Decimal (1971-Now)

The British decimal one penny (1p) coin, produced by the Royal Mint, was issued on 15 February 1971, the day the British currency was decimalised. In practice, it had been available from banks in bags of £1 for some weeks previously. more...

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The coin, known at first as a "new penny", was initially minted from bronze, but since 1992 it has been minted in copper-plated steel . As this is less dense than bronze, post-1992 coins have been slightly thicker, as well as becoming magnetic. The coin weighs 3.56 grams and has a diameter of 20.32 millimetres.

One penny and two pence coins are legal tender only up to the sum of 20p; this means that it is permissible to refuse payment of sums greater than this amount in one and two pence coins in order to settle a debt .

Design

The reverse of the coin, designed by Christopher Ironside, is a crowned portcullis with chains (an adaptation of the Badge of Henry VII which is now the Badge of the Palace of Westminster) , with the numeral "1" written below the portcullis, and either NEW PENNY (1971–1981) or ONE PENNY (1982–present) above the portcullis.

To date, three different obverses have been used. In all cases, the inscription is ELIZABETH II D.G.REG.F.D. year. Both sides of the coin are encircled by dots.

1971–1984

1985–1997

1998 onwards

Read more at Wikipedia.org