The scarcer early George V pennies are 1918 and 1919 with H or KN mintmarks to the left of the date, and 1926 with the Modified Effigy on the obverse. There is also a very rare variety of the 1922 penny with the modified reverse (lower relief and slightly smaller figure of Britannia) that was used on all the later George V pennies from 1927 to 1936.
Although not evident on this specimen, pennies of 1911-26 frequently suffered from 'ghosting', owing to the high relief of the large obverse portrait of George V. On a 'ghost penny', the King's silhouette can be seen in reverse in the fields either side of Britannia. The ghosting problem was finally resolved in 1928 when a smaller portrait of the King was adopted.





















