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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.
Coins are sometimes issued as special collectible commemorative versions, sold at a value higher than their face value. They are usually legal tender, but worth only their face value to pay debts. For example, in 2023 a 50 pence piece was announced, the first coin depicting King Charles III, and celebrating the fictional wizard Harry Potter ...
At the time of the 1702 London Mint Assay by Sir Isaac Newton, the silver content of British coinage was defined to be one troy ounce of sterling silver for 62 pence, or 502 mg per penny. Therefore, the value of the monetary pound sterling was equivalent to only 3.87 troy ounces (120 g) of sterling silver. This was the standard from 1601 to 1816.
Australian currency was originally based on British pounds, shillings and pence. That changed in 1966, when the country converted to Australian dollars and cents, similar to the U.S. system.
Before Decimal Day in 1971, sterling used the Carolingian monetary system , under which the largest unit was a pound (£) divisible into 20 shillings (s), each of 12 pence (d). The pre-decimal penny was demonetised on 1 September 1971, just over six months after decimalisation, and replaced (in effect) by the decimal half new penny , with + 1 ...
Here are some coins listed by Professional Coin Grading Services that are worth a pretty penny. Find More: 10 of the Most Valuable Pennies Discover More: 5 Low-Risk Ways To Grow Your Wealth in 2025
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