Quick answer
The rarest circulating 1p is the 2008 "New Pence"-style error, which sells for £60-£200, followed by the 1971 proof-only issues at £3-£10 each. The genuinely valuable 1p is the 1933 penny, of which only seven are known, worth £70,000-£120,000+. Most 1p coins in your change are worth exactly 1p.
TL;DR
- The 1933 penny is the holy grail, only 7 known, all traceable
- The 2008 "undated" 20p error is often confused with 1p, check the denomination carefully
- Pre-decimal "pennies" (1d bronze, 1860-1967) are different coins entirely and have their own rarities
- Post-decimal 1p coins (1971-present) are almost all face value; early proofs trade at £2-£10
- Condition matters enormously for any pre-1980s penny
Table of contents
- The legendary 1933 penny
- Post-decimal 1p values
- Pre-decimal penny key dates
- Mintages and values table
- What to look for in change
- Grading 1p coins
- Common questions
- FAQ
The legendary 1933 penny
No 1933 pennies were meant to be struck for circulation. Banks already had excess bronze penny stock, so the Royal Mint produced only a tiny number, traditionally said to be seven, for ceremonial use, foundation stones under new buildings, and a handful of museum pieces. One was famously dug up from beneath a Leeds church in 1970 and sold at auction.
Every known 1933 penny is traceable. Examples sell for £70,000-£120,000+ when they appear at Spink or Baldwin's. For the full story, see our deep-dive on the 1933 penny value.
Plenty of 1930 and 1936 pennies sit in drawers across Britain, often mistaken for 1933s, check the date carefully.
Post-decimal 1p values
The decimal 1p has been in circulation since February 1971. For the first decade the reverse read "NEW PENNY" before the legend changed to "ONE PENNY" in 1982, mirroring the 2p. Unlike the 2p, no 1p "New Penny" error coins slipped out with the wrong legend in a later year.
Most decimal 1p coins are worth face value. The exceptions:
- 1971 proof, £2-£5 in original case; £10+ if still sealed
- 1972-1974 proof-only dates, £3-£8
- Silver piedfort proofs, issued in some commemorative sets; £20-£60
- 2008 undated 20p error, not technically a 1p, but often confused; £50-£150
Pre-decimal penny key dates
The bronze penny (1860-1967) includes several genuine rarities beyond 1933:
- 1869, low mintage; £300-£1,500 in EF
- 1912 H (Heaton mint mark), £15-£80 in EF
- 1918 KN and 1919 KN (Kings Norton), £20-£150 in EF
- 1950 and 1951, proof-only with tiny mintages; £100-£400 each
- 1953 proof, common in coronation sets; £8-£20
Explore the full rare UK coins list for context on where these sit in the wider landscape.
Mintages and values table
| Year | Type | Mintage | Fine | EF | UNC |
|---|---|---|---|---|---|
| 1869 | Bronze penny | 2,580,000 | £40 | £500 | £1,200 |
| 1912 H | Bronze penny | 16,800,000 | £3 | £40 | £100 |
| 1918 KN | Bronze penny | 3,660,800 | £5 | £80 | £200 |
| 1933 | Bronze penny | ~7 known | , | £70,000 | £120,000 |
| 1951 | Bronze penny | 120,000 (proof) | , | £150 | £400 |
| 1971 | Decimal 1p | 1,521,666,250 | Face | £1 | £2 |
| 2008 | Shield reverse | 180,600,000 | Face | £1 | £2 |
What to look for in change
Nine times out of ten, a "rare penny" in change is a common date that just looks unusual because of toning or wear. Before getting excited:
- Check the exact date, not 1930, 1934 or 1936
- Confirm the legend matches the year (NEW PENNY vs ONE PENNY)
- Weigh the coin, post-1992 1p coins are copper-plated steel (3.56 g), pre-1992 are bronze (3.56 g but non-magnetic)
- Look for proof finish, mirror fields and frosted devices suggest a proof that's escaped a set
A magnet is your best friend. Any 1p that sticks is post-1992 and almost certainly common.
Grading 1p coins
Penny wear shows first on:
- Britannia's knee and shield (pre-decimal) or the crowned portcullis / shield quarters (decimal)
- The monarch's cheek and highest lock of hair
- The rim details
An uncirculated 1p still shows full mint red colour; a "red-brown" or fully brown coin has toned naturally over decades and is worth less to most collectors. Harshly cleaned coins, pink, hazy or with parallel hairlines, are essentially unsellable.
For 1p coins within a larger collection, log them in the coin value checker to track every date you own and see what complements them on the explore page.
Common questions
What 1p coins are valuable?
The 1933 penny is the one truly valuable British 1p (six figures). Beyond that, the 1869, 1951 proof and 1918/1919 KN are the scarcest pre-decimal dates. All post-decimal 1p coins are face value unless in original proof packaging.
Is a 1971 new penny rare?
No. Over 1.5 billion 1971 1p coins were struck. Circulated examples are worth 1p; uncirculated pieces sell for £1-£2.
How many 1933 pennies exist?
Seven are publicly known, four in museum and royal collections, three in private hands. The location of each is documented.
How can I tell a copper 1p from a steel 1p?
A magnet. Bronze 1p coins (pre-September 1992) are non-magnetic; copper-plated steel 1p coins (1992 onwards) are strongly attracted to a magnet.
FAQ
Q: Are old pennies worth anything?
A: Most pre-decimal pennies are worth 50p-£2 in circulated grade. Specific key dates reach £50-£1,500+. See are old coins worth anything? for the full breakdown.
Q: What year 1p is worth the most?
A: 1933 bronze penny, £70,000 to £120,000+ for any of the 7 known examples.
Q: Can a 1p coin be worth £50?
A: Some pre-decimal pennies reach £50+ in high grade. No decimal 1p in a circulated state is worth £50 unless it has a dramatic, verifiable minting error.
Q: Should I keep old 1p coins?
A: Keep any pre-decimal penny in uncirculated condition, any dated 1869, 1918 KN, 1919 KN, 1933 or 1951, and any proof coin still in original packaging.
Q: Where can I sell rare 1p coins?
A: Spink, Baldwin's and Noonans for anything £100+. eBay for smaller amounts, but only after grading. See coin value checker for current prices.