Q:

What is a pence?

A:

Quick Answer

A pence is a piece of currency from the United Kingdom that bears some similarity to the penny in the United States, in that 100 pence is equal to 1 pound. Before the decimalization of the U.K. monetary system in 1971, 12 pence were equal to 1 pound.

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What is a pence?
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Full Answer

Although currency prices fluctuate, 1 pence is usually equivalent to the monetary value of two U.S. cents. British coin currency currently comes in denominations of 1 pence (also called a penny), 2 pence, 5 pence, 10 pence, 20 pence, 50 pence, 1 pound and 2 pounds. As of 2014, pounds and pence are more prevalent in the United Kingdom than the Euro.

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Related Questions

  • Q:

    Where can I sell my undated 20 pence coin?

    A:

    Undated 20 pence coins can be sold to collectors, traded or sold in online marketplaces, or sold back to the London Mint Office. To sell a coin back to the London Mint office, the London Mint Office must have previously owned it.

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  • Q:

    How much is a 1969 50 pence coin worth?

    A:

    The British 50 pence coin from 1969 is worth between U.S. $1.50 and $5.00 depending its condition. Over 188 million of the coins were minted, so they are not particularly rare. The copper and nickel of which the coin is made also have little intrinsic value.

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  • Q:

    How big is a 2-pence piece?

    A:

    A 2-pence piece measures 25.9 millimeters, or 1.019 inches in diameter. The coin weighs 7.12 grams, or 0.251 ounces, and is made of copper, zinc and tin. The 2-pence piece coin was introduced in 1971 and is used in the United Kingdom as legal currency to purchase goods and services.

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  • Q:

    How much is a new pence coin worth?

    A:

    The value of a pence coin stamped with the phrase "new pence" is typically worth between 10 pence and 2 pounds, if in mint or proof condition. The 1983 new pence error coin is worth approximately 400 pounds or more in perfect condition with full luster.

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