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GBP 5 Penny

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The British decimal five pence coin is a subdivision of pound sterling first issued in 1968 in preparation for the 1971 decimalisation of the currency. At that time it had the same value, size and weight as the existing shilling, and it may be viewed as a continuation of the older coin. Between 1968 and 1971 it circulated, with a value of one shilling, alongside the pre-decimal shilling coins – the aim being to gradually familiarise the public with the new decimal coinage. After decimalisation, the old shilling coin continued in circulation, with a value of 5p, until finally withdrawn in 1990.

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Christopher Ironside

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Five Pee

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0.05

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Copper, Nickel

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United Kingdom

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1968

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The British decimal five pence coin is a subdivision of pound sterling first issued in 1968 in preparation for the 1971 decimalisation of the currency. At that time it had the same value, size and weight as the existing shilling, and it may be viewed as a continuation of the older coin. Between 1968 and 1971 it circulated, with a value of one shilling, alongside the pre-decimal shilling coins – the aim being to gradually familiarise the public with the new decimal coinage. After decimalisation, the old shilling coin continued in circulation, with a value of 5p, until finally withdrawn in 1990. Apart from the reduction in size, the coin's design remained essentially unchanged. All the older 5p and shilling coins were withdrawn from circulation and demonetised from 1 January 1991. The old 5p coin had the same size as the 1 Deutsche Mark coin but was worth less than a fifth of a Deutsche Mark. Vending machines could not distinguish between the two, so the 5p coin was sometimes fraudulently used for the 1 DM coin.