Penny sterling facts for kids
The penny sterling (plural pence) is a small coin used in the United Kingdom. It is a part of the Pound sterling, which is the official money of the UK. One pound is made up of 100 pence. So, if you have 100 pennies, you have one pound!
Contents
What is the Penny Sterling?
The penny is the smallest value coin in the UK. It is used every day for buying things. You might use pennies to pay for sweets, small toys, or to get exact change. The penny is an important part of the UK's money system.
A Look at the Modern Penny
Today's penny coin is made of steel and then covered with copper. This gives it a shiny, reddish-brown color. It has a smooth edge. On one side, you will see a picture of the current monarch, King Charles III. On the other side, there is a design that shows a part of the Royal Shield. This design was introduced in 2008.
- Size: The penny is about 20.3 millimeters (0.8 inches) wide.
- Weight: It weighs about 3.56 grams (0.12 ounces).
- Material: Copper-plated steel.
The History of the Penny
The penny has a very long history in Britain. For hundreds of years, the penny was a different kind of coin. Before 1971, the UK used a system where one pound was worth 20 shillings, and one shilling was worth 12 old pence. This meant there were 240 old pence in a pound!
Decimal Day: A Big Change
On 15 February 1971, the UK changed its money system to a simpler one. This day was called Decimal Day. From then on, one pound was divided into 100 new pence. This made it much easier to count money and do calculations. The old penny was replaced by the new, smaller decimal penny we use today.
- Before 1971: 1 pound = 240 old pence
- After 1971: 1 pound = 100 new pence
How Pennies are Used
Even though the penny is the smallest coin, it is still very useful. When you buy something that costs, for example, £1.99, you need those 99 pence to make the exact amount. Pennies are also collected by many people. Some people save them in a jar, while others look for special or rare pennies to add to their coin collections.
