Value
Welcome to CWAnswers
CWAnswers is your guide to the sprawling world wide web. The directory aims to provide a useful guide made by users. You can share your knowledge as well - simply sign up and edit your first entry. For questions just contact the team at support - at - cwanswers.com.
Weblinks for Penny
Top 10 for Penny
Things about Penny you find nowhere else.
Select content modules
Value
In the 8th century, Charlemagne declared that 240 pennies or pfennigs should be minted from one Carolingian pound, approximately , of silver, so a single coin contained about of silver. (As of May 2009, this would cost about £0.40Fact: date=May 2009.)
The penny is among the lowest denomination of coins in circulation.Fact: comment=it's not. The US cent is worth less, Zimabwean, Egyptian, South African etc.
- 1/100 of the British pound sterling (see British one penny coin), the former Irish pound, the Gibraltar pound, the Falkland Islands pound, or a coin with that value: see history of the English penny.
- 1/240 of the British pound sterling or Irish pound before decimalisation on 15 February 1971, of the Pound Scots prior to 1707, and also the pre-decimalisation currencies of Australia, New Zealand and South Africa (1/12 of the shilling), or a coin of that value.
- The preferred name for the one-cent coin in the United States and in Canada, worth 1/100 of the dollar: see penny (U.S. coin), penny (Canadian coin).
In addition, variants of the word penny, with which they share a common root, are or were the names of certain units of currency in non-English-speaking countries:
- A fening is 1/100 of a Bosnia and Herzegovina convertible mark
- A pfennig was 1/100 of a German mark
- A penni was 1/100 of a Finnish markka
In the United States and Canada, "penny" is normally used to refer to the coin; the quantity of money is a "cent." Elsewhere in the English-speaking world, the plural of "penny" is "pence" when referring to a quantity of money and "pennies" when referring to a number of coins. Thus a coin worth five times as much as one penny is worth five pence, but "five pennies" means five coins, each of which is a penny.
When dealing with British or Irish (pound) money, amounts of the decimal "new pence" less than £1 may be suffixed with "p", as in 2p, 5p, 26p, 72p. Pre-1971 amounts of less than 1/- (one shilling) were denoted with a "d" which derived from the term "denarius", as in 2d, 6d, 10d (tuppence, a tanner, and so forth). The lettering "NEW PENNY" or "NEW PENCE" was changed to "ONE PENNY", "TWO PENCE" or "FIVE PENCE", on British decimal coinage in 1982, the year that the pound coin replaced the pound note in England and Wales (though not in Scotland).
Irish pound decimal coinage only used "p" to designate units (possibly as this sufficed for both the English word "pence", and Irish form "pingin").
