Introduction
In addition to USD Lincoln cents and CAD Maple Leaf cents, a good source of copper is the decimalized GBP pence coins of the United Kingdom: GBP 1 penny and GBP 2 pence.
Like the North American cents, there is GBP 1 penny coin (singlular, so 1):
Unlike in North America, there is a GBP 2 pence coin (plural, so 2):
If you're American or Canadian (or if you grew up in either country), then it may seem odd to see a small-valued coin with a denomination of 2. However, many countries have coins with that denomination; this includes the UK, the countries where the Euro circulates, Australia, and New Zealand.
If you're in North America, it's a rare sighting when either UK coin appears. Across the Atlantic Ocean or around the world, it may be a different situation; I can't say and I won't guess.
Things To Know about Decimalized GBP 1 Penny and GBP 2 Pence
Since the 1971 Decimalization when the UK switched from its Lsd/£sd system ("L" for "£" [pound sterling], "s" for shillings, and "d" for pence), £sd GBP pence coins have been demonetized.
Like the final series of £sd coins before them, all decimalized GBP coins bear a portrait of Queen Elizabeth II.
From 1971 through 1981 GBP pence coins said "NEW PENNY 1" or "NEW PENCE 2"; "NEW" was replacd with either "ONE" or "TWO" for GBP pence coins starting in 1982.
The table below shows relevant details for us regarding GBP pence coins:
| Face Value | Mint Dates | Weight | Composition | Copper |
|---|---|---|---|---|
| 1 | 1971-1981 | 3.56 g | Bronze | 97% |
| 1 | 1982-1984 | 3.56 g | Bronze | 97% |
| 1 | 1985-1991 | 3.56 g | Bronze | 97% |
| 2 | 1971-1981 | 7.12 g | Bronze | 97% |
| 2 | 1982-1984 | 7.12 g | Bronze | 97% |
| 2 | 1985-1991 | 7.12 g | Bronze | 97% |
Outside of nations where GBP is considered legal tender, it is relatively rare to find even the decimalized GBP 1 penny during daily living. There's always the possibility of finding one of these coins by accident, so there is a chance.
Decimalized GBP 1 Penny versus CAD Maple Leaf Cent versus USD Lincoln Cent
The table below compares decimalized GBP 1 Penny with the USD Lincoln cent and CAD the Maple Leaf cent:
| Category |  GBP 1 Penny Coin |  USD Lincoln Cent |  CAD Maple Leaf |
|---|---|---|---|
| Dates | 1971-1991 | 1909-1981 | 1937-1996 |
| Weight | 3.56 g | 3.11 g | 3.24 g (1937-1979) 2.8 g (1980-1981) 2.5 g (1982-1996) |
| Copper content | 97% | 95% | 98% |
| Last full year as copper coin | 1992 | 1981 | 1996 |
| Circulating? | Yes | Yes | Yes |
| Demonetized? | No | No | No |
| Final Year Minted[^] | Not Yet | Not Yet | 2015 |
[^] -- Final year the coin itself was minted, reggardless of metallic composition.
Decimalized GBP 1 penny coins have been around since 1971, almost as long as Led Zeppelin. The North American cents, meanwhile, had already been circulating for at least 62 years. CAD Maple Leaf cents preceded decimalized GBP 1 penny by 34 years
Copper weight for GBP 1 penny is greater than that of either North American cent. Copper weight for both GBP 1 penny and USD Lincoln cent remained stable while for CAD Maple Leaf cent it decreased two times.
While GBP 1 penny has greater weight, it was the CAD Maple which had higher copper content (98% to 97%). USD Lincoln cent comes in 3rd place with 95 copper content.
All 3 copper coins continue to circulate and retain their status as legal tender. However, CAD Maple Leaf cent stopped being minted totally after 2015.
| NOTE: |
|---|
| GBP 1 penny went from copper to plated steel in 1992. USD Lincoln cent went from copper to zinc during 1982. From 1997 through 2015, CAD Maple Leaf was either copper-plated steel for magnetic coins, or copper-plated zinc for non-magnetic coins. Given that we're interested in the copper coins, we can spend them away or give them away. |
Just Look at the Math:
- 1 ounce copper = 28 grams
- 1 copper-based GBP 1 penny (1971-1991) = 3.56 grams
- 1 copper-based GBP 2 pence (1971-1991) = 7.12 grams
So...
GBP 1 penny (1971-1991)
28 grams | 1 GBP 1 penny coin ---------+------------------- = 8.641975 GBP 1 penny coins/ounce 1 ounce | 3.56 grams
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
GBP 2 pence (1971-1991)
28 grams | 1 GBP 2 pence coin ---------+------------------- = 3.932584 GBP 2 pence coins/ounce 1 ounce | 7.12 grams
If you have easy access to GBP pence coins, you have it made. Not only is GBP 1 penny a heavier copper coin than its North American analogs, but you can take advantage of GBP 2 pence copper (technically, bronze) coins.
Distinguishing GBP Pence Copper Coins from GBP Pence plated Steel Coins
As with CAD Maple Leaf cents, determining which decimalized GBP pence coins are copper coins is easy:
1991 and earlier -- 97% copper;
1992 and later -- copper-plated steel.
Where To Find Copper GBP Pence Coins
Pocket Change
If you're in the UK or any area where Pound Sterling is accepted as legal tender, then this paragraph from Part 1 of "How To Invest in Copper" applies, I said regarding about pocket change:
As long as we can still use cash, we'll still get change after we buy things. As long as we still get charged sales tax, items with nice round numbers will end up with crooked prices. Go through the pocket change and see what's worth keeping for copper content.
As I post Part 3 during the wee hours of 1 June 2021, that hasn't changed.
Rarely do I see GBP pence coins of any type (never mind the copper coins I would keep). Chances are I would encounter the plated steel GBP pence coins. I would have 2 reasons for holding on to these coins: either I sell them to a coin dealer after accumulating a decent quantity, or I would travel to the UK and spend them there.
Abandoned Change
No mater what, found money is still a good thing. Since we're looking for copper coins to keep, those are copper coins we acquire at zero cost except the time it takes to retrieve it. As always, make sure the abandoned coins are not associated with someone (as at a workplace).
Purchased Rolls
You're all set if you're in the UK or in a place where GBP coins circulate freely.
If you aren't in in the UK, then it's more difficult to buy rolls of GBP pence coins.
Sites such as eBay may be the best bet, Although shipping and handling fees may be high enough to put turn smiles into frowns for GBP 1 penny coins, you may find a better net return for GBP 2 pence coins.
Coin Dealers
Using coin dealers as a source for acquiring GBP pence coins depends on the cost per coin. If the cost per coin acquired is low enough, make the buy. Since we're talking about 2 kinds of GBP pence coins, the coin dealer may charge the same price for both kinds of GBP pence coins. If this is the case, the GBP 2 pence coins look more attractive.
It may be necessary to make a bulk purchase to get a good cost per coin, and the bulk purchase may include coins from other countires; some of those coins may have good copper content, so it's still OK. Chances are a significant percentage of these world coins will be GBP coins of all denominations, and many of those will be the copper coins.
Online
eBay and other well-established online online marketplaces could be used. Lesser known online dealers or shops specializing in coins could be used. Given our preference for decentralized sources (preferably using blockchain and cryptocurrencies), try those first before using more established places.
For online classifieds, Hivelist may have some ads for coins. If not, try the usual suspects. (Does Craig even run his list anymore??)
Friends and Colleagues
For people outside the UK, this may be the best source for GBP pence coins. The supply won't be steady or periodic, but it's beter than no supply. If you can find even a couple of people who want to let you take them off their hands, that's more than th number of people you had yesterday. More people would be at work than in a social group, so the chances of finding people who can give you GBP pence coins is greater-- not just people from th UK, but also people who were tourists there.
Why Invest in Copper?
This is what I said in Part 1 of "How To Invest in Copper,":
Buying copper is definitely not a "get rich quick scheme." Most copper purchased is for industrial use and in massive quantities. For quantities of copper as measured in pounds, it may be better to get from from scrap; there are people who do well by making the rounds to gather scrap from obsolete machines or appliances, but that's a job in itself.
Most people don't have those kind of access to resources, financing, or time. So it's left to circulating currency to help us here.
In 1992, copper GBP pence coins started being minted as copper-plated steel coins. Unlike CAD Maple Leaf cents (which met their demise after 2015), GBP pence coins, along with USD Lincoln cents, continue to be minted. Not only are GBP pence coins still being minted, their reverse designs were changed. It looks as if GBP pence coins (not to mention USD Lincoln cents) will become demonetized or disappear altogether the day Central Bank Digital Currencies go online. If China can roll out its digital yuan/renmimbi now, then that day is sooner than we think.
After GBP pence coins become demonetized-- not this year, not next year either, but past that I can't say-- these things can be done with them:
- People who have sufficient quantities of decimalized GBP pence coins can sell them to a scrap yard for their melting price. If the scrap yard is local, it may even be possible to avoid costs associsted with travel and transportation.
- Melt or no melt, the decimalized GBP pence coins can be used for barter or exchange.
- For those of us talented in arts and crafts, it's possible to use these copper decimalized GBP pence coins to make items selling for dollars per unit (provided demand exists for the items, of course). Definitely do this for the copper-plated steel coins.
Why Use Decimalized GBP Pence Coins?
Inside the UK and areas where GBP circulates freely, saving GBP pence coins is similar to people Stateside saving Lincoln cents.
Outside the UK and areas where GBP is accepted as legal tender, GBP pence coins would be a good source of copper coins in relation to other copper coins in the wild, if not in circulation. This is doubly true thanks to the existence of GBP 2 pence coins.
While not as accessible as USD Lincoln cents Stateside, GBP pence coins cents remain accessible enough to be afterthoughts. So were silver £sd GBP coins until 1946 turned into 1947.
At worst, decimalized GBP pence coins can always be swapped out for more acceptable money and then used to purchase small amounts of silver or cryptocurrencies.
Cryptocurrency would be ideal for many reasons. Should there be circumstances requiring physical media of exchange, precious metals can take their rightful place. If precious metals are impractical for certain kinds of transactions, copper is still useful as both a medium of exchange and as a raw material; continued theft of network cables and coaxial cables shows this.
Just as Bitcoin is the King of Cryptocurrencies, USD remains the fiat currency around which all others revolve. Just as Etherum has proven to be one of the most sought after cryptocurrencies aside from Bitcoin, GBP is one of the most traded fiat currencies in the world (perhaps moreso than CAD). For those reasons, if we get excited over acquiring free Satoshis, we should be even more excited when we find decimalizeed copper GBP pence coins to keep for a post-fiat currency future.
Most people don't have access to industrial-scale resources, financing, or time. So it's left to circulating currency to help us here. GBP still qualifies as a circulating currency, as do USD and CAD.
As with USD Lincoln cents, think of saving decimalized GBP pence coins as a way of earning passive income via copper. If you're tired of today'sentertainment options on television, silver screen, and streaming media these days, then saving decimalized GBP pence coins is a more rewarding use of your time (especially if you get into coin roll hunting [as a passtime]). Provided you have access to them somehow, saving decimalized GBP pence coins along with CAD Maple Leaf cents and USD Lincoln cents would be a good habit to develop in order to gain copper on a personal scale.
Much of what I wrote regarding copper USD Lincoln cents, copper CAD Maple Leaf cents, and decimalized copper GBP pence coins can be modified for legal tender copper coins from other countries. In future posts I'll cover (Euro)cents, Australian cents, New Zealand cents, and other world coins having good copper content. I also plan to write a general post about demonetized copper coins and which ones have good-to-great copper content.
| UPDATE: |
|---|
| (Euro)cents with denominations of 1, 2, and 5 are all made from copper-plated steel, not copper. Those with denominations of 10, 20, and 50 are made of Nordic gold, an alloy of copper. Its composition is 89% copper, 5 % aluminum, 5% zinc, and 1% tin. Skip (Euro)cents for copper investment, but consider them for micro-arbitrage or small-scale ForEx if you can get them cheap enough. |
The "How Anyone Can Invest in Copper" Series:
Part 1: USD Lincoln Cents |
Part 2: CAD Maple Leaf Cents |
Part 3: GBP Pence Coins (Decimalized) |
Part 4: AUD Cents Coins |
Part 5: JPY 10.00 Coins |
Part 6: SIDEBAR-- My Experiences with JPY 10.00 Coins (Coming Soon) |
| DISCLAIMER |
|---|
| As I am not a financial expert, this post is not meant to give financial advice. This post was written for informational purposes only in the hopes that it may be useful to anyone who is in a position to take advantage of it. |