History of the British penny (1901-1970)
The British penny ( 1⁄240 of a pound sterling), a large, pre-decimal coin continuing the series of pennies that began about the year 700, was struck intermittently during the 20th century until its withdrawal after 1970. Throughout the period 1901 to 1970, the obverse ("heads" side) of the bronze coin depicted the monarch who was reigning at the start of the year. The reverse featured an image of Britannia seated with shield, trident, and helm, originally created by Leonard Charles Wyon and based on an earlier design for the penny by his father William Wyon. The coins also were used in dominions and British colonies that had not issued their own coins.
The reverse design had in 1895 been modified by Engraver of the Royal Mint George William de Saulles. Following Queen Victoria's death in 1901, de Saulles was called upon to create a design for the obverse featuring Edward VII. This appeared on the penny in 1902, and remained in use until the year of King Edward's death, 1910. An obverse design by Sir Bertram Mackennal depicting George V went into use in 1911, and remained with some modification until the year of the King's death, 1936. No pennies were produced for commerce in 1933, as there were a sufficient number in circulation. At least seven were struck that year, mostly for placement beneath foundation stones and in museums; they are valuable today. Edward VIII's short reign is only represented by a single pattern coin, dated 1937. That year, a new obverse design depicting George VI by Humphrey Paget went into use. During the Second World War period of 1941 to 1943, pennies were struck only for the colonies; these are all dated 1940, the most recent year of production for the United Kingdom. After the war, demand for the penny began to diminish. Most of the 1950 and 1951 pieces were sent to Bermuda, with many retrieved from circulation and repatriated by British coin dealers because of their relative scarcity.
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