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The United Kingdom 1p coin was one of three new coins introduced into general circulation on the 15 February 1971 when the United Kingdom adopted a new decimal currency system. The other two new coins were the 1/2p and 2p coins (5p, 10p and 50p had been introduced earlier). The one penny coin is currently the lowest circulating denomination of the British (decimal) Pound Sterling, after the half penny was demonetised in 1984. Between 1971 and 1991, one penny coins were made of bronze. The first copper-plated steel 1p coins were struck in 1992. The reason for this change was the increase in the price of metals on the world markets. The coins have a mild steel core and are electroplated with copper - consequently they are magnetic. They retained the original design by Christopher Ironside until the introduction of the new 1p by Matthew Dent in 2008. Coins of this type are still current and circulate in parallel with the new ones. Coins issued in 1994 have now been circulating for 29 years. One penny and two pence coins are legal tender only up to the sum of 20p; this means that it is permissible to refuse payment of sums greater than this amount in 1p and 2p coins in order to settle a debt. The obverse of the coin shows the crowned bust of Queen Elizabeth II, facing right (her effigy known as the "Third Portrait"). The Queen is wearing the royal diadem which she wears on her way to and from the State Opening of Parliament, a pearl necklace and earrings. Incuse in tiny letters on the neck truncation, the designer's initials RDM (for Raphael David Maklouf). Around, the monarch's legend and the date of issue: ELIZABETH II D · G · REG · F · D · 1994. Translated from Latin: Elizabeth the Second, by the grace of God, Queen, Defender of the Faith 1994. Within a beaded circle, a crowned portcullis with chains (an adaptation of the Badge of Henry VII and now the Badge of the Palace of Westminster); around above, the denomination ONE PENNY; below, the value as a numeral: 1. For more information comment below, i will answer your all questsions... 👇👇👇👇 Thanks. 😊 #uk #queenelizabeth #micollections