What it would buy in today's money
Because prices have risen so much, a penny bought far more in the past than its decimal value suggests:
| Year | A penny in 2025 prices |
|---|---|
| 1850 | £0.79 |
| 1900 | £0.72 |
| 1938 | £0.39 |
| 1950 | £0.20 |
| 1960 | £0.13 |
| 1970 | £0.09 |
About the penny
The large bronze penny, with Britannia on the back, was the everyday coin of Victorian and 20th-century Britain. There were 240 to the pound and 12 to the shilling. The phrase “spend a penny” comes from the penny-operated locks on public toilets.
When it went: Withdrawn in August 1971, after decimalisation.
Quick facts
| Value | 1d |
| Decimal equivalent | about 0.42p |
| Nickname | – |
| Per pound | 240 |
Today's values use the ONS composite price index (Open Government Licence v3.0).
Common questions
How much was a penny worth in decimal money?
A penny was worth 1d, which is about 0.42p in decimal money.
How many pennies were in a pound?
There were 240 pennies in a pound.
What would a penny from 1950 be worth today?
About £0.20 in 2025 prices, based on ONS price data.
Other old coins
Farthing · Halfpenny · Threepenny bit · Sixpence · Shilling · Florin · Half crown · Crown · Ten-shilling note · Sovereign · Guinea