Episode 1362
History of the British penny (1901–1970)
Tue, 2021-Jan-26 00:11 UTC
Length - 4:35
Direct Link
Welcome to featured Wiki of the Day where we read the summary of the featured Wikipedia article every day.
The featured article for Tuesday, 26 January 2021 is History of the British penny (1901–1970).
The British penny (1⁄240 of a pound sterling), a large, pre-decimal coin continuing the series of pennies that began about the year 700, was struck intermittently during the 20th century until its withdrawal after 1970. Throughout the period 1901 to 1970, the obverse ("heads" side) of the bronze coin depicted the monarch who was reigning at the start of the year. The reverse featured an image of Britannia seated with shield, trident, and helm, originally created by Leonard Charles Wyon and based on an earlier design for the penny by his father William Wyon. The coins also were used in dominions and British colonies that had not issued their own coins.
The reverse design had in 1895 been modified by Engraver of the Royal Mint George William de Saulles. Following Queen Victoria's death in 1901, de Saulles was called upon to create a design for the obverse featuring Edward VII. This appeared on the penny in 1902, and remained in use until the year of King Edward's death, 1910. An obverse design by Sir Bertram Mackennal depicting George V went into use in 1911, and remained with some modification until the year of the King's death, 1936. No pennies were produced for commerce in 1933, as there were a sufficient number in circulation. At least seven were struck that year, mostly for placement beneath foundation stones and in museums; they are valuable today. Edward VIII's short reign is represented only by a single pattern coin, dated 1937. That year, a new obverse design depicting George VI by Humphrey Paget went into use. During the Second World War period of 1941 to 1943, pennies were struck only for the colonies; these are all dated 1940, the most recent year of production for the United Kingdom. After the war, demand for the penny began to diminish. Most of the 1950 and 1951 pieces were sent to Bermuda, with many retrieved from circulation and repatriated by British coin dealers because of their relative scarcity.
Although commerce did not require them, pennies bearing the likeness of Elizabeth II were minted in 1953 in sets sold to the public, using an obverse design by Mary Gillick. One 1954 penny was struck, for internal Mint purposes. By 1961, new pennies were needed again for circulation, and were produced in large numbers. The officials who planned decimalisation in the 1960s did not favour keeping the large bronze penny, whose value had been eroded by inflation. The last for circulation were dated 1967—a final proof set was dated 1970. The old penny quickly went out of use after Decimal Day, 15 February 1971 - there was no exact decimal equivalent, and the slogan "use your old pennies in sixpenny lots" explained that pennies and "threepenny bits" were accepted in shops only if the total value was six old pence (exactly 2 1⁄2 new pence). The old penny was demonetised on 31 August of that year.
This recording reflects the Wikipedia text as of 00:11 UTC on Tuesday, 26 January 2021.
For the full current version of the article, see History of the British penny (1901–1970) on Wikipedia.
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This has been Brian Neural. Thank you for listening to featured Wiki of the Day.
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