Anonymous
Anonymous asked in Education & ReferenceHomework Help · 1 decade ago

who invented a penny?

i need it for my science project

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  • Anonymous
    1 decade ago
    Best Answer

    G'day Osmara Z,

    Thank you for your question.

    Do you mean the currency?

    A penny (pl. pence or pennies) is a unit of currency or a coin used in several English-speaking countries, The penny was first introduced by King Offa of Mercia which is in the midlands of England. In the US, the design was suggested by Benjamin Franklin.

    The penny, originally a coin of 1.3 to 1.5 g pure silver, was introduced to England around the year 785 by King Offa of Mercia, in the English midlands. Coins of the same value were in circulation continuously until decimalisation in 1971, at which time a new penny was introduced worth 2.4 times the value of the old coin. Offa's original coins were similar in size and weight to the continental deniers of the period.

    The name penny comes from the Old English pennige (roughly pronounced "penny-yeah", IPA [penije]), sharing the same root as the German pfennig. Its abbreviation d. comes from the Roman denarius and was used until decimalisation in 1971.

    Anglo-Saxon silver pennies were the currency used to pay the Danegeld, essentially protection money paid to the Vikings so that they would go away and not ravage the land: as an illustration of how heavy a burden the Danegeld was, more Anglo-Saxon pennies of the decades around the first Millennium have been found in Denmark than in England. In the reign of Ethelred the Unready (978–1016), some 40 million pennies were paid to the Danes, while King Canute (Knut) (1016–1035) paid off his invasion army with another 20 million pennies. This adds up to about 2,800,000 troy ounces (87 tonnes) of silver, equivalent to £250,000 at the time, and worth about £10 million in today's money (however its purchasing power at that time may have exceeded £100 million and as high £1 billion of today's currency).

    The penny initially weighed 20 to 22.5 grains (1.3 to 1.5 g) of pure silver. It was standardized to 1/240th of a Tower pound (approx. 350 g). The alloy was set to sterling silver of 925/1000 in 1158 under King Henry II. The weight standard was changed to the Troy pound (373.242 g) in 1528 under Henry VIII, i.e. a pennyweight became about 1.555 grams. As the purity and weight of the coin was critical, the name of the moneyer who manufactured the coin, and at which mint, often appeared on the reverse side of the coin.

    At the time of the 1702 London Mint Assay by Sir Isaac Newton, the silver content of British coinage was defined to be one troy ounce of sterling silver for 62 pence. Therefore, the value of the monetary pound sterling was equivalent to only 3.87 troy ounces of sterling silver. This was the standard from 1601 to 1816.

    From the time of King Offa, the penny was the only denomination of coin minted in England for 500 years, until the attempted gold coinage issue of King Henry III, and the later issues of King Edward III.

    * 1/100 of the British Pound Sterling or the Irish pound (1971–2001), or a coin with that value: see history of the English penny.

    * 1/240 of the British pound sterling or Irish pound prior to February 15, 1971, of the Pound Scots prior to 1707, and also the pre-decimalisation currencies of Australia, New Zealand and South Africa (1/12 of the shilling), or a coin of that value.

    * a standard but unofficial name for the one-cent coin in the United States and in Canada, worth 1/100 of the dollar: see penny (U.S. coin), penny (Canadian coin). This word is not used by the United States Mint or the Royal Canadian Mint; they use cent.

    In the USA and Canada, "penny" is normally used to refer to the coin; the quantity of money is a "cent". Elsewhere in the English-speaking world, the plural of "penny" is "pence" when referring to a quantity of money and "pennies" when referring to a number of coins. Thus a coin worth five times as much as one penny is worth five pence, but "five pennies" means five coins each of which is a penny. Similarly, in the United States and Canada, a coin worth five times the value of a penny is worth "five cents", but "five pennies" means five one-cent coins, and the plural form pence is not used.

    In Canada, penny originally referred to pence coinage that they used until 1859, since there was a coin with the word "penny" on it (for pence). Since this was a term that they used for many years, penny nickname stayed with the one-cent denomination ever since. The Royal Canadian Mint and the Federal Government of Canada don't officially refer to the one-cent coin as a penny just the "one-cent" coin.

    When dealing with British or Irish (pound) money, amounts of the decimal "new pence" less than £1 may be suffixed with "p", as in 2p, 5p, 26p, 72p. Pre-1971 amounts of less than 1/- (one shilling) were denoted with a "d" which derived from the term "denarius", as in 2d, 6d, 10d. The lettering "new pence" was changed to "pence" on British decimal coinage in 1982. Irish pound decimal coinage only used "p" to designate units (possibly as this sufficed for both the English word "pence", and Irish form "pingin").

    In 2004, 530,110,000 pennies were issued in the UK, according to the Royal Mint. Pennies are no longer routinely minted in the US.

    I have attached sources for your reference.

    Regards

    Source(s): Wikipedia Penny http://en.wikipedia.org/wiki/Penny British One-Penny Coin pre-decimal http://en.wikipedia.org/wiki/History_of_the_Englis... Wikipedia Cent (United States) http://en.wikipedia.org/wiki/Cent_%28U.S._coin%29 The History of the US PEnny http://www.pennies.org/history/intro.html Answers.com penny http://www.answers.com/penny&r=67
  • Anonymous
    1 decade ago

    The one-cent coin, commonly known as the penny, was the first currency of any type authorized by the United States. The design for the first one-cent coin was suggested by Benjamin Franklin. The counterpart. The word "penny" is derived from the British coin pence. Over 300 billion one-cent coins, with 11 different designs, have been minted since 1787.

    The first one-cent coin was struck in 1787 by a private mint. This coin, known as the Fugio cent, was 100% copper and this composition would continue until the mid-1800s. Paul Revere, a noted blacksmith, supplied some of the copper for one-cent coins minted during the early 1790's.

  • 1 decade ago

    The one-cent coin, commonly known as the penny, was the first currency of any type authorized by the United States. The design for the first one-cent coin was suggested by Benjamin Franklin. The word "penny" is derived from the British coin pence. Over 300 billion one-cent coins, with 11 different designs, have been minted since 1787.

    The first one-cent coin was struck in 1787 by a private mint. This coin, known as the Fugio cent, was 100% copper and this composition would continue until the mid-1800s. Paul Revere, a noted blacksmith, supplied some of the copper for one-cent coins minted during the early 1790's.

  • Erika
    Lv 4
    3 years ago

    Who Invented The Penny

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  • 4 years ago

    Yes, it was invented by the Brits. It was called that because the wheels were so dissimilar in size - the large one resembling a penny while the small one looked like a farthing. James Stanley, of England, is credited with inventing the two-wheeler with different sized wheels.

  • 1 decade ago

    Coins in general date back to ancient Mesopotamia. They probably had a currency that was the equivalent of a penny.

  • 1 decade ago

    You may care to have a scan of the links below. This is as much as I know.

  • 1 decade ago

    bill nye the science guy

  • Anonymous
    1 decade ago

    ur mom had sex with george bush and got in trouble with dises

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