British Penny Future Less In Question

Numismatic News - At one time the United Kingdom had half and third farthings, farthings, halfpennies, and pennies. As inflationary pressures mounted the lowest of these denominations became non-functional and eventually were discontinued.

The third farthing was initially issued for circulation on Malta. The denomination ceased to be issued in 1913. The half farthing was issued for use in Ceylon (modern Sri Lanka) in 1828, later becoming legal tender in Great Britain as well. The farthing met its demise in 1960, while the halfpenny survived until 1984, the year in which the denomination was demonetized.

The penny has continued, even though the penny has been reduced in diameter from 30.86 millimeters to 20.3mm as of 1967 (a 30.86mm proof was issued in 1970).

For comparison, the current U.S. cent has a diameter of 19.05mm. The U.S. cent has also gone through a number of changes in both diameter and metal composition since its introduction in 1793. The English penny began as a silver coin of similar fabric to that of the denier used on most of continental Europe throughout the Middle Ages.

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