Definition

Noun: A coin used in Great Britain since 1971, worth one hundredth of a pound sterling. It is the base unit of the decimal currency system that replaced the old pounds, shillings, and pence.

Usage

The term "new penny" specifically refers to the coin introduced during decimalization in the United Kingdom. It distinguishes the modern penny (1/100 of a pound) from the pre-decimal penny (1/240 of a pound). While officially just called a "penny" or "pence" since decimalization, "new penny" is used for historical clarity.

Examples

• Noun:
  • The price increased by five new pence. (The cost went up by five of the decimal pennies.)
  • After 1971, the old sixpence was worth 2½ new pence. (This shows the conversion from the old to the new currency system.)

Advanced Usage

• Historical Context: The term is primarily used when discussing the 1971 currency change or comparing values before and after decimalization.
  • Collectors often seek coins marked "new penny" from the early decimal years.

Variants and Related Words

• Penny (n): The general term for the coin; the plural is "pence" for value (e.g., fifty pence) or "pennies" when referring to multiple individual coins.
• Pence (n): The plural form used to express an amount of money (e.g., ten pence).
• Decimal penny: A synonym emphasizing its role in the decimal currency system.

Synonyms

• Decimal penny
• 1p coin (spoken as "one pee")

Notes

The "new penny" was officially minted with the words "NEW PENNY" (or "NEW PENCE" for higher values) from 1971 until 1981, after which the word "NEW" was dropped. The term is now largely historical.

Noun

1. a coin used in Great Britain since 1971 worth one hundredth of a pound