What is the value of one pence in the eighteenth century?

Answer 1

Surely, the question should be "What is the value of one penny in eighteenth century terms" ?

Pence is the alternative plural of penny i.e.one penny,two pence (or two pennies).

As the stable data of the British people were altered in the early 1970's decimalisation of British coinage,it seems that they could not bring themselves to use the word "penny " for one New Penny (2.4times one "old penny" yet much smaller in size), especially when they realised that what used to cost one "old" penny (then 1/240th of a pound) would soon cost 2.4 times ,more through inflational stealth, as these "New Pence" were introduced.. Hence the incorrect usage of the plural, which soon became common coin.(pun intended!).

In many ways it's rather meaningless to try to give equivalents in modern money, as relative costs have changed so much. In say 1750, one penny was 1/240th of a pound. Prices have risen about 80fold+ since then, so the modern purchasing power would be about equivalent to 33-40 pence. (Until inflation in the wars against France late in the century a penny was a very small silver coin. The first official copper penny was minted in 1797).

Answer 2

A British 1808 Penny (Proof FDC) Unique. There is only one known to exist.

Due to Britains ongoing expenses with various wars in the late 18th and early 19th centuries, there were very few silver or copper coins minted, subsequently there were a great many privately minted tokens and counterfeit coins produced.

To get an estimate of value on a privately minted token, you need to provide the details of the inscription on the token.

Alternatively, you may have a replica or facsimile coin.

Answer 3

There are a number of references to 18-pence paper currency dated 1776 issued in the American colonies. That denomination (1s 6d) was issued as Continental currency and by the colonies of Pennsylvania and New Jersey, among others.

If the item is in fact a paper note, please add more information in the Discussion section including any wording that might help to zero in on its origin. Most of these bills were signed, so if there are any signatures those too would help to pin down where it came from.

Answer 4

There were no British Pennies produced by the Royal Mint from 1787 to 1791 inclusive.

Due to Britains ongoing expenses with various wars in the late 18th and early 19th centuries, there were very few silver or copper coins minted, subsequently there were a great many counterfeit coins produced.

Answer 5

One Shilling GBP in 1750 had the purchasing power of about £6.44 GBP today.

NOTE - This historical conversion is the result of many calculations and considerations for which I cannot take credit. The resulting answer should only be regarded as an approximation.

Answer 6

The only British Penny minted in 1818 was the Maundy Penny.

A British 18181 sterling silver Maundy Penny (George III), uncirculated and in absolute mint condition could fetch up to £425 GBP. If it has been circulated but still in good condition, it might fetch anything from £85 to £175 GBP.

The values quoted are the best possible for the best specimens in their grades, but may be significantly lower due to varying demand for the coin and the prevailing economic climate. A reputable coin dealer will be able to give a more accurate valuation based on inspection of the coin.

Answer 7

A 1764 British Sixpence would have the purchasing power of about 2.6 British Pounds today.

Answer 8

A British Penny in 1765 had the purchasing power of about £0.42 GBP today.

Answer 9

A British Penny in 1776 had the purchasing power of about £0.40 GBP today.