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1971 New Penny

Matt97932Matt97932 Posts: 234 ✭✭✭
in World & Ancient Coins Forum

Does anyone know how much a 1971 New Penny actually is worth?

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    John ConduittJohn Conduitt Posts: 355 ✭✭✭

    1p

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    lordmarcovanlordmarcovan Posts: 43,198 ✭✭✭✭✭

    ^ This.


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    SapyxSapyx Posts: 2,003 ✭✭✭✭✭

    The 1971 1 new penny coin is one of the most common British decimal coins out there. You can find them in change, all the time; even though the alloy for the 1p is now different, the old-alloy coins have never been withdrawn. Here's the NGC database page, with values taken from the old Krause catalogue; as you can see, even in pristine Uncirculated condition, it's worth less than US$2.

    You may find 1971 1 new penny coins being offered for sale at very high prices on eBay and elsewhere, and may be wondering why. The answer is "criminals". Drug dealers and organized crime gangs are using exorbitantly priced 1971 new penny coins (or similar, otherwise-worthless coins) to launder their money. It's legal, because "optimism isn't a crime". Taking a cheap worthless coin you found in change and slapping it on eBay with an asking price of $2499 is neither illegal nor against eBay policy. $2500 is the threshold for eBay policies to prevent it.

    Waste no more time arguing what a good man should be. Be one.
    Roman emperor Marcus Aurelius, "Meditations"

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    GreenstangGreenstang Posts: 803 ✭✭✭✭

    There were over 1 Billion 500 Million minted. Can’t see it being worth much over face value.

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    Matt97932Matt97932 Posts: 234 ✭✭✭

    Thank you for the help. Everywhere I looked it was 700 to 2500 and I have 3 of them. I knew that amount couldn't have been right.

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