History of the British penny (1901–1970)
History of the British penny (1901–1970).The history of the British penny (1⁄240 of a pound sterling) from 1901 to 1970 saw it remain a large bronze coin throughout that time, with the obverse depicting the monarch and the reverse Britannia. The obverse from 1902 to 1910 featured George William de Saulles's depiction of Edward VII, followed by Bertram Mackennal's portrait of George V. No pennies were produced for commerce in 1933, as there were a sufficient number in circulation. At least seven were struck for placement beneath foundation stones and in museums. Edward VIII's short reign is represented only by a single pattern coin, dated 1937. That year, a new obverse design depicting George VI by Humphrey Paget went into use. From 1953, the penny bore Mary Gillick's portrait of Elizabeth II. The officials who planned decimalisation in the 1960s did not favour keeping the large bronze penny. It quickly went out of use after Decimal Day, 15 February 1971, and was demonetised on 31 August 1971.