Penny

The penny (plural for value information pence ) is a formerly existing in many countries with British influence sub - currency unit. Word and thing are related to the occurring in the German-speaking world currency unit penny. Originally corresponded to a penny a fraction of a pound, in the ratio of 1 pound = 240 pence. Today the penny in the United Kingdom and its dependent territories exists as a subdivision of the pound sterling in 100 pence. In the U.S. and Canada Penny is the common name of a dime ( $ 0.01 ).

Middle Ages

The silver penny was probably introduced around the time of King Offa of Mercia 786 in the English inland. The name derives from the Old English word Penny Penig [ pɛnɪj ], pæniġ [ pænɪj ] (plural: peneġas, pæneġas ), formerly Pening ( penning, pending), which goes back as the German word penny on the same stem. The coins were similar in size and weight of the at this time widespread on the mainland denarius. Until the 1970s, the penny was abbreviated as d. This derives from the Latin denarius.

A Penny originally contained 1/240 of a Troy pound of silver ( a Troy Pound corresponds to 373 grams - that the penny had a weight of 1.55 g). To ensure the purity and the exact observance of the weight, was noted on the reverse side of a coin the name of the Münzschmieds and the Mint.

From the reign of King Offa of Penny was over the period of about 500 years, the only type of coin that was minted in England; up to the time when King Henry III. and later King Edward III. the minting of gold coins prompted.

See also the later Nominal farthing, shilling, Groat, Florin, Crown, Nobel, Guinea and Sovereign, which represented Penny Multiple or partial pieces.

19th century

After a few private imprints Kupferpennies were from 1797, the official embossed under the reign of George III. circulated. These copper coins were quite thick with a diameter of 36 mm and were " Cartwheels " ( wagon wheels ) called. Since 1830, the minting of silver pennies only for special sets of coins, the Maundy sets made ​​was. After 1860, weight and diameter were reduced and at the same back design, seated with Neptune's trident and shield Britannia, maintained up to decimalization.

Presence

It was not until 1971, the penny was adapted to the decimal system. Now instead of a 240stel a sterling he met a 100ths. To distinguish the decimal Penny " New Penny " was called ( new pence ); 1982 this addition but was dropped again.

Many British colonies and members of the British Commonwealth knew the penny as a monetary unit. Until the introduction of the euro and the Irish pound was divided into pence. Today there is the penny except for the UK only in the dependent areas Falkland Islands, Gibraltar, Guernsey, Isle of Man, Jersey and St. Helena. The 1- cent piece in the U.S., Canada and other former British colonies is also called " Penny ". Penny farthing is called in English the penny-farthing, in allusion to the very large front wheel and the very small rear.

1 Penny 1927 King George V

1 Penny 1931 King George V with reduced bust

1 Penny 1940 King George VI