1 British New Penny Coin (GBP)

The British 1 New Penny coin was first introduced in 1971 as part of the United Kingdom’s historic decimalisation of currency, replacing the pre-decimal system of pounds, shillings and pence. The term “New Penny” was used from 1971 until 1981 to distinguish the decimal coinage from the old penny. From 1982 onwards, the wording was changed simply to “One Penny,” although the value remained the same.

The original 1 New Penny coin was struck in bronze and featured Arnold Machin’s portrait of Queen Elizabeth II on the obverse. Over time, the obverse portrait changed to reflect updated royal effigies, including later portraits by Raphael Maklouf, Ian Rank-Broadley, and Jody Clark. Despite portrait updates, the denomination and core specifications remained consistent until composition changes were introduced in 1992, when the coin shifted from bronze to copper-plated steel to reduce production costs.

On the reverse of the 1971–2008 issue, the coin features a crowned portcullis with chains, a badge historically associated with the Palace of Westminster and Parliament. The inscription “NEW PENNY” appears above the design on early issues, with the date positioned below. In 2008, the Royal Shield reverse was introduced as part of a redesigned UK coinage set, with the 1p coin displaying a segment of the shield that, when combined with other denominations, forms the full Royal Arms.

Although the 1 New Penny remains legal tender, large quantities of early bronze coins and mixed-date pennies are often found in jars, collections, charity holdings, or surplus coin stock. Many banks no longer accept loose or bulk coin deposits without strict limits or packaging requirements. If you would like to exchange leftover currency, our UK-based service offers a simple way to process surplus UK and foreign coins.

• Indicate the quantity of British 1 New Penny coins you want to exchange

• Click the ‘Add to your account’ button

• Your online account now shows the exchange value

High street banks frequently limit coin deposits, particularly in bulk quantities, and foreign coinage is usually refused altogether. We exchange leftover currency for individuals, charities, and businesses across the UK, providing a secure and convenient way to convert surplus coins into pounds rather than leaving them unused or stored away.