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In 1998, the new 1p coin was introduced featuring the Ian Rank-Broadley sculpture of Elizabeth II's head, and the back had the usual portcullis. Previous to 1998, Raphael Maklouf's sculpture of Elizabeth II's head was used. The most notable differences between the two pennies are that the pre-1998 one had a younger-looking queen's head and she wore a Tiara in the 1998 version whereas she wore George VI's crown.

The reason for this change was most likely just to update the coin.

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Q: What is on the 1998 penny and why?
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