The British decimal one penny (1p) coin is a unit of currency and denomination of sterling coinage worth 1⁄100 of one pound.

Its obverse featured the profile of Queen Elizabeth II since the coin's introduction on 15 February 1971, the day British currency was decimalised, until her death on 8 September 2022.

A new portrait featuring King Charles III was introduced on 30 September 2022, designed by Martin Jennings.

The second and current reverse, designed by Matthew Dent, features a segment of the Royal Shield and was introduced in 2008.

[13] The new 1p coins began production in December 1968 in the newly built Royal Mint facility in Llantrisant, South Wales.

[14] On 15 February 1971, the United Kingdom officially switched to a decimal currency and the new coins entered circulation.

Anticipation of a switch to a decimalised currency led to the commissioning of a new Royal Portrait by artist Arnold Machin, which was approved by the Queen in 1964.

[26] In October 2023, a new design featuring a left facing uncrowned bust of the newly crowned King Charles III was revealed.

Despite no official government confirmation of a switch to decimalised currency, the Royal Mint began the design process for decimal coins in 1962.

British sculptor Christopher Ironside won this competition, and his design was chosen to feature on the potential decimalised currency.

[29] However, Chancellor James Callaghan's announcement that the United Kingdom would decimalise its currency included an open competition to find the new designs.

[31] The winner, announced in April 2008, was Matthew Dent, whose designs were gradually introduced into circulating British coinage from mid-2008.

[33] The 1p coin depicts the left section between the first and third quarter of the shield, representing England and Northern Ireland.

It is estimated that 60% of copper coins are only spent once, before being removed from the cash cycle, as they are saved or binned.

Charities feared that the number of donations made in collection pots would fall and some business models could be severely impacted, for example traditional seaside arcades.

[41][42] However, in May 2019 Chancellor Phillip Hammond announced the outcome of a 2018 consultation, suggesting there were no plans to scrap copper coins and that he wanted the public to "have choice over how they spend their money".

[45][46] Since around 2002, the penny has had the lowest value in real terms of any coin in the history of the United Kingdom, since at least its formation by the Acts of Union in 1707.