new penny
C1Historical/Technical
Definition
Meaning
The basic unit of currency in the UK decimal currency system, introduced in 1971, equal to one hundredth of a pound.
Informally refers to a small, often insignificant amount of money; historically, the term was used officially for the coin in the early years of decimalisation to distinguish it from the pre-decimal penny.
Linguistics
Semantic Notes
While 'penny' remains the common term for the coin, the specific term 'new penny' (plural: new pence) is now largely historical, used primarily when discussing the 1971 currency change. The official plural abbreviation was 'p'. In everyday modern usage, people simply say 'penny' or 'pence'.
Dialectal Variation
British vs American Usage
Differences
The term is exclusively British/Irish. Americans have no equivalent concept as their cent was never renamed. In the US, 'penny' refers to the one-cent coin but is not prefixed with 'new'.
Connotations
In the UK, the term evokes the 1971 decimalisation and a period of economic change. It can sound slightly dated or technical. No connotations exist in American English.
Frequency
Extremely low frequency in modern British English, except in historical or numismatic contexts. Virtually never used in American English.
Vocabulary
Collocations
Grammar
Valency Patterns
[number] new penny/pencethe new pennya new penny coinVocabulary
Synonyms
Strong
Neutral
Weak
Vocabulary
Antonyms
Phrases
Idioms & Phrases
- “Turn up like a bad new penny (variant of 'bad penny')”
- “Not a new penny to his name”
Usage
Context Usage
Business
Rare, except in historical financial reports discussing the transition period (e.g., 'Prices were converted at 2.4 new pence to the old shilling').
Academic
Used in economic history, numismatics, and texts about British social change in the 1970s.
Everyday
Virtually obsolete. An older person might say, 'I remember when a new penny could buy a sweet.'
Technical
Precise term in coin collecting (numismatics) for the decimal penny coins minted from 1971, especially those with 'NEW PENNY' inscribed.
Examples
By Part of Speech
verb
British English
- The government decided to new-penny the old currency.
- They were busy new-pennying all the cash registers.
American English
- (Not applicable)
adverb
British English
- (Rare to non-existent)
American English
- (Not applicable)
adjective
British English
- The new-penny coins felt lightweight.
- A new-penny price increase.
American English
- (Not applicable)
Examples
By CEFR Level
- I have one new penny.
- In 1972, a loaf of bread cost several new pence.
- The term 'new penny' was formally used for a few years after decimalisation to avoid confusion.
- Numismatists value the 1971 'new penny' proof coins minted for the decimal transition.
Learning
Memory Aids
Mnemonic
Think 'NEW PEnny' for 'Nation's Updated Pound Economy' – it was the new coin for the new decimal pound system.
Conceptual Metaphor
MONEY IS A MEASURE OF CHANGE (The 'new' penny literally measured the change from the old monetary system).
Watch out
Common Pitfalls
Translation Traps (for Russian speakers)
- Avoid translating as 'новая копейка'. It is a specific UK historical term.
- Do not confuse with the modern British 'penny' (пенни).
- The plural 'new pence' is often abbreviated 'p' (pronounced 'пи'), not to be confused with the Russian 'п'.
Common Mistakes
- Using 'new penny' to refer to a modern penny (just say 'penny').
- Saying 'new pences' (correct plural is 'new pence').
- Capitalising it as a proper noun (usually lower case).
Practice
Quiz
What does the term 'new penny' specifically refer to?
FAQ
Frequently Asked Questions
Yes, but only as a 'penny'. All 'new penny' coins (1p, 2p) remain legal tender for their face value.
The 'new' was officially dropped from the coin's design around 1982, and usage faded from everyday language soon after decimalisation.
The symbol was 'p', as in '5p' for five new pence. This remains the standard.
There were 2.4 old pennies in one new penny. One old pound (240 old pence) became one new pound (100 new pence).