British Pennies

Small Bronze Pennies: 1860–1967

Introduction to Small Bronze Pennies

In 1860, Britain made a fundamental change to its copper coinage: the large copper penny, which had served since 1797, gave way to a smaller bronze coin. This new penny would remain essentially unchanged in size and composition for over a century, until decimalization in 1971.[1]

Why the Change?

Standard Specifications (1860–1967)

Attribute Specification
Diameter30.8mm
Weight9.45g
Composition95% Copper, 4% Tin, 1% Zinc
EdgePlain
ObverseMonarch's portrait
ReverseBritannia seated (varied designs)

Victoria Bronze Pennies (1860–1901)

1967 Penny Obverse
1967 Elizabeth II (Obverse)
1967 Penny Reverse
1967 Britannia (Reverse)

Images: Wikimedia Commons (CC BY-SA)

Queen Victoria's bronze penny series spans three distinct portrait types across 41 years—the longest penny series for any British monarch.[2]

Portrait Types

1860–1894

"Bun Head"

Named for Victoria's hairstyle worn in a "bun" at the back. Designed by Leonard Charles Wyon. The most common Victorian penny type.

Key varieties: Beaded border (1860), toothed border (1860-on), signature positions.

1895–1901

"Old Head" / "Veiled Head"

A mature portrait showing the elderly queen wearing a veil and small crown. Designed by Thomas Brock.

Key feature: "ONE PENNY" in linear format on reverse.

1860 only

Beaded vs Toothed Border

The 1860 penny exists in two major varieties: beaded border (early) and toothed border (later). Both are collectible.

Bun Head Series (1860–1894)

Date Mintage (approx) Rarity Est. Value (VF)
1860 Beaded ~5,000,000 Scarce £50–200
1860 Toothed ~35,000,000 Common £10–30
1861 36,449,280 Common £8–25
1862 50,534,400 Common £6–20
1863 28,062,720 Common £8–25
1864 3,440,640 Scarce £25–80
1865 8,601,600 Common £12–35
1866 9,999,360 Common £10–30
1867 5,483,520 Scarce £20–60
1868 1,182,720 Rare £80–250
1869 2,580,480 Key Date £200–800
1870 5,695,025 Scarce £30–100
1871 1,290,318 Key Date £150–500
1872 8,494,572 Common £10–30
1873 8,494,200 Common £10–30
1874 5,621,865 Common £12–35
1874H Included Scarce £30–100
1875 10,691,040 Common £8–25
1875H 752,640 Scarce £35–120
1876H 1,175,200 Scarce £25–80
1877 9,624,747 Common £8–25
1878 2,764,470 Scarce £20–60
1879 7,666,476 Common £10–30
1880 3,000,831 Scarce £18–50
1881 2,302,362 Scarce £20–60
1881H 1,792,000 Scarce £25–80
1882H 7,526,400 Common £10–30
1882H no H Unknown Rare variety £500–2,000
1883 6,237,438 Common £8–25
1884 11,702,802 Common £6–20
1885 7,145,862 Common £8–25
1886 6,087,759 Common £8–25
1887 5,315,085 Common £8–25
1888 5,125,020 Common £8–25
1889 12,559,737 Common £6–20
1890 15,330,840 Common £6–20
1891 17,885,961 Common £6–18
1892 10,501,671 Common £6–20
1893 8,161,737 Common £6–20
1894 3,883,452 Scarce £15–45

Old Head Series (1895–1901)

Date Mintage Rarity Est. Value (VF)
1895 5,395,830 Common £6–20
1896 24,147,156 Common £4–15
1897 20,756,620 Common £4–15
1898 14,296,836 Common £5–18
1899 26,441,069 Common £4–15
1900 31,778,109 Common £4–15
1901 22,205,568 Common £4–15

Victoria Bronze Resources

Edward VII (1902–1910)

Edward VII's brief reign produced a short but interesting penny series. The new king's portrait, designed by George William de Saulles, shows Edward facing right—the opposite direction from his mother, following British tradition of alternating facing directions.[1]

Design Details

Designer: G.W. de Saulles

Obverse: Bare head of Edward VII facing right

Reverse: Britannia seated right, date in exergue

1902 "Low Tide" Variety

Sought-after early die state

The most famous Edward VII penny variety. Early die states show minimal water around the rocks beneath Britannia—the "low tide" effect. As dies wore, the water line became more prominent ("high tide").

Detection: Examine the sea below Britannia's feet; low tide examples show the rocks more exposed.

Premium: 2–3x over normal 1902 in comparable grades.

Date Mintage Rarity Est. Value (VF)
1902 26,976,768 Common £4–15
1902 Low Tide Included Scarce variety £15–60
1903 21,415,296 Common £5–18
1904 12,913,152 Common £6–20
1905 17,783,808 Common £5–18
1906 37,989,504 Common £4–12
1907 47,322,240 Common £3–10
1908 31,506,048 Common £4–12
1909 19,617,024 Common £5–15
1910 29,549,184 Common £4–12

Edward VII Penny Resources

George V (1911–1936)

1912 George V Penny
1912 First (Large) Head
1797 Cartwheel Penny
1797 Cartwheel Penny
1806 George III Penny
1806 Soho Mint

Images: Wikimedia Commons (CC BY-SA)

George V's 25-year reign encompasses some of the most collected British pennies, including the legendary 1933—Britain's rarest circulation-type coin. The series also includes World War I branch mint issues and two distinct portrait types.[2]

Portrait Types

1911–1927

First (Large) Head

Designed by Bertram Mackennal. Features a detailed portrait with pronounced beard detail. BM initials on truncation.

1928–1936

Modified (Small) Head

Slightly smaller portrait with modified hair and beard detail. Introduced for improved striking quality.

Branch Mint Issues (1912–1919)

During World War I, demand for pennies exceeded Royal Mint capacity. Private mints were contracted to produce coins, identifiable by mintmarks:[3]

Mintmark Mint Location Years Active
H Heaton Mint Birmingham 1912, 1918, 1919
KN Kings Norton Metal Co. Birmingham 1918, 1919

Mintmark location: To the left of the date on the reverse.

The 1933 Penny: Britain's Rarest

1933 Penny

Extremely Rare: 6–7 Known

No pennies were struck for circulation in 1933—existing stocks from previous years were sufficient. However, the Royal Mint produced a small number (estimated 6–7) for ceremonial purposes: to be placed under foundation stones of buildings constructed that year.[1]

Known Specimens

  • Royal Mint Museum
  • British Museum
  • Church of St. Cross, Middlesbrough (under foundation stone)
  • Church of St. Mary, Patrixbourne, Kent
  • Several in private collections

Value

When specimens appear at auction, they typically realize £100,000+. A 1933 penny sold in 2016 for over £72,000, and values have increased since.

Warning: Forgeries

Due to extreme value, forgeries exist—typically altered 1935 or 1938 pennies. Any claimed 1933 penny requires rigorous authentication by a major grading service.

Complete Date Run

Date Mintage Rarity Est. Value (VF)
1911 23,079,168 Common £3–10
1912 48,306,048 Common £2–8
1912H 16,800,000 Scarce £8–25
1913 65,497,872 Common £2–8
1914 50,820,997 Common £2–8
1915 47,310,807 Common £2–8
1916 86,411,165 Common £2–6
1917 107,905,436 Common £2–6
1918 84,227,372 Common £2–6
1918H 3,660,800 Scarce £10–35
1918KN Included Scarce £12–40
1919 113,761,090 Common £2–6
1919H 3,660,800 Scarce £10–35
1919KN Included Scarce £12–40
1920 124,693,485 Common £2–6
1921 129,717,693 Common £2–6
1922 16,346,711 Common £4–12
1926 4,498,519 Scarce £8–25
1926 ME Included Rare variety £80–300
1927 60,989,561 Common £2–8
1928 50,178,000 Common £2–8
1929 49,132,800 Common £2–8
1930 29,097,600 Common £3–10
1931 19,843,200 Common £3–10
1932 8,277,600 Scarce £6–20
1933 6–7 Extremely Rare £100,000+
1934 13,965,600 Common £3–10
1935 56,070,000 Common £2–6
1936 154,296,000 Common £1–5

George V Penny Resources

Edward VIII (1936)

The King Who Never Was (On Coins)

Edward VIII reigned for less than a year (January–December 1936) before abdicating to marry Wallis Simpson. His abdication came before any coins bearing his portrait were released for circulation.[1]

Pattern Pennies

The Royal Mint did prepare pattern (trial) pennies bearing Edward VIII's portrait. These are among the rarest British coins:

  • Designed by Humphrey Paget
  • Edward facing left (breaking tradition of alternating directions)
  • The King insisted on showing his "good side"
  • Extremely few examples survive

Value

When pattern pennies appear at auction: £50,000+

Most known examples are in museums or major institutional collections.

George VI (1937–1952)

George VI's penny series introduced a new Britannia design and saw the coin through World War II and into the post-war era. Two key dates—1950 and 1951—make this series interesting for collectors.[2]

Design Details

Obverse Designer: Humphrey Paget

Reverse Designer: Humphrey Paget (new Britannia)

The reverse features a redesigned Britannia, seated right with trident and shield, lighthouse and ship removed for a cleaner design.

Date Mintage Rarity Est. Value (VF)
1937 88,896,000 Common £1–4
1938 121,560,000 Common £1–4
1939 55,560,000 Common £1–5
1940 42,284,400 Common £2–6
1944 42,600,000 Common £2–6
1945 79,531,200 Common £1–4
1946 66,855,600 Common £1–4
1947 52,220,400 Common £1–4
1948 63,961,200 Common £1–4
1949 14,324,400 Common £2–8
1950 240,000 Key Date £25–80
1950 Proof ~17,000 Scarce £15–40
1951 120,000 Key Date £30–100
1951 Proof ~20,000 Scarce £15–40

Notes on 1950 and 1951

These low-mintage dates were struck primarily for inclusion in mint sets rather than general circulation. Most surviving examples are in better grades, making circulated pieces actually harder to find than proofs.

George VI Penny Resources

Elizabeth II (1953–1967)

The final pre-decimal penny series bears the portrait of Queen Elizabeth II. These coins remained in circulation until 1971's decimalization, when the old penny was replaced by the new half-penny.[1]

Design Details

Obverse Designer: Mary Gillick

Reverse: Britannia seated right (continuation of George VI design)

Date Mintage Rarity Est. Value (VF)
1953 1,308,400 Common £2–8
1953 Proof 40,000 Common £5–15
1954 0 (not struck) – –
1961 48,313,400 Common £0.50–2
1962 143,308,800 Very Common £0.25–1
1963 125,235,600 Very Common £0.25–1
1964 153,294,000 Very Common £0.25–1
1965 121,310,400 Very Common £0.25–1
1966 165,739,200 Very Common £0.25–1
1967 654,564,000 Extremely Common £0.10–0.50

The Gap Years: 1954–1960

No pennies were struck for circulation between 1954 and 1960 inclusive. Existing stocks were considered adequate, similar to the situation in 1933. Unlike 1933, no ceremonial pieces were produced during these years.

The 1967 Surge

Over 654 million pennies were struck in 1967—by far the highest mintage in British penny history. The Royal Mint anticipated hoarding as decimalization approached and produced vast quantities. As a result, 1967 pennies are the most common of all British pennies and have minimal collector value except in pristine uncirculated condition.

Elizabeth II Penny Resources

The End of an Era: Decimalisation

On 15 February 1971—"Decimal Day"—Britain converted from pounds, shillings, and pence (£sd) to a decimal currency. The old penny (1/240th of a pound) was replaced by the new penny (1/100th of a pound).[1]

Pre-decimal pennies remained legal tender until 31 August 1971, valued at 0.416 new pence (5 old pennies = 2 new pence). Most were subsequently melted, though billions survive in collector hands and accumulations.

The decimal penny (officially "one penny" or "1p") continues today, though it too faces an uncertain future as cash transactions decline. The pre-decimal penny, however, lives on as one of Britain's most collected coin series.

Sources & Further Reading