language=en-GB}}</ref><ref name=":4">{{Cite web|url=https://www.royalmint.com/discover/decimalisation/the-story-of-decimalisation/|title=The Royal Mint and decimalisation {{!}} The Royal Mint|website=www.royalmint.com|access-date=2019-05-12}}</ref> The original specification for the 1p coin was set out in the [[Decimal Currency Act 1969]], which was replaced by the [[Currency Act 1971]]. Both mandated the weight of the coin to be 3.564 grams ±0.0750g, and 2.032&nbsp;cm ±0.125&nbsp;mm in diameter.<ref>{{Cite legislation UK
| type = act
| year = 1971
| chapter = 24
| act = Coinage Act
| schedule = 1
| date = 1971-05-12
}}</ref> Subsequently, the [[Currency Act 1983]] allows for the standards of the 1p coin to be changed by [[Proclamation|royal proclamation]].<ref>{{Cite legislation UK
| type = act
| year = 1983
| chapter = 9
| number = 
| act = Currency Act
| section = 1
}}</ref>

The new 1p coins began production in December 1968 in the newly built Royal Mint facility in [[Llantrisant]], [[South Wales]]. 1,521,666,250 1p coins were minted between 1968 and the end of 1971.<ref name=":6" /> On 15 February 1971, the United Kingdom officially switched to a decimal currency and the new coins entered circulation.<ref>{{Cite web|url=http://www.royalmintmuseum.org.uk/coins/british-coinage/all-change-decimalisation/index7.html|title=All Change: Decimalisation|website=Royal Mint Museum|access-date=2019-05-12|archive-date=2019-08-31|archive-url=https://web.archive.org/web/20190831204203/http://www.royalmintmuseum.org.uk/coins/british-coinage/all-change-decimalisation/index7.html|url-status=dead}}</ref> The coins continue to be minted at this facility today.<ref>{{Cite web|url=https://www.royalmint.com/discover/uk-coins/making-the-coins-in-your-pocket/|title=Making the coins in your pocket {{!}} The Royal Mint|website=www.royalmint.com|access-date=2019-05-06}}</ref>

=== Metallic composition ===
The coin was originally minted in [[bronze]] (composition 97% [[copper]], 2.5% [[zinc]], 0.5% [[tin]]) between 1971 and September 1992. However, increasing world metal prices necessitated a change of composition. Since 1992, the coins are minted in steel and electroplated in copper, making them magnetic.<ref name=":0">{{Cite web|url=https://www.royalmint.com/discover/uk-coins/coin-design-and-specifications/one-penny-coin/|title=One Penny Coin {{!}} The Royal Mint|website=www.royalmint.com|access-date=2019-05-05}}</ref> Rising world prices for copper had caused the metal value of the pre-1992 copper 1p coin to exceed 1p (for example, in May 2006, the intrinsic metal value of a pre-1992 1p coin was about 1.5 pence).<ref>[https://www.telegraph.co.uk/news/uknews/1518128/Your-small-fortune-2p-coins-that-could-be-worth-3p-each.html Your small fortune: 2p coins that could be worth 3p each], ''Telegraph'', 12 May 2006</ref> Melting coins is illegal in the United Kingdom and is punishable by a fine, or up to two years imprisonment.<ref>{{Cite web|url=https://www.royalmint.com/help/coinage-faqs/destroying-coinage/|title=Destroying Coinage {{!}} The Royal Mint|website=www.royalmint.com|access-date=2019-05-09}}</ref><ref>{{Cite legislation UK
| type = act
| year = 1971
| chapter = 24
| act = Coinage Act
| section = 10
}}</ref>

=== Obverse designs ===
====Elizabeth II====
During the reign of [[Elizabeth II|Queen Elizabeth II]], four different [[obverse]]s were used. The outer inscription on the coin is {{small|ELIZABETH II [[British coinage#D.G.REG.F.D.|D.G.REG.F.D.]] 2013}},<ref name="bcoins">{{cite web|url=http://www.tclayton.demon.co.uk/decbr.html|title=Decimal Coins of the UK – Bronze|last=Clayton|first=Tony|website=Tony Clayton|access-date=2006-05-24|archive-date=2007-05-27|archive-url=https://web.archive.org/web/20070527210521/http://www.tclayton.demon.co.uk/decbr.html|url-status=dead}}</ref> where 2013 is replaced by the year of minting. In the original design both sides of the coin are encircled by dots, a common feature on coins, known as beading.

Anticipation of a switch to a decimalised currency led to the commissioning of a new Royal Portrait by artist Arnold Machin, which was approved by the Queen in 1964.<ref name=":5">{{Cite web|url=http://www.royalmintmuseum.org.uk/coins/british-coinage/all-change-decimalisation/index4.html|title=All Change Decimalisation|website=Royal Mint Museum|access-date=2019-05-12|archive-date=2019-08-31|archive-url=https://web.archive.org/web/20190831204133/http://www.royalmintmuseum.org.uk/coins/british-coinage/all-change-decimalisation/index4.html|url-status=dead}}</ref> This featured the Queen wearing the [[Girls of Great Britain and Ireland Tiara|'Girls of Great Britain and Ireland' Tiara]] and was used until 1984.<ref name=":0" /> A modified form of this portrait has appeared on British Postage stamps since 1967.<ref name=":1">{{Cite web|url=https://www.royalmint.com/discover/royalty/the-royal-portraits/|title=The five portraits of Her Majesty The Queen|website=www.royalmint.com|access-date=2019-05-11|archive-date=2020-11-15|archive-url=https://web.archive.org/web/20201115090042/https://www.royalmint.com/discover/royalty/the-royal-portraits/|url-status=dead}}</ref>

Between 1985 and 1997 a portrait by [[Raphael Maklouf]] was used.<ref name=":0" /> The portrait is [[couped]], and depicts the Queen wearing the [[George IV State Diadem]]. Unlike previous portraits, the Queen is wearing jewellery, earrings and a necklace. The initials of Maklouf {{Small|RDM}} are shown below the neck of the Queen. His middle name, David, is included so that the mark is not confused with the initials of the Royal Mint.<ref name=":1" />

In 1997, a competition to design the obverse of the 1997 Golden Wedding crown – a coin issued to celebrate the Queen's and Prince Philip's 50th wedding anniversary – was held. The standard of entry was so high that following this competition, the Royal Mint held another to design the new portrait.<ref>{{Cite news|url=https://www.bbc.com/news/uk-29929462|title=Coins to get new Queen's head|date=2014-11-06|work=BBC News|access-date=2019-05-11|language=en-GB}}</ref> [[Ian Rank-Broadley]] won this competition, and his design was used between 1998 and 2015.<ref name=":0" /> His design again featured the [[Girls of Great Britain and Ireland Tiara|tiara]], with a signature-mark {{small|IRB}} below the portrait.<ref>{{Cite web|url=http://www.ianrank-broadley.co.uk/work/royal-effigy/|title=Royal Effigy|website=Ian Rank-Broadley|language=en-US|access-date=2019-05-11}}</ref> The depiction of the Queen was seen as more realistic, with Rank Broadley himself saying "There is no need to flatter her. She is a 70-year-old woman with poise and bearing".<ref name=":1" />

In 2014, the Royal Mint again held a competition to design a new portrait.<ref name=":2">{{Cite news|url=https://www.bbc.com/news/uk-wales-40801798|title=Artist whose initials are in your pocket|last=Ballinger|first=Lucy|date=2017-08-12|work=BBC News|access-date=2019-05-11|language=en-GB}}</ref> Designer [[Jody Clark]] won this competition, with a portrait of the Queen wearing the George IV State Diadem and the initials {{Small|JC}} feature under the neck of the Queen.<ref name=":0" /><ref name=":1" /> The portrait was sketched without an official sitting, only using reference material for inspiration.<ref name=":2" />

====Charles III====
In October 2023, a new design featuring a left facing uncrowned bust of the newly crowned [[Charles III|King Charles III]] was revealed.<ref name ="Children counting">{{cite news|url=https://www.bbc.com/news/business-67091137|work= [[BBC News]]|title=King Charles III new coins designed to help children to count|access-date = 11 January 2025|date = 13 October 2023}}</ref><ref name = "First Definitives">{{cite web|url=https://www.royalmint.com/annual-sets/2023/definitives/|title= 2023 Definitives: His Majesty King Charles III’s First Definitive Coins| website=[[Royal Mint]]|access-date = 11 January 2025}}</ref> The outer inscription on the coin is {{small|CHARLES III.[[British coinage#Obverse designs|DEI.GRA.REX.FID.DEF.]] 2023}}, where 2023 is replaced by the year of minting. The design of the 2023 proof and uncirculated sets also included a Tudor crown [[privy mark]]. Subsequent sets and coins struck for circulation do not include this mark.

=== Reverse designs ===
Despite no official government confirmation of a switch to decimalised currency, the Royal Mint began the design process for decimal coins in 1962. They invited the [[Royal Academy of Arts|Royal Academy]], the [[Royal Institute of British Architects]], the [[Royal Designers for Industry|Faculty of the Royal Designers for Industry]] and the [[Royal College of Art]] to nominate artists to design the hypothetical new coins. British sculptor Christopher Ironside won this competition, and his design was chosen to feature on the potential decimalised currency. His design for the 1p coin featured a Scottish theme, with a coin depicting a thistle above a Scottish flag inside a shield and a Scottish lion inside a shield.<ref name=":3">{{Cite web|url=https://www.royalmint.com/discover/decimalisation/unseen-ironside-designs/|title=The UK coins that were never made {{!}} The Royal Mint|website=www.royalmint.com|access-date=2019-05-12}}</ref> However, Chancellor [[James Callaghan]]'s announcement that the United Kingdom would decimalise its currency included an open competition to find the new designs. Over 80 artists and 900 different designs were submitted.<ref name=":5" /> Ironside entered this competition with a further, different style of designs and won.<ref name=":3" /><ref>{{Cite web|url=https://www.royalmint.com/discover/decimalisation/christopher-ironsides-decimal-designs/|title=Christopher Ironside's designs {{!}} The Royal Mint|website=www.royalmint.com|access-date=2019-05-12}}</ref>

[[File:British one penny coin 1999 reverse.png|thumb|100px|left|Portcullis reverse: 1982–2008|alt=]]The [[Obverse and reverse|reverse]] of the coin, which was minted from 1971 to 2008, featured a crowned [[portcullis]] with chains (an adaptation of the Badge of [[Henry VII of England|Henry VII]] which is now the Badge of the [[Palace of Westminster]]), with the numeral "1" written below the portcullis, and either {{small|NEW PENNY}} (1971–1981) or {{small|ONE PENNY}} (1982–2008) above the portcullis.<ref name=":0" />

In August 2005 the [[Royal Mint]] launched a [[Coins of the pound sterling#Reverse designs (from 2008)|competition]] to find new reverse designs for all circulating coins apart from the £2 coin.<ref>[http://news.bbc.co.uk/1/hi/uk/4160122.stm "Royal Mint seeks new coin designs"], BBC News, 17 August 2005</ref> The winner, announced in April 2008, was [[Matthew Dent (designer)|Matthew Dent]], whose designs were gradually introduced into circulating British coinage from mid-2008.<ref>[http://www.dofonline.co.uk/economy/royal-mint-unveils-new-uk-coins.html "Royal Mint unveils new UK coins"] {{webarchive|url=https://web.archive.org/web/20090307030121/http://www.dofonline.co.uk/economy/royal-mint-unveils-new-uk-coins.html |date=2009-03-07 }}, 2 April 2008</ref> The designs for the 1p, 2p, 5p, 10p, 20p and 50p coins depict sections of the [[Royal coat of arms of the United Kingdom|Royal Shield]] that form much of the whole shield when placed together. The entire shield was featured on the now-obsolete round £1 coin.<ref>{{Cite news|url=http://news.bbc.co.uk/2/hi/uk_news/7326491.stm|title=Royal Mint unveils coin designs|date=2008-04-02|work=BBC News|access-date=2019-05-05|language=en-GB}}</ref> The 1p coin depicts the left section between the first and third quarter of the shield, representing [[England]] and [[Northern Ireland]].
The coin's obverse remains largely unchanged, but the beading (the ring of dots around the coin's circumference), which no longer features on the coin's reverse, has also been removed from the obverse.<ref>{{Cite news|url=http://news.bbc.co.uk/2/hi/uk_news/7327144.stm|title=In Pictures: UK coins unveiled|date=2008-04-02|work=BBC News|access-date=2019-05-05|language=en-GB}}</ref>

In October 2023 the King Charles III one penny coin was presented; the coin design features a [[hazel dormouse]].<ref name ="Children counting"/><ref name = "First Definitives"/>

== Status ==

=== Speculation on withdrawal ===
The proposed withdrawal of the 1p coins has been subject of media speculation, such as in 2015 when the Chancellor of the Exchequer, [[George Osborne]], proposed the withdrawal of the 1p coin. This was vetoed by Prime Minister [[David Cameron]], because of the potential unpopularity with the public.<ref>{{Cite news|url=https://www.theguardian.com/politics/2017/jun/29/change-we-need-david-cameron-vetoed-plan-to-scrap-1p-piece|title=George Osborne came within weeks of scrapping the penny|last=Asthana|first=Anushka|date=2017-06-30|work=The Guardian|access-date=2019-05-05|language=en-GB|issn=0261-3077}}</ref>

In March 2018, the Government launched a consultation on the future of payments in the British economy. One question focused on the denominational mix of coins, including 'dormant' denominations.<ref>{{Cite web|url=https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/689234/Cash_and_digital_payments_in_the_new_economy.pdf|title=Cash and digital payments in the new economy: call for evidence|last=HM Treasury|date=March 2018|website=gov.uk|access-date=5 May 2019}}</ref> This prompted speculation that the 1p and 2p coins could be withdrawn from circulation.<ref>{{Cite news|url=https://www.bbc.com/news/business-43388662|title=Is this the end for 1p and 2p coins?|last=Peachey|first=Kevin|date=2018-03-13|work=BBC News|access-date=2019-05-05|language=en-GB}}</ref><ref>{{Cite news|url=https://www.theguardian.com/uk-news/2018/mar/13/1p-2p-coins-demand-treasury-50-note-digital|title=All change? Future of 1p and 2p coins in doubt as demand falls|last=Monaghan|first=Angela|date=2018-03-13|work=The Guardian|access-date=2019-05-05|language=en-GB|issn=0261-3077}}</ref> Analysis from staff at the [[Bank of England]] concluded that fears about the withdrawal were 'unfounded' and that there would be no significant impact on prices if copper coins were scrapped, noting the sharp decline in usage of copper coins. It is estimated that 60% of copper coins are only spent once, before being removed from the cash cycle, as they are saved or binned. Approximately 8% of 1p coins are estimated to be thrown away entirely, requiring the annual minting of new 1p and 2p coins with a face value of £500m to replace coins falling out of circulation.<ref>{{Cite news|url=https://www.theguardian.com/business/2018/aug/22/bank-report-reopens-debate-on-scrapping-1p-and-2p-coins|title=Risk of scrapping 1p and 2p coins 'unfounded'|last=Monaghan|first=Angela|date=2018-08-22|work=The Guardian|access-date=2019-05-05|language=en-GB|issn=0261-3077}}</ref> Further, potential inflationary effects from the rounding of prices caused by scrapping the 1p would likely be minimal, given only 3% of payments by value are made in cash and card payments would continue to be made unrounded.<ref>{{cite web|url=https://bankunderground.co.uk/2018/08/22/opposing-change-the-price-impact-of-removing-the-penny/|title=Price Impact of Removing the Penny|last=Angeli|first=Marilena|last2=Meaning|first2=Jack|date=2018-08-22|website=Bank Underground|access-date=2019-07-09}}</ref>

There was concern raised by some charities and businesses over the scrapping of 1p coins. Charities feared that the number of donations made in collection pots would fall and some business models could be severely impacted, for example traditional seaside arcades.<ref>{{Cite web|url=https://www.itv.com/news/2019-04-29/is-the-penny-about-to-drop-seasiders-react-to-possible-end-of-one-pence-and-two-pence-coins/|title=Why we probably won't stop spending pennies any time soon|website=ITV News|language=en|access-date=2019-09-07}}</ref><ref>{{Cite news|url=https://www.thetimes.com/business-money/economics/article/look-after-the-penny-treasury-reprieves-1p-coin-07cv5n2d8|title=Look after the penny: Treasury reprieves 1p coin|last=Caroline Wheeler|first=Sabah Meddings and|date=2019-04-28|work=The Sunday Times|access-date=2019-09-07|language=en|issn=0956-1382}}</ref> However, in May 2019 Chancellor [[Philip Hammond|Phillip Hammond]] announced the outcome of a 2018 consultation, suggesting there were no plans to scrap copper coins and that he wanted the public to "have choice over how they spend their money".<ref>{{Cite web|url=https://www.gov.uk/government/news/cash-here-to-stay-as-government-commits-to-protecting-access|title=Cash here to stay as government commits to protecting access|last=HM Treasury|date=3 May 2019|website=gov.uk|access-date=3 September 2019}}</ref><ref>{{Cite news|url=https://www.bbc.com/news/business-48133093|title=Future of 1p and 2p coins secured|last=Peachey|first=Kevin|date=2019-05-03|work=BBC News|access-date=2019-05-05|language=en-GB}}</ref> No 1p coins were minted in 2018, as the Treasury said that there were already enough in circulation.<ref name=":7">{{Cite news|url=https://www.bbc.com/news/uk-49275300|title=No new 1p coins for first time in decades|date=2019-08-08|work=BBC News|access-date=2019-09-03|language=en-GB}}</ref><ref>{{Cite news|url=https://www.theguardian.com/money/2019/aug/07/royal-mint-paused-creation-of-1p-and-2p-coins-last-year|title=Royal Mint makes no 1p or 2p coins for first time in decades|last=Media|first=P. A.|date=2019-08-07|work=The Guardian|access-date=2019-09-07|language=en-GB|issn=0261-3077}}</ref>

===Value===
Since around 2002, the penny has had the lowest value in [[Real versus nominal value (economics)|real terms]] of any coin in the history of the United Kingdom, since at least its formation by the [[Acts of Union 1707|Acts of Union]] in 1707. All previous low-value coins were withdrawn before their purchasing power fell below the current value of the penny.<ref name= "Value">{{Cite news|url=https://www.bbc.com/news/business-48153442|title=What is the least valuable British coin ever?|last=Reuben|first=Anthony|date=2019-06-01|work=BBC News|access-date=2019-06-01|language=en-GB}}</ref> The purchasing power of previous lowest-value coins is:

{| class="wikitable" <!-- Note to editors: the 'current' year is derived automatically from the latest available source data and does not need to be (and should not be) revised manually -->
!Coin
!Face value<br><small>(fraction<br>of £1)</small> 
!Withdrawn
!{{Inflation/year|UK}} equivalent<br>purchasing power<br>at withdrawal{{Inflation/fn|UK}}
|-
|[[Half farthing]]
|{{Frac|1|1920}}
|1869/1870
|{{Inflation|UK|0.05208333|1870|r=1}}p
|-
|[[Farthing (British coin)|Farthing]]
|{{Frac|1|960}}
|1960
|{{Inflation|UK|0.1041666|1960|r=1}}p
|-
|[[Halfpenny (British pre-decimal coin)|Pre-decimal halfpenny]]
|{{Frac|1|480}}
|1969
|{{Inflation|UK|0.208333|1969|r=1}}p
|-
|[[Penny (British pre-decimal coin)|Pre-decimal penny]]
|{{Frac|1|240}}
|1971
|{{Inflation|UK|0.416666|1971|r=1}}p
|-
|[[Halfpenny (British decimal coin)|Decimal halfpenny]]
|{{Frac|1|200}}
|1984
|{{Inflation|UK|0.5|1984|r=1}}p
|}

==Types and specifications==
{| class="wikitable"
! Minted
! Image
! Obverse designer
! Reverse designer
! Material
! Diameter
! Weight
|-
| 1971—1981
| [[File:British one penny coin 1971 obverse.jpg|100px]][[File:British one penny coin 1971 reverse.jpg|100px]]
| rowspan=2|Arnold Machin
| rowspan=5|Christopher Ironside
| rowspan=3|Bronze
| rowspan=8|20.3 mm
| rowspan=8|3.56g
|-
| 1982—1984
| [[File:British one penny coin 1971 obverse.jpg|100px]][[File:British one penny coin 1999 reverse.png|100px]]
|-
| 1985—1992
| rowspan=2| [[File:British one penny coin 1989 obverse.jpg|100px]][[File:British one penny coin 1999 reverse.png|100px]]
| rowspan=2|Raphael David Maklouf
|-
| 1992—1997
| rowspan=5|Copper-plated steel
|-
| 1998—2008{{efn|Proof and uncirculated sets in 1999 were struck in bronze as well as copper-plated steel}}
| [[File:Illustration of the 2001 issue UK penny obverse.jpg|100px]][[File:British one penny coin 1999 reverse.png|100px]]
| rowspan=2|Ian Rank-Broadley
|-
| 2008—2015
| [[File:Illustration of the 2001 issue UK penny obverse.jpg|100px]][[File:British one penny_coin 2015 reverse.png|100px]]
| rowspan=2|Matthew Dent
|-
| 2015—2022
| [[File:British one penny coin 2016 obverse.png|100px]][[File:British one penny_coin 2015 reverse.png|100px]]
| Jody Clark
|-
| 2023—present
| [[File:British one penny coin 2023 obverse.jpg|100px]][[File:British one penny coin 2023 reverse.jpg|100px]]
| Martin Jennings
| The Royal Mint<ref>{{Cite news |last=Banfield-Nwachi |first=Mabel |date=2023-10-12 |title=Royal Mint unveils new coin design inspired by King Charles |url=https://www.theguardian.com/uk-news/2023/oct/12/royal-mint-unveils-new-coin-design-inspired-by-king-charles |access-date=2025-08-09 |work=The Guardian |language=en-GB |issn=0261-3077}}</ref>
|}
{{notelist}}

==Mintages==

{| class="toccolours collapsible " style="width:100%; background:inherit"
|-
! Elizabeth II (Machin portrait)<ref name=":6">{{cite web|url=https://www.royalmint.com/corporate/circulating-coin/uk-currency/mintages/1-penny/|title=Penny Mintage Figures (1p)|website=Royal Mint  | archiveurl  = https://archive.today/20241012143839/https://www.royalmint.com/corporate/circulating-coin/uk-currency/mintages/1-penny/ | archivedate = 12 October 2024 |access-date=12 October 2024}}</ref>
|-
|{{div col|colwidth=25em}}
* 1971 ~ 1,521,666,250
* 1972 ~ 150,000 (In proof sets only)<ref>{{cite book |author=<!--Not stated--> |date=2022 |title=Coins of England & The United Kingdom Decimal Issues|edition=8th |url= |location=London |publisher=[[Spink & Son|Spink & Son Ltd]] |page=141 |isbn=978-1-912667-84-0}}
</ref>
* 1973 ~ 280,196,000
* 1974 ~ 330,892,000
* 1975 ~ 221,604,000
* 1976 ~ 300,160,000
* 1977 ~ 285,430,000
* 1978 ~ 292,770,000
* 1979 ~ 459,000,000
* 1980 ~ 416,304,000
* 1981 ~ 301,800,000
* 1982 ~ 100,292,000
* 1983 ~ 243,002,000
* 1984 ~ 154,759,625
{{div col end}}
|}
{| class="toccolours collapsible " style="width:100%; background:inherit"
|-
! Elizabeth II (Maklouf portrait)<ref name=":6" />
|-
|{{div col|colwidth=25em}}
* 1985 ~ 200,605,245
* 1986 ~ 369,989,130
* 1987 ~ 499,946,000
* 1988 ~ 793,492,000
* 1989 ~ 658,142,000
* 1990 ~ 529,047,500
* 1991 ~ 206,457,600
* 1992 ~ 253,867,000
* 1993 ~ 602,590,000
* 1994 ~ 843,834,000
* 1995 ~ 303,314,000
* 1996 ~ 723,840,060
* 1997 ~ 396,874,000
{{div col end}}
|}
{| class="toccolours collapsible " style="width:100%; background:inherit"
|-
! Elizabeth II (Rank-Broadley portrait)<ref name=":6" />
|-
|{{div col|colwidth=25em}}
* 1998 ~ 739,770,000
* 1999 ~ 891,392,000
* 2000 ~ 1,060,420,000
* 2001 ~ 928,698,000
* 2002 ~ 601,446,000
* 2003 ~ 539,436,000
* 2004 ~ 739,764,000
* 2005 ~ 536,318,000
* 2006 ~ 524,605,000
* 2007 ~ 548,002,000
* 2008 ~ 180,600,000 (Ironside reverse)
* 2008 ~ 507,952,000 (Dent reverse)
* 2009 ~ 556,412,800
* 2010 ~ 609,603,000
* 2011 ~ 431,004,000
* 2012 ~ 227,201,000
* 2013 ~ 260,800,000
* 2014 ~ 464,801,520
* 2015 ~ 154,600,000
{{div col end}}
|}
{| class="toccolours collapsible " style="width:100%; background:inherit"
|-
! Elizabeth II (Clark portrait)<ref name=":6" />
|-
|{{div col|colwidth=25em}}
* 2015 ~ 418,201,016
* 2016 ~ 368,482,000
* 2017 ~ 240,999,600
* 2018 ~ 33,086 (In proof and uncirculated sets only)<ref>{{cite web |url=https://www.royalmint.com/discover/uk-coins/mintage-figures/2018-dated-uk-commemorative-coin-sales/ |title=2018 Dated UK Commemorative Coin Sales  |author=<!--Not stated--> |date= |website=The Royal Mint |publisher=The Royal Mint Lmited |access-date=6 October 2024 |quote=}}</ref>
* 2019 ~ 44,158 (In proof and uncirculated sets only)<ref>{{cite web |url=https://www.royalmint.com/discover/uk-coins/mintage-figures/2019-dated-uk-commemorative-coin-sales/ |title=2019 Dated UK Commemorative Coin Sales  |author=<!--Not stated--> |date= |website=The Royal Mint |publisher=The Royal Mint Lmited |access-date=6 October 2024 |quote=}}</ref>
* 2020 ~ 88,071,910
* 2021 ~ 56,000,000
* 2022 ~ 30,000,000
{{div col end}}
|}
{| class="toccolours collapsible " style="width:100%; background:inherit"
|-
! Charles III<ref name=":6" />
|-
|
* 2023 ~ 600,000 ([[Hazel dormouse]])
* 2024 ~ Not yet known
* 2025 ~ Not yet known
|}

==See also==
{{Portal|Money|Numismatics|United Kingdom}}
* [[History of the British penny (1714–1901)]]
* [[History of the British penny (1901–1970)]]

==References==
{{Reflist|30em}}

==External links==
* [http://www.royalmint.com/discover/uk-coins/coin-design-and-specifications/one-penny-coin Royal Mint - 1p coin]
* [https://onlinecoin.club/Coins/CoinType/United_Kingdom/One_Penny/ Coins from United Kingdom / Coin Type: One Penny - Online Coin Club]

{{British coinage}}

{{DEFAULTSORT:Penny (British Decimal Coin)}}
[[Category:Coins of the United Kingdom]]
[[Category:Pennies]]
[[Category:Currencies introduced in 1971]]
[[Category:Decimalisation]]
[[Category:1971 establishments in the United Kingdom]]