Change Checkers are not ready to say farewell to the British Penny…

Last week, we asked Change Checkers if it was time to scrap the British penny.

coppers-2

The penny has been in existence for 1,200 years!

The majority of you said no!

Although it’s fair to say that pennies are rarely used to buy anything anymore, it looks like the sentimental value of the penny is important to us Brits.

penny-poll-results

53% of Change Checker want to keep the penny.

53% of Change Checkers are in favour of keeping the penny and there are a host of economic, pragmatic, charitable and nostalgic reasons in defence of the penny. 

In 1992, all 1p and 2p coins intended for circulation changed from bronze to copper plated steel as a result of the rising price of base metals. Although the Royal Mint does not disclose how much it costs to produce pennies, it is thought that it costs significantly less than face value to produce. The changes to the metal content in 1992 has been key to the future of the penny and allowed it to live on.

Coins are tangible and people do enjoy using them. Most transactions below £10 are still done in cash and it’s likely that it will be a while before it is common for small transactions to be done digitally.

Britain’s traditions run deep and the 1 penny coin is an expression of this tradition. It will be a very sad day if and when they British penny ceases to exist.

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11 Responses to Change Checkers are not ready to say farewell to the British Penny…

  1. ALBERT LAMB says:

    I OWN A NEW FIVE POUND NOTE SERIAL NUMBER AK55 800001 ANY VALUE?

  2. Paul says:

    To all of those people who want to scrap it I will simply say – If somebody gives you a penny throw it away. That should keep everyone happy

  3. Stephen Aykroyd says:

    Hi I’ve THREE new fivers one is AC44 and AC08 and one is AJ 08 are they worth anything .

  4. Jackie Pedzinski says:

    For the majority of us I don’t think it would matter, but in favour of keeping means charity boxes will not miss out on the 1p or 2p lots of people put in.

  5. TL says:

    Scrap the 2p coin! If you need to make up change, just do it in 1Ps

  6. A bit like the Brexit result?

  7. Keith Verrall says:

    All this will do is give the Green light to all traders to round up to the nearest pound. I know this is only a penny, but when you take organisations like Amazon and Ebay this will raise them much money every single day. Yet another rip off for householders if it happens.

  8. Peter Buckingham says:

    The pound is made up of 100 pennies. Be very weird to not have a penny.

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