The government can confirm that it has no plans to alter the current make up of UK coins and notes in circulation.
Inflation has long since robbed them of a useful role, but in a country so obsessed with its imaginary glorious past (see also: Brexit), it’s easy to understand why getting rid of them is a battle no one in government wants to fight.
Before the penny, the lowest-value coin was the halfpenny, with a face value of one two-hundredth of a pound. But that was worth more then: more than a penny is worth today, in fact! Here’s what each of the previous smallest coins was worth in 2019 pounds at the time it was withdrawn from circulation:
|Coin||Year withdrawn||Face value||£1 in £2019||Value in £2019|
The value of £1 in £2019 is the real price taken from the Measuring Worth calculator.
Historically, by quite some margin, there has never been a UK coin as worthless as the penny is today.