Crowned portcullis (NEW PENNY) 1p (1971 to 1981)

The NEW PENNY 1p was struck in huge numbers, the 1971 date most of all, and worn coins trade at face value. The one date missing from change is 1972, made only for proof sets, and that is the NEW PENNY coin collectors look for. Among circulation years, 1975 had the smallest run. Past the date, what matters is condition: uncirculated pennies with their original mint colour and a sharp portcullis are the ones worth setting aside.

With 4,409,822,250 struck for circulation, the Crowned portcullis (NEW PENNY) 1p is the rarest of the 3 ranked 1p designs and has the 190th lowest mintage of all 194 circulating UK designs. That puts it in the Common band, for mintages 10,000,000 or more.

No 1p design has a lower circulation mintage. The next more common is the Royal Shield 1p, with 4,414,119,846 struck.

Its lowest circulation mintage was in 1975, with 221,604,000 struck.

Look for a small bronze coin with a crowned portcullis hung with chains, NEW PENNY above it and a 1 below, inside a beaded border. Pennies reading ONE PENNY date from 1982 onwards. On the heads side, the year comes straight after ELIZABETH II D G REG F D. Circulation dates run from 1971 to 1981 except 1972, which was struck only for proof sets. Every NEW PENNY coin is bronze, so none will stick to a magnet.

For the penny, Christopher Ironside chose the crowned portcullis with its chains. The emblem is adapted from the badge of Henry VII and is now the badge of the Palace of Westminster. On the coin the portcullis sits under a crown with the chains hanging from it, NEW PENNY follows the rim above, a numeral 1 sits below and a ring of beads runs round the edge. NEW PENNY stayed on the coin until 1982, when it began to read ONE PENNY. The coin went into use on 15 February 1971, struck in bronze, with Arnold Machin's portrait of the Queen and the date on the obverse. The Royal Mint had started striking pennies in 1968, well before Decimal Day, and those early coins are counted in the 1971 total, making it by far the biggest year of the NEW PENNY run. The 1972 penny was made only for proof sets, while every other date from 1973 to 1981 was struck for circulation.