johnny50
Jr. Member
This is my second coin found with my new Ace 250. It's a two penny minted in 1979. Notice on the back side, it says "new penny". I was instructed on the new vs. old of UK coinage from a co-worker this week. Way back in 1970, the UK govt conducted "decimalisation" of the monetary system. This changed the base value of their money and even the coins they used.
Used to be farthing were the smallest denmomination. From there it went to 1/2 penny, then penny, two penny, three penny (thripney bit), six penny. Twelve pennies made up a shilling.
Then 1/2 shilling, shilling, six shilling. 12 shillings made a pound. 144 pennies in a pound. No pound coin until recently.
There is also a 1/2 crown and a crown.
I've left a few out due to bad RAM, but this is mostly the way it used to be.
Today, there is a penny, 2 penny, 10 pence, 20 pence, 50 pence, 1 pound, 2 pound, and 5 pound coins. One pound is now 100 pence (penny=pence). When the change was made, there was a devaluation of the money (144p/pound to 100 p/pound) and the coins were marked "new". Nowadays, the coins do not say new, but only penny.
The fellow who explained it to me said he felt as if the UK had given us some of its history when it changed the system. Values of the coins had arisen during the Anglo-Saxon times and lasted until 1970.
So, today I found a "new 2 penny". This brings my total to 5 pence (3 US cents). Just a few more to go to pay off the Ace!
Johnny
Used to be farthing were the smallest denmomination. From there it went to 1/2 penny, then penny, two penny, three penny (thripney bit), six penny. Twelve pennies made up a shilling.
Then 1/2 shilling, shilling, six shilling. 12 shillings made a pound. 144 pennies in a pound. No pound coin until recently.
There is also a 1/2 crown and a crown.
I've left a few out due to bad RAM, but this is mostly the way it used to be.
Today, there is a penny, 2 penny, 10 pence, 20 pence, 50 pence, 1 pound, 2 pound, and 5 pound coins. One pound is now 100 pence (penny=pence). When the change was made, there was a devaluation of the money (144p/pound to 100 p/pound) and the coins were marked "new". Nowadays, the coins do not say new, but only penny.
The fellow who explained it to me said he felt as if the UK had given us some of its history when it changed the system. Values of the coins had arisen during the Anglo-Saxon times and lasted until 1970.
So, today I found a "new 2 penny". This brings my total to 5 pence (3 US cents). Just a few more to go to pay off the Ace!
Johnny
Attachments
Upvote
0
