Farthing (British coin)

The farthing (from Old English: fēorðing or feorþung; "a fourth") was a denomination of sterling coinage worth of an old penny, or of a pound. This is an equivalent face value of around of a new penny. Initially minted in copper, and then in bronze, it replaced the earlier English farthing and was minted until 1956.

Between 1860 and 1971, the farthing's purchasing power ranged between £0.12 and £0.20 in 2017 values. The farthing's reverse bore an image of Britannia until 1937, when a wren was introduced. As with all British coins, the obverse bore the image of the reigning monarch.Michael, Thomas and Cuhaj, George S. Collecting World Coins: Circulating Issues 1901 - Present (Krause Publications, 2001) The farthing ceased to be legal tender in the United Kingdom on 1 January 1961.

History

A British copper farthing succeeded the English farthing after England and Scotland were united into the Kingdom of Great Britain in 1707, although not immediately. Under Queen Anne, a small number of pattern farthings were struck, but none for circulation, as so many English farthings from previous reigns were still available. Some British copper farthings were struck in the reigns of George I and George II. By the accession of George III, in 1760, many counterfeits were in circulation, and the Royal Mint stopped minting copper coins in 1775. The next farthings were the first struck by steam power, in 1799 by Matthew Boulton at his Soho Mint, under licence. Boulton coined more in 1806, and the Royal Mint resumed production in 1821. The farthing was struck regularly under George IV and William IV, by then with a design very like a smaller version of the penny.

Values less than a pound were usually written in terms of shillings and pence, e.g. three shillings and six pence (3/6d.), pronounced "three and six" or "three and sixpence". Values of less than a shilling were simply written in pence, e.g. (8d.), pronounced "eightpence". A price with a farthing in it would be written like this: (2d.), pronounced "twopence [or tuppence/tuppenny] farthing", or (1/3d.), pronounced "one and threepence [or thruppence/thruppenny] farthing" or (19/11), pronounced "nineteen and elevenpence three farthing(s)". 19/11 was a value used to make goods seem "significantly" cheaper than £1, usage similar to the modern £0.99 (which is also the approximate purchasing power in 2021 of 11d in 1961, the year when the farthing was withdrawn from circulation).

The first bronze farthings were struck in 1860, in the reign of Queen Victoria, with a new reverse designed by Leonard Charles Wyon. This shows a seated Britannia, holding a trident, with the word above. Between 1860 and 1895 there is a lighthouse to Britannia's left and a ship to her right. Various minor adjustments were made over the years to the level of the sea around Britannia and the angle of her trident. Some issues feature toothed edges to the coin, while others feature beading.

After 1860, seven different obverses were used. Edward VII, George V, George VI and Elizabeth II each had a single obverse for the farthings produced during their respective reigns. Over the long reign of Queen Victoria, two different obverses were used. The farthing of 1860 carried the so-called "bun head", or "draped bust" of Queen Victoria on the obverse. The inscription around the bust read (abbreviated Latin: Victoria by the grace of God queen of Britain defender of the faith). This was replaced in 1895 by the "old head", or "veiled bust". The inscription on these coins read (Victoria by the grace of God, queen of the Britons, defender of the faith, empress of India).

Farthings issued during the reign of Edward VII feature his likeness and bear the inscription (Edward VII by the grace of God, king of all British, defender of the faith, emperor of India). Similarly, those issued during the reign of George V feature his likeness and bear the inscription (George V by the grace of God, king of all British, defender of the faith, emperor of India).

A farthing of King Edward VIII (reigned 1936) does exist, dated 1937, but technically it is a pattern coin, one produced for official approval, which it was due to receive at about the time that the King abdicated, and in the event no farthings bearing his likeness were ever issued. The pattern has a left-facing portrait of the king, who considered this to be his best side, and consequently broke the tradition of alternating the direction in which the monarch faces on coins — some viewed this as indicating bad luck for the reign; the inscription on the obverse is (Edward VIII by the grace of God, king of all British, defender of the faith, emperor of India).

One feature of the pattern farthing of Edward VIII was a redesigned reverse displaying the wren, one of Britain's smallest birds and cultural omen of good luck. From 1937 this appeared on the regular-issue farthings of George VI and was continued on the farthings of Elizabeth II until the last issue in 1956.

George VI coins feature the inscription (George VI by the grace of God, king of all British, defender of the faith, emperor of India) before 1949, and (George VI by the grace of God, king of all British, defender of the faith) thereafter. Unlike the penny, farthings were minted throughout the early reign of Elizabeth II, bearing the inscription (Elizabeth II by the grace of God, queen of all British, defender of the faith) in 1953, and (Elizabeth II by the grace of God, queen, defender of the faith) thereafter.

Obverse designs

Mintages Victoria (Veiled bust)1895 ~ 2,852,852 (inc bun head bust) 1896 ~ 3,668,610 1897 ~ 4,579,800 1898 ~ 4,010,080 1899 ~ 3,864,616 1900 ~ 5,969,317 1901 ~ 8,016,460 Edward VII1902 ~ 5,125,120 1903 ~ 5,331,200 1904 ~ 3,628,800 1905 ~ 4,076,800 1906 ~ 5,340,160 1907 ~ 4,399,360 1908 ~ 4,264,960 1909 ~ 8,852,480 1910 ~ 2,298,400 George V1911 ~ 5,196,800 1912 ~ 7,669,760 1913 ~ 4,184,320 1914 ~ 6,126,988 1915 ~ 7,129,255 1916 ~ 10,993,325 1917 ~ 21,434,844 1918 ~ 19,362,818 1919 ~ 15,089,425 1920 ~ 11,480,536 1921 ~ 9,469,097 1922 ~ 9,956,983 1923 ~ 8,034,457 1924 ~ 8,733,414 1925 ~ 12,634,697 1926 ~ 9,792,397 1927 ~ 7,868,355 1928 ~ 11,625,600 1929 ~ 8,419,200 1930 ~ 4,195,200 1931 ~ 6,595,200 1932 ~ 9,292,800 1933 ~ 4,560,000 1934 ~ 3,052,800 1935 ~ 2,227,200 1936 ~ 9,734,400 George VI1937 ~ 8,131,200 1938 ~ 7,449,600 1939 ~ 31,440,000 1940 ~ 18,360,000 1941 ~ 27,312,000 1942 ~ 28,857,600 1943 ~ 33,345,600 1944 ~ 25,137,600 1945 ~ 23,736,000 1946 ~ 24,364,800 1947 ~ 14,745,600 1948 ~ 16,622,400 1949 ~ 8,424,000 1950 ~ 10,324,800 1950 Proof ~ 17,513 1951 ~ 14,016,000 1951 Proof ~ 20,000 1952 ~ 5,251,200 Elizabeth II1953 ~ 6,131,037 1954 ~ 6,566,400 1955 ~ 5,779,200 1956 ~ 1,996,800

Farthing (British coin)

Bron en licentie