History of the English penny (c. 600-1066)

The history of the English penny can be traced back to the Anglo-Saxon kingdoms of the 7th century: to the small, thick silver coins known to contemporaries as pæningas or denarii, though now often referred to as sceattas by numismatists. Broader, thinner pennies inscribed with the name of the king were introduced to southern England in the middle of the 8th century. Coins of this format remained the foundation of the English currency until the 14th century.

The history of Anglo-Saxon coinage spans more than five centuries, from the end of Roman rule in Britain in the 5th century, down to the death of Harold Godwinson at the Battle of Hastings on 14 October 1066. It can be divided into four basic phases:

In the gold phase of the coinage, the currency consisted overwhelmingly of gold tremisses or thrymsas of c. 1.10–1.30g, though a few solidi exist, modelled on Roman coins. Thereafter the currency was more or less based on a single denomination: the silver penny. In the early 870s the first round halfpennies were produced under Alfred the Great and Ceolwulf II of Mercia; these were produced sporadically and in small quantity until Edgar’s reform of the 970s, after which it became common to cut whole pennies into halves and quarters, often at the time of production. The only known examples of larger silver denominations are two ‘offering pieces’ produced in the reign of Alfred the Great weighing the equivalent of six regular pennies, which were made as alms-pieces, probably to be sent abroad.

Although gold ceased to be the predominant form of currency in the 7th century, from the late 8th century onwards there was some use of fine gold coinage for special, high-value transactions. These gold pieces were often known as mancuses. The form of gold coinage varied in the 8th and 9th centuries, drawing inspiration from Roman, Byzantine, Arabic and Carolingian gold coinages, but by the 10th century gold coins were made simply by striking a gold piece with the same dies as were used for regular minting of silver. Only eight English gold coins with intelligible legends survive from between the 8th century and 1066; there are also some coins that may or may not be of English origin which bear no legend, and specimens of contemporary foreign gold found in England.

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