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Encyclopedia > Penny
A one penny coin from Ghana
A one penny coin from Ghana
A variety of low value coins, including a (historical) Irish 2 pence piece and many United States pennies.
Two British 2 pence coins (below) and a 5 pence coin (above)
Two British 2 pence coins (below) and a 5 pence coin (above)
A silver copy of the rare and valuable 1930 Australian penny

A penny (pl. pence or pennies) is a coin or a unit of currency used in several English-speaking countries. Image File history File links PENNY.jpg Summary Nike sneaker campaign ad poster. ... Image File history File links PENNY.jpg Summary Nike sneaker campaign ad poster. ... Download high resolution version (1024x768, 83 KB)Many US pennies and an Irish 2p piece (now out of circulation). ... Download high resolution version (1024x768, 83 KB)Many US pennies and an Irish 2p piece (now out of circulation). ... Image File history File links Download high-resolution version (1181x712, 131 KB) I, the creator of this work, hereby grant the permission to copy, distribute and/or modify this document under the terms of the GNU Free Documentation License, Version 1. ... Image File history File links Download high-resolution version (1181x712, 131 KB) I, the creator of this work, hereby grant the permission to copy, distribute and/or modify this document under the terms of the GNU Free Documentation License, Version 1. ... This article is about monetary coins. ... The English language is a West Germanic language that originates in England. ...

Contents

Value

In the 8th century, Charlemagne declared that 240 pennies or pfennigs should be minted from a pound of silver. A single coin thus contained about 1.9 grams of silver. (Today, this amount of silver would cost about 56p sterling.) (7th century — 8th century — 9th century — other centuries) Events The Iberian peninsula is taken by Arab and Berber Muslims, thus ending the Visigothic rule, and starting almost 8 centuries of Muslim presence there. ... Charlemagne (left) and Pippin the Hunchback. ... Currency signs • ¤ ฿ • ₵ • ¢ • $ • â‚¡ • B/. • â‚« • € • Æ’ • ₲ • â‚­ £ • ₤ • Lm • â‚¥ • • ₱ • P • R • Sk • ₨ ৲ • S/. • ৳ • R$ • $ • â‚® • â‚© • Â¥ • zÅ‚ • â‚´ • ₪ ₳ • â‚¢ • â‚° • ₯ • â‚  • â‚£ • ℳ • ₧ • I/.• Kčs 10 Pfennig iron coin 1917 German Empire 5 Pfennig iron coin 1915 German Empire 1 Pfennig coin 1950 Deutschland 1918 25 pfennig iron coin German Empire. ...


The penny is among the lowest denomination of coins in circulation.

In addition, variants of the word penny, with which they share a common root, are or were the names of certain units of currency in non-English-speaking countries: GBP redirects here. ... For the pre-decimal British one penny coin, see British One Penny coin (pre-decimal). ... For the coin of the same value, see Irish one pound coin. ... ISO 4217 code: GIP Symbol: £ 1/100th unit: penny Introduced in: 1927 Exchange Rates May 2006 USD exchange: 0. ... ISO 4217 Code FKP User(s) Falkland Islands, South Georgia and the South Sandwich Islands Inflation 3. ... This article is about monetary coins. ... For silver pennies produced after 1820 see Maundy money The silver penny was introduced to England around the year 785 by King Offa of Mercia, in the English midlands. ... is the 46th day of the year in the Gregorian calendar. ... Year 1971 (MCMLXXI) was a common year starting on Friday (link will display full calendar) of the 1971 Gregorian calendar, known as the year of cyclohexanol. ... Pound Scots was the national unit of currency in the Kingdom of Scotland before the country entered into a political and currency union with England in 1707. ... For the system of library classification, see Dewey Decimal Classification. ... This article is about coinage. ... This article is about the type of currency, for the U.S. Dollar see United States dollar. ... The United States one-cent coin is a unit of currency equaling one-hundredth of a United States dollar. ... In Canada, a penny is a coin worth one cent or 1100 of a dollar. ... Seal of the U.S. Mint Denver United States mint building The United States Mint primarily produces circulating coinage for the United States to conduct its trade and commerce. ... Mint flag The Royal Canadian Mint (RCM, french Monnaie royale canadienne) produces all of Canadas circulation coins, and manufactures circulation coins on behalf of other nations. ... The root is the primary lexical unit of a word, which carries the most significant aspects of semantic content and cannot be reduced into smaller constituents. ...

In the United States and Canada, "penny" is normally used to refer to the coin; the quantity of money is a "cent." Elsewhere in the English-speaking world, the plural of "penny" is "pence" when referring to a quantity of money and "pennies" when referring to a number of coins[1]. Thus a coin worth five times as much as one penny is worth five pence, but "five pennies" means five coins, each of which is a penny. A Fening is a unit of currency used in Bosnia-Herzegovina. ... ISO 4217 Code BAM User(s) Bosnia and Herzegovina Inflation 8. ... Currency signs • ¤ ฿ • ₵ • ¢ • $ • â‚¡ • B/. • â‚« • € • Æ’ • ₲ • â‚­ £ • ₤ • Lm • â‚¥ • • ₱ • P • R • Sk • ₨ ৲ • S/. • ৳ • R$ • $ • â‚® • â‚© • Â¥ • zÅ‚ • â‚´ • ₪ ₳ • â‚¢ • â‚° • ₯ • â‚  • â‚£ • ℳ • ₧ • I/.• Kčs 10 Pfennig iron coin 1917 German Empire 5 Pfennig iron coin 1915 German Empire 1 Pfennig coin 1950 Deutschland 1918 25 pfennig iron coin German Empire. ... ISO 4217 Code DEM User(s) Germany, Montenegro, Kosovo ERM Since 13 March 1979 Fixed rate since 31 December 1998 Replaced by €, non cash 1 January 1999 Replaced by €, cash 1 January 2002 € = 1. ... The markka or mark was the currency used in Finland from 1861 until January 1, 1999 (in practice on January 1, 2002), when it was replaced by the euro (€). The currency code used for the markka was FIM, and the usual familiar notation was a postfix mk. ... The markka or mark was the currency used in Finland from 1861 until January 1, 1999, when it was replaced by the euro (€). The currency code used for the markka was FIM, and the usual familiar notation was a postfix mk. ... ¢ c A United States cent, or 1¢ or a penny In currency, the cent is a monetary unit that equals 1/100 of various countries basic monetary units. ... The English language is a West Germanic language that originates in England. ... This article is about monetary coins. ...


When dealing with British or Irish (pound) money, amounts of the decimal "new pence" less than £1 may be suffixed with "p", as in 2p, 5p, 26p, 72p. Pre-1971 amounts of less than 1/- (one shilling) were denoted with a "d" which derived from the term "denarius", as in 2d, 6d, 10d. The lettering "new pence" was changed to "pence" on British decimal coinage in 1982. Irish pound decimal coinage only used "p" to designate units (possibly as this sufficed for both the English word "pence", and Irish form "pingin"). First row : c. ...


The British penny as a unit of currency dates back well over a thousand years, and for most of that period the silver penny was the principal denomination in circulation. For silver pennies produced after 1820 see Maundy money. ... For silver pennies produced after 1820 see Maundy money. ...


Other uses

O: Draped bust of Aethelred left. +ÆĐELRED REX ANGLOR R: Long cross. +EADPOLD MO CÆNT
Anglo-Saxon silver 'Long Cross' penny of Aethelred II, moneyer Eadwold, Canterbury, c. 997-1003. The cross made cutting the coin into half-pennies or farthings (quarter-pennies easier

To "spend a penny" in British idiom means to urinate. The etymology of the phrase is literal; some public toilets used to be coin-operated, with a pre-decimal penny being the charge levied. Eventually, at around the same time as the introduction of decimal coinage, British Rail gradually introduced better public toilets with the name Superloo and the much higher charge of 6d.[2] The term obverse, and its opposite, reverse, describe the two sides of units of currency and many other kinds of two-sided objects, most often in reference to coins, but also to medals, drawings, old master prints and other works of art. ... The term obverse, and its opposite, reverse, describe the two sides of units of currency and many other kinds of two-sided objects, most often in reference to coins, but also to medals, drawings, old master prints and other works of art. ... The Anglo-Saxons refers collectively to the groups of Germanic tribes who achieved dominance in southern Britain from the mid-5th century, forming the basis for the modern English nation. ... Ethelred II (Old English: Æþelred) (c. ... Farthing is an old word meaning a fourth or a quarter. ... An idiom is an expression (i. ... Urination, also called micturition, is the process of disposing urine from the urinary bladder through the urethra to the outside of the body. ... This article does not cite any references or sources. ... This article is about the defunct entity British Railways, which later traded as British Rail. The History of rail transport in Great Britain is covered in its own article. ...


Finding a penny is sometimes considered lucky and gives rise to the saying, "Find a penny, pick it up, and all the day: you'll have good luck." This may be a corruption of "See a pin and pick it up, all the day you'll have good luck" and similar verses, as quoted in The Frank C. Brown Collection of North Carolina Folklore and other sources.


Nails

In the US, the length of a nail is designated by its penny size. This unit's abbreviation is d (e.g. 10d for 10 penny nails), as for British pence before decimalization. A smaller number indicates a shorter nail and a larger number indicates a longer nail. Nails under 1¼ in., often called brads, are sold mostly in small packages with only a length designation (e.g. ½" (12 mm), 118" (28 mm), etc.).


It is commonly believed that the origin of the term "penny" in relation to nail size is based on the old custom in England of selling nails by the hundred. A hundred nails that sold for six pence were "six penny" nails. The larger the nail, the more a hundred nails would cost, hence the larger nails have a larger number for their penny size. This classification system was still used in England in the 18th century, but is obsolete there now. (17th century - 18th century - 19th century - more centuries) As a means of recording the passage of time, the 18th century refers to the century that lasted from 1701 through 1800. ...


Criticism

The physical handling and counting of pennies creates transaction costs that may be higher than a penny per penny spent. Furthermore, as has been claimed for micropayments, due to mental transaction costs one penny may exceed the useful price granularity of almost all products and services sold over the counter—granularities of five or ten pence may be sufficient.[3] Also, inflation periodically causes the metal value of pennies to exceed their face value, making them wasteful to mint.[4][5] Several nations have stopped minting equivalent value coins, and efforts have been made to end the routine use of pennies in several countries, including Canada and the United States.[6] In economics and related disciplines, a transaction cost is a cost incurred in making an economic exchange. ... Micropayments are means for transferring very small amounts of money, in situations where collecting such small amounts of money with the usual payment systems is impractical, or very expensive, in terms of the amount of money being collected. ...


See also

A penny of 1962 The Australian Penny was a coin used in the Commonwealth of Australia prior to decimalization. ... For the pre-decimal British one penny coin, see British One Penny coin (pre-decimal). ... For silver pennies produced after 1820 see Maundy money. ... This article concerns British coinage, the coinage of the United Kingdom. ... In Canada, a penny is a coin worth one cent or 1100 of a dollar. ... The Irish penny coin was the third smallest denomination of the Irish currency and worth 1/240 of an Irish pound. ... The Irish penny was the second smallest denomination of the Irish pound which was decimalised on Decimal Day, February 15, 1971 it was the second of three new designs introduced all in bronze. ... The United States one-cent coin is a unit of currency equaling one-hundredth of a United States dollar. ... Top row: Sacagawea Dollar, Lincoln Cent, and Roosevelt Dime. ... This article needs to be wikified. ... The 1943 steel cent was a special version of the U.S. Lincoln cent. ... The 1955 doubled die cent is one of the most dramatic 20th century U.S. coinage errors. ... The 1974 aluminum cent was a proposed cent produced by the United States Mint in 1973. ... This article or section does not cite its references or sources. ... The Legal Tender Modernization Act was an act proposed by United States Representative Jim Kolbe of Arizona in 2002. ... 1959 US cent, first year mint with Lincoln Memorial design on reverse. ... Currency signs • ¤ ฿ • ₵ • ¢ • $ • ₡ • B/. • ₫ • € • ƒ • ₲ • ₭ £ • ₤ • Lm • ₥ • • ₱ • P • R • Sk • ₨ ৲ • S/. • ৳ • R$ • $ • ₮ • ₩ • ¥ • zł • ₴ • ₪ ₳ • ₢ • ₰ • ₯ • ₠ • ₣ • ℳ • ₧ • I/.• Kčs 10 Pfennig iron coin 1917 German Empire 5 Pfennig iron coin 1915 German Empire 1 Pfennig coin 1950 Deutschland 1918 25 pfennig iron coin German Empire. ... Elongated coins are coins that have been flattened, stretched and imprinted with a new design with the purpose of creating a commemorative or souvenir token. ...

References

  1. ^ "Penny - Oxford English Dictionary". oed.com.
  2. ^ BBC Nation on Film - Rise and Fall of LNER Mod Cons - Engines Must Not Enter the Potato Siding: "Spend a 6d in the superloo"
  3. ^ http://www.mytelus.com/ncp_news/article.en.do?pn=canada&articleID=2897480
  4. ^ New York Times, "AROUND THE NATION; Treasurer Says Zinc Penny May Save $50 Million a Year", April 1, 1981
  5. ^ USA Today, Barbara Hagenbaugh, "Coins cost more to make than face value", May 10, 2006
  6. ^ Lewis, Mark (2002-07-05). Ban The Penny. Forbes.com. Retrieved on 2007-07-16.

Also see: 2002 (number). ... is the 186th day of the year (187th in leap years) in the Gregorian calendar. ... Year 2007 (MMVII) is the current year, a common year starting on Monday of the Gregorian calendar and the AD/CE era in the 21st century. ... is the 197th day of the year (198th in leap years) in the Gregorian calendar. ...

External links

  • The MegaPenny Project - A visualisation of what exponential numbers of pennies would look like.
  • Silver Pennies - Pictures of English silver pennies from Anglo-Saxon times to the present.
  • Copper Pennies - Pictures of English copper pennies from 1797 to 1860.

  Results from FactBites:
 
Penny - Wikipedia, the free encyclopedia (781 words)
A penny (pl. pence or pennies) is a unit of currency or a coin used in several English-speaking countries:
Elsewhere in the English-speaking world, the plural of "penny" is "pence" when referring to a quantity of money and "pennies" when referring to a number of coins.
In Canada, "penny" referred to pence coinage until 1859, since there was a coin with the word "penny" on it (for the singular of pence).
BBC News | TV AND RADIO | Penny evicted from Big Brother house (545 words)
Penny is an English teacher at the Sarah Bonnell School in Stratford, London and has described herself as "eccentric and hyper".
Penny has said her teaching ambition is to make every teenager's dreams come true - but admits to being naive and optimistic.
Penny had already told the others that she was not bothered about leaving.
  More results at FactBites »

 
 

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