Penny & Poppy Reversible Baby Blanket P65 Warnings

Unit of measurement of currency in diverse countries

This article is almost the coin. For other uses of "penny" or "pennies", meet Penny (disambiguation).

From top to bottom: a penny depicting Male monarch Offa of Mercia; a 1929 South African penny; a 2013 one-cent coin from the Us (colloquially called a penny). Worth 1/100 of 1 USD (U.S Dollar). Equally a decimal, it is written as $0.01.

A penny is a coin ( pl. pennies) or a unit of currency (pl. pence) in diverse countries. Borrowed from the Carolingian denarius (hence its former abridgement d.), it is unremarkably the smallest denomination within a currency system. Presently, it is the formal name of the British penny ( abbr. p) and the de facto proper name of the American one-cent coin ( abbr. ¢) as well as the informal Irish designation of the 1 cent euro coin ( abbr. c). It is the informal proper noun of the cent unit of measurement of account in Canada, although one-cent coins are no longer minted at that place.^[i] The name is as well used in reference to diverse historical currencies also derived from the Carolingian system, such as the French denier and the German pfennig. Information technology may also be informally used to refer to whatsoever like smallest-denomination coin, such as the euro cent or Chinese fen.

The Carolingian penny was originally a 0.940-fine argent money weighing 1⁄240 pound. It was adopted past Offa of Mercia and other English kings and remained the principal currency in Europe over the next few centuries until repeated debasements necessitated the development of more than valuable coins. The British penny remained a silverish coin until the expense of the Napoleonic Wars prompted the use of base of operations metals in 1797. Despite the decimalization of currencies in the United States and, later, throughout the British Commonwealth, the name remains in informal use.

No penny is currently formally subdivided, although farthings (¼d), halfpennies, and half cents have previously been minted and the manufacturing plant (1/10¢) remains in employ every bit a unit of account in some contexts.

Etymology [edit]

Penny is get-go attested in a 1394 Scots text,^{[n 1]} a variant of Old English language peni , a development of numerous variations including pennig , penning , and pending .^{[n ii]} The etymology of the term "penny" is uncertain, although cognates are common across almost all Germanic languages^{[n 3]} and suggest a base of operations *pan-, *pann-, or *pand- with the individualizing suffix -ing. Common suggestions include that it was originally *panding as a Low Franconian form of Old High German language pfant "pawn" (in the sense of a pledge or debt, as in a pawnbroker putting upwards collateral as a pledge for repayment of loans); *panning as a class of the West Germanic word for "frying pan", presumably owing to its shape; and *ponding as a very early borrowing of Latin pondus ("pound").^[3] Recently, it has been proposed that information technology may represent an early borrowing of Punic pn (Pane or Pene, "Face"), as the face of Carthaginian goddess Tanit was represented on most all Carthaginian currency.^[4] Following decimalization, the British and Irish coins were marked "new penny" until 1982 and 1985, respectively.

From the 16th century, the regular plural pennies fell out of apply in England when referring to a sum of money (e.chiliad. "That costs tenpence."), but continued to exist used to refer to more than than 1 penny coin ("Here you are, a sixpence and four pennies."). It remains mutual in Scottish English and is standard for all senses in American English,^[three] where, however, the informal "penny" is typically only used of the coins in any case, values being expressed in "cents".^[5] The breezy proper noun for the American cent seems to have spread from New York State.^[6]

In Britain, prior to decimalization, values from two to eleven pence were often written and spoken every bit a single word, as twopence or tuppence, threepence or thruppence, etc. (Other values were ordinarily expressed in terms of shillings and pence or written as two words, which might or might not be hyphenated.) Where a unmarried coin represented a number of pence, it was treated as a single substantive, every bit a sixpence. Thus, "a threepence" (but more usually "a threepenny bit") would exist single coin of that value whereas "three pence" would be its value and "three pennies" would be iii penny coins. In British English, divisions of a penny were added to such combinations without a conjunction, as sixpence-farthing, and such constructions were besides treated every bit unmarried nouns. Adjectival use of such coins used the ending -penny, as sixpenny.^[3]

The British abridgement d. derived from the Latin denarius . It followed the corporeality, due east.one thousand. "11d". Information technology has been replaced since decimalization by p, ordinarily written without a space or period. From this abbreviation, it is common to speak of pennies and values in pence as "p".^[3] In Due north America, it is mutual to abridge cents with the currency symbol ¢. Elsewhere, it is usually written with a uncomplicatedc.

History [edit]

Antiquity [edit]

The medieval silver penny was modeled on similar coins in artifact, such every bit the Greek drachma, the Carthaginian shekel, and the Roman denarius. Forms of these seem to have reached every bit far as Norway and Sweden.^{[ citation needed ]} The utilise of Roman currency in Britain seems to have fallen off after the Roman withdrawal and subsequent Saxon invasions.

Frankish Empire [edit]

Charlemagne'south begetter Pepin the Curt instituted a major currency reform around AD 755, ^[vii] aiming to reorganise Francia'due south previous silverish standard with a standardized .940-fine denier (Latin: denarius) weighing ¹⁄₂₄₀ pound.^[8] (As the Carolingian pound seems to take been well-nigh 489.v grams,^{[9] [ten]} each penny weighted about 2 grams.) Around 790, Charlemagne introduced a new .950 or .960-fine penny with a smaller bore. Surviving specimens have an average weight of 1.70 grams, although some estimate the original ideal^{[ clarification needed ]} mass at 1.76 grams. ^{[xi] [12] [thirteen]} But despite the purity and quality of these pennies, they were often rejected past traders throughout the Carolingian period in favor of the golden coins used elsewhere; this led to repeated legislation against such refusal to take the king'southward currency.^[14]

England [edit]

Some of the Anglo-Saxon kingdoms initially copied the solidus, the tardily Roman aureate coin; at the time, however, aureate was so rare and valuable that fifty-fifty the smallest coins had such a great value that they could merely exist used in very large transactions and were sometimes not available at all. Effectually 641–670, there seems to accept been a motility to utilize coins with a lower gold content. This decreased their value and may have increased the number that could be minted, but these paler coins exercise not seem to have solved the problem of the value and scarcity of the currency. The miscellaneous silver sceattas minted in Frisia and Anglo-Saxon England afterwards around 680 were probably known as "pennies" at the fourth dimension. (The misnomer is based on a probable misreading of the Anglo-Saxon legal codes.)^[15] Their purity varied and their weight fluctuated from about 0.viii to virtually one.3 grams. They connected to exist minted in East Anglia under Beonna and in Northumbria as late as the mid-9th century.

The first Carolingian-mode pennies were introduced by Male monarch Offa of Mercia (r. 757–796), modeled on Pepin's system. His first series was 1⁄240 of the Saxon pound of 5400 grains (350 grams), giving a pennyweight of virtually 1.46 grams. His queen Cynethryth also minted these coins under her ain proper noun.^[16] Near the finish of his reign, Offa minted his coins in fake of Charlemagne's reformed pennies. Offa's coins were imitated past E Anglia, Kent, Wessex and Northumbria, also as by two Archbishops of Canterbury.^[16] As in the Frankish Empire,^[8] all these pennies were notionally fractions of shillings ( solidi ; sol ) and pounds ( librae ; livres ) just during this period neither larger unit was minted. Instead, they functioned only equally notional units of account.^[17] (For example, a "shilling" or "solidus" of grain was a measure equivalent to the amount of grain that 12 pennies could purchase.)^[18] English currency was notionally .925-fine sterling silver at the fourth dimension of Henry II, only the weight and value of the silver penny steadily declined from 1300 onwards.

In 1257, Henry III minted a gold penny which had the nominal value of ane shilling 8 pence (i.e. 20 d.). At first, the coin proved unpopular considering it was overvalued for its weight; by 1265 it was so undervalued—the bullion value of its gold being worth 2 shillings (i.e. 24 d.) by so—that the coins withal in apportionment were well-nigh entirely melted down for the value of their gold. Only 8 golden pennies are known to survive.^[19] Information technology was not until the reign of Edward Three that the florin and noble established a common gold currency in England.

A worn medieval penny, probably dating from the reigns of Henry VI–VII, AD 1413–1461

The earliest halfpenny and farthing (¼d.) found appointment from the reign of Henry 3. The demand for small modify was also sometimes met by simply cutting a total penny into halves or quarters. In 1527, Henry VIII abolished the Belfry pound of 5400 grains, replacing it with the Troy pound of 5760 grains (making a penny 5760/240 = 24 grains) and establishing a new pennyweight of 1.56 grams, although, confusingly, the penny coin past so weighed nearly viii grains, and had never weighed equally much as this 24 grains. The last silver pence for full general circulation were minted during the reign of Charles II effectually 1660. Since and then, they have merely been coined for issue as Maundy money, royal alms given to the elderly on Maundy Thursday.

Great britain [edit]

Throughout the 18th century, the British government did not mint pennies for general circulation and the bullion value of the existing silver pennies caused them to exist withdrawn from circulation. Merchants and mining companies, such equally Anglesey's Parys Mining Co., began to issue their own copper tokens to fill the need for pocket-size change.^[20] Finally, amongst the Napoleonic Wars, the government authorized Matthew Boulton to mint copper pennies and twopences at Soho Mint in Birmingham in 1797.^[21] Typically, one lb. of copper produced 24 pennies. In 1860, the copper penny was replaced with a bronze one (95% copper, 4% tin, 1% zinc). Each pound of bronze was coined into 48 pennies.^[22]

United States [edit]

The The states' cent, popularly known as the "penny" since the early 19th century,^[6] began with the unpopular copper chain cent in 1793.^[23] Abraham Lincoln was the start historical figure to appear on a U.Due south. coin when he was portrayed on the one-cent coin to commemorate his 100th altogether.^[24]

South Africa [edit]

The penny that was brought to the Cape Colony (in what is now South Africa) was a large coin—36 mm in diameter, iii.3 mm thick and 1 oz (28 one thousand)—and the twopence was correspondingly larger at 41 mm in diameter, 5 mm thick and 2 oz (57 g). On them was Britannia with a trident in her hand. The English called this coin the Cartwheel penny due to its large size and raised rim,^[25] but the Capetonians referred to it as the Devil's Penny every bit they assumed that merely the Devil used a trident.^[26] The coins were very unpopular due to their large weight and size.^[27] On six June 1825, Lord Charles Somerset, the governor, issued a annunciation that only British Sterling would exist legal tender in the Cape Colony (colonial South Africa). The new British coins (which were introduced in England in 1816), among them being the shilling, six-pence of silver, the penny, one-half-penny, and quarter-penny in copper, were introduced to the Greatcoat. Later ii-shilling, 4-penny, and three-penny coins were added to the coinage. The size and denomination of the 1816 British coins, with the exception of the four-penny coins, were used in South Africa until 1960.^[26]

Criticism [edit]

Handling and counting penny coins entail transaction costs that may be college than a penny. It has been claimed that, for micropayments, the mental arithmetics costs more than the penny. Changes in the market prices of metals, combined with currency inflation, has caused the metal value of penny coins to exceed their face up value.^{[28] [29]}

Australia and New Zealand adopted v¢ and 10¢, respectively, as their lowest coin denomination,^[xxx] followed past Canada, which adopted v¢ as its lowest denomination in 2012.^[31] Several nations take stopped minting equivalent value coins, and efforts have been fabricated to end the routine employ of pennies in several countries.^[32] In the United kingdom of great britain and northern ireland, since 1992, i- and two-penny coins accept been made from copper-plated steel (making them magnetic) instead of statuary.

In popular culture [edit]

• In British and American culture, finding a penny is traditionally considered lucky. A proverbial expression of this is "Find a penny, pick information technology upward, and all the twenty-four hour period you'll have good luck."^{[northward 4]}
• "A penny for your thoughts" is an idiomatic manner of asking someone what they are thinking almost. It is first attested in John Heywood's 1547 Dialogue Conteinying the Nomber in Effect of All the Proverbes in the Englishe Tongue,^[34] at a time when the penny was yet a sterling argent coin.
• "In for a penny, in for a pound," a common expression used to express someone's intention to meet an undertaking through, nonetheless much time, effort, or money this entails.
• To "requite (ane's) tuppence/tuppenny/two'penneth (worth)", is a democracy proverb that uses the words for two pence to share one'due south opinion, idea, or indicate of view, regardless of whether or non others want to hear it. A similar expression using the US term of cents is my two cents.
• In British English language, to "spend a penny" means to urinate. Its etymology is literal: coin-operated public toilets commonly charged a pre-decimal penny, starting time with the Keen Exhibition of 1851.
• Around Decimal Twenty-four hours in 1971, British Track introduced the "Superloo", improved public toilets that charged 2p (equivalent to nearly 5d).^[35]
• In 1936 U.S. shoemaker 1000.H. Bass & Co. introduced its "Weejuns" penny loafers. Other companies followed with like products.

List of pennies [edit]

• Australia: penny (1911–1964) and cent (1966–1992)
• Bosnia and herzegovina: pfenig (1998–present)
• Canada: cent (1858–2012)
• Denmark: penning (c.  830 ^[36]–a. 1873)
• England: penny (c.  785–1707)
• Estonia: penn (1918–1927)
• Falkland Islands: Falkland Islands penny (1974–present)
• Republic of finland: penni (1861–2002)
• France: denier (c.  755–1794)
• Various German states: Pfennig (c.  755–2002)
• Gibraltar: Gibraltar penny (1988–nowadays)
• Guernsey, as an 8-double coin ("Guernsey penny", 1830–1921) and ane⁄240 of a Guernsey pound (1921–71) and ane/100 of a Guernsey pound (1971–present)
• Republic of ireland: penny, as one/240 Irish pound (1928–68) and equally 1/100 Irish gaelic pound (1971–2002), and euro cent (2002–nowadays)
• Isle of Man: Manx penny (1668–present)
• Bailiwick of jersey: Jersey penny (1841–present)
• Netherlands: penning (8th–16th centuries)
• New Zealand: penny (1940–1967) and cent (1967–1987)
• Kingdom of Poland: fenig (1917–1918) and (1918–1924) during Second Smoothen Democracy
• Kingdom of norway: penning (c.  1000–1873)
• Saint Helena and Ascent Isle: Saint Helena penny (1984–present)
• Scotland: Penny Scots/ peighinn (c.  1130–1707)
• Sweden: penning (c.  1150–1548)
• South Africa: penny (1923–c.  1961) and cent (1961–2002)
• Transvaal: penny (1892–1900)
• Britain: penny, as ane⁄240 British pound (1707–1971) and as 1/100 British pound (1971–present)
• United states: cent (1793–present)
• Medieval Wales: ceiniog (10th–13th centuries)

Encounter also [edit]

• Coins of the pound sterling
• Elongated money (pressed penny)
• Efforts to eliminate the penny in the United States
• History of the English penny (c. 600 – 1066)
• Legal Tender Modernization Act
• One-cent money (disambiguation)
• Penny sizes of nails
• Pennyweight
• Sen, equivalent in Japan used betwixt the 19th century and 1953
• Prutah

Notes [edit]

1. ^ "He sal haf a penny til his noynsankys..."^[2]
2. ^ The Oxford English Dictionary notes two families of variants, one comprising pæning , pending , peninc , penincg , pening , peningc , and Northumbrian penning and the other peneg , pennig , pænig , penig , penug , pæni , and peni , the later of which gave rise to the modernistic grade.^[3]
3. ^ Germanic cognates of penny include Dutch, Danish, Swedish, and Sometime Saxon penning and German: Pfennig in reference to the coin and Icelandic: peningur, Swedish pengar , and Danish: penge in reference to "coin". Gothic, however, has 𐍃𐌺𐌰𐍄𐍄𐍃 ( skatts ) for the occurrence of "denarius" (Greek: δηνάριος , dēnários ) in the New Testament.^[3]
4. ^ This may be the source or a development of the "Meet a pin and pick it upwardly, all the 24-hour interval you'll accept good luck" recorded in a mid-19th century edition of Mother Goose.^[33]

References [edit]

Citations [edit]

1. ^ "Canada's Last Penny Minted". CBC News. Archived from the original on 2012-09-04. Retrieved 2012-08-xxx . .
2. ^ Slater, J. (1952), Early Scots Texts, Edinburgh: University of Edinburgh Printing .
3. ^ ^{a b c d e f} "penny, n.", Oxford English Dictionary, third ed. , 2005 .
4. ^ Vennemann, Theo (2013). "Ne'er-a-Confront: A Note on the Etymology of Penny, with an Appendix on the Etymology of Pane". In Patrizia Noel Aziz Hanna (ed.). Germania Semitica. Trends in Linguistics: Studies and Monographs, No. 259. Walter de Gruyter. p. 467. ISBN978-three-11-030109-0. Archived from the original on 2017-02-25. Retrieved 2016-02-08 . .
5. ^ The New Statesman, London: Statesman Publishing, 16 December 1966, p. 896 .
6. ^ ^{a b} Constellation, 12 March 1831, p. 133 .
7. ^ Allen (2009).
8. ^ ^{a b} Chown (1994), p. 23.
9. ^ Ferguson (1974), "Pound".
10. ^ Munro (2012), p. 31.
11. ^ Cipolla (1993), p. 129.
12. ^ Frassetto (2003), p. 131.
13. ^ NBB (2006).
14. ^ Suchodolski (1983).
15. ^ Bosworth & al.
16. ^ ^{a b} Blackburn & al. (1986), p. 277.
17. ^ Keary (2005), p. xxii.
18. ^ Scott (1964), p. 40.
19. ^ "The Gold Penny", Coin and Bullion Pages, archived from the original on 2016-02-10, retrieved 2016-02-17 .
20. ^ Selgin (2008), p. 16.
21. ^ "The Cartwheel Penny and Twopence of 1797", British Coinage, Royal Mint Museum, retrieved 15 May 2014 ^{[ permanent dead link ]} .
22. ^ EB (1911).
23. ^ "Timeline", Historian'southward Corner, Washington: US Mint, archived from the original on 2011-02-25, retrieved 2011-01-30 .
24. ^ "Penny History - Americans for Common Cents". {{cite web}}: CS1 maint: url-status (link)
25. ^ Severn Internet Services – www.severninternet.co.uk. "Birmingham Museums & Fine art Gallery Information Centre". BMAGiC. Archived from the original on 2012-02-21. Retrieved 2011-12-22 .
26. ^ ^{a b} "S African History of Coins". Archived from the original on 2011-11-28. Retrieved 2009-06-03 .
27. ^ "Currencyhelp.net". Currencyhelp.net. Archived from the original on 2008-05-30. Retrieved 2011-12-22 .
28. ^ "Around the Nation; Treasurer Says Zinc Penny May Salvage $50 Million a Year", New York Times, one April 1981, archived from the original on 11 April 2012, retrieved 2009-05-07
29. ^ Hagenbaugh, Barbara (10 May 2006), Coins cost more to make than face value, USA Today, archived from the original on seven March 2009, retrieved 2009-05-07
30. ^ "Article 2897480", Mytelus, archived from the original on 12 June 2008, retrieved 7 May 2009 .
31. ^ Smith, Joanna (thirty March 2012), "Federal Budget 2012: Pennies to Be Withdrawn from Circulation", The Star, Toronto, archived from the original on 6 October 2016, retrieved 8 September 2017
32. ^ Lewis, Mark (5 July 2002). "Ban The Penny". Forbes. Archived from the original on 22 May 2009. Retrieved 2009-05-07 .
33. ^ Mother Goose'southward Chimes, Rhymes, & Melodies, H.B. Ashmead, c. 1861, archived from the original on 9 January 2012, retrieved 14 Nov 2009 .
34. ^ Corrado, John (eleven October 2001), "What's the Origin of "A Penny for Your Thoughts"?", The Straight Dope, archived from the original on 23 July 2011, retrieved xiii February 2013 .
35. ^ "Spend a 6d in the superloo", Nation on Film, BBC, archived from the original on April 18, 2006 .
36. ^ Gullbekk, Svein H. (2014), "Vestfold: A Budgetary Perspective on the Viking Age", Early Medieval Monetary History: Studies in Retention of Marking Blackburn, Studies in Early Medieval Britain and Ireland, Farnham: Ashgate, p. 343, ISBN9781409456681, archived from the original on 2016-05-30, retrieved 2016-02-08 .

Bibliography [edit]

• Allen, Larry (2009), "Carolingian Reform", The Encyclopedia of Money, Sta. Barbara: ABC Clio, pp. 59–lx, ISBN978-one-59884-251-7 .
• Blackburn, M.A.S.; et al. (1986), Medieval European Coinage, Vol. 1: The Early on Middle Ages (5th–10th centuries), Cambridge .
• Bosworth; et al., An Old English language Dictionary .
• Chisholm, Hugh, ed. (1911). "Penny". Encyclopædia Britannica. Vol. 21 (11th ed.). Cambridge University Press. pp. 115–116.
• Chown, John F (1994), A History of Money from Advert 800, London: Routledge, ISBN0-415-10279-0 .
• Cipolla, Carlo One thousand. (1993), Before the Industrial Revolution: European Order and Economy, grand-1700, ISBN9780203695128 .
• Ferguson, Wallace K. (1974), "Money and Coinage of the Historic period of Erasmus: An Historical and Belittling Glossary with Item Reference to French republic, the Low Countries, England, the Rhineland, and Italy", The Correspondence of Erasmus: Letters i to 141: 1484 to 1500, Toronto: University of Toronto Press, pp. 311–349, ISBN0-8020-1981-1 .
• Frassetto, Michael (2003), Encyclopedia of Barbarian Europe: Society in Transformation, ISBN9781576072639 .
• Keary, Charles Francis (2005), A Catalogue of English Coins in the British Museum: Anglo-Saxon Serial, Vol. I .
• Munro, John H. (2012), "The Engineering science and Economics of Coinage Debasements in Medieval and Early Modernistic Europe: With Special Reference to the Low Countries and England", Money in the Pre-Industrial Globe: Bullion, Debasements, and Coin Substitutes, Pickering & Chatto, republished 2016 by Routledge, pp. 30 ff, ISBN978-1-84893-230-ii .
• Scott, Martin (1964), Medieval Europe , New York: Dorset Press, ISBN0-88029-115-X .
• Islam and the Carolingian Penny, National Bank of Belgium Museum, Nov 2006 .
• Selgin, George A. (2008), Skilful Coin: Birmingham Push Makers, the Royal Mint, and the Beginnings of Modern Coinage, 1775-1821, University of Michigan Press, ISBN978-0-472-11631-vii .
• Suchodolski, Stanislaw (1983), "On the Rejection of Adept Money in Carolingian Europe", Studies in Numismatic Method: Presented to Philip Grierson, Cambridge: Cambridge University Press, pp. 147–152, ISBN0-521-22503-five .

External links [edit]

Wikimedia Commons has media related to Penny.

Wikiquote has quotations related to: Penny

• Copper Penny Importance – Blog post & video roofing the importance of retaining copper pennies.
• The MegaPenny Project – A visualisation of what exponential numbers of pennies would expect similar.
• Silver Pennies – Pictures of English silver pennies from Anglo-Saxon times to the present.
• Copper Pennies – Pictures of English language copper pennies from 1797 to 1860.
• U.s.a. Lincoln Penny on the Planet Mars – Curiosity Rover (September x, 2012).
• "Penny". Collier's New Encyclopedia. 1921.
• "Penny". New International Encyclopedia. 1905.

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Source: https://en.wikipedia.org/wiki/Penny

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