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Was the penny more than 1 cent?

Updated: 9/18/2023
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14y ago

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If you're referring to US Coins commonly called pennies, the words have always referred to the same coin. It's a holdover from Colonial times when the US used British Coins. But in fact, there is no US coin officially called a penny, even though we all use that term.

If you want to know the relationship between a British penny and a US cent, the two coins have rarely been worth the same amount due to changes in the exchange rate between the US dollar and the British pound. Ant that doesn't even take into account the fact that the number of pence in a pound was changed from 240 to 100 back in 1971.

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Q: Was the penny more than 1 cent?
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